Solar PV Backsheet Market Size

Solar PV Backsheet Market size was valued at USD 4.41 Billion in 2023 and is likely to reach USD 11.29 Billion by 2036, registering around 7.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of solar pv backsheet is estimated at USD 4.72 Billion. Rising worldwide solar PV installation, as well as the growing demand and necessity to reduce carbon emissions, are likely to drive the global solar backsheet market. In the previous nine years, installed solar energy capacity has expanded by 24.4 times, and it now stands at 66.7 GW as of May 2023 in India.

Promising expansion and development in the renewable energy industry are also projected to positively benefit the target market's growth. Another driver expected to drive solar backsheet revenue is technical improvement in solar back sheets, which will result in new product innovations. According to SolarPower Europe, solar power developed quickly over the last decade, from 30 GW in 2011 to 138 GW in 2020, mostly due to utility-scale projects and the fluoropolymer solar back sheet business.