Los Angeles, November 27, 2019 – QY Research has released a new market research report, titled “Global Solar Backsheet Forecast & Opportunities 2019”. As per the market findings provided in the report, the global solar backsheet market is predicted to grow at a robust CAGR of more than 6% during the forecast period 2019-2025. By 2025, the global solar backsheet market is likely to earn more than US$2800 mn as compared to US$1900 mn in 2018.
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Changing Perspectives toward Renewab le Technologies Expected to Boost Market
A solar backsheet plays a critical role in safeguarding solar panel installations. They are used in PV modules for protecting the cells and electrical modules. As solar backsheet is the outermost part of a PV module, it is constantly subjected to challenging weather conditions. Thus, picking the right solar backsheet is essential to creating a sustainable solar project. The flourishing construction industry, against the backdrop of unchecked urbanization, is expected to bode well for this market. Several builders are focusing on erecting green buildings, which is projected to positively influence the sales of solar backsheets in the forecast period. In addition, shift of commercial buildings towards delivering green experience to the end users is also drive the growth of global solar backsheet market.
Government initiatives to promote renewable energy technologies, growing emphasis on reduction of carbon emissions, and rising investments in research and development are expected to boost the global solar backsheet market in the near future.
Asia Pacific will Occupy Remarkable Market Share in the Solar Backsheet
Asia Pacific is estimated to grab significant market share in the global solar backsheet market as installations of the solar photovoltaic panels for generating electric energy is focus across developing economies. Increasing investments in emerging nations such as China and India to generate electric energy and make it accessible to remote places is further expected to drive the market growth. North America is also likely to expand the solar backsheet market due to its high efficiency, cost-effective, and eco-friendly nature.
Non-fluoropolymer Segment to Lead Global Solar Backsheet Market
The global solar backsheet market is segmented into application and product type. The application segment includes ground-mounted and roof-mounted. The product type segment includes non-fluoropolymer and fluoropolymer. The non-fluoropolymer segment is expected to be the largest segment in the global solar backsheet market due to its cost-effectiveness as compared to fluoropolymer solar backsheet.
Key Players Having a Strong Foothold in the Solar Backsheet Market
Vishakha Renewables, Cybrid Technologies, SFC, Jolywood, HuiTian, Coveme, Ventura, Luckyfilm, Toyal, Taiflex, Krempel GmbH, Toppan, Hangzhou First PV Material, Zhongtian Technologies Group, Fujifilm, and Crown Advanced Material are the top players that are operating in the global solar backsheet market. Companies are taking up various strategic initiatives such as technological advancements, partnerships, mergers and acquisitions, and product innovation to increase their visibility in the market.
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