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Photovoltaic Materials Market Analysis - Forecasts to 2025 By Material (Polycrystalline Silicon, Monocrystalline Silicon, Coppper Indium Gallium Selenide (CIGS), Cadmium Telluride), By Product (Back Sheets, Front Sheet, Encapsulant), By Application (Residential, Non-Residential, Utility), By Region (North America, Asia Pacific, Europe, Central & South America, Middle East & Africa), End-use Landscape, Vendor Landscape, and Competitor Analysis | Business Intelligence Report - Global Market Estimates
Photovoltaic Materials Market Analysis:
According to the photovoltaic materials market analysis, the market is expected to grow at a high CAGR between 2014 and 2025. The photovoltaic materials market is expected to grow rapidly due to rising installation of solar heaters and preference for clean energy. Increasing investment in this market on account of reduced dependency on fossil fuels is projected to augment market demand over the coming years.
Photovoltaic materials panels are cost effective and safe & easy to install. On average, one installation works for over 20 years. It is a sustainable option due to soaring prices and increased pressure put on fossil fuels. PV panels have found increased utilization in the residential, utilities, and non-residential sector.
Funding and initiatives taken by the government encourage the growth of the PV materials market. Natural gas and carbon emission policies have also turned the preference of industries towards solar power. Government initiatives such as Federal Tax Credit for Energy Efficiency are benefits provided to install the system.
Material Insights:
Polycrystalline silicon and monocrystalline silicon are some of the most important components in the photovoltaic materials market. The ease of manufacturing coupled with abundant availability and high efficiency is projected to increase their market demand over the coming years. Cadmium telluride and Copper Indium Gallium Selenide (CIGS) is expected to have a strong hold on the market in 2016 which is attributable to the high demand for film based solar cells based on the findings in the photovoltaic materials market analysis.
Product Insights:
Back sheets are in estimated to have significant demand due to their high usage in mounted solar panels. Back sheets are critical to improve the performance of a solar cell module.
The demand for front sheets and encapsulants is also on the rise due to growing acceptance of organic photovoltaics and dye sensitized solar cells. The absence of any other product that can substitute encapsulants is one of the reasons for its high demand. The thin film based technology is also expected to augment demand for encapsulants.
Application Insights:
Photovoltaic materials are in high demand due to growing response towards renewable energy over the past few years. In 2016, the utility segment used 68% of the total energy produced through PV panels. Natural gases emit carbon, as a result of which, solar power is considered more sustainable and safe for the environment.
Residential demand for photovoltaic materials is projected to rise due to government incentives provided for installation of renewable power solutions. However, high capital investment is projected to hamper market growth. Growing residential constructions in the Asia Pacific region is anticipated to augment demand for these technologies.
Non- residential uses of photovoltaic materials are in industries and manufacturing plants where uninterrupted supply of electricity is required. Companies are expected to increase investments in renewable power solutions in order to low operating cost and work with the emission standards prescribed by the government. Growing corporate social responsibilities and green solutions undertaken by manufacturers is projected to foster market growth. Large energy requirements in hospitality, healthcare, and institutional establishments are projected to augment demand based on the findings in the photovoltaic materials market analysis.
End-user Landscape:
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase photovoltaic over the coming years. Some leading consumers of the photovoltaic industry are Kyocera Corporation, Mitsubishi Electric Corporation, Panasonic Corporation, Ja Solar Co. Ltd, and Renesola Co. Ltd etc.
Regional Insights:
China and India have a large demand for photovoltaic materials on account of efforts undertaken by companies operating in the region to lower operating cost and emission levels. The U.S. and Canada are major markets in the North American region as a large number of households are installing PV systems. Rapid technological innovations in the solar energy sector are anticipated to drive market demand. Initiatives taken by the government to reduce carbon emissions and provide tax exemptions to the industries that use PV is expected to result in high demand in manufacturing industries based on the findings in the photovoltaic materials market analysis.
Competitor Analysis:
Innovation and R&D activities provide companies with a competitive edge in the market. Some major players operating in the market are DuPont, American Elements, 1366 Technologies Inc., Merck, and NovoPolymers NV. DuPont is one of the prominent suppliers of a wide range of photovoltaic materials such as frontsheets, encapsulants, metallizations, silicon inks, electrical and structural component, and backsheets.
