The global solar backsheet market is expected to grow at 7.20% CAGR during the forecast period. Solar backsheet is used in solar power plants to generate electricity for various applications such as residential, commercial, military, industrial, and utilities. Solar backsheet is used to protect the photovoltaic module from UV radiations, moisture penetration, electrical insulation, and offer the durability to the PV module.

The global solar backsheet market is projected to grow at a high rate during the forecast period, mainly due to the increasing solar PV installation and policy support from government to enable adoption of renewable technologies. As per European Commission, it is estimated that USD 28.44 billion is required to be invested in renewable sources by the government between 2020 and 2050. This would lead to increase in the installation on solar power parks across Europe. This, driving the market for solar backsheet in the coming years.

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Industry Segmentation

Global solar backsheet market has been segmented based on type, installation, application, and region.

Based on type, the market is classified into fluoropolymer and non-fluoropolymer.

Based on application, the market is segmented as utility, residential, commercial, industrial, and military.

The installation is majorly taking place in Europe, North America, and Asia Pacific. Considering the type, the market is segmented as fluoropolymer and non-fluoropolymer. Fluoropolymer type of backsheet is majorly installed in solar power parks due to its higher efficiency and better insulation properties compared to non-fluoropolymer backsheet.

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Regional Outlook

Asia Pacific is expected to be the largest and the fastest-growing market, by region, during the forecast period. This is due to the significant increase in solar PV installation in China, Japan, and India. For instance, Japan installed 6 GW to 7.5 GW of solar power plant in 2018. Moreover, the Ministry of Economy, Trade and Industry (METI) has revoked approvals for 260,000 solar projects, with 14.6 GW of capacity. This would, in turn, boost the growth of solar backsheet installation in Japan.

Prominent Players

The key players of the global solar backsheet market are Honeywell (US), Agfa (Belgium), Dupont (US), Jolywood (China), Isovoltaic (Austria), 3M (US), Dunmore Corporation (US), Hangzhou Sunhome Solar Backsheet Co.,Ltd. (China), Krempel (Germany), and Flexcon (US), among others.

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