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Global Photovoltaic Materials Market Size, Share, Forecast: By Material: Polycrystalline Silicon, Monocrystalline Silicon, Cadmium Telluride, Copper Indium Gallium Selenide (CIGS), Others; By Product: Front Sheet, Encapsulant, Back Sheet, Others; By Application: Utility, Others; Regional Analysis; Competitive Landscape; 2024-2032
Residential Segment to Occupy a Substantial Market Share of the Global Photovoltaic Materials Industry
Based on application, the residential segment is predicted to account for a significant market share in the photovoltaic materials industry. This increase can be attributed to the increased adoption of photovoltaic cells in the residential sector. The decreasing price of photovoltaic cells is a major factor contributing to the increased demand. The consumers are exceedingly adopting solar energy to meet their household electricity demands by installing photovoltaic cells on their rooftops. Moreover, many government initiatives offering tax rebates to PV cell users are further increasing its popularity among consumers. In addition, the growing consciousness pertaining to the environment is also driving consumers to increasingly invest in sustainable energy mechanisms. These aspects are predicted to bolster the market in the coming years.
The Asia Pacific to Account for a Considerable Market Share in the Global Photovoltaic Materials Industry
The Asia Pacific is estimated to hold a substantial share of the photovoltaic materials industry in the forecast period. This growth can be attributed to the growing investments in sustainable energy generation by the governments in the region. In addition, the rising disposable income levels, improved standards of living, and the prospering public infrastructure such as the development of smart and green cities are also significant factors propelling the industry growth. According to the statistics provided by the International Renewable Energy Agency, the Asia Pacific, especially China, is predicted to dominate the solar PV market in terms of installation capacity, which is expected to grow beyond 50% by 2050.
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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Photovoltaic Materials Market Analysis
8.1 Key Industry Highlights
8.2 Global Photovoltaic Materials Historical Market (2018-2023)
8.3 Global Photovoltaic Materials Market Forecast (2024-2032)
8.4 Global Photovoltaic Materials Market by Material
8.4.1 Polycrystalline Silicon
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Monocrystalline Silicon
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Cadmium Telluride
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Copper Indium Gallium Selenide (CIGS)
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Photovoltaic Materials Market by Product
8.5.1 Front Sheet
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Encapsulant
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Back Sheet
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Photovoltaic Materials Market by Application
8.6.1 Utility
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Residential
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Non-Residential
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Photovoltaic Materials Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Photovoltaic Materials Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Photovoltaic Materials Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Photovoltaic Materials Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Photovoltaic Materials Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Photovoltaic Materials Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis (HS Code-854140)
16 Trade Data Analysis
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 DuPont de Nemours, Inc.
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 American Elements Corporation
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Merck KGaA
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 NovoPolymers NV
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Hangzhou First Applied Material Co., Ltd.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Others
19 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
List of Key Figures and Tables
1. Global Photovoltaic Materials Market: Key Industry Highlights, 2018 and 2032
2. Global Photovoltaic Materials Historical Market: Breakup by Material (USD Billion), 2018-2023
3. Global Photovoltaic Materials Market Forecast: Breakup by Material (USD Billion), 2024-2032
4. Global Photovoltaic Materials Historical Market: Breakup by Product (USD Billion), 2018-2023
5. Global Photovoltaic Materials Market Forecast: Breakup by Product (USD Billion), 2024-2032
6. Global Photovoltaic Materials Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Photovoltaic Materials Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Photovoltaic Materials Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Photovoltaic Materials Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Photovoltaic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Photovoltaic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Importing Countries by Volume (2020)
21. Major Exporting Countries by Volume (2020)
22. Major Importing Countries by Value (2020)
23. Major Exporting Countries by Value (2020)
24. North America Historical Price Trends and Forecast 2018-2028
25. Europe Historical Price Trends and Forecast 2018-2028
26. Asia Pacific Historical Price Trends and Forecast 2018-2028
27. Latin America Historical Price Trends and Forecast 2018-2028
28. Middle East and Africa Historical Price Trends and Forecast 2018-2028
29. Global Photovoltaic Materials Market Structure
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.
Analyst Review
The global photovoltaic materials market attained a value of USD 31.77 billion in 2023, driven by the escalating eco-consciousness among the consumers. Aided by rising investments in the development of sustainable energy generation and developing public infrastructure such as the development of smart and green cities, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 14%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By material, the market can be distributed into polycrystalline silicone, monocrystalline silicon, cadmium telluride, and copper indium gallium selenide (CIGS), among others. On the basis of product, the industry can be segmented into sheet, encapsulant, and back sheet, among others. The market can be categorised, based on application, into utility, residential and non-residential. The major regional markets for photovoltaic materials are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include DuPont de Nemours, Inc., American Elements Corporation, Merck KGaA, NovoPolymers NV, and Hangzhou First Applied Material Co., Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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