What Does the Historical and Current Solar Encapsulation Market Size Trend Indicate?
The solar encapsulation market has seen considerable growth due to a variety of factors.
• In recent times, there's been a significant expansion in the size of the solar encapsulation market. Predications show a growth from $4.18 billion in 2024 to $5.23 billion in 2025, indicating a compound annual growth rate (CAGR) of 25.1%.
Factors that fueled growth during the historic period include enhanced government incentives and subsidies for solar energy implementation, heightened awareness about environmental sustainability, an increase in the demand for renewable and clean energy sources, a dip in cost for solar energy production, as well as the rising popularity of solar PV modules.
How Will the Solar Encapsulation Market Size Evolve over the Forecast Period?
The solar encapsulation market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the solar encapsulation market is projected to undergo immense growth, hitting $11.27 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 21.2%.
This growth during the forecast period is attributed to factors such as the rapid expansion of the solar energy sector in developing economies, an increased demand for photovoltaic solar systems, the inception of transparent conductive materials, and the incorporation of energy storage solutions with solar encapsulation systems. Anticipated trends during this period encompass advancements in encapsulation materials, comprehensive research and development in advanced encapsulation materials, the creation of lightweight and flexible solar encapsulation materials, the advent of smart encapsulation technologies for instantaneous monitoring and upkeep, and customization of encapsulation materials to suit specific climatic conditions.
What Are The Core Factors Supporting Growth In The Solar Encapsulation Market?
The escalating trend for rooftop photovoltaic (PV) system installations in progressing economies is fueling the expansion of the solar encapsulation market. PV systems, which are engineered to provide usable solar power via photovoltaics and composed of an assortment of elements like solar panels for absorbing and converting sunlight into electricity, are seeing surges in usage. This is largely due to mounting environmental alarms and dwindling traditional energy sources leading to a significant shift towards renewable sources of energy like solar power, as well as the installation of PV systems, particularly rooftop PV systems within these economies. The necessity for solar encapsulation grows parallel with increasing rooftop PV components as the encapsulation process is indispensable to ensure the systems' reliability and longevity. As an example, in September 2022, the International energy agency reported that the figures of households banking on solar PV is projected to leap from 25 million today to over 100 million by 2030. Additionally, Japan's Environment and Trade Ministries are targeting to get 108 gigawatts of solar power online by 2030. This goal is 1.7 times greater than the nation's earlier aim, signifying that every structure, car park, and farm in Japan will be equipped with rooftop panels. Therefore, this surging demand for solar PV systems will naturally lead to increased demand for solar encapsulations, propelling the growth of the solar encapsulation market.
What Are The Major Segments Within The Global Solar Encapsulation Market?
The solar encapsulation market covered in this report is segmented –
1) By Material: Non-Ethylene Vinyl Acetate, UV Curable Resin, Other Materials
2) By Solar Module: Polycrystalline Silicon Cells, Cadmium Telluride, Amorphous Silicon Cells, Other Solar Modules
3) By Application: Automotive, Electronics, Other Applications
Subsegments:
1) By Non-Ethylene Vinyl Acetate (EVA): Polyolefin-Based Encapsulants, Silicone-Based Encapsulants
2) By UV Curable Resin: Epoxy Resins, Polyurethane Resins
3) By Other Materials: Thermoplastic Polyurethane (TPU), Adhesive Films, Polyamide (PA)
Pre-Book The Solar Encapsulation Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Trends Are Expected To Transform The Solar Encapsulation Market?
The rise of technological innovation is a notable trend in the solar encapsulation industry that is gaining traction. Significant players in this field are putting their efforts into launching and utilizing cutting-edge encapsulation technology for solar modules. These innovative encapsulation methods fill in the voids between solar cells and enhance the performance of PV modules by incorporating modular formats. Utilizing these superior encapsulation technologies allows businesses to expand their operations and achieve a competitive advantage. As an illustration, JA Solar Holdings, a firm based in China that specializes in solar development, unveiled the DeepBlue 4.0 X in May 2022. This new n-type PV module employs specially crafted encapsulation materials and GFI (Gapless Flexible Interconnection), a proprietary technology for high-density module encapsulation, to mitigate mechanical stress at cell junctions and minimize the risk of microcracking.
Who Are the Key Players in the Solar Encapsulation Market?
Major companies operating in the solar encapsulation market include:
• Minnesota Mining and Manufacturing Company
• Akcome Science and Technology Co. Ltd.
• STR Holding Inc.
• Bridgestone Corporation
• Dow Inc.
• Du Pont De Nemours and Company
• Trosifol India Pvt. Ltd.
• First Solar Inc.
• Ai Technology Inc.
• Celanese Corporation
• Eastman Chemical Company
• Momentive Performance Materials Inc.
• Hangzhou First PV Material Co. Ltd.
• Changzhou Sveck Technology Co. Ltd.
• Coveme SpA
• Encapsulantes de Valor Agregado S. A. de C. V.
• Eva SA
• Folienwerk Wolfen GmbH
• Guangzhou Baiyun Chemical Industry Co. Ltd.
• Henkel AG & Co. KGaA
• Hiuv New Materials Co. Ltd.
• Isovoltaic AG
• Jolywood Sunwatt Co. Ltd.
• Kansai Paint Co. Ltd.
• Krempel GmbH
• Kuraray Co. Ltd.
• Madico Inc.
• Mitsui Chemicals Inc.
• Nippon Sheet Glass Co. Ltd.
• Renolit SE
• Saint-Gobain SA
• Sekisui Chemical Co. Ltd.
• Solutia Inc.
• Taiflex Scientific Co. Ltd.
• Toppan Printing Co. Ltd.
• Toray Industries Inc.
• UBE Industries Ltd.
• Wacker Chemie AG
• Zhejiang Reisun Solar Energy Co. Ltd.
• PVB Interlayer Products Inc.
What Is The Most Dominant Region In The Solar Encapsulation Market?
Asia-Pacific was the largest region in the solar encapsulation market in 2024.The regions covered in the solar encapsulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
