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Global Photovoltaic Materials Market: By Material: Polycrystalline Silicon, Monocrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide (CIGS), Others; By Product; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Photovoltaic Materials Market Outlook

The global photovoltaic materials market stood at a value of around USD 21.42 billion in 2020. The market is further expected to grow at a CAGR of 14.04% in the forecast period of 2021-2026 to attain a value of around USD 40.24 billion by 2026.

 

Residential Segment to Occupy a Substantial Market Share of the Global Photovoltaic Materials Industry

Based on application, the residential segment is predicted to account for a significant market share in the photovoltaic materials industry. This increase can be attributed to the increased adoption of photovoltaic cells in the residential sector. The decreasing price of photovoltaic cells is a major factor contributing to the increased demand. The consumers are exceedingly adopting solar energy to meet their household electricity demands by installing photovoltaic cells on their rooftops.

 

Global Photovoltaic Materials Market

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Moreover, many government initiatives offering tax rebates to PV cell users are further increasing its popularity among consumers. In addition, the growing consciousness pertaining to the environment is also driving consumers to increasingly invest in sustainable energy mechanisms. These aspects are predicted to bolster the market in the coming years.

 

The Asia Pacific to Account for a Considerable Market Share in the Global Photovoltaic Materials Industry

The Asia Pacific is estimated to hold a substantial share of the photovoltaic materials industry in the forecast period. This growth can be attributed to the growing investments in sustainable energy generation by the governments in the region. In addition, the rising disposable income levels, improved standards of living, and the prospering public infrastructure such as the development of smart and green cities are also significant factors propelling the industry growth. According to the statistics provided by the International Renewable Energy Agency, the Asia Pacific, especially China, is predicted to dominate the solar PV market in terms of installation capacity, which is expected to grow beyond 50% by 2050.

 

Photovoltaic Materials: Industry Definition and Segmentation

Photovoltaics is an emerging sustainable energy generation mechanism that is increasingly gaining prominence around the world. It refers to the conversion of solar energy into electricity with the help of photovoltaic materials, that is, semiconducting materials, which help to absorb the energy and transfer it to negatively charged particles known as electrons. Thus, the system charges the electrons to flow through the material in the form of an electric current extracted by the conductive metals, which further powers the electric grid, providing electricity to various electronic and electrical devices.

By material, the market is distributed into:

  • Polycrystalline Silicon
  • Monocrystalline Silicon 
  • Cadmium Telluride 
  • Copper Indium Gallium Selenide (CIGS)
  • Others

On the basis of product, the industry can be segmented into:

  • Front Sheet
  • Encapsulant 
  • Back Sheet 
  • Others

Based on application, the market can be categorised into:

  • Utility 
  • Residential 
  • Non-Residential

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Increased Investments in Sustainable Energy Generation to Augment the Growth of the Global Photovoltaic Materials Industry

With the rising eco-consciousness worldwide, fuelled by the rapidly increasing pollution levels, consumers are steadily investing in renewable energy resources.  At the same time, governments are investing in the development of sustainable energy generation plants and the deployment of renewable energy across industries to reduce carbon emissions. In addition, technological innovations such as tandem and perovskite technologies are enhancing the efficiency of traditional silicon solar cells. Moreover, new cell structure architecture such as passive emitter and rear cells are increasingly being adopted, as they are compatible with emerging technological innovations such as half-cut cells. Furthermore, growing investments in the research and development of prototypes of advanced PV cells in order to increase their capacity as well as utility are estimated to boost the industry growth in the forecast period.

 

Key Industry Players in the Global Photovoltaic Materials Market

The report gives a detailed analysis of the following key players in the global photovoltaic materials market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • DuPont de Nemours, Inc.
  • American Elements Corporation
  • Merck KGaA 
  • NovoPolymers NV
  • Hangzhou First Applied Material Co., Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Material, Product, Application, Region
Breakup by Material Polycrystalline Silicon, Monocrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide (CIGS), Others
Breakup by Product Front Sheet, Encapsulant, Back Sheet, Others
Breakup by Application Utility, Residential, Non-Residential
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered DuPont de Nemours, Inc., American Elements Corporation, Merck KGaA, NovoPolymers NV, Hangzhou First Applied Material Co., Ltd., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Photovoltaic Materials Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Photovoltaic Materials Historical Market (2016-2020) 
    8.3    Global Photovoltaic Materials Market Forecast (2021-2026)
    8.4    Global Photovoltaic Materials Market by Material
        8.4.1    Polycrystalline Silicon
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Monocrystalline Silicon
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Cadmium Telluride
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Copper Indium Gallium Selenide (CIGS)
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Others
    8.5    Global Photovoltaic Materials Market by Product
        8.5.1    Front Sheet
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Encapsulant
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Back Sheet
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Others
    8.6    Global Photovoltaic Materials Market by Application
        8.6.1    Utility
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Residential
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Non-Residential
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
    8.7    Global Photovoltaic Materials Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (854140)

    12.1    Major Exporting Countries
        12.1.1    By Value
        12.1.2    By Volume
    12.2    Major Importing Countries
        12.2.1    By Value
        12.2.2    By Volume
13    Price Analysis
    13.1    North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.2    Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.3    Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.4    Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.5    Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    DuPont de Nemours, Inc.
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    American Elements Corporation
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Merck KGaA
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    NovoPolymers NV
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Hangzhou First Applied Material Co., Ltd.
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Others
15    Industry Events and Developments

 

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1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved

 

List of Figures and Tables

1.    Global Photovoltaic Materials Market: Key Industry Highlights, 2016 and 2026
2.    Global Photovoltaic Materials Historical Market: Breakup by Material (USD Billion), 2016-2020
3.    Global Photovoltaic Materials Market Forecast: Breakup by Material (USD Billion), 2021-2026
4.    Global Photovoltaic Materials Historical Market: Breakup by Product (USD Billion), 2016-2020
5.    Global Photovoltaic Materials Market Forecast: Breakup by Product (USD Billion), 2021-2026
6.    Global Photovoltaic Materials Historical Market: Breakup by Application (USD Billion), 2016-2020
7.    Global Photovoltaic Materials Market Forecast: Breakup by Application (USD Billion), 2021-2026
8.    Global Photovoltaic Materials Historical Market: Breakup by Region (USD Billion), 2016-2020
9.    Global Photovoltaic Materials Market Forecast: Breakup by Region (USD Billion), 2021-2026
10.    North America Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    North America Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Europe Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Europe Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Asia Pacific Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Asia Pacific Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Latin America Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Latin America Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Middle East and Africa Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2016-2020
19.    Middle East and Africa Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2021-2026
20.    Major Importing Countries by Volume (2020)
21.    Major Exporting Countries by Volume (2020)
22.    Major Importing Countries by Value (2020)
23.    Major Exporting Countries by Value (2020)
24.    North America Historical Price Trends and Forecast 2016-2026
25.    Europe Historical Price Trends and Forecast 2016-2026
26.    Asia Pacific Historical Price Trends and Forecast 2016-2026
27.    Latin America Historical Price Trends and Forecast 2016-2026
28.    Middle East and Africa Historical Price Trends and Forecast 2016-2026
29.    Global Photovoltaic Materials Market Structure

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