Global Solar PV Backsheet Market Will Grow by Almost USD 2.08 Billion During 2019-2023| Technavio
LONDON--(BUSINESS WIRE)--Jan 28, 2019--Technavio has announced the release of their research report on the global solar PV backsheet market for the forecast period 2019-2023. This solar PV backsheet market analysis report segments the market by product (fluoropolymer and non-fluoropolymer) and geography (the Americas, APAC, and EMEA).
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Technavio has released a new market research report on the global solar PV backsheet market for the period 2019-2023. (Graphic: Business Wire)
Global solar PV backsheet market size will grow by almost USD 2.08 billion during 2019-2023, at a CAGR of nearly 17%. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth. The renewable energy sector across the globe has been growing significantly because of the competitive price of power generation, subsidies provided by various governments, and favorable regulations. This will boost solar power installations, which is expected to drive the demand for solar PV backsheets.
Increasing use of thin-film solar PV modules
The use of thin-film solar PV modules in building-integrated photovoltaics (BIPVs) has increased owing to their flexible nature. The BIPV systems provide high production of power as these systems maximize the surface area of the receiving solar panel. They can be installed on rooftops of buildings as floor tiles and the sides of buildings. Furthermore, thin-film solar PV modules require backsheet with high cell efficiency including properties such as improved dielectric strength, reflectance, and durability. The backsheets are required to conform at uneven structures to promote the flexibility of the module and offer a high vapor barrier to allow the efficient performance of thin-film solar PV modules. Thus, the low-cost advantage and rising conversion efficiency of thin-film solar PV modules increase solar power installation that directly contributes to the growth of the global solar PV backsheet market.
“The adoption and implementation of microgrids, declining cost of solar power generation, and a shift in focus toward renewables in APAC will contribute significantly to the growth of the solar PV backsheet market in the region. The adoption of microgrids will be primarily driven by rural electrification programs in developing countries such as India, Indonesia, and the Philippines,” says an analyst at Technavio.
Microgrids play a significant role in protecting consumers from power outages in regions that have relatively unstable power grids. Microgrids can function autonomously or operate parallelly with conventional grids and are more reliable as they are unaffected by power outages in the main grid. They also reduce the cost of extending the grid to remote locations and may also use renewable sources such as solar and wind power to generate power. The increased adoption of microgrids will increase the demand for solar PV backsheet, which will contribute to the growth of the market.
This solar PV backsheet industry research report provides an in-depth analysis of the primary drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several solar PV backsheet products manufacturers including –Arkema Cybrid Technologies DowDuPont Jolywood (Suzhou) Sunwatt KREMPEL
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including more than 100 Fortune 500 companies.
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SOURCE: Technavio Research
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PUB: 01/28/2019 11:06 AM/DISC: 01/28/2019 11:06 AM