Eminent participants in the solar PV backsheet market include DuPont, Isovoltaic, Coveme, Arkema, 3M, Toyo Aluminium, Madico, Hangzhou, Taiflex, Krempel, Targray, Toray, Dunmore, Astenik, and ZTT International.
Solar PV Backsheet Market size will exceed USD 2.3 billion by 2024, as reported in the latest study by Global Market Insights, Inc.
Global solar PV backsheet market is set to witness a comprehensive upsurge subject to the ongoing proliferation across the photovoltaic industry coupled with favorable regulatory anatomy. The industry in line with the national renewable integration targets along with growing consent towards environmental security has witnessed large scale unit deployments across the globe. Furthermore, rising investments from funding consortiums favored by streamlined fund flow, organized by the regulators across emerging countries will positively influence the industry outlook.
Fluoropolymers in 2016, subject to their early adoption and longevity accounted for a majority share in the global solar PV backsheet market. The products on account of its higher efficiency and better insulation properties when compared to its competitive counterparts has been a preferred choice for the developers across the globe.
Significant decline in the photovoltaic component prices on account of increasing production efficiencies has eventually escalated solar unit deployments which in turn have also edified the solar PV backsheet market size. Furthermore, exemption of duties along with tax rebated facility expansion provisioned by the regulatory bodies across developing economies further complement the industry outlook.
Middle East & Africa solar PV backsheet market is anticipated to witness substantial growth due to favorable government measures to raise the adoption of photovoltaic technology. Most of the countries have set national targets, and develop effective regulatory framework for the adoption of photovoltaic units which will further influence the business size.
Ongoing inclination towards product enhancement has led to the evolution of advance photovoltaic technologies which in turn will augment the solar PV backsheet market size. Rapid adoption of renewable technology has compelled industry players to incline their focus towards product efficiency by channelizing their investments toward technological R&D. Further, high end fund flow from World Bank, ADB and domestic financial institutions toward solar adoption and associated R&D activities have also instituted favorable business scenario.
UK solar PV backsheet market subject to favorable regulatory framework toward the integration of sustainable generation technologies is set to expand over USD 90 million by 2024. The nation in line with the provision of FiT, tax rebates and tariff reforms have gained utmost proliferation across the industry landscape. Furthermore, national plans to curb carbon emissions adhered by competitive photovoltaic tariff structure have comprehensively drifted regulatory inclination towards photovoltaic adoption.
The U.S. solar PV backsheet market has gained a comprehensive amplification in the recent years subject growing consent in line with establishing a sustainable energy mix. The industry has been rapidly maturing and solar energy has been economically competitive across the region when compared to other auxiliary energy sources. As per the DOE in 2016, photovoltaic jobs across the U.S. escalated by 123% when compared to that in November 2010, accounting for over 209,000 workers.
The Latin America solar PV backsheet market subject to levied solar tax credits, feed-in premiums, and upfront incentives is set to grow over 14% by 2024. Furthermore, simplified compensation schemes, market-based flexible incentives, soft costs, and associated investment funds will further add to the industry growth.