Solar Encapsulant Sheet Global Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Product Type

Solar Encapsulant Sheet Market Summary

Introduction
Solar Encapsulant Sheets are critical materials used to protect and enhance the durability of photovoltaic (PV) modules by encasing solar cells, ensuring resistance to environmental factors like moisture, UV radiation, and temperature fluctuations. These sheets, typically made from materials like ethylene vinyl acetate (EVA), polyolefin elastomer (POE), or polyvinyl butyral (PVB), provide adhesion, insulation, and long-term reliability to solar panels. The rise of double-glass (bifacial) modules, which offer higher efficiency and longevity, has boosted demand for advanced encapsulants like POE and EPE (EVA-POE-EVA co-extruded films), known for their superior water resistance and anti-PID (Potential Induced Degradation) properties. The global solar industry has seen rapid growth, with installed capacity increasing from 117 GW in 2019 to 375 GW in 2024, projected to reach 402 GW in 2025 and 540 GW by 2028. The market is estimated at USD 3.9-5.5 billion in 2025, with a CAGR of 7.5%-12.5% from 2025 to 2030, driven by renewable energy adoption and technological advancements in PV manufacturing.

Market Size and Growth Forecast
The Solar Encapsulant Sheet market is projected to grow from USD 3.9-5.5 billion in 2025 to a larger scale by 2030, with a CAGR of 7.5%-12.5%. This expansion is propelled by the global shift toward solar energy, increasing bifacial module adoption, and innovations in encapsulant materials.
Regional Analysis
Asia Pacific: Growth is estimated at 8.5%-13.5%, with China dominating due to its massive PV manufacturing base. Trends focus on scaling production and adopting POE for high-reliability modules.
North America: The market grows at 7.0%-11.0%, with the U.S. emphasizing solar infrastructure. Trends highlight sustainability and advanced materials.
Europe: Growth ranges from 7.5%-12.0%, led by Germany and Spain, with a focus on renewable energy policies driving demand.
Rest of the World: Growth is 6.5%-10.5%, with India and Brazil showing potential in solar adoption.

Type Analysis
EVA Sheet: Growing at 6.5%-10.5%, it remains cost-effective and widely used, though trends shift toward alternatives due to PID concerns.
POE Sheet: With a growth rate of 8.5%-13.5%, it excels in water resistance and anti-PID performance, trending as the preferred choice for bifacial modules.
EPE Sheet: Growing at 8.0%-13.0%, this co-extruded film combines EVA’s adhesion with POE’s durability, gaining traction as a versatile substitute.
PVB Sheet: With a growth rate of 6.0%-9.5%, it serves niche applications, with steady use in specific climates.
Others: Including TPU and ionomers, this grows at 5.5%-9.0%, with limited but specialized adoption.

Key Market Players
Hanwha Advanced Materials: In South Korea, it supplies encapsulants for high-efficiency PV modules.
3M: In the U.S., it offers innovative solutions for solar durability.
SKC: In South Korea, it focuses on advanced POE and EPE films.
Hangzhou First Applied Material: In China, it caters to the massive domestic solar market.
Jiangsu Sveck New Material: In China, it specializes in encapsulant technologies.
Shanghai HIUV New Materials: In China, it targets bifacial module needs.
Crown Advanced Material Co. Ltd.: In China, it provides diverse encapsulant options.
Mitsui Chemicals: In Japan, it focuses on high-performance materials.
Shanghai Tianyang Hot Melt Adhesives Co. Ltd.: In China, it serves regional PV demands.
Changzhou Betterial Film Technologies: In China, it emphasizes cost-effective solutions.
Zhejiang Sinopont Technology: In China, it supports solar innovation.
Guangzhou Lushan New Materials: In China, it focuses on adhesive technologies.
AKINAL FILM: In Turkey, it caters to emerging markets.
Alishan Green Energy Pvt. Ltd.: In India, it targets local solar growth.
JINHEUNG INDUSTRY: In South Korea, it supplies reliable encapsulants.
Knack Energy Pvt. Ltd.: In India, it serves regional needs.
Lucent CleanEnergy: In India, it focuses on renewable energy materials.

Porter’s Five Forces Analysis
Threat of New Entrants: Moderate, due to technical expertise and scale requirements.
Threat of Substitutes: Low to moderate, with few alternatives matching encapsulant performance.
Bargaining Power of Buyers: Moderate, as large PV manufacturers negotiate prices.
Bargaining Power of Suppliers: Moderate, with raw material supply concentrated.
Industry Rivalry: High, driven by innovation and cost competition.

Market Opportunities and Challenges
Opportunities
Projected solar capacity growth to 540 GW by 2028 boosts encapsulant demand.
Shift to bifacial modules increases need for POE and EPE films.
Emerging markets like India offer expansion potential.

Challenges
Raw material price volatility affects profitability.
Technical complexity in EPE production limits scalability.
Competition from alternative technologies pressures market share.