1 RESEARCH METHODOLOGY
1.1 DESK RESEARCH
1.2 PRIMARY RESEARCH
1.3 ANALYSIS AND OUTPUT
1.4 FINAL OUTPUT FROM DESK AND PRIMARY RESEARCH
2 ECOSYSTEM OVERVIEW
3 TECHNOLOGICAL TRENDS IN PHOTOVOLTAIC MATERIAL MARKET
4 DEMAND AND SUPPLY MATRIX
4.1 INTRODUCTION
4.2 DEMAND SIDE ANALYSIS
4.2.1 PHOTOVOLTAIC MATERIAL MARKET: MARKET DRIVERS
4.2.2 PHOTOVOLTAIC MATERIAL MARKET: MARKET RESTRAINTS
4.2.3 PHOTOVOLTAIC MATERIAL MARKET: MARKET OPPORTUNITIES
4.2.4 PHOTOVOLTAIC MATERIAL MARKET: MARKET CHALLENGES
4.3 SUPPLY SIDE ANALYSIS
4.3.1 FUTURE SCENARIO (CAGR% VS. COUNTRY)
4.3.2 MAPPING KEY PHOTOVOLTAIC MATERIAL MANUFACTURERS
4.3.3 PORTER’S FIVE FORCES ANALYSIS
4.3.3.1 Threat of new entrants
4.3.3.2 Threat of substitutes
4.3.3.3 Bargaining power of buyers
4.3.3.4 Bargaining power of suppliers
4.3.3.5 Intensity of competitive rivalry
4.3.4 PHOTOVOLTAIC MATERIAL MARKET: TREND ANALYSIS
4.4 PESTLE ANALYSIS
4.5 IMPACT ANALYSIS
4.6 PATENT LISTING
4.7 BEHAVIOURAL ANALYSIS
4.7.1 KEY MACRO INDICATORS
4.7.2 KEY MICRO INDICATORS
5 REGULATORY FRAMEWORK
6 PHOTOVOLTAIC MATERIAL MARKET, BY MATERIAL
6.1 INTRODUCTION
6.2 POLYCRYSTALLINE SILICON
6.3 MONOCRYSTALLINE SILICON
6.4 COPPPER INDIUM GALLIUM SELENIDE (CIGS)
6.5 CADMIUM TELLURIDE
7 PHOTOVOLTAIC MATERIAL MARKET, BY PRODUCT
7.1 INTRODUCTION
7.2 BACK SHEETS
7.3 FRONT SHEET
7.4 ENCAPSULANT
8 PHOTOVOLTAIC MATERIAL MARKET, BY APPLICATION
8.1 INTRODUCTION
8.2 RESIDENTIAL
8.3 NON-RESIDENTIAL
8.4 UTILITY
9 PHOTOVOLTAIC MATERIAL MARKET, BY REGION
9.1 INTRODUCTION
9.2 NORTH AMERICA
9.2.1 BY MATERIAL
9.2.2 BY PRODUCT
9.2.3 BY APPLICATION
9.2.4 BY COUNTRY
9.2.4.1 U.S.
9.2.4.1.1 By material
9.2.4.1.2 By product
9.2.4.1.3 By application
9.3 EUROPE
9.3.1 BY MATERIAL
9.3.2 BY PRODUCT
9.3.3 BY APPLICATION
9.3.4 BY COUNTRY
9.3.4.1 Germany
9.3.4.1.1 By material
9.3.4.1.2 By product
9.3.4.1.3 By application
9.3.4.2 Spain
9.3.4.2.1 By material
9.3.4.2.2 By product
9.3.4.2.3 By application
9.4 ASIA PACIFIC
9.4.1 BY MATERIAL
9.4.2 BY PRODUCT
9.4.3 BY APPLICATION
9.4.4 BY COUNTRY
9.4.4.1 CHINA
9.4.4.1.1 By material
9.4.4.1.2 By product
9.4.4.1.3 By application
9.4.4.2 INDIA
9.4.4.2.1 By material
9.4.4.2.2 By product
9.4.4.2.3 By application
9.4.4.3 JAPAN
9.4.4.3.1 By material
9.4.4.3.2 By product
9.4.4.3.3 By application
9.5 CENTRAL & SOUTH AMERICA
9.5.1 BY MATERIAL
9.5.2 BY PRODUCT
9.5.3 BY APPLICATION
9.5.4 BY COUNTRY
9.5.4.1 BRAZIL
9.5.4.1.1 By material
9.5.4.1.2 By product
9.5.4.1.3 By application
9.6 MIDDLE EAST & AFRICA
9.6.1 BY MATERIAL
9.6.2 BY PRODUCT
9.6.3 BY APPLICATION
9.6.4 BY COUNTRY
9.6.4.1 SAUDI ARABIA
9.6.4.1.1 By material
9.6.4.1.2 By product
9.6.4.1.3 By application
10 GLOBAL PHOTOVOLTAIC MATERIAL MARKET: END-USER LANDSCAPE (CONSUMER PROFILE)
10.1 INTRODUCTION
10.2 NORTH AMERICA
10.3 EUROPE
10.4 ASIA-PACIFIC
10.5 MIDDLE EAST & AFRICA
10.6 CENTRAL & SOUTH AMERICA
11 VENDOR LANDSCAPE (SUPPLIERS/MANUFACTURERS/DISTRIBUTORS)
11.1 NORTH AMERICA
11.2 EUROPE
11.3 ASIA-PACIFIC
11.4 REST OF THE WORLD
12 COMPANY PROFILE
12.1 DUPONT
12.1.1 BUSINESS DESCRIPTION
12.1.2 FINANCIAL PERFORMANCE
