Photovoltaic Materials Market Size Worth $36.23 Billion By 2025: Grand View Research, Inc.

SAN FRANCISCO, August 22, 2017 /PRNewswire/ --

The global photovoltaic materials market [http://www.grandviewresearch.com/industry-analysis/photovoltaic-pv-materials-market ] is expected to reach USD 36.23 billion by 2025, according to a new report by Grand View Research, Inc. The growing PV installations coupled with rise in module manufacturing facilities in Asia Pacific is driving market demand.

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The demand for photovoltaic materials is the highest in the construction of solar cell. The growing number of PV projects commissioned by the government is boosting the consumption. The government incentive offered on building integrated photovoltaics is expected to further augment market demand.

Asia Pacific accounted for the maximum market share owing to the presence of a large number of module manufacturers in China and India. The slowdown in the Chinese manufacturing sector due to sanctions imposed by the government is expected to force module manufacturers to turn towards other developing countries. The growing exports of solar cells from Asia Pacific to North America and Europe are expected to have a positive impact on market demand.

Browse full research report with TOC on "Photovoltaic (PV) Materials Market Analysis By Materials (Polycrystalline Silicon, Monocrystalline Silicon, CIGS), By Product, By Application, By Region, And Segment Forecast, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/photovoltaic-pv-materials-market

Further key findings from the report suggest: 

        
        - Polycrystalline silicon dominated the material segmentation with a market share of
          62% in 2016.
        - Copper Indium Gallium Selenide material segment is projected to grow at a CAGR of
          13.3% from 2017 to 2025 owing to research on new materials to be used in the
          construction of solar cell.
        - Encapsulant products are anticipated to grow at a CAGR of 11.8% from 2017 to 2025 due
          to high demand for these products in thin film and silicon wafer modules
        - Europe market share is expected to decrease to around 14% in 2025 owing to growing
          exports of PV modules from Asia Pacific.
        - Middle East & Africa is anticipated to grow at a CAGR of 8% from 2017 to 2025 owing to
          governments in these regions investing heavily in solar PV installations.
        - The industry participants are engaged in research on new materials used in the
          manufacturing of solar cells.

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Grand View Research has segmented the global photovoltaic materials market on the basis of material, product, application and region: 

        
        - Material Outlook (Revenue, USD Million, 2014 - 2025) 
             - Polycrystalline Silicon
             - Monocrystalline Silicon
             - Cadmium Telluride
             - Copper Indium Gallium Selenide (CIGS)
             - Others
        - Product Outlook (Revenue, USD Million, 2014 - 2025) 
             - Front Sheet
             - Encapsulant
             - Back Sheet
             - Others
        - Application Outlook (Revenue, USD Million, 2014 - 2025) 
             - Utility
             - Residential
             - Non-residential
        - Regional Outlook (Revenue, USD Million, 2014 - 2025) 
             - North America
                - U.S.
             - Europe
                - Germany
                - Spain
             - Asia Pacific
                - China
                - India
                - Japan
             - Central & South Africa
                - Brazil
             - Middle East & Africa

Read Our Blog By Grand View Research: http://www.grandviewresearch.com/blogs/energy-and-power

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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        Sherry James 
        Corporate Sales Specialist, USA 
        Grand View Research, Inc 
        Phone: +1-415-349-0058 
        Toll Free: 1-888-202-9519 
        Email: sales@grandviewresearch.com 

 

Web: http://www.grandviewresearch.com

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SOURCE Grand View Research, Inc.