The global market for Encapsulant Materials for PV Modules was estimated to be worth US$ 6993 million in 2024 and is forecast to a readjusted size of US$ 7936 million by 2031 with a CAGR of 1.8% during the forecast period 2025-2031.
An encapsulant is used to provide adhesion between the solar cells, the top surface and the rear surface of the PV module. The encapsulant should be stable at elevated temperatures and high UV exposure. It should also be optically transparent and should have a low thermal resistance. EVA (ethyl vinyl acetate) is the most commonly used encapsulant material. EVA comes in thin sheets which are inserted between the solar cells and the top surface and the rear surface. This sandwich is then heated to 150 °C to polymerize the EVA and bond the module together. Encapsulant materials used in photovoltaic (PV) modules serve multiple purposes; it provides optical coupling of PV cells and protection against environmental stress. Polymers must perform these functions under prolonged periods of high temperature, humidity, and UV radiation. When PV panels were first developed in the 1960s and the 1970s, the dominant encapsulants were based on polydimethyl siloxane (PDMS). Ethylene-co-vinyl acetate (EVA) is currently the dominant encapsulant chosen for PV applications, not because it has the best combination of properties, but because it is an economical option with an established history of acceptable durability. Getting new products onto the market is challenging because there is no room for dramatic improvements, and one must balance the initial cost and performance with the unknowns of long-term service life. Recently, there has been renewed interest in using alternative encapsulant materials with some significant manufacturers switching from EVA to polyolefin elastomer-based (POE) alternatives. The material typically used for this application is Ethylene-Vinyl Acetate (EVA). It had made such a name for itself in the market that it was synonymous with encapsulation, enjoying a monopoly for over three decades. Polyolefin (POE), however, is evolving strongly as an alternative, especially with the growing popularity of bifacial technology. Though bifacial is growing at a faster pace, monofacial market is still larger, meaning EVA still dominates this sector.
Global key players of encapsulant materials for PV modules include First, HIUV, Sveck, Cybrid Technologies, Betterial, etc. The top five players hold a share about 82%. Asia-Pacific is the largest market, has a share about 94%, followed by North America and Europe, with share 3% and 2%, separately.
Market Overview
The global market for encapsulant materials for PV modules is projected to grow steadily in the coming years. This growth is driven by the increasing demand for solar energy, which is fueled by concerns over climate change, fossil fuel depletion, and the need for renewable energy sources.
Market Trends
Shift Towards Alternative Materials: While Ethylene-co-vinyl acetate (EVA) has been the dominant encapsulant material for PV applications due to its economy and acceptable durability, there is a growing interest in alternative materials. Polyolefin elastomer-based (POE) alternatives are gaining popularity as they offer improved durability and resistance to environmental stress.
Increasing Demand for High-Efficiency Modules: The demand for high-efficiency PV modules is driving the need for encapsulant materials that can support higher temperatures and UV exposure without degradation.
Focus on Sustainability: Manufacturers are increasingly focusing on developing encapsulant materials that are environmentally friendly and have a lower carbon footprint.
Market Challenges
Price Volatility: The prices of raw materials used in the production of encapsulant materials can be volatile, which affects the cost and availability of encapsulant materials.
Regulatory Compliance: Manufacturers must comply with various regulatory standards and certifications to ensure the safety and reliability of their products. This can add to the cost and complexity of production.
Competition: The market is highly competitive, with several players vying for market share. This can lead to price wars and reduced profit margins for manufacturers.
Future Outlook
The future outlook for the encapsulant materials for PV modules market is positive. With the increasing demand for solar energy and the need for high-efficiency PV modules, manufacturers are expected to continue investing in research and development to develop new and improved encapsulant materials. Additionally, the shift towards alternative materials such as POE is expected to accelerate, driving further growth in the market.
In conclusion, the encapsulant materials for PV modules market is a dynamic and growing segment within the photovoltaic industry. With the increasing demand for solar energy and the need for high-efficiency modules, manufacturers are expected to continue innovating and expanding their product offerings to meet market demands.
This report aims to provide a comprehensive presentation of the global market for Encapsulant Materials for PV Modules, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Encapsulant Materials for PV Modules by region & country, by Type, and by Application.
The Encapsulant Materials for PV Modules market size, estimations, and forecasts are provided in terms of sales volume (M Sqm) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Encapsulant Materials for PV Modules.