12.1.3 SWOT ANALYSIS
12.1.4 PRODUCTS AND SERVICES OFFERED
12.1.5 STRATEGIC INITIATIVES
12.2 AMERICAN ELEMENTS
12.2.1 BUSINESS DESCRIPTION
12.2.2 FINANCIAL PERFORMANCE
12.2.3 SWOT ANALYSIS
12.2.4 PRODUCTS AND SERVICES OFFERED
12.2.5 STRATEGIC INITIATIVES
12.3 1366 TECHNOLOGIES INC
12.3.1 BUSINESS DESCRIPTION
12.3.2 FINANCIAL PERFORMANCE
12.3.3 SWOT ANALYSIS
12.3.4 PRODUCTS AND SERVICES OFFERED
12.3.5 STRATEGIC INITIATIVES
12.4 MERCK
12.4.1 BUSINESS DESCRIPTION
12.4.2 FINANCIAL PERFORMANCE
12.4.3 SWOT ANALYSIS
12.4.4 PRODUCTS AND SERVICES OFFERED
12.4.5 STRATEGIC INITIATIVES
12.5 NOVOPOLYMERS NV
12.5.1 BUSINESS DESCRIPTION
12.5.2 FINANCIAL PERFORMANCE
12.5.3 SWOT ANALYSIS
12.5.4 PRODUCTS AND SERVICES OFFERED
12.5.5 STRATEGIC INITIATIVES
12.6 HONEYWELL
12.6.1 BUSINESS DESCRIPTION
12.6.2 FINANCIAL PERFORMANCE
12.6.3 SWOT ANALYSIS
12.6.4 PRODUCTS AND SERVICES OFFERED
12.6.5 STRATEGIC INITIATIVES
12.7 COVEME
12.7.1 BUSINESS DESCRIPTION
12.7.2 FINANCIAL PERFORMANCE
12.7.3 SWOT ANALYSIS
12.7.4 PRODUCTS AND SERVICES OFFERED
12.7.5 STRATEGIC INITIATIVES
12.8 TARGRAY
12.8.1 BUSINESS DESCRIPTION
12.8.2 FINANCIAL PERFORMANCE
12.8.3 SWOT ANALYSIS
12.8.4 PRODUCTS AND SERVICES OFFERED
12.8.5 STRATEGIC INITIATIVES
12.9 NOVALED
12.9.1 BUSINESS DESCRIPTION
12.9.2 FINANCIAL PERFORMANCE
12.9.3 SWOT ANALYSIS
12.9.4 PRODUCTS AND SERVICES OFFERED
12.9.5 STRATEGIC INITIATIVES
12.10 FERROTEC CORPORATION (USA)
12.10.1 BUSINESS DESCRIPTION
12.10.2 FINANCIAL PERFORMANCE
12.10.3 SWOT ANALYSIS
12.10.4 PRODUCTS AND SERVICES OFFERED
12.10.5 STRATEGIC INITIATIVES
12.11 HANGZHOU FIRST APPLIED MATERIAL CO. LTD.
12.11.1 BUSINESS DESCRIPTION
12.11.2 FINANCIAL PERFORMANCE
12.11.3 SWOT ANALYSIS
12.11.4 PRODUCTS AND SERVICES OFFERED
12.11.5 STRATEGIC INITIATIVES
12.12 MITSUBISHI MATERIALS
12.12.1 BUSINESS DESCRIPTION
12.12.2 FINANCIAL PERFORMANCE
12.12.3 SWOT ANALYSIS
12.12.4 PRODUCTS AND SERVICES OFFERED
12.12.5 STRATEGIC INITIATIVES
12.13 TOPRAY SOLAR
12.13.1 BUSINESS DESCRIPTION
12.13.2 FINANCIAL PERFORMANCE
12.13.3 SWOT ANALYSIS
12.13.4 PRODUCTS AND SERVICES OFFERED
12.13.5 STRATEGIC INITIATIVES
12.14 WACKER CHEMIE
12.14.1 BUSINESS DESCRIPTION
12.14.2 FINANCIAL PERFORMANCE
12.14.3 SWOT ANALYSIS
12.14.4 PRODUCTS AND SERVICES OFFERED
12.14.5 STRATEGIC INITIATIVES
12.15 DAY STAR TECHNOLOGIES
12.15.1 BUSINESS DESCRIPTION
12.15.2 FINANCIAL PERFORMANCE
12.15.3 SWOT ANALYSIS
12.15.4 PRODUCTS AND SERVICES OFFERED
12.15.5 STRATEGIC INITIATIVES
The global photovoltaic materials market report has been studied from the year 2016 till 2025. However, the CAGR provided in the market study is from the year 2017 to 2025. The market research methods involved three stages: Desk research, Primary survey research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the photovoltaic materials market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: demand forecasting, market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing photovoltaic materials, and customer analytics.
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