Market Size of Asia Pacific Solar Backsheet Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Solar Backsheet Market Analysis
The Asia-Pacific solar backsheet is projected to register a CAGR of over 15% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.
- Over the medium term, factors such as supportive government policies and efforts to meet power demand using renewable energy sources are expected to create a favorable market for solar panels as well as for solar backsheets.
- On the other hand, the availability of pure silicon to make solar PV cells is one of the major restraints on the market. Although silicon dioxide is plentiful, it requires considerable energy to remove oxygen from the compound to produce pure silicone.
- Nevertheless, as consumers in developing and underdeveloped countries are more likely to provide off-grid electricity to remote places and islands, solar projects, especially off-grid projects, may provide a significant opportunity for the market.
- China is expected to dominate the market with various upcoming solar panel installation projects, along with encouraging government policies to develop renewable energy sources.
APAC Solar Backsheet Industry Segmentation
A solar backsheet, which is generally composed of a polymer or a combination of polymers, covers the back of solar PV modules. This layer serves the main purpose of providing electrical isolation between the internal circuitry and the external environment.
The Asia-Pacific solar backsheet market is segmented by type and geography. By type, the market is segmented into fluoropolymer and non-fluoropolymer. The report also covers the market size and forecasts for the solar backsheet market across the countries in the region. For each segment, the market size and forecasts have been done based on revenue (USD billion).
| Type | |
| Fluoropolymer | |
| Non-fluoropolymer |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia Pacific Solar Backsheet Market Size Summary
The Asia-Pacific solar backsheet market is poised for significant growth, driven by supportive government policies and a shift towards renewable energy sources to meet rising power demands. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is expected to continue expanding. The region's focus on solar energy, particularly in countries like China and India, is a key factor in this growth. China, with its substantial solar PV installations and government initiatives to boost solar energy penetration, is anticipated to lead the market. The demand for solar backsheets, especially fluoropolymer variants, is expected to rise as these materials offer enhanced durability and resistance to environmental factors, making them suitable for various solar energy projects.
The market landscape is characterized by a fragmented structure with several key players, including Toyo Aluminium KK, Taiflex Scientific Co. Ltd, and Toray Industries Inc. These companies are instrumental in supplying materials essential for solar panel production. The increasing adoption of solar energy in countries like South Korea and Australia, supported by state-level policies and investments, further bolsters the market. Additionally, initiatives such as India's performance-linked incentive scheme aim to enhance domestic manufacturing capabilities for solar components, including backsheets. This strategic focus on expanding renewable energy infrastructure and manufacturing capacity is expected to sustain the growth trajectory of the solar backsheet market in the Asia-Pacific region over the forecast period.
Asia Pacific Solar Backsheet Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Fluoropolymer
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2.1.2 Non-fluoropolymer
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2.2 Geography
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2.2.1 China
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2.2.2 India
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2.2.3 Japan
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2.2.4 South Korea
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2.2.5 Rest of Asia-Pacific
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Asia Pacific Solar Backsheet Market Size FAQs
What is the current Asia Pacific Solar Backsheet Market size?
The Asia Pacific Solar Backsheet Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Solar Backsheet Market?
Toyo Aluminium K.K., Taiflex Scientific Co. Ltd., Hangzhou First Applied Material Co.,Ltd, Toray Industries, Inc and ZTT International Limited are the major companies operating in the Asia Pacific Solar Backsheet Market.