Market Segmentation
By Company
- First
- Sveck
- Betterial
- HIUV
- Cybrid
- Sinopont
- Hanwha
- Crown
- Lifecome
- Vishakha
- Lushan
- Yisheng
- RenewSys
- H.B. Fuller
- Tianyang
- TPI Polene
Segment by Type
- Transparent EVA Film
- White EVA Film
- POE Film
- EPE Film
- Other
Segment by Application
- Single-glass Module
- Double-glass Module
By Region
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Encapsulant Materials for PV Modules manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Encapsulant Materials for PV Modules in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Encapsulant Materials for PV Modules in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 Encapsulant Materials for PV Modules Product Introduction
- 1.2 Global Encapsulant Materials for PV Modules Market Size Forecast
- 1.2.1 Global Encapsulant Materials for PV Modules Sales Value (2020-2031)
- 1.2.2 Global Encapsulant Materials for PV Modules Sales Volume (2020-2031)
- 1.2.3 Global Encapsulant Materials for PV Modules Sales Price (2020-2031)
- 1.3 Encapsulant Materials for PV Modules Market Trends & Drivers
- 1.3.1 Encapsulant Materials for PV Modules Industry Trends
- 1.3.2 Encapsulant Materials for PV Modules Market Drivers & Opportunity
- 1.3.3 Encapsulant Materials for PV Modules Market Challenges
- 1.3.4 Encapsulant Materials for PV Modules Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global Encapsulant Materials for PV Modules Players Revenue Ranking (2024)
- 2.2 Global Encapsulant Materials for PV Modules Revenue by Company (2020-2025)
- 2.3 Global Encapsulant Materials for PV Modules Players Sales Volume Ranking (2024)
- 2.4 Global Encapsulant Materials for PV Modules Sales Volume by Company Players (2020-2025)
- 2.5 Global Encapsulant Materials for PV Modules Average Price by Company (2020-2025)
- 2.6 Key Manufacturers Encapsulant Materials for PV Modules Manufacturing Base and Headquarters
- 2.7 Key Manufacturers Encapsulant Materials for PV Modules Product Offered
- 2.8 Key Manufacturers Time to Begin Mass Production of Encapsulant Materials for PV Modules
- 2.9 Encapsulant Materials for PV Modules Market Competitive Analysis
- 2.9.1 Encapsulant Materials for PV Modules Market Concentration Rate (2020-2025)
- 2.9.2 Global 5 and 10 Largest Manufacturers by Encapsulant Materials for PV Modules Revenue in 2024
- 2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Encapsulant Materials for PV Modules as of 2024)
- 2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 Transparent EVA Film
- 3.1.2 White EVA Film
- 3.1.3 POE Film
- 3.1.4 EPE Film
- 3.1.5 Other
- 3.2 Global Encapsulant Materials for PV Modules Sales Value by Type
- 3.2.1 Global Encapsulant Materials for PV Modules Sales Value by Type (2020 VS 2024 VS 2031)
- 3.2.2 Global Encapsulant Materials for PV Modules Sales Value, by Type (2020-2031)
- 3.2.3 Global Encapsulant Materials for PV Modules Sales Value, by Type (%) (2020-2031)
- 3.3 Global Encapsulant Materials for PV Modules Sales Volume by Type
- 3.3.1 Global Encapsulant Materials for PV Modules Sales Volume by Type (2020 VS 2024 VS 2031)
- 3.3.2 Global Encapsulant Materials for PV Modules Sales Volume, by Type (2020-2031)
- 3.3.3 Global Encapsulant Materials for PV Modules Sales Volume, by Type (%) (2020-2031)
- 3.4 Global Encapsulant Materials for PV Modules Average Price by Type (2020-2031)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.1.1 Single-glass Module
- 4.1.2 Double-glass Module
- 4.2 Global Encapsulant Materials for PV Modules Sales Value by Application
- 4.2.1 Global Encapsulant Materials for PV Modules Sales Value by Application (2020 VS 2024 VS 2031)
- 4.2.2 Global Encapsulant Materials for PV Modules Sales Value, by Application (2020-2031)
- 4.2.3 Global Encapsulant Materials for PV Modules Sales Value, by Application (%) (2020-2031)
- 4.3 Global Encapsulant Materials for PV Modules Sales Volume by Application
- 4.3.1 Global Encapsulant Materials for PV Modules Sales Volume by Application (2020 VS 2024 VS 2031)
- 4.3.2 Global Encapsulant Materials for PV Modules Sales Volume, by Application (2020-2031)
- 4.3.3 Global Encapsulant Materials for PV Modules Sales Volume, by Application (%) (2020-2031)
- 4.4 Global Encapsulant Materials for PV Modules Average Price by Application (2020-2031)
5 Segmentation by Region
- 5.1 Global Encapsulant Materials for PV Modules Sales Value by Region
- 5.1.1 Global Encapsulant Materials for PV Modules Sales Value by Region: 2020 VS 2024 VS 2031
- 5.1.2 Global Encapsulant Materials for PV Modules Sales Value by Region (2020-2025)
