Market Trends of Solar Backsheet Industry
This section covers the major market trends shaping the Solar Backsheet Market according to our research experts:
Fluoropolymer is Expected to Become a Significant Segment
- Fluoropolymer solar backsheet consists of three layers: inner, middle, and outer layer, which is attached to the outermost layer of a solar panel. The inner and outer layer of the solar backsheet is primarily made of polyvinyl fluoride (PVF) or polyvinylidene fluoride (PVDF). In contrast, the middle layer consists of polyethylene terephthalate (PET or polyester).
- In 2020, fluoropolymer backsheet had a majority of the market share. The fluoropolymer backsheet is costlier than non-fluoropolymer due to its additional safety features like proven hydrolytic stability and excellent resistance to weathering effects in various conditions with PVF or PVDF layer.
- According to SolarPower Europe, over the past decade, between 2011 and 2020, solar power increased rapidly from 30.13 GW in 2011 to 138.2 GW in 2020, primarily aided by utility-scale projects and the fluoropolymer solar backsheet market.
- In 2021, Bharat Electricronics Limites, an Indian state-owned company, invited companies for a 2.86 MW of grid-connected solar power projects in Amravati and Akola in Maharashtra. In addition, as per the tender document, the solar backsheet should have three-layered structures. The inner layer of fluoropolymer should be a UV-resistant polymer, the middle layer should be polyester-based, and the outer layer should be fluoropolymer.
- Hence, with additional benefits than non-fluoropolymer, the segment is likely to have high adoption in solar energy projects. Further, mass production is expected to reduce the price and boost the segment during the forecast period.
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Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the market. According to the British Petroleum Statistical Review of World Energy 2021, Asia-Pacific generated the majority of solar power compared to all regions.
- China is estimated to be the major country in the region, with approximately 175 GW of solar PV installations. It is expected to double its installation capacity by 2025, which is expected to boost the backsheet market during the forecast period.
- Tengger Desert Solar Park, China (1,547MW), Yanchi Ningxia Solar Park, China (1,000MW), Datong Solar Power Top Runner Base, China (1,070MW), Kurnool Ultra Mega Solar Park, India (1,000MW), Longyangxia Dam Solar Park, China (850MW), and Kamuthi Solar Power Station, India (648MW) are the major existing key projects in the region with high uses of backsheet.
- Further, the region has several upcoming projects like the Xiangyang Solar PV Power Plant. The power plant is 100 MW, started construction in Q3 2021, and is expected to be completed by the fourth quarter of 2022. Similarly, many utility-scale solar projects are under construction, driving the solar backsheet market in the region.
- China will remain a renewable energy leader in 2022 due to the phasing out of coal energy plants and ambitious climate targets. In addition, according to IEA, solar photovoltaic energy is expected to break targets in 2022, with an annual addition of 162 gigawatts. Thus, Asia-Pacific will dominate the market.
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