Market Size of Solar Backsheet Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 15.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Solar Backsheet Market Analysis
The solar backsheet market is expected to register a CAGR of more than 15.5% during the forecast period (2022-2027). Despite the COVID-19 pandemic, the solar backsheet market grew in 2020 due to the increased installation of solar energy projects. However, the market was negatively impacted due to the temporary shutdown of manufacturing units in H1 2020. The market is expected to grow during the forecast period due to the restrictions on conventional fossil fuel energy sources and global efforts to reduce carbon emissions. In addition, the reduction in solar panel costs and associate components for a solar project has made it one of the fastest-growing renewable energy sources. However, one of the major restraints to the market is the availability of pure silicon to make solar PV cells. Although silicon dioxide is available abundantly, it requires high energy to remove oxygen from the compound to create pure silicone, thus raising the cost.
- The fluoropolymer backsheet is one of the prominent segments with the highest market share and is costlier than non-fluoropolymer. It gives better resistance to environmental damage, such as ultra-violate radiation, humidity, and vapor penetration.
- Furthermore, solar projects, especially off-grid projects, are expected to provide a significant opportunity to the market, as consumers in the developing and underdeveloped countries are likely to provide off-grid facilities to power remote places and islands with solar power.
- Asia-Pacific is expected to dominate the market with various upcoming solar panel installation projects.
