Solar Photovoltaic Material Market

Solar Photovoltaic Material Market (Material Type - Crystalline, Polycrystalline, Cadmium Telluride, and Copper Indium Diselenide; End User - Residential, Commercial, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Global Solar Photovoltaic Materials Market: Snapshot

The global solar photovoltaic (PV) materials market has gained significant momentum over the last few years. The rising concerns over various environmental problems, especially greenhouse gas emission and the increasing carbon footprint, have surfaced as the main factor behind the growing demand for solar PV and, consequently, solar PV materials across the world. The research activities for the innovation and development of new materials with low manufacturing cost and power conversion efficiency is increasing at a faster rate.

Going forward, the government stringent rules and regulations, increasing investment in renewable energy generation, and the reducing dependency on fossil fuels are anticipated to drive this market substantially in the years to come. The opportunity in this market was US$7.55 bn in 2015. Rising at a healthy CAGR of 11.4% between 2016 and 2024, it is anticipated to reach US$19.60 bn by the end of 2024.

solar photovoltaic material market

 

Asia Pacific to Continue as Leading Regional Market for Solar Photovoltaic Materials

The Middle East and Africa, North America, Europe, Asia Pacific, and Latin America are the prime regional markets for solar PV materials across the world. In 2015, Asia Pacific emerged as the key contributor to the global market with a share of nearly 60%. Thanks to the high demand for solar photovoltaic installations in the power industry and in generating electricity from renewable sources, the Asia Pacific market for solar photovoltaic materials is expected to remain on the top over the next few years. China is the key domestic market for solar PV materials in Asia Pacific.

North America is another significant regional market for solar PV. On account of the exponential growth in the power industry in terms of renewable energy generation, North America is anticipated to witness an increasing demand for solar PV materials in the near future. The markets for solar PV materials in Europe, the Middle East and Africa, and Latin America are also expected to exhibit stable growth over the next few years.

Demand for Polycrystalline Materials to Remain High

Crystalline, polycrystalline, cadmium telluride, and copper indium diselenide are the key materials available in the global market for solar PV materials. Among these, the demand for polycrystalline is higher than others and this scenario is expected to remain so over the next few years. Polycrystalline silicon acquired a share of more than 72% in the overall market in 2015 and is anticipated to witness a significant rise in its demand in the near future due to its cheap manufacturing process as compared to that of other materials.

Crystalline silicon is also experiencing considerable demand across the world. However, the high cost associated with it may act as a limit force in the years to come. Cadmium telluride and copper indium diselenide are cheaper and have less power conversion efficiency. Market players are performing research to increase their efficiency.

Due to the presence of a large pool of participants, the global market for solar PV materials displays a highly fragmented competitive landscape. BASF SE, Mitsubishi Material Corp., Hemlock Semiconductor Corp. LLC, LDK Solar Co. Ltd., Okmetic, Wacker Chemie AG, Applied Materials Inc., Shin-Etsu Chemicals Co. Ltd., Atecom Technology Co. Ltd., Topsil GlobalWafers A/S, Silicor Materials Inc., and Targray Technology International Inc. are some of the prime vendors of solar photovoltaic materials across the world.

Overwhelming Popularity of Renewable Energy Generation to Add Extra Stars of Growth to the Solar Photovoltaic Materials Market

The solar photovoltaic materials market will observe promising growth on the back of the rising reliance on renewable energy sources for energy generation. The increasing prevalence of pollution-related hazards around the world and the stringent rules and regulations of the government bodies will serve as vital growth attractors for the solar photovoltaic materials market.

  • Solar photovoltaic materials are prominently used for manufacturing solar cell modules. The popularity of solar cells has risen considerably over the years. In addition, the initiatives by the government bodies regarding renewable energy are observing an uptick. Densely populated countries like India and China are the forbearers in the solar energy generation sector. The vast need to generate solar energy due to the expanding population numbers in these countries will help in boosting the growth prospects of the solar photovoltaic materials market.
  • Research and development activities help in sowing the seeds of growth across the solar photovoltaic materials market. The players in the solar photovoltaic materials market invest heavily in these activities for discovering novel formulations and features that help in upgrading the quality of the materials. The players are also involved in expansion activities. All these factors increase the revenue of the players, eventually increasing the growth rate.
  • Strategic collaborations play a major role in accelerating the growth of the solar photovoltaic materials market. The players are involved in mergers, acquisitions, joint ventures, and partnerships. These collaborations help in increasing the influence of the players, ultimately fuelling the growth of the solar photovoltaic materials market.
  • The COVID-19 pandemic has a large impact on the growth of the solar photovoltaic materials market. The enforcement of strict lockdowns across numerous countries on the back of the rising transmission levels led to the shutting down of manufacturing facilities and production units. This factor ruined the growth of the solar photovoltaic materials market considerably.

