Global Solar Panel Coatings Market was valued US$ 3.5 Bn in 2017 and is estimated to reach US$ 19.0 Bn by 2026 at a CAGR of 23.55 %.
Strong government-support to generate renewable energy by using solar panels accelerates the market growth. Solar panels are being extensively utilized in generating energy in residential and utility scale. Solar panel coatings possess an excellent absorption capacity and high light transitivity thereby exhibiting maximum efficiency.
Residential segment is anticipated to dominate the market throughout the forecast period. Rise in the adoption of installation of solar panels for generating energy and rising demand for installing rooftop solar panels for generating solar energy. Rooftop solar panels comprise 80 % share.
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Anti-reflective coatings enhance the absorption capacity, improve light transitivity, and reduce the reflection, thereby improving the overall efficiency of solar panels hence drives the demand for anti-reflective solar panel coatings. Hydrophobic segment is the second largest segment of solar panel coatings market and is estimated to witness considerable demand in the forecast. Excellent property of hydrophobic coatings does not allow the water to remain on the surface of solar panels.
The Asia Pacific is growing at a rapid pace due rise in the demand for solar panels to generate energy. In the Asia Pacific, China is major consumer of solar panel installation, 45% of the capacity is installed by China in the year 2017. Runner-ups in the total installation are United States, Germany, Japan, India and Italy respectively.
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The report covers the total market for solar panel coatings and the impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. This gives an idea about the key drivers, such as high growth and demand in emerging economies countries.
Scope of the Global Solar Panel Coatings Market
Global Solar Panel Coatings Market, by Product:
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Global Solar Panel Coatings Market, by End-Use Industry:
Global Solar Panel Coatings Market, by Region:
Middle East & Africa
Key Players analyzed in the Report:
NanoTech Products Pty Limited
Koninklijke DSM N.V
PPG Industries Inc.
Diamon-Fusion International Inc. (DFI)