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From its 2022 valuation of USD 23.25 billion, the global photovoltaic materials market is expected to increase at a CAGR of 9.4% from 2023's USD 26.8 billion to 2030's USD 55.89 billion.
Rising interest in solar power's viability as a sustainable energy option has led to rapid expansion of the worldwide photovoltaic materials market. The increasing use of photovoltaic systems in residential, commercial, and utility settings is the primary factor propelling the industry forward. Silicon, cadmium telluride, and copper indium gallium selenide are all examples of photovoltaic materials that are vital to the process of converting sunlight into electricity. Improvements in materials technology, such as the creation of novel materials with enhanced efficiency and durability, are being seen in the marketplace. The expansion of the solar energy sector is being helped along by government regulations and incentives that encourage its use. As solar energy becomes more widely adopted and affordable, the global market for photovoltaic materials is projected to continue its ascent in the coming years.
classification system
Silicon-based products are the industry standard among these categories. The efficiency and dependability of silicon-based solar cells have led to their widespread use. Silicon materials are well suited for large-scale solar energy projects due to their high electrical conductivity and stability. The thin-film materials segment of the photovoltaic materials market is expanding at a faster rate than any other testing type. The benefits of thin-film materials are their adaptability, portability, and low production costs. They have a wide range of potential uses, from stationary photovoltaic systems to mobile ones. The demand for thin-film photovoltaic materials is predicted to increase dramatically over the next few years, thanks to developments in thin-film technology and rising R&D spending.
Drivers
Promoting Widespread Use of Alternative Energy Sources
In order to keep up with the world's ever-increasing energy demands, more and more people are turning to solar power and other renewable energy sources. There has been a rise in the installation of solar photovoltaic (PV) systems due to the efforts of governments and organizations throughout the world to reduce carbon emissions and promote clean energy generation. Because of this, photovoltaic materials including solar cells, modules, and other related components are in high demand.
Restraints
The Exorbitant Price of PV Technology
However, PV technology costs are a hindrance to the worldwide photovoltaic materials industry. The initial expenditure necessary to build solar power systems can still be rather substantial, despite the fact that the prices of solar panels and PV systems have reduced significantly over the years. This is a problem in areas where financial resources are scarce or where alternative energy sources are more cost-effective. Furthermore, the profitability and cost-effectiveness of PV projects can be affected by the shifting pricing of raw materials used in photovoltaic materials, such as silicon.
Key Market Developments
Increasing usage of next-generation and sophisticated materials for solar cell manufacture is a prominent market trend in the global photovoltaic materials market. There is a rising need for photovoltaic materials that provide more efficiency, durability, and cost-effectiveness as the solar energy sector expands and develops. Perovskite-based materials, organic photovoltaics, and thin-film technologies are just a few examples of the cutting-edge technologies that manufacturers are working to perfect and bring to market. When compared to conventional silicon-based materials, the efficiency, adaptability, and lightweight nature of these cutting-edge alternatives are remarkable. In order to improve solar cell performance, lower production costs, and investigate new opportunities for integrating solar energy generation into a wide range of applications, there has been a shift towards advanced photovoltaic materials.
Report Coverage
Global Photovoltaic Materials research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Photovoltaic Materials report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Photovoltaic Materials competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Photovoltaic Materials market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Photovoltaic Materials market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Photovoltaic Materials market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DuPont (United States), Shin-Etsu Chemical Co., Ltd. (Japan), Wacker Chemie AG (Germany), Hanwha Chemical Corporation (South Korea), Dow Chemical Company (United States), LG Chem Ltd. (South Korea), Heraeus Holding GmbH (Germany), Targray Technology International Inc. (Canada), Covestro AG (Germany), Mitsubishi Chemical Corporation (Japan), First Solar, Inc. (United States), Huntsman Corporation (United States), Saint-Gobain (France), AGC Inc. (Japan), Hanergy Thin Film Power Group Ltd. (China), JinkoSolar Holding Co., Ltd. (China), LONGi Green Energy Technology Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), Trina Solar Limited (China), Yingli Green Energy Holding Company Limited (China)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Photovoltaic Materials market based on the below-mentioned segments:
Global Photovoltaic Materials Market, By Type
Silicon
thin-film materials
Global Photovoltaic Materials market, Regional Analysis
Rising interest in solar power's viability as a sustainable energy option has led to rapid expansion of the worldwide photovoltaic materials market. The increasing use of photovoltaic systems in residential, commercial, and utility settings is the primary factor propelling the industry forward. Silicon, cadmium telluride, and copper indium gallium selenide are all examples of photovoltaic materials that are vital to the process of converting sunlight into electricity. Improvements in materials technology, such as the creation of novel materials with enhanced efficiency and durability, are being seen in the marketplace. The expansion of the solar energy sector is being helped along by government regulations and incentives that encourage its use. As solar energy becomes more widely adopted and affordable, the global market for photovoltaic materials is projected to continue its ascent in the coming years.