The global solar photovoltaic material market has been segmented as follows:

By Material Type

  • Crystalline
  • Polycrystalline
  • Cadmium Telluride
  • Copper Indium Diselenide
  • Others

By End User

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Chile
    • Brazil
    • Mexico
    • Rest of Latin America

    1. Preface
         1.1 Research Highlights

    2. Assumptions and Research Methodology
         2.1 Assumptions and Acronyms Used

    3. Executive Summary
         3.1 Solar Photovoltaic Material Market

    4. Market Overview
         4.1 Product Overview
         4.2 Market Indicators

    5. Market Dynamics
         5.1 Drivers
         5.2 Restraints
         5.3 Opportunity Analysis
         5.4 Porter’s Analysis 
         5.5 Value Chain Analysis

    6. Solar Photovoltaic Material Market Analysis by Material Type
         6.1 Key Findings
         6.2 Introduction
         6.3 Global Solar Photovoltaic Material Market Value Share Analysis, By Material Type
         6.4 Global Solar Photovoltaic Material Market Forecast by Material Type
         6.5 Global Solar Photovoltaic Material Market Attractiveness Analysis by Material Type 

    7. Global Solar Photovoltaic Material Market Analysis by End User Type
         7.1 Key Findings
         7.2 Introduction
         7.3 Global Solar Photovoltaic Material Market Value Share Analysis, By End User Type
         7.4 Global Solar Photovoltaic Material Market Forecast by End User Type
         7.5 Global Solar Photovoltaic Material Market Attractiveness Analysis by End User Type 

    8. Solar Photovoltaic Material Market Analysis by Region
         8.1 Solar Photovoltaic Material Market Value Share Analysis, By Region Type
         8.2 Solar Photovoltaic Material Market Forecast, By Region Type
         8.3 Solar Photovoltaic Material Market Attractiveness Analysis, By Region Type

    9. North America Solar Photovoltaic Material Market Analysis
         9.1 Key Findings
         9.2 North America Solar Photovoltaic Material Market Overview
         9.3 North America Market Value Share Analysis, By Material Type
         9.4 North America Market Value Share Analysis, By End User
         9.5 North America Market Forecast by Material Type
         9.6 North America Market Forecast by End User Type
         9.7 North America Market Value Share Analysis, By Country
         9.8 North America Market Forecast by Country
         9.9 North America Market Attractiveness Analysis by Material Type
         9.10 North America Market Attractiveness Analysis by End User Type 
         9.11 Market Trends

    10. Europe Solar Photovoltaic Material Market Analysis
         10.1 Key Findings
         10.2 Europe Solar Photovoltaic Material Market Overview
         10.3 Europe Market Value Share Analysis, By Material Type
         10.4 Europe Market Value Share Analysis, By End User
         10.5 Europe Market Forecast by Material Type
         10.6 Europe Market Forecast by End User Type
         10.7 Europe Market Value Share Analysis, By Country
         10.8 Europe Market Forecast by Country
         10.9 Europe Market Attractiveness Analysis by Material Type
         10.10 Europe Market Attractiveness Analysis by End User Type 
         10.11 Market Trends

    11. Asia Pacific Solar Photovoltaic Material Market Analysis
         11.1 Key Findings
         11.2 Asia Pacific Solar Photovoltaic Material Market Overview
         11.3 Asia Pacific Market Value Share Analysis, By Material Type
         11.4 Asia Pacific Market Value Share Analysis, By End User
         11.5 Asia Pacific Market Forecast by Material Type
         11.6 Asia Pacific Market Forecast by End User Type
         11.7 Asia Pacific Market Value Share Analysis, By Country
         11.8 Asia Pacific Market Forecast by Country
         11.9 Asia Pacific Market Attractiveness Analysis by Material Type
         11.10 Asia Pacific Market Attractiveness Analysis by End User Type 
         11.11 Market Trends

    12. Middle East & Africa Solar Photovoltaic Material Market Analysis
         12.1 Key Findings
         12.2 Middle East & Africa Solar Photovoltaic Material Market Overview
         12.3 Middle East & Africa Market Value Share Analysis, By Material Type
         12.4 Middle East & Africa Market Value Share Analysis, By End User
         12.5 Middle East & Africa Market Forecast by Material Type
         12.6 Middle East & Africa Market Forecast by End User Type
         12.7 Middle East & Africa Market Value Share Analysis, By Country
         12.8 Middle East & Africa Market Forecast by Country
         12.9 Middle East & Africa Market Attractiveness Analysis by Material Type
         12.10 Middle East & Africa Market Attractiveness Analysis By End User Type 
         12.11 Market Trends

