Solar Encapsulation Market Analysis

Material (Ethylene Vinyl Acetate, Thermoplastic polyurethane (TPU), Ionomers, Polydimethylsiloxane, Polyvinyl Butyral, Polyolefin)

The ethylene vinyl acetate segment in the solar encapsulation market is estimated to gain the largest revenue share of 38.1% by 2036. EVA is the most widely used encapsulant in solar panels. Nearly 80% of photovoltaic (PV) modules are encapsulated by EVA materials. It provides a protective layer that enhances the durability and performance of solar cells by protecting them from environmental factors like moisture and UV radiation. EVA’s adhesive properties ensure strong bonding between solar cells and the protective glass or backsheet, contributing to higher efficiency and longer lifespans of solar panels. Moreover, it is relatively cost-effective compared to other encapsulation materials thus, supporting the growth and development of the market.

Technology (Crystalline Silicon Solar, Thin-film Solar, Cadmium-telluride (CDTE), Copper-indium-gallium-selenide (CIGS), Amorphous silicon (A-Si))

Throughout the projected period, the crystalline silicon solar segment in the solar encapsulation market is foreseen to register a significant CAGR. Crystalline silicon technology, including monocrystalline and polycrystalline solar panels, is the most prevalent type of solar technology used globally. This dominance ensures a consistent and high demand for encapsulation materials to protect these panels.  As the adoption of crystalline silicon technology expands, particularly in emerging markets and large-scale solar installations, the need for effective encapsulation solutions grows.

End user (Construction, Automotive, Electronics, Ground-mounted, Building-integrated Photovoltaic, Rooftop Solar, Floating Photovoltaic)

By the end of 2036, the rooftop solar segment is predicted to hold substantial share of the global solar encapsulation market. Rooftop solar installations are becoming increasingly popular for residential and commercial buildings as homeowners and businesses seek to reduce energy costs and carbon footprints. This growth translates into higher demand for solar panels and, consequently, encapsulation materials. According to IEA, the number of global households relying on rooftop solar PV is estimated to grow from 25 million in 2022 to more than 100 million by 2030.

Our in-depth analysis of the solar encapsulation market includes the following segments: