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Global Photovoltaic Materials Market to Grow at a CAGR of 14% During 2024-2032, Aided by the Increased Government Expenditure on Sustainable Energy Generation

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Photovoltaic Materials Market

Global Photovoltaic Materials Market Size, Share, Forecast: By Material: Polycrystalline Silicon, Monocrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide (CIGS), Others; By Product: Front Sheet, Encapsulant, Back Sheet, Others; By Application: Utility, Others; Regional Analysis; Competitive Landscape; 2024-2032

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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    Opportunities and Challenges in the Market
8    Global Photovoltaic Materials Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Photovoltaic Materials Historical Market (2018-2023) 
    8.3    Global Photovoltaic Materials Market Forecast (2024-2032)
    8.4    Global Photovoltaic Materials Market by Material
        8.4.1    Polycrystalline Silicon
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Monocrystalline Silicon
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Cadmium Telluride
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Copper Indium Gallium Selenide (CIGS)
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Photovoltaic Materials Market by Product
        8.5.1    Front Sheet
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Encapsulant
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Back Sheet
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Photovoltaic Materials Market by Application
        8.6.1    Utility
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Residential
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Non-Residential
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global Photovoltaic Materials Market by Region     
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Photovoltaic Materials Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Photovoltaic Materials Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5   Others
11    Asia Pacific Photovoltaic Materials Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Photovoltaic Materials Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Photovoltaic Materials Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis (HS Code-854140)
16    Trade Data Analysis 
    16.1    Major Exporting Countries
        16.1.1    By Value
        16.1.2    By Volume
    16.2    Major Importing Countries
        16.2.1    By Value
        16.2.2    By Volume 
17    Price Analysis
    17.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    17.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18    Competitive Landscape
    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    DuPont de Nemours, Inc.
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    American Elements Corporation
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Merck KGaA
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    NovoPolymers NV
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Hangzhou First Applied Material Co., Ltd.
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Others
19    Key Trends and Developments in the Market

 

Additional Customisations Available

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

 

List of Key Figures and Tables

1.    Global Photovoltaic Materials Market: Key Industry Highlights, 2018 and 2032
2.    Global Photovoltaic Materials Historical Market: Breakup by Material (USD Billion), 2018-2023
3.    Global Photovoltaic Materials Market Forecast: Breakup by Material (USD Billion), 2024-2032
4.    Global Photovoltaic Materials Historical Market: Breakup by Product (USD Billion), 2018-2023
5.    Global Photovoltaic Materials Market Forecast: Breakup by Product (USD Billion), 2024-2032
6.    Global Photovoltaic Materials Historical Market: Breakup by Application (USD Billion), 2018-2023
7.    Global Photovoltaic Materials Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.    Global Photovoltaic Materials Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Photovoltaic Materials Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
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 2018-2028
25.    Europe Historical Price Trends and Forecast 2018-2028
26.    Asia Pacific Historical Price Trends and Forecast 2018-2028
27.    Latin America Historical Price Trends and Forecast 2018-2028
28.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
29.    Global Photovoltaic Materials Market Structure

Key Questions Answered in the Report

What was the global photovoltaic materials market size in 2023?

In 2023, the market attained a value of nearly USD 31.77 billion.

What is the growth rate of the global photovoltaic materials market?

The market is projected to grow at a CAGR of 14% between 2024 and 2032.

What are the major market drivers?

The increasing demand for PV cells in residential applications, the development of smart and green cities, and decreasing prices of photovoltaic cells are the major drivers of the market.

What are the key trends of the market?

The key trends supporting the market include growing investments in sustainable energy generation and the research and development of prototypes of advanced PV cells.

What are the major regional markets of photovoltaic materials, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major materials considered in the market report?

The major materials considered in the market report include polycrystalline silicon, monocrystalline silicon, cadmium telluride, and copper indium gallium selenide (CIGS), among others.

What are the significant products available in the market?

The significant products include front sheet, encapsulant, and back sheet, among others.

What are the various applications of photovoltaic materials?

The various applications of the product include utility, residential, and non-residential.

Who are the key market players, according to the report?

The major photovoltaic materials market players are DuPont de Nemours, Inc., American Elements Corporation, Merck KGaA, NovoPolymers NV, and Hangzhou First Applied Material Co., Ltd., among others.

Analyst Review

The global photovoltaic materials market attained a value of USD 31.77 billion in 2023, driven by the escalating eco-consciousness among the consumers. Aided by rising investments in the development of sustainable energy generation and developing public infrastructure such as the development of smart and green cities, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 14%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By material, the market can be distributed into polycrystalline silicone, monocrystalline silicon, cadmium telluride, and copper indium gallium selenide (CIGS), among others. On the basis of product, the industry can be segmented into sheet, encapsulant, and back sheet, among others. The market can be categorised, based on application, into utility, residential and non-residential. The major regional markets for photovoltaic materials are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include DuPont de Nemours, Inc., American Elements Corporation, Merck KGaA, NovoPolymers NV, and Hangzhou First Applied Material Co., Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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