classification system
Silicon-based products are the industry standard among these categories. The efficiency and dependability of silicon-based solar cells have led to their widespread use. Silicon materials are well suited for large-scale solar energy projects due to their high electrical conductivity and stability. The thin-film materials segment of the photovoltaic materials market is expanding at a faster rate than any other testing type. The benefits of thin-film materials are their adaptability, portability, and low production costs. They have a wide range of potential uses, from stationary photovoltaic systems to mobile ones. The demand for thin-film photovoltaic materials is predicted to increase dramatically over the next few years, thanks to developments in thin-film technology and rising R&D spending.
Drivers
Promoting Widespread Use of Alternative Energy Sources
In order to keep up with the world's ever-increasing energy demands, more and more people are turning to solar power and other renewable energy sources. There has been a rise in the installation of solar photovoltaic (PV) systems due to the efforts of governments and organizations throughout the world to reduce carbon emissions and promote clean energy generation. Because of this, photovoltaic materials including solar cells, modules, and other related components are in high demand.
Restraints
The Exorbitant Price of PV Technology
However, PV technology costs are a hindrance to the worldwide photovoltaic materials industry. The initial expenditure necessary to build solar power systems can still be rather substantial, despite the fact that the prices of solar panels and PV systems have reduced significantly over the years. This is a problem in areas where financial resources are scarce or where alternative energy sources are more cost-effective. Furthermore, the profitability and cost-effectiveness of PV projects can be affected by the shifting pricing of raw materials used in photovoltaic materials, such as silicon.
Key Market Developments
Increasing usage of next-generation and sophisticated materials for solar cell manufacture is a prominent market trend in the global photovoltaic materials market. There is a rising need for photovoltaic materials that provide more efficiency, durability, and cost-effectiveness as the solar energy sector expands and develops. Perovskite-based materials, organic photovoltaics, and thin-film technologies are just a few examples of the cutting-edge technologies that manufacturers are working to perfect and bring to market. When compared to conventional silicon-based materials, the efficiency, adaptability, and lightweight nature of these cutting-edge alternatives are remarkable. In order to improve solar cell performance, lower production costs, and investigate new opportunities for integrating solar energy generation into a wide range of applications, there has been a shift towards advanced photovoltaic materials.
Report Coverage
Global Photovoltaic Materials research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Photovoltaic Materials report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Photovoltaic Materials competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Photovoltaic Materials market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | DuPont (United States), Shin-Etsu Chemical Co., Ltd. (Japan), Wacker Chemie AG (Germany), Hanwha Chemical Corporation (South Korea), Dow Chemical Company (United States), LG Chem Ltd. (South Korea), Heraeus Holding GmbH (Germany), Targray Technology International Inc. (Canada), Covestro AG (Germany), Mitsubishi Chemical Corporation (Japan), First Solar, Inc. (United States), Huntsman Corporation (United States), Saint-Gobain (France), AGC Inc. (Japan), Hanergy Thin Film Power Group Ltd. (China), JinkoSolar Holding Co., Ltd. (China), LONGi Green Energy Technology Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), Trina Solar Limited (China), Yingli Green Energy Holding Company Limited (China) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Photovoltaic Materials Market from 2021 to 2030.
- Market Forecast for Photovoltaic Materials Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Photovoltaic Materials competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Photovoltaic Materials
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Photovoltaic Materials market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Photovoltaic Materials market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DuPont (United States), Shin-Etsu Chemical Co., Ltd. (Japan), Wacker Chemie AG (Germany), Hanwha Chemical Corporation (South Korea), Dow Chemical Company (United States), LG Chem Ltd. (South Korea), Heraeus Holding GmbH (Germany), Targray Technology International Inc. (Canada), Covestro AG (Germany), Mitsubishi Chemical Corporation (Japan), First Solar, Inc. (United States), Huntsman Corporation (United States), Saint-Gobain (France), AGC Inc. (Japan), Hanergy Thin Film Power Group Ltd. (China), JinkoSolar Holding Co., Ltd. (China), LONGi Green Energy Technology Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), Trina Solar Limited (China), Yingli Green Energy Holding Company Limited (China)
Primary Target Market
- Market Players of Photovoltaic Materials
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Photovoltaic Materials market based on the below-mentioned segments:
Global Photovoltaic Materials Market, By Type
Silicon
thin-film materials
Global Photovoltaic Materials market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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