Solar Photovoltaic Glass Market Growth Accelerated by Sustainable Energy Drive
Solar photovoltaic (PV) glass plays an important role in the solar energy production, as it protects the solar panels from mechanical damages while simultaneously allowing maximum sunlight to pass through. The rising demand for renewable energy sources along with government incentives and subsidies for solar PV installations has propelled the demand for solar PV glass. The global Solar Photovoltaic Glass Market is estimated to be valued at US$ 15.38 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Regional
analysis: Europe currently dominates the global solar photovoltaic glass
market. Countries such as Germany, Italy, and France are major markets in
Europe and have set ambitious solar energy targets. Furthermore, supportive
policies such as investment subsidies, tax exemptions and net metering have
propelled the solar PV installations in the region. Asia Pacific is projected
to be the fastest growing regional market, mainly attributed to the rapidly
increasing solar installations in China and India. Abundant solar resources and
government initiatives to reduce fossil fuel dependence are stimulating the
growth of solar photovoltaic glass market in Asia Pacific.
Key
players operating in the solar photovoltaic glass market are Dow,
Sherwin-Williams Company, PPG Industries Inc, Axalta Coating Systems Ltd , Akzo
Nobel NV, ICA SpA, Covestro AG. Dow is a leading manufacturer of solar
encapsulants and backsheets. Sherwin-Williams Company offers protective and
marine coating solutions for photovoltaic modules. PPG Industries provides
anti-reflective coatings for solar modules. Axalta Coating Systems offers
specialty coating products for photovoltaic applications.
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