Solar Backsheet Market worth 2.40 Bn USD by 2023

The report, now available on ASDReports, "Solar Backsheet Market by Type (Fluoropolymer and Non-Fluoropolymer), Application (Utility, Industrial, Commercial, Residential, and Military), Installation (Roof-Mounted, Ground-Mounted, and Floating Power Plant), and Region - Global Forecast to 2023", The solar backsheet market is expected to grow from an estimated USD 1.71 Billion in 2018 to USD 2.40 Billion by 2023, at a CAGR of 7.02%, from 2018 to 2023. This market growth is driven by increasing global solar PV installations as well as policy support from governments to enable the adoption of renewable technologies. Another factor driving the demand for solar backsheet is the need to reduce carbon emissions.

The utility application segment is expected to hold the largest share of the solar backsheet market, by application, during the forecast period.
The utility segment is expected to have the largest solar backsheet market share, by application, from 2018 to 2023. This segment is driven mainly by the global increase in installations of solar power plants, both for utility and distributed power generation applications, to meet the global power demand.

Asia Pacific is expected to be the fastest-growing solar backsheet market.
In this report, the solar backsheet market has been analyzed with respect to 4 regions, namely, North America, Europe, Asia Pacific, and the rest of the world. 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 and India. China is the largest market in Asia Pacific and is heavily investing in solar PV to reduce carbon emissions and fulfill its power needs. The other key markets in Asia Pacific are India, South Korea, and Australia. Asia Pacific accounted for more than 50% of the solar backsheet market in 2017. North America is expected to be the second fastest-growing market for solar backsheets.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the solar backsheet market including Cybrid (China), Jolywood (China), Coveme (Italy), Krempel (Germany), and Hangzhou First (China).

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Source: ASDReports - Market Research
Date: Apr 9, 2018