Global Solar PV Backsheet Market to Grow with a CAGR of 7.1% During 2022-2031; Growing Deployment of Solar Farms to Drive Market Growth
Kenneth Research published a report titled “Solar PV Backsheet Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global solar PV backsheet market in terms of market segmentation by type, installation, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global solar PV backsheet market is anticipated to grow with a CAGR of 7.1% during the forecast period, i.e., 2022 – 2031. The market is segmented by type into non-fluoropolymer, single fluoropolymer, and double fluoropolymer, out of which, the single-fluoropolymer segment is anticipated to garner the largest revenue of USD 1976.4 Million by the end of 2031. Moreover, in the year 2021, the segment registered a revenue of USD 1049.6 Million.
The global solar PV backsheet market is estimated to garner a revenue of USD 4898.8 Million by the end of 2031, up from a revenue of USD 2478.8 Million in the year 2021. Increasing deployment of solar farms, along with the growing initiatives towards achieving Net Zero Scenario, are some of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, the global solar PV backsheet market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Out of these, the market in the Asia Pacific is anticipated to garner the largest revenue of USD 2895.7 Million by the end of 2031. Moreover, in the year 2021, the market in the region registered a revenue of USD 1532.7 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Deployment of Solar Panels Worldwide to Drive Market Growth
Between the year 2010 and 2020, according to the statistics by the International Renewable Energy Agency (IRENA), the total installed capacity for solar energy increased from 40334 MW to 709674 MW respectively.
The surge in the adoption of solar energy worldwide, backed by the rising focus of the government of nations to shift towards renewable energy sources, is expected to drive the demand for solar panels globally, and in turn, raise the raise the need for solar PV backsheets amongst the solar panel manufacturers. Such a factor is anticipated to drive the growth of the market in the coming years.
However, the concern for failure of complete PV module in case of ineffective backsheet is expected to operate as key restraint to the growth of global solar PV backsheet market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global solar PV backsheet market which includes company profiling of Cybrid Technologies Inc., DuPont de Nemours, Inc., Targray Technology International Inc., COVEME s.p.a., Toyo Aluminium K.K., TORAY INDUSTRIES INC., DUNMORE, KREMPEL GmbH, TAIFLEX Scientific Co. Ltd., HANGZHOU FIRST APPLIED MATERIAL CO. LTD., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global solar PV backsheet market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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