    13. Latin America Solar Photovoltaic Material Market Analysis
         13.1 Key Findings
         13.2 Latin America Solar Photovoltaic Material Market Overview
         13.3 Latin America Market Value Share Analysis, By Material Type
         13.4 Latin America Market Value Share Analysis, By End User
         13.5 Latin America Market Forecast by Material Type
         13.6 Latin America Market Forecast by End User Type
         13.7 Latin America Market Value Share Analysis, By Country
         13.8 Latin America Market Forecast by Country
         13.9 Latin America Market Attractiveness Analysis by Material Type
         13.10 Latin America Market Attractiveness Analysis by End User Type 
         13.11 Market Trends

    14. Competition Landscape
         14.1 Solar Photovoltaic Material Market Share Analysis by Company (2015)
         14.2 Competition Matrix
         14.3 Company Profiles
                14.3.1 BASF SE
                         14.3.1.1 Company Description
                         14.3.1.2 Business Overview
                         14.3.1.3 SWOT Analysis
                         14.3.1.4 Strategic Overview
                14.3.2 Mitsubishi Material Corporation
                         14.3.2.1 Company Description
                         14.3.2.2 Business Overview
                14.3.3 Hemlock Semiconductor Corporation LLC
                         14.3.3.1 Company Description
                         14.3.3.2 Business Overview
                14.3.4 LDK Solar Co. Ltd.,
                         14.3.4.1 Company Description
                         14.3.4.2 Business Overview
                14.3.5 Okmetic
                         14.3.5.1 Company Description
                         14.3.5.2 Business Overview
                         14.3.5.3 SWOT Analysis
                         14.3.5.4 Strategic Overview
                14.3.6 Wacker Chemie AG
                         14.3.6.1 Company Description
                         14.3.6.2 Business Overview
                         14.3.6.3 SWOT Analysis
                         14.3.6.4 Strategic Overview
                14.3.7 Applied Materials, Inc.
                         14.3.7.1 Company Description
                         14.3.7.2 Business Overview
                         14.3.7.3 SWOT Analysis
                         14.3.7.4 Strategic Overview
                14.3.8 Shin-Etsu Chemicals Co., Ltd.
                         14.3.8.1 Company Description
                         14.3.8.2 Business Overview
                         14.3.8.3 SWOT Analysis
                         14.3.8.4 Strategic Overview
                14.3.9 Atecom Technology Co., Ltd.
                         14.3.9.1 Company Description
                         14.3.9.2 Business Overview
                14.3.10 Topsil GlobalWafers A/S
                         14.3.10.1 Company Description
                         14.3.10.2 Business Overview
                         14.3.10.3 SWOT Analysis
                         14.3.10.4 Strategic Overview
                14.3.11 Silicor Materials, Inc.
                         14.3.11.1 Company Description
                         14.3.11.2 Business Overview
                14.3.12 Targray Technology International, Inc.
                         14.3.12.1 Company Description
                         14.3.12.2 Business Overview

    15. Key Take Away

    List of Tables 

    Table 1 Global Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Material Type, 2015–2024
    Table 2 Global Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By End User Type, 2015–2024
    Table 3 Global Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Region Type, 2015–2024
    Table 4 North America Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Material Type, 2015–2024
    Table 5 North America Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By End User Type, 2015–2024
    Table 6 North America Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Country, 2015–2024
    Table 7 Europe Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Material Type, 2015–2024
    Table 8 Europe Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By End User Type, 2015–2024
    Table 9 Europe Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Country, 2015–2024
    Table 10 Asia Pacific Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Material Type, 2015–2024
    Table 11 Asia Pacific Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By End User Type, 2015–2024
    Table 12 Asia Pacific Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Country, 2015–2024
    Table 13 Middle East & Africa Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Material Type, 2015–2024
    Table 14 Middle East & Africa Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By End User Type, 2015–2024
    Table 15 Middle East & Africa Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Country, 2015–2024
    Table 16 Latin America Solar Photovoltaic Material Market Size (US$ Bn) and Volume (Kilotons) Forecast, By Material Type, 2015–2024
    Table 17 Latin America Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By End User Type, 2015–2024
    Table 18 Latin America Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, By Country, 2015–2024

