PV 모듈용 봉지재 시장 규모, 점유율, 성장 분석 : 봉지재 유형별, 태양광 모듈 기술별, 용도별, 모듈 설계별, 첨가제별, 지역별 산업 예측(2025-2032년)

Global Encapsulant Material for PV Module Market size was valued at USD 2.8 billion in 2023 and is poised to grow from USD 2.99 billion in 2024 to USD 5.1 billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032).

The global encapsulant material market for photovoltaic (PV) modules is set for robust growth, spurred by the increasing adoption of solar PV systems, supportive government policies for renewable energy, and a collective movement towards decarbonization. Encapsulants are essential for enhancing durability, optical performance, and protection of PV modules, fostering their use across residential, commercial, and utility applications. Key players are concentrating on developing advanced materials such as EVA, POE, and thermoplastics to boost module efficiency and longevity. Despite challenges like high raw material costs and processing complexities, ongoing R&D into transparent, UV-stable, and recyclable materials, alongside adherence to regional regulations, is reshaping the sector. The Asia-Pacific region leads market growth, with Europe and North America following closely, while Latin America and the Middle East & Africa present promising potential due to favorable conditions for solar development.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Encapsulant Material for PV Module market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Encapsulant Material for PV Module Market Segments Analysis

Global Encapsulant Material for PV Module Market is segmented by Encapsulant Type, PV Module Technology, Application, Module Design, Additives and region. Based on Encapsulant Type, the market is segmented into Ethylene Vinyl Acetate (EVA), Polyolefin Elastomer (POE), Thermoplastic Polyurethane (TPU), Polyvinyl Butyral (PVB) and Ionic Liquid Encapsulants. Based on PV Module Technology, the market is segmented into Monocrystalline Silicon, Polycrystalline Silicon and Thin-Film Photovoltaics. Based on Application, the market is segmented into Residential, Commercial and Utility-Scale. Based on Module Design, the market is segmented into Framed Modules, Frameless Modules and Bifacial Modules. Based on Additives, the market is segmented into Antioxidants, UV Stabilizers, Anti-Reflective Coatings and Fire Retardants. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Encapsulant Material for PV Module Market

The Global Encapsulant Material market for PV Modules is being driven by a surge in innovation focusing on high-performance and sustainable materials. Manufacturers are prioritizing the development of encapsulants that provide resistance to UV rays, maintain stability under elevated temperatures, and offer recyclability, all of which contribute to enhancing the durability and efficiency of solar modules. Additionally, advancements in encapsulant technologies are essential to meet the rising demand for bifacial solar cells and high-efficiency solar cells, ensuring that products can adapt to market needs while promoting more sustainable energy solutions.

Restraints in the Global Encapsulant Material for PV Module Market

The Global Encapsulant Material for PV Module market faces significant challenges due to the rising production costs associated with advanced polymers, composites, and specialty additives. These elevated costs negatively impact the overall market outlook. Additionally, fluctuations in raw material prices, compounded by disruptions in global supply chains, create further complications for encapsulant producers. This dynamic necessitates a strong focus on cost control and effective sourcing strategies, as managing these expenses becomes crucial for maintaining competitiveness and operational efficiency within the industry, ultimately influencing the market's growth potential.

Market Trends of the Global Encapsulant Material for PV Module Market

The global encapsulant material market for photovoltaic (PV) modules is witnessing a significant trend towards the development of advanced materials tailored for bifacial and high-power modules. Manufacturers are increasingly focusing on high-transparency and UV-stable encapsulants to enhance energy yield, thereby optimizing performance in utility-scale installations. This shift is driven by the growing demand for renewable energy solutions and the need for efficient solar technologies. As the solar energy sector expands, the emphasis on durable and high-performing encapsulants is expected to lead to innovations that improve longevity and efficiency, further propelling market growth in the renewable energy landscape.