- 5.1.3 Global Encapsulant Materials for PV Modules Sales Value by Region (2026-2031)
- 5.1.4 Global Encapsulant Materials for PV Modules Sales Value by Region (%), (2020-2031)
- 5.2 Global Encapsulant Materials for PV Modules Sales Volume by Region
- 5.2.1 Global Encapsulant Materials for PV Modules Sales Volume by Region: 2020 VS 2024 VS 2031
- 5.2.2 Global Encapsulant Materials for PV Modules Sales Volume by Region (2020-2025)
- 5.2.3 Global Encapsulant Materials for PV Modules Sales Volume by Region (2026-2031)
- 5.2.4 Global Encapsulant Materials for PV Modules Sales Volume by Region (%), (2020-2031)
- 5.3 Global Encapsulant Materials for PV Modules Average Price by Region (2020-2031)
- 5.4 North America
- 5.4.1 North America Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 5.4.2 North America Encapsulant Materials for PV Modules Sales Value by Country (%), 2024 VS 2031
- 5.5 Europe
- 5.5.1 Europe Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 5.5.2 Europe Encapsulant Materials for PV Modules Sales Value by Country (%), 2024 VS 2031
- 5.6 Asia Pacific
- 5.6.1 Asia Pacific Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 5.6.2 Asia Pacific Encapsulant Materials for PV Modules Sales Value by Region (%), 2024 VS 2031
- 5.7 South America
- 5.7.1 South America Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 5.7.2 South America Encapsulant Materials for PV Modules Sales Value by Country (%), 2024 VS 2031
- 5.8 Middle East & Africa
- 5.8.1 Middle East & Africa Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 5.8.2 Middle East & Africa Encapsulant Materials for PV Modules Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions Encapsulant Materials for PV Modules Sales Value Growth Trends, 2020 VS 2024 VS 2031
- 6.2 Key Countries/Regions Encapsulant Materials for PV Modules Sales Value and Sales Volume
- 6.2.1 Key Countries/Regions Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.2.2 Key Countries/Regions Encapsulant Materials for PV Modules Sales Volume, 2020-2031
- 6.3 United States
- 6.3.1 United States Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.3.2 United States Encapsulant Materials for PV Modules Sales Value by Type (%), 2024 VS 2031
- 6.3.3 United States Encapsulant Materials for PV Modules Sales Value by Application, 2024 VS 2031
- 6.4 Europe
- 6.4.1 Europe Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.4.2 Europe Encapsulant Materials for PV Modules Sales Value by Type (%), 2024 VS 2031
- 6.4.3 Europe Encapsulant Materials for PV Modules Sales Value by Application, 2024 VS 2031
- 6.5 China
- 6.5.1 China Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.5.2 China Encapsulant Materials for PV Modules Sales Value by Type (%), 2024 VS 2031
- 6.5.3 China Encapsulant Materials for PV Modules Sales Value by Application, 2024 VS 2031
- 6.6 Japan
- 6.6.1 Japan Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.6.2 Japan Encapsulant Materials for PV Modules Sales Value by Type (%), 2024 VS 2031
- 6.6.3 Japan Encapsulant Materials for PV Modules Sales Value by Application, 2024 VS 2031
- 6.7 South Korea
- 6.7.1 South Korea Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.7.2 South Korea Encapsulant Materials for PV Modules Sales Value by Type (%), 2024 VS 2031
- 6.7.3 South Korea Encapsulant Materials for PV Modules Sales Value by Application, 2024 VS 2031
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.8.2 Southeast Asia Encapsulant Materials for PV Modules Sales Value by Type (%), 2024 VS 2031
- 6.8.3 Southeast Asia Encapsulant Materials for PV Modules Sales Value by Application, 2024 VS 2031
- 6.9 India
- 6.9.1 India Encapsulant Materials for PV Modules Sales Value, 2020-2031
- 6.9.2 India Encapsulant Materials for PV Modules Sales Value by Type (%), 2024 VS 2031
- 6.9.3 India Encapsulant Materials for PV Modules Sales Value by Application, 2024 VS 2031
7 Company Profiles
- 7.1 First
- 7.1.1 First Company Information
- 7.1.2 First Introduction and Business Overview
- 7.1.3 First Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.1.4 First Encapsulant Materials for PV Modules Product Offerings
- 7.1.5 First Recent Development
- 7.2 Sveck
- 7.2.1 Sveck Company Information
- 7.2.2 Sveck Introduction and Business Overview
- 7.2.3 Sveck Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.2.4 Sveck Encapsulant Materials for PV Modules Product Offerings
- 7.2.5 Sveck Recent Development
- 7.3 Betterial
- 7.3.1 Betterial Company Information
- 7.3.2 Betterial Introduction and Business Overview
