Solar Backsheet Market size was valued at USD 1.71 billion in 2022 and is poised to grow at a 7.2% CAGR from 2023 to 2029. The market for the solar backsheet is mainly driven by increasing PV installation as well as policy support from the government to adopt renewable technologies. On the basis of type, the solar backsheet is segmented into fluoropolymer and non-fluoropolymer. Fluoropolymer PV backsheet is the most used solar backsheet due to inherent strength and effective weather resistance as compared to other systems. The major factor to drive the market for solar backsheet market is the increasing demand for clean energy and cost-effective alternative around the world. Many countries are shifting towards renewable energy with the provision of government incentives and tax rebates on the installation of solar panels and solar energy provides various opportunities for key players to expand their business towards solar energy. The key restraints on the adoption of the solar backsheet market are high-cost installation of solar panels, with the high-cost installation of solar panels the area is restrained from adopting these techniques, as much energy required area should be given for the installation of solar panels. Post-installation in the area of solar panels can not be used for any further purpose. Increase in awareness about renewable energy the demand for solar panels increasing people are shifting towards the solar backsheet market. Geographically, Asia Pacific held the major market share in 2022 and is expected to dominate the solar backsheet market in the forecasted years.
Solar Backsheet Market Key Developments:
In October 2021, Coveme S.P.A participated in the Intersolar Europe exposition in Munich, Germany. The company unveiled a new range of backsheet films under the DyMAT brand. The new films are made from completely recycled polyethylene terephthalate (PET) using the company's closed-loop recycling project for backsheets.
In May 2018, Bischof + Klein, a German company has come up with a complete polypropylene solution containing a core film with two protective layers. With no fluorine content, this product is also gaining attraction for being recyclable and environmentally friendly.
Fastest Growing Market
The increasing prevalence of awareness in renewable energy across the world is the major market driver in the Solar backsheet market during the forecast period. Major developed countries and most people are shifting towards renewable energy like solar panels for temporary electricity, the demand for solar panels is increasing due to awareness about renewable energy. It is used in commercial, industrial, residential and agricultural to get benefited with the solar panels, government support and tax rebates on solar panels increase the demand for solar backsheet in the market
The solar backsheet market was valued at usd 1.71 billion in 2022, growing at a 7.2% cagr from 2023 to 2029.
The Solar Backsheet market provides the use of renewable resources which do not harm the environment and an increase in awareness and promotion towards the solar market can drive the market of the solar Backsheet in the future.
The leading players in the Solar Backsheet market are; 3M, Dupont De Nemours Inc., Toray Industries Inc., Toyo Aluminium KK, ZTT International, Canadian Solar, Trina Solar, JA Solar, JinkoSola, Cybrid Technologies, Mitsubishi Polyester Film, and Taiflex
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation, and Seven years forecast is presented from 2023 – 2029.