The global solar backsheet market is estimated to be USD 1.71 Billion in 2018 and is projected to reach USD 2.40 Billion by 2023, growing at a CAGR of 7.02%, from 2018 to 2023. An increase in solar PV installation along with policy support from governments for the adoption of renewable technologies would contribute to the growth of the solar backsheet market.
Asia Pacific would continue to be the largest market for solar backsheet, followed by North America, during the forecast period. The global market is dominated by major players including Cybrid (China), Jolywood (China), Coveme (Italy), Krempel (Germany), and Hangzhou First (China).
The market growth strategies adopted by the key players in the solar backsheet market include contracts & agreements, new product launches, expansions and investments, mergers & acquisitions, joint ventures, and partnerships and collaborations. Contracts & agreements was the most commonly adopted strategy by market players from January 2014 to December 2017. Industry players also used the investments and expansions strategy to gain a larger market share during the stated period.
Cybrid is a leading supplier of solar backsheet; it develops and manufactures products made from polymer materials. The company offers other products such as encapsulants, insulation films, ribbons, and tapes primarily for the global PV solar industry. The company has a history of developing products in the field of advanced functional polymer materials, which has made its products compatible with the photovoltaics, mobile communications, and electrical materials sectors. Cybrid also provides repair products for the repair and protection of backsheets, namely, aerosol-based fluoropolymer coating and PSA adhesive tape. Some of the company’s partners are Toshiba, JA Solar, GCL, Canadian Solar, and Trina Solar. The company is focused on increasing its production capacity to meet the growing demand for solar backsheet in Asia Pacific. It is also engaged in developing innovative material solutions through partnerships and joint ventures.
Jolywood is a Chinese company manufacturing and selling solar module backsheet in China and internationally. Other ventures of the company include manufacturing of n-type bifacial solar cells and investments in the installation and operation of distributed photovoltaic systems. The company is one of the largest professional manufacturers of photovoltaic backsheet globally, with an annual production capacity of more than 100 million meters. The company has been able to become one of the key players in the backsheet industry due to its inclination toward constant innovation. Jolywood uses a patented coating approach based on a PLC flow tangent coating process, which has helped the company save fluorine by one-third to one-half as compared to regular fluoropolymers. The company has a strong customer base in Asia Pacific.
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
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