Table of Contents

Introduction

• Objectives of the Study
• Scope of the Report
• Definitions

Research Methodology

• Information Procurement
• Secondary & Primary Data Methods
• Market Size Estimation
• Market Assumptions & Limitations

Executive Summary

• Global Market Outlook
• Supply & Demand Trend Analysis
• Segmental Opportunity Analysis

Market Dynamics & Outlook

• Market Overview
• Market Size
• Market Dynamics
  • Drivers & Opportunities
  • Restraints & Challenges
• Porters Analysis
  • Competitive rivalry
  • Threat of substitute
  • Bargaining power of buyers
  • Threat of new entrants
  • Bargaining power of suppliers

Key Market Insights

• Key Success Factors
• Degree of Competition
• Top Investment Pockets
• Market Ecosystem
• Market Attractiveness Index, 2024
• PESTEL Analysis
• Macro-Economic Indicators
• Value Chain Analysis
• Pricing Analysis

Global Encapsulant Material for PV Module Market Size by Encapsulant Type & CAGR (2025-2032)

• Market Overview
• Ethylene Vinyl Acetate (EVA)
• Polyolefin Elastomer (POE)
• Thermoplastic Polyurethane (TPU)
• Polyvinyl Butyral (PVB)
• Ionic Liquid Encapsulants

Global Encapsulant Material for PV Module Market Size by PV Module Technology & CAGR (2025-2032)

• Market Overview
• Monocrystalline Silicon
• Polycrystalline Silicon
• Thin-Film Photovoltaics

Global Encapsulant Material for PV Module Market Size by Application & CAGR (2025-2032)

• Market Overview
• Residential
• Commercial
• Utility-Scale

Global Encapsulant Material for PV Module Market Size by Module Design & CAGR (2025-2032)

• Market Overview
• Framed Modules
• Frameless Modules
• Bifacial Modules

Global Encapsulant Material for PV Module Market Size by Additives & CAGR (2025-2032)

• Market Overview
• Antioxidants
• UV Stabilizers
• Anti-Reflective Coatings
• Fire Retardants

Global Encapsulant Material for PV Module Market Size & CAGR (2025-2032)

• North America (Encapsulant Type, PV Module Technology, Application, Module Design, Additives)
  • US
  • Canada
• Europe (Encapsulant Type, PV Module Technology, Application, Module Design, Additives)
  • Germany
  • Spain
  • France
  • UK
  • Italy
  • Rest of Europe
• Asia Pacific (Encapsulant Type, PV Module Technology, Application, Module Design, Additives)
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Latin America (Encapsulant Type, PV Module Technology, Application, Module Design, Additives)
  • Brazil
  • Rest of Latin America
• Middle East & Africa (Encapsulant Type, PV Module Technology, Application, Module Design, Additives)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Intelligence

• Top 5 Player Comparison
• Market Positioning of Key Players, 2024
• Strategies Adopted by Key Market Players
• Recent Developments in the Market
• Company Market Share Analysis, 2024
• Company Profiles of All Key Players
  • Company Details
  • Product Portfolio Analysis
  • Company's Segmental Share Analysis
  • Revenue Y-O-Y Comparison (2022-2024)

Key Company Profiles

• Hangzhou First Applied Material Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Jiangsu Sveck Photovoltaic New Material Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Shanghai HIUV New Materials Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Cybrid Technologies Inc. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Betterial (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• RenewSys India Pvt. Ltd. (India)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Guangzhou Lushan New Materials Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Zhejiang Sinopont Technology Co., Ltd. (China)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Mitsui Chemicals, Inc. (Japan)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Dow Inc. (United States)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• DuPont (United States)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• 3M (United States)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Wacker Chemie AG (Germany)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Hanwha Solutions (South Korea)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• H.B. Fuller Company (United States)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Satinal SpA (Italy)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Tokuyama Corporation (Japan)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Elkem ASA (Norway)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Vishakha Renewables Pvt. Ltd. (India)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments
• Lucent CleanEnergy (India)
  • Company Overview
  • Business Segment Overview
  • Financial Updates
  • Key Developments

Conclusion & Recommendations