Photovoltaics Films Companies

The photovoltaic films market size is projected to grow from USD 14.05 billion in 2025 to USD 29.01 billion by 2030, registering a CAGR of 15.6% during the forecast period.

The increasing use of floating solar installations is a key opportunity for the photovoltaic films market, due to the growth in demand for encapsulation films that are more durable and resistant to water. Floating photovoltaic panels are installed on bodies of water (reservoirs and lakes) and are gaining popularity around the regions due to limited land and the desire to reduce evaporation (arid climates, specifically in places such as Saudi Arabia and the UAE). Although floating solar projects offer benefits, they come with challenges that land-based projects do not encounter. One of the challenges is the exposure to moisture, humidity, and water exposure, which can damage solar panels even if they are waterproof. Encapsulation films that come with improved water resistance and durability, such as PVB or enhanced polyolefins, will be used in these environments to protect photovoltaic modules long-term. Regions are committed to innovation and investment in solar-based solutions to meet renewable energy targets; demand for encapsulation films designed for floating solar installations will likely rise and grow this market.

Photovoltaics Films Companies

These prominent competitors, along with a slew of others, define the photovoltaic films market through ongoing innovations, product launches, acquisitions, and worldwide growth strategies. Their contributions propel technological developments, broaden market reach, and shape industry standards, ultimately influencing the future of photovoltaic films and their numerous uses. The players include H.B. Fuller Company (US), 3M (US), Kuraray Co., Ltd (Japan), JA SOLAR Technology Co., Ltd. (China), Borealis AG (Austria)., Jiangsu Sveck Photovoltaic New Material Co., Ltd (China), HANGZHOU FIRST APPLIED MATERIAL CO., LTD. (China), Shanghai HIUV New Materials Co., Ltd.  (China),  Guangzhou Lushan New Materials Co., Ltd. (China), Betterial (China), Mitsui Chemicals, Inc. (Japan), Hanwha Group (South Korea), Zhejiang Sinopont Technology Co., Ltd. (China), and Cybrid Technologies Inc. (China), that have adopted partnerships, agreements, joint ventures, collaborations, announcements, awards, and expansions to increase their market shares and expand their geographic presence.

To know about the assumptions considered for the study download the pdf brochure

In October 2024, HIUV and H.B. Fuller agreed to a strategic alliance to develop better photovoltaic encapsulation solutions for the US. HIUV will provide formulated films and manufacturing processes, while H.B. Fuller will manufacture at its facility in Ohio.

In March 2024, Zhejiang Sinopont Technology Co., Ltd. launched its first production site in Malaysia, at which it will produce PV encapsulant films with an initial capacity of 85 million square meters. This is enough for approximately 10 gigawatts (GW) in demand.

Hanwha Group, founded in 1952, is a diversified conglomerate and the seventh-largest business enterprise in South Korea. The Group operates through a balanced portfolio that includes various sectors: Aerospace & Mechatronics, Clean Energy & Ocean Solutions, Finance, and Retail & Services. The Clean Energy & Ocean Solutions segment encompasses various subsidiaries such as Hanwha Solutions, Hanwha Ocean, Hanwha Energy, Hanwha Impact, Hanwha Power Systems, Hanwha TotalEnergies Petrochemical, Hanwha Engine, and Hanwha Advanced Materials. The Group manufactures PV encapsulant EVA sheets through Hanwha Advanced Materials. Hanwha has expanded its global network to over 710 locations, including 282 in North America, 125 in Asia Pacific, and 341 in Europe. The subsidiary Hanwha Advanced Materials plays a crucial role in this expansion, with local production and R&D centers in South Korea, North America, Europe, and China. It operates manufacturing facilities in Alabama and Virginia (US), Beijing (China), the Czech Republic (Europe), and Mexico (Central America).

