The solar photovoltaic (PV) backsheet market is estimated to grow at a CAGR of 9.97% over the forecast period to reach US$2,385.411 million by 2024, from US$1,348.648 million in 2018. Rising solar PV installation is the major driver of the solar PV back sheet market. Growing focus on the renewable energy sector due to rising electricity prices and environmental sustainability concerns is driving the installation of solar panels which, in turn, is propelling the growth of the solar PV back sheet market. Furthermore, the declining cost of solar panels is further augmenting the use of solar energy, thus positively impacting the growth of the solar PV back sheet market. While favorable government initiatives and policies to encourage the use of solar energy will continue to support the growth of the solar PV back sheet market in the coming years.
The solar photovoltaic (PV) back sheet market has been segmented on the basis of Type, Installation, Application, and Geography. Fluoropolymer will hold a significant share on account of low cost as compared to others. Further, by installation, the floating system will show substantial growth during the forecast period owing to the decreasing land availability across the globe. Geographically, the market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. Asia-Pacific will dominate the market for solar back sheets owing to the significant increase in the installation of solar panels in countries like India and China coupled with rising investments in the region.
Increasing adoption of solar panels.
Favourable government policies.
High installation cost.
The major players profiled in the solar photovoltaic (PV) backsheet market include Krempel Gmbh, DuPont, Targray, Bio Solar Inc., Dunmore, 3M, Coveme, Toray Industries Inc., Cybrid Technologies, DSM, and Jolywood (Suzhou).
The solar photovoltaic (PV) backsheet market has been analyzed through the following segments:
Middle East and Africa