by The global Solar Photovoltaic Glass Market is estimated to be valued at US$ 14565.47 Million in 2022 and is expected to exhibit a CAGR of 30.72% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The solar photovoltaic (PV) glass market involves glass products primarily used in solar panels. Solar PV glass helps protect the solar cells from environmental factors like temperature changes, moisture and UV radiation, while also allowing sunlight to pass through. It has high light transmission, chemical and mechanical resistance. Technologies like anti-reflective coating are applied to solar PV glass to maximize light absorption in solar cells. Growing demand for renewable energy sources and government incentives for solar power generation are major drivers for the demand of solar PV glass.
Market key trends:
One of the key trends in the solar photovoltaic glass market is the development of more efficient glass products. Manufacturers are focusing on R&D to develop glass with higher light transmission efficiency, improved durability and lower costs. For example, glass products with very low iron content transmit more light. Textured glass and glass with nanoparticle coating absorb light better. Lamination technology is also being used between two glass panels to improve mechanical strength. Another major trend is the increasing preference for thin film solar PV glass. These thin film glass variants require less material and are lighter weight, making them more viable for building integrated photovoltaics and flexible solar panels.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the solar photovoltaic glass market is moderate as substantial capital investments are required to set up glass manufacturing plants.
Bargaining power of buyers: The bargaining power of buyers in the solar photovoltaic glass market is moderate as buyers have a certain degree of bargaining power due to the availability of alternatives.
Bargaining power of suppliers: The bargaining power of suppliers in the market is moderate as suppliers have a certain degree of bargaining power due to availability of raw materials.
Threat of new substitutes: The threat of new substitutes in the solar photovoltaic glass market is low as substitutes face high switching costs.
Competitive rivalry: high.
Key Takeaways
The global Solar Photovoltaic Glass Market is expected to witness high growth, exhibiting CAGR of 30.72% over the forecast period, due to increasing solar power generation capacity additions globally. The demand for solar photovoltaic glass is driven by growing need for renewable energy sources.
Regional analysis: Asia Pacific dominated the global solar photovoltaic glass market in 2021 and is expected to maintain its dominance during the forecast period. This is attributed to presence of emerging economies like China and India that are heavily investing in solar energy generation. Increasing capacity additions and declining prices of solar PV panels is expected to drive market growth in the region.
Key players operating in the solar photovoltaic glass market are AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Flat Glass Co., Ltd., Interfloat Corporation, Guangdong Golden Glass Technologies, Hecker Glastechnik GmbH & Co. KG, F solar GmbH, Emmvee Toughened Glass Private Limited, and Euroglas.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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