Global Solar Panel & Coating Market Outlook, 2027

Global Solar Panel & Coating Market Outlook, 2027

Solar photovoltaic (PV) panels, generally comprising of arrays of photovoltaic cells or solar cells, which are semiconductor devices that convert sunlight into direct current electricity. Solar panels are made using solar cells electrically connected together and encapsulated in a weatherproof panel. Solar photovoltaic (PV) panels suffer from losing their efficiency due to depositions of snowfall, dust and airborne dirt, which results in degradation in solar panel performance. Light transmission from the outer surfaces of solar panels is reduced as a result of dust accumulation, leading to less photon absorption, which lowers the overall efficiency of the panel system. In such weather conditions, more frequent cleaning of panels is required to maintain the efficiency of the system. To overcome this cleaning task, solar panels are treated with coating during the manufacturing period. Coatings make panels resistant to impact and scratches while providing water proof properties to prevent accumulation of water. Further, they are coated with anti- reflective coating, hydrophobic coating material to prevent dust and water accumulation on the solar panels.

According to the report title, “Global Solar Panel and Coatings Market Outlook, 2027”, publish by Bonafide research, the solar panel market is anticipated to grow at a CAGR of more than 16% in value terms in the forecast period. According to the report, based on panel type, market is segmented into three major panel type i.e. Monocrystalline, polycrystalline and thin film solar panel. The polycrystalline solar panel is leading the market with more than 48% of value market share and it is anticipated to capture higher market share in forecast period. Followed by the monocrystalline segment having the second highest market shares. Monocrystalline solar panels are the oldest type of solar panels. Since monocrystalline solar panels are made from pure silicon, they can be readily identified by their dark black color. The use of pure silicon also makes monocrystalline panels the most efficient and long lifespan among all three solar panel types. However, this comes at a cost and a lot of silicon is wasted to produce one monocrystalline cell, sometimes reaching over 50%. This results in a hefty price tag. Being second-generation panels, there are certain advantages of thin-film panels, which contribute to its growing popularity are, flexibility, cheaper than other two, lightweight construction etc. However, thin-films are less efficient than typical silicon solar panels. According to the report, by end user type, market is segmented into residential, commercial, industrial and others segments. The commercial segment is leading the market with more than 33% of value market share.

Solar panels are coated with various types of coating to improve efficiency and lifespan of the solar panel. According to the report, by solar panel coating type, market is segmented into anti-reflective, hydrophobic, self-cleaning, anti-soiling, anti-abrasion and others coatings type. The anti-reflective coating type is leading the market with more than 29% of value market share. Follow by the hydrophobic coating segment.

According to the report, based on region, the solar panel and coatings market is segregated into five major regions i.e. North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. The Asia-pacific region is dominating in the value market share. By country, china is leading the solar panel and coatings market with higher value market share. There are many prominent companies in the solar panel market which are leading the market. The companies are Longi Green Energy Technology Co., Limited, Jinko Solar Holding Co., Limited, Trina Solar Co., Limited. JA Solar Technology Co., Limited., Canadian Solar Inc. and there is also prominent company in solar panel coating market which are driving the market. The companies are Koninklijke DSM N.V., 3M Company, Arkema S.A., Optitune Oy and Diamon-Fusion International, Inc.

Major Companies present in the market:
Longi Green Energy Technology Co., Limited., Jinko Solar Holding Co., Limited., Trina Solar Co., Limited., JA Solar Technology Co.,Limited., Canadian Solar Inc., Hanwha Q Cells Co. Limited., First Solar Inc., LG Electronics, Sunpower Corporation, Waaree Energies Limited, Risen Energy Co., Limited, GCL System Integration Technology Co. Limited, Jiangsu Shunfeng Photovoltaic Technology Co., Limited, Rec Solar Holdings AS, Wuxi Suntech Power Co., Limited.

Companies present in solar panel coatings market:
Koninklijke DSM N.V, 3M Company, Arkema S.A, Optitune Oy, Diamon-Fusion International, Inc, Fenzi SpA, Unelko Corporation

Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global solar panel and coatings market with its value and forecast along with its segments
• Region-wise solar panel and coatings market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa

Types of Panel in the report:
• Monocrystalline solar panel
• Polycrystalline solar panel
• Thin Film solar panel

By End User in the report:
• Residential
• Commercial
• Industrial
• Others

By Application in the report:
• Solar Photovoltaic
• Concentrated solar power (CSP)

By Coatings Type in the report:
• Anti-reflective
• Hydrophobic
• Self-cleaning
• Anti-soiling
• Anti-abrasion
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to solar panel and coatings industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Keywords: Global, North America, South America, Europe, Middle East, Africa, Asia, Asia-Pacific, China, Japan, India, South Korea, Australia, USA, Canada, Mexico, UK, Italy, France, Germany, Spain, Sweden, Netherlands, Brazil, Chile, UAE, Israel, South Africa, Monocrystalline, Polycrystalline, Thin Film, Residential, Commercial, Industrial, Anti-reflective, Hydrophobic, Self-cleaning, Anti-soiling, Anti-abrasion

This report would help you answer the following questions:
1. At what rate the global solar panel market will grow in forecast period?
2. What are the different types of solar panel?
3. Which solar panel type is leading the market?
4. Which end user type is leading the market?
5. What are the different types of solar panel coatings?
6. Which country is dominating in the solar panel and coatings market?

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