Press Release / Environment / Global Solar Backsheet Market Trend Survey and Prospects Report 2023

Global Solar Backsheet Market Trend Survey and Prospects Report 2023

The global Solar Backsheet Market is projected to grow at a CAGR of 7.02%, from 2018 to 2023, to reach a market size of USD 2.40 Billion by 2023, from an estimated market size of USD 1.71 Billion in 2018. The global market growth is driven by increasing global solar PV installations as well as policy support from governments to enable the adoption of renewable technologies, coupled with the rising need to reduce carbon emissions.

The report segments the Solar Backsheet Market, by application, into utility, industrial, commercial, residential, and military. The utility segment is expected to be the largest market. This segment is driven mainly by the global increase in installations of solar power plants, both for utility and distributed power generation applications, to meet the global power demand.

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The report segments the Solar Backsheet Market, by installation, into roof-mounted, ground-mounted, and floating power plant. The floating power plant market is expected to grow at the highest CAGR during the forecast period. The growth of the market can be attributed to the ability of these plants to generate more power due to the cooling nature of water. Floating power plants also solve land constraints issues, which is a major hurdle in ground-mounted solar installations.

The Solar Backsheet Market has been further segmented, based on type, into fluoropolymer and non-fluoropolymer. The non-fluoropolymer segment is expected to grow at the fastest rate during the forecast period. This growth can be attributed to its cost-effectiveness as compared to fluoropolymer-based backsheet.

In this report, the Solar Backsheet Market has been analyzed with respect to 4 regions, namely, North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is projected to dominate the global Solar Backsheet Market during the forecast period due to the significant increase in solar PV installation in China and India. China is the largest market in Asia Pacific and is heavily investing in solar PV to reduce carbon emissions and fulfill its power needs. Asia Pacific is also expected to be the fastest-growing market, followed by North America.

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Some of the leading players in the Solar Backsheet Market include Cybrid (China), Jolywood (China), Coveme (Italy), Krempel (Germany), and Hangzhou First (China). Contracts & agreements was the most common strategy adopted by top players, followed by investments and expansions.

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