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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Increased Investments in Sustainable Energy Generation to Augment the Growth of the Global Photovoltaic Materials Industry
With the rising eco-consciousness worldwide, fuelled by the rapidly increasing pollution levels, consumers are steadily investing in renewable energy resources. At the same time, governments are investing in the development of sustainable energy generation plants and the deployment of renewable energy across industries to reduce carbon emissions. In addition, technological innovations such as tandem and perovskite technologies are enhancing the efficiency of traditional silicon solar cells. Moreover, new cell structure architecture such as passive emitter and rear cells are increasingly being adopted, as they are compatible with emerging technological innovations such as half-cut cells. Furthermore, growing investments in the research and development of prototypes of advanced PV cells in order to increase their capacity as well as utility are estimated to boost the industry growth in the forecast period.
Photovoltaic Materials Market Report Snapshots
Photovoltaic Materials Market Size
Photovoltaic Materials Market Share
Photovoltaic Materials Market Growth
Photovoltaic Materials Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 31.77 billion.
The market is projected to grow at a CAGR of 14% between 2024 and 2032.
The increasing demand for PV cells in residential applications, the development of smart and green cities, and decreasing prices of photovoltaic cells are the major drivers of the market.
The key trends supporting the market include growing investments in sustainable energy generation and the research and development of prototypes of advanced PV cells.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major materials considered in the market report include polycrystalline silicon, monocrystalline silicon, cadmium telluride, and copper indium gallium selenide (CIGS), among others.
The significant products include front sheet, encapsulant, and back sheet, among others.
The various applications of the product include utility, residential, and non-residential.
The major photovoltaic materials market players are DuPont de Nemours, Inc., American Elements Corporation, Merck KGaA, NovoPolymers NV, and Hangzhou First Applied Material Co., Ltd., among others.
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