    List of Figures

    Figure 1 Global Solar Photovoltaic Material Market Value Share Analysis by Material Type, 2015 and 2024
    Figure 2 Global Solar Photovoltaic Material Market Analysis by Crystalline Material Type
    Figure 3 Global Solar Photovoltaic Material Market Analysis by Polycrystalline Material Type
    Figure 4 Global Solar Photovoltaic Material Market Analysis by Cadmium Telluride Material Type
    Figure 5 Global Solar Photovoltaic Material Market Analysis by Copper Indium Diselenide Material Type
    Figure 6 Global Solar Photovoltaic Material Market Analysis by Others Type Material
    Figure 7 Solar Photovoltaic Material Market Attractiveness Analysis by Material Type
    Figure 8 Global Solar Photovoltaic Material Market Value Share Analysis by End User Type, 2015 and 2024
    Figure 9 Global Solar Photovoltaic Material Market Analysis by Residential Type
    Figure 10  Global Solar Photovoltaic Material Market Analysis by Commercial Type
    Figure 11 Global Solar Photovoltaic Material Market Analysis by Industrial Type
    Figure 12 Solar Photovoltaic Material Market Attractiveness Analysis by End User Type
    Figure 13 Global Solar Photovoltaic Material Market Value Share Analysis by Region Type, 2015 and 2024
    Figure 14 Solar Photovoltaic Material Market Attractiveness Analysis, By Region Type
    Figure 15 North America Solar Photovoltaic Material Market Size (US$ Bn) and Volume (Kilotons) Forecast, 2015–2024
    Figure 16 North America Market Attractiveness Analysis by Country
    Figure 17 North America Market Value Share Analysis by Material Type, 2015 and 2024
    Figure 18 North America Market Value Share Analysis by End User Type, 2015 and 2024
    Figure 19 North America Market Value Share Analysis by Country, 2015 and 2024
    Figure 20 North America Solar Photovoltaic Material Market Attractiveness Analysis by Material Type
    Figure 21 North America Solar Photovoltaic Material Market Attractiveness Analysis by End User Type
    Figure 22 Europe Solar Photovoltaic Material Market Volume (kilotons), Market Size (Mn), Forecast 2015-2024
    Figure 23 Europe Solar Photovoltaic Material Market Country Attractiveness, Forecast 2015-2024
    Figure 24  Europe Market Value Share Analysis by Material Type, 2015 and 2024
    Figure 25 Europe Market Value Share Analysis by End User Type, 2015 and 2024
    Figure 26 Europe Market Value Share Analysis by Country, 2015 and 2024
    Figure 27 Europe Solar Photovoltaic Material Market Attractiveness Analysis By Material Type
    Figure 28 Solar Photovoltaic Material Market Attractiveness Analysis By End User Type
    Figure 29 Asia Pacific Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, 2015–2024
    Figure 30 Asia Pacific Market Attractiveness Analysis by Country/Region
    Figure 31 Asia Pacific Market Value Share Analysis By Material Type, 2015 and 2024
    Figure 32 Asia Pacific Market Value Share Analysis By End User Type, 2015 and 2024
    Figure 33 Asia Pacific Market Value Share Analysis by Country, 2015 and 2024
    Figure 34 Asia Pacific Solar Photovoltaic Material Market Attractiveness Analysis By Material Type
    Figure 35 Solar Photovoltaic Material Market Attractiveness Analysis By End User Type
    Figure 36 Middle East & Africa Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, 2015–2024
    Figure 37 Middle East & Africa Market Attractiveness Analysis by Country/Region
    Figure 38 Middle East & Africa Market Value Share Analysis By Material Type, 2015 and 2024
    Figure 39 Middle East & Africa Market Value Share Analysis By End User Type, 2015 and 2024
    Figure 40 Middle East & Africa Market Value Share Analysis by Country, 2015 and 2024
    Figure 41 Middle East & Africa Solar Photovoltaic Material Market Attractiveness Analysis By Material Type
    Figure 42 Middle East & Africa Solar Photovoltaic Material Market Attractiveness Analysis By End User Type
    Figure 43 Latin America Solar Photovoltaic Material Market Size (US$ Mn) and Volume (Kilotons) Forecast, 2015–2024
    Figure 44 Latin America Market Attractiveness Analysis by Country/Region
    Figure 45 Latin America Market Value Share Analysis By Material Type, 2015 and 2024
    Figure 46 Latin America Market Value Share Analysis By End User Type, 2015 and 2024
    Figure 47 Latin America Market Value Share Analysis by Country, 2015 and 2024
    Figure 48 Latin America Solar Photovoltaic Material Market Attractiveness Analysis By Material Type
    Figure 49 Latin America Solar Photovoltaic Material Market Attractiveness Analysis By End User
    Figure 50 Global Solar Photovoltaic Material Market Share Analysis By Company (2015)

Copyright © Transparency Market Research, Inc. All Rights reserved