- 7.3.3 Betterial Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.3.4 Betterial Encapsulant Materials for PV Modules Product Offerings
- 7.3.5 Betterial Recent Development
- 7.4 HIUV
- 7.4.1 HIUV Company Information
- 7.4.2 HIUV Introduction and Business Overview
- 7.4.3 HIUV Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.4.4 HIUV Encapsulant Materials for PV Modules Product Offerings
- 7.4.5 HIUV Recent Development
- 7.5 Cybrid
- 7.5.1 Cybrid Company Information
- 7.5.2 Cybrid Introduction and Business Overview
- 7.5.3 Cybrid Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.5.4 Cybrid Encapsulant Materials for PV Modules Product Offerings
- 7.5.5 Cybrid Recent Development
- 7.6 Sinopont
- 7.6.1 Sinopont Company Information
- 7.6.2 Sinopont Introduction and Business Overview
- 7.6.3 Sinopont Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.6.4 Sinopont Encapsulant Materials for PV Modules Product Offerings
- 7.6.5 Sinopont Recent Development
- 7.7 Hanwha
- 7.7.1 Hanwha Company Information
- 7.7.2 Hanwha Introduction and Business Overview
- 7.7.3 Hanwha Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.7.4 Hanwha Encapsulant Materials for PV Modules Product Offerings
- 7.7.5 Hanwha Recent Development
- 7.8 Crown
- 7.8.1 Crown Company Information
- 7.8.2 Crown Introduction and Business Overview
- 7.8.3 Crown Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.8.4 Crown Encapsulant Materials for PV Modules Product Offerings
- 7.8.5 Crown Recent Development
- 7.9 Lifecome
- 7.9.1 Lifecome Company Information
- 7.9.2 Lifecome Introduction and Business Overview
- 7.9.3 Lifecome Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.9.4 Lifecome Encapsulant Materials for PV Modules Product Offerings
- 7.9.5 Lifecome Recent Development
- 7.10 Vishakha
- 7.10.1 Vishakha Company Information
- 7.10.2 Vishakha Introduction and Business Overview
- 7.10.3 Vishakha Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.10.4 Vishakha Encapsulant Materials for PV Modules Product Offerings
- 7.10.5 Vishakha Recent Development
- 7.11 Lushan
- 7.11.1 Lushan Company Information
- 7.11.2 Lushan Introduction and Business Overview
- 7.11.3 Lushan Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.11.4 Lushan Encapsulant Materials for PV Modules Product Offerings
- 7.11.5 Lushan Recent Development
- 7.12 Yisheng
- 7.12.1 Yisheng Company Information
- 7.12.2 Yisheng Introduction and Business Overview
- 7.12.3 Yisheng Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.12.4 Yisheng Encapsulant Materials for PV Modules Product Offerings
- 7.12.5 Yisheng Recent Development
- 7.13 RenewSys
- 7.13.1 RenewSys Company Information
- 7.13.2 RenewSys Introduction and Business Overview
- 7.13.3 RenewSys Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.13.4 RenewSys Encapsulant Materials for PV Modules Product Offerings
- 7.13.5 RenewSys Recent Development
- 7.14 H.B. Fuller
- 7.14.1 H.B. Fuller Company Information
- 7.14.2 H.B. Fuller Introduction and Business Overview
- 7.14.3 H.B. Fuller Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.14.4 H.B. Fuller Encapsulant Materials for PV Modules Product Offerings
- 7.14.5 H.B. Fuller Recent Development
- 7.15 Tianyang
- 7.15.1 Tianyang Company Information
- 7.15.2 Tianyang Introduction and Business Overview
- 7.15.3 Tianyang Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.15.4 Tianyang Encapsulant Materials for PV Modules Product Offerings
- 7.15.5 Tianyang Recent Development
- 7.16 TPI Polene
- 7.16.1 TPI Polene Company Information
- 7.16.2 TPI Polene Introduction and Business Overview
- 7.16.3 TPI Polene Encapsulant Materials for PV Modules Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.16.4 TPI Polene Encapsulant Materials for PV Modules Product Offerings
- 7.16.5 TPI Polene Recent Development
8 Industry Chain Analysis
- 8.1 Encapsulant Materials for PV Modules Industrial Chain
- 8.2 Encapsulant Materials for PV Modules Upstream Analysis
- 8.2.1 Key Raw Materials
- 8.2.2 Raw Materials Key Suppliers
- 8.2.3 Manufacturing Cost Structure
- 8.3 Midstream Analysis
- 8.4 Downstream Analysis (Customers Analysis)
- 8.5 Sales Model and Sales Channels
- 8.5.1 Encapsulant Materials for PV Modules Sales Model
- 8.5.2 Sales Channel
- 8.5.3 Encapsulant Materials for PV Modules Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.1.1 Research Programs/Design
- 10.1.1.2 Market Size Estimation
- 10.1.1.3 Market Breakdown and Data Triangulation
- 10.1.2 Data Source
- 10.1.2.1 Secondary Sources
- 10.1.2.2 Primary Sources
- 10.2 Author Details
- 10.3 Disclaimer