Photovoltaic Backsheet Market Growth to be Fueled by Rising Usage of Solar PV Module & Efficient Administration Policies Across Developing Countries Till 2028 | Million Insights

Photovoltaic Backsheet Market Growth to be Fueled by Rising Usage of Solar PV Module & Efficient Administration Policies Across Developing Countries Till 2028 | Million Insights

PR Newswire

FELTON, California, January 17, 2019

FELTON, California, January 17, 2019 /PRNewswire/ --

Global Photovoltaic Backsheet Market is anticipated to witness an exponential growth in the forecast period. Photovoltaic (PV) backsheet constitutes the outermost layer of the PV module assembly and is one of the most critical materials used in the solar PV module assembly. The PV backsheet is designed to defend the inner constituents of the component. The photovoltaic backsheet material is covered with an encapsulant on the solar cell. The factors that propel the growth of the photovoltaic backsheet market include growing demand for photovoltaic backsheet in the industry, technological advancement, ongoing development of the photovoltaic industry, satisfactory regulatory schemes and initiatives, reduced production price, efficient administration policies, and increasing investments from funding groups organized by local establishments across developing countries. On the other hand, the factor that may hamper the growth of the market includes high cost of material. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Market could be explored by cell type, material, type, application, sale channel and geography. Market by cell type could span photovoltaic (PV) and thin film solar cells. Based on material, the market could span fluoride and non-fluoride. The photovoltaic backsheet market could be explored based on type as Fluoropolymer and Non-Fluoropolymer. The "Fluoropolymer" segment led the market in 2017 and will continue to lead in the forecast period. The key factors attributed to the growth of market include higher efficiency, increasing acceptance, increasing manufacturing productivities and better insulation properties. The key applications that could be explored in the market include Industrial, Utility, Residential, Commercial and Military. Based on sales channel, the market could span Direct Channel and Distribution Channel. The "Direct Channel" segment led the market in 2017 and will continue to lead in the forecast period.

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Europe accounted for the major share of the photovoltaic backsheet industry in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include favorable government measures to raise the acceptance of photovoltaic technology and adoption of photovoltaic units. Europe is followed by Asia-Pacific region owing to presence of economies such as India, China, Japan, Taiwan, and South Korea that are developing hotspots and hold great potential for upcoming market growth. Some of the key players that fuel the growth of the photovoltaic backsheet market comprise Dupont, Agfa, Coveme, Jolywood, Is voltaic, Hangzhou First, 3M, Honeywell, Cybrid, Toray, Dunmore, Mitsubishi Polyester Film, Krempel and Targray. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.  

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