3M, established in 1902, is a diversified technology and manufacturing company headquartered in Minnesota, US. 3M’s business portfolio comprises three distinct segments: Safety and Industrial, Transportation and Electronics, and Consumer. The company manufactures PV films under its Safety and Industrial division. 3M's Safety and Industrial division encompasses a wide range of products designed to enhance safety and efficiency across various industrial applications. This division includes offerings such as industrial abrasives and finishing solutions for metalworking, electrical products and materials for construction and maintenance, power distribution and electrical original equipment, structural adhesives and tapes, as well as natural and color-coated mineral granules used in roofing shingles. With a global presence in more than 200 countries, 3M operates 81 manufacturing and converting facilities in 28 countries and has laboratories in 36 countries. 3M organizes its operations into three regions: Americas, Asia Pacific, and Europe, Middle East & Africa. In 2024, the Americas represented 55% of the company’s total revenue, followed by Asia Pacific at 28%, and Europe, Middle East & Africa at 17%.

HANGZHOU FIRST APPLIED MATERIAL CO., LTD. is a leading Chinese company founded in 2003, specializing in the research, development, production, and distribution of photovoltaic packaging materials. The company offers a broad product portfolio that includes PV materials, PCB/FPC, electronic components, and hot-melt web. In the PV materials segment, it produces ethylene/vinyl acetate (EVA) films, polyolefin (PO) films, and backsheets specifically designed for photovoltaic modules. Notably, its Solar EVA Film holds over 50% of the global market share, forming strong partnerships with many well-known PV companies and greatly impacting the PV films market. The company has multiple manufacturing facilities across China, in Jiangmen, Chuzhou, Suzhou, and Jiaxing for its PV products, and it has expanded internationally with facilities in Vietnam and Thailand.

Mitsui Chemicals, Inc. is a prominent Japanese chemical manufacturer established in 1912 and headquartered in Tokyo, Japan. The company categorizes its business activities into four distinct segments: Life and Healthcare Solutions, ICT Solutions, Basic & Green Materials, Mobility Solutions, and Others. It offers Solar Cell Encapsulant under the ICT Solutions business segment. The segment offers a variety of products, including dust covers for photomasks, polyimide varnish, piezoelectric material, silicone-coated film, and many more. In 2024, ICT Solutions generated revenue of USD 1445 million, accounting for 12% of the company’s total revenue, while the Basic & Green segment accounted for 39%, mobility solutions contributed 32%, Life & Healthcare Solutions represented 16%, and other businesses made up 1%. The company has a large network of manufacturing units, including seven in Japan: Ichihara Works, Mobara Factory, Nagoya Works, Osaka Works, Iwakuni-Ohtake Works, Tokuyama Factory, and Omuta Works. MCI operates in several locations, including Asia, the Americas, Europe, and other regions, and its operations are divided into six geographical regions: Japan, Asia, the Americas, China, Europe, and other regions.

Jiangsu Sveck Photovoltaic New Material Co., Ltd. is a high-tech enterprise specializing in the research, development, production, and sales of innovative materials, particularly for the photovoltaics industry. Established in 2005 and headquartered in Changzhou, China, the company has developed a strong focus on encapsulation materials for solar modules and lithium batteries. Jiangsu Sveck’s product portfolio comprises photovoltaic encapsulation materials and aluminum plastic film. The company’s core business includes Anti-PID EVA, White EVA, White EPE, POE, EPE, Black High Reflective EVA, HJT Film HA series, LRF, etc. Jiangsu Sveck has a vast presence in Asia Pacific with 4 production bases in Changzhou, Suqian, Yancheng, and Yiwu. The company’s products have been sold to over 20 countries and regions worldwide.

Market Ranking

The photovoltaic film market is highly competitive, with five main players holding about 44–46% of the total market share. Hanwha leads the market due to its strong production capacities and market presence in major solar markets. 3M maintains a solid position through innovations in long-lasting, UV-resistant, high-performance film materials for durable PV protection. Hangzhou First is a key supplier in Asia, offering cost-effective, high-quality EVA-based encapsulants. Jiangsu Sveck Technology Co., Ltd. has established a significant share in the high-transparency and UV-resistant film categories. Mitsui Chemicals benefits from its expertise in polymer technologies and expanding experience in POE segments. The remaining 54-56% of the market includes various regional and emerging players, often focused on specific film types or regional supply needs, making the market highly dynamic. Competition continues to grow with advances in PV material technologies, increased pressure to improve solar module efficiency, and rising demand for next-generation PV encapsulants.

Related Reports:

Photovoltaics Films Market by Raw material (EVA, PVB, POE), Application (Ground-mounted PV, Building-integrated PV) - Forecast to 2030