Photovoltaic Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Photovoltaic Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global photovoltaic materials market reached a value of US$ 26.28 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 52.09 Billion by 2027, exhibiting a CAGR of 11.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Photovoltaic materials are semiconducting materials that can absorb solar energy and convert it into electricity. They comprise monocrystalline, polycrystalline or amorphous silicon, gallium arsenide, metal chalcogenides, and organometallics. They help in the production of low-cost, mechanically flexible, and large-area photovoltaic devices to allow relevant access to sustainable and clean energy. As a result, they find extensive applications in residential, non-residential, and utility sectors. At present, there is a rise in the installation of solar photovoltaics due to their accessibility, capacity, and efficiency, which is catalyzing the demand for photovoltaic materials worldwide.

Photovoltaic Materials Market Trends:
The growing manufacturing of solar cell modules to supply power to residential and non-residential areas represents one of the key factors driving the market. Moreover, the rising awareness among individuals about the benefits of solar energy, along with increasing concerns about greenhouse gas emissions, are propelling the growth of the market. In addition, declining costs of photovoltaic materials, coupled with the limited availability of fossil fuels across the globe, is positively influencing the market. Besides this, there is a rise in the demand for organic photovoltaics to provide earth-abundant and low-energy-production photovoltaic (PV) solutions. In line with this, the increasing utilization of dye-sensitized solar cells (DSSC), which enable the user to convert both artificial and natural light into energy and power various electronic devices, is bolstering the market growth. Apart from this, governments of several countries are undertaking initiatives to increase the usage of renewable energy. In addition, they are working towards the formulation and implementation of policies that support photovoltaic projects with grid connection convenience. Additionally, the rising employment of thin film-based solar technology due to its lightweight and cost-efficiency compared to traditional solar technology is strengthening the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global photovoltaic materials market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, material and application.

Breakup by Type:

Polycrystalline Silicon
Monocrystalline Silicon
Cadmium Telluride
Copper Indium Gallium Selenide (CIGS)

Breakup by Material:

Front Sheet
Back Sheet

Breakup by Application:


Breakup by Region:

North America
United States
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being American Elements, COVEME s.p.a., DuPont de Nemours Inc., Ferrotec Holdings Corporation, Honeywell International Inc., KYOCERA Corporation, Merck KGaA, Mitsubishi Materials Corporation, Novaled GmbH (Samsung SDI Co. Ltd.), Targray, Tata Power Solar Systems Limited (Tata Power Company Limited) and Wacker Chemie AG.
Key Questions Answered in This Report:
How has the global photovoltaic materials market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global photovoltaic materials market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the material?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global photovoltaic materials market and who are the key players?
What is the degree of competition in the industry?

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Photovoltaic Materials Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Polycrystalline Silicon
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Monocrystalline Silicon
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Cadmium Telluride
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Copper Indium Gallium Selenide (CIGS)
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Material
7.1 Front Sheet
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Encapsulant
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Back Sheet
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Application
8.1 Utility
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Residential
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Non-residential
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States Market Trends Market Forecast
9.1.2 Canada Market Trends Market Forecast
9.2 Asia-Pacific
9.2.1 China Market Trends Market Forecast
9.2.2 Japan Market Trends Market Forecast
9.2.3 India Market Trends Market Forecast
9.2.4 South Korea Market Trends Market Forecast
9.2.5 Australia Market Trends Market Forecast
9.2.6 Indonesia Market Trends Market Forecast
9.2.7 Others Market Trends Market Forecast
9.3 Europe
9.3.1 Germany Market Trends Market Forecast
9.3.2 France Market Trends Market Forecast
9.3.3 United Kingdom Market Trends Market Forecast
9.3.4 Italy Market Trends Market Forecast
9.3.5 Spain Market Trends Market Forecast
9.3.6 Russia Market Trends Market Forecast
9.3.7 Others Market Trends Market Forecast
9.4 Latin America
9.4.1 Brazil Market Trends Market Forecast
9.4.2 Mexico Market Trends Market Forecast
9.4.3 Others Market Trends Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 American Elements Company Overview Product Portfolio
14.3.2 COVEME s.p.a. Company Overview Product Portfolio
14.3.3 DuPont de Nemours Inc. Company Overview Product Portfolio Financials SWOT Analysis
14.3.4 Ferrotec Holdings Corporation Company Overview Product Portfolio Financials
14.3.5 Honeywell International Inc. Company Overview Product Portfolio Financials SWOT Analysis
14.3.6 KYOCERA Corporation Company Overview Product Portfolio Financials SWOT Analysis
14.3.7 Merck KGaA Company Overview Product Portfolio Financials SWOT Analysis
14.3.8 Mitsubishi Materials Corporation Company Overview Product Portfolio Financials SWOT Analysis
14.3.9 Novaled GmbH (Samsung SDI Co. Ltd.) Company Overview Product Portfolio
14.3.10 Targray Company Overview Product Portfolio
14.3.11 Tata Power Solar Systems Limited (Tata Power Company Limited) Company Overview Product Portfolio
14.3.12 Wacker Chemie AG Company Overview Product Portfolio Financials SWOT Analysis

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings