Market Research Future Published a Research Study on Photovoltaic Coating MarketResearch Report, Size, Share and Industry Analysis – Forecast to 2027
Global Photovoltaic Coating Market – Competitive Landscape
Highly competitive, the photovoltaic coating market appears to be fragmented due to the presence of many large and small-scale players. To gain a substantially larger market share, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and technology launch.
Due to the availability of various similar products and low product differentiation; these players increasingly focus on reducing brand recalls among consumers through effective marketing communications. The high growth potential that the market demonstrates is attracting several new entrants are, which further intensifies the competition in the market.
Major Players:
Players leading the global photovoltaic coatings market include PPG Industries (US), Suntech Power Holdings Co. Ltd (China), Sherwin Williams (US), Axalta Coating Systems (US), AkzoNobel N V (the Netherlands), and BASF SE (Germany), among others.
Global Photovoltaic Coating Market – Segments
The report is segmented into three dynamics to widen the scope of understanding.
By Coating Type : Water, Powder and solvent borne.
By Application : Construction, Automotive, and Textile Industry, among others.
By Region : Europe, North America, APAC, and the Rest-of-the-World (RoW).
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The Photovoltaic Coating Market is growing continually mainly due to its peculiarity of converting any surface into a solar energy receptor without the need of a silicon wafer. Rising demand for electricity, led by the ever-increasing population, rapid industrialization, and urbanization boosts the growth of the market.
While the growing ecological concerns are prompting increasing usages of clean & sustainable energy generation using renewables such as solar/wind/water. Solar energy is the most abundant among renewables, considered crucial to meet the future energy demand of the planet. As a result, solar panel installations that are increasing rapidly, create a massive demand for photovoltaic (PV) coatings.
Market Research Future (MRFR) asserts the global photovoltaic coating market is estimated to reach USD 31.4 Bn by 2027, generating a fabulous CAGR during the forecast period (2016 – 2027). Rising consumer awareness towards the advantageous PV coatings is a key driving force behind the growth of the market.
Additional factors such as rising consumption of electricity and hike in crude oil & natural gas prices are expected to foster the market growth driving the sales of solar panels. Moreover, automotive applications of photovoltaic coating are boosting the growth of the market, powering up electric vehicles on the go, or in the parked stage.
Conversely, the high cost of photovoltaic technologies is expected to impede market growth during the forecast period. Nevertheless, technological advancements expected in the recent future would support the market growth, providing cost-effective manufacturing techniques that can bring down the total selling price of PV coatings.
PV coatings or films are developed using organic photovoltaic technology and chemicals. Hence, these coatings are applied on various surfaces like windows, roofs, streets, or walls to generate energy in the most cost-effective manner, saving almost 98% cost spent on semiconductor materials.
Photovoltaic coatings are majorly applied on solar panels to ensure an extensive collection of solar energy. Hence, it is fair to say that these PV coatings are as efficient as silicon wafer technology that offers cost-efficient solutions in energy conversion. Usages of photovoltaic coatings have proven to be far more efficient, cost-effective & practical ways to increase solar power generation.
Global Photovoltaic Coating Market – Regional Analysis
The Asia Pacific region dominates the global photovoltaic coating market. The largest share within the market can be attributed to a large number of ongoing & upcoming photovoltaic cell development projects in the region. Simultaneously, increasing demand for power, driven by the growing population, industrialization, and urbanization, provides an impetus to the regional market growth.
Furthermore, improving economic conditions alongside, the spreading awareness in the region towards the renewable energy sources are driving the growth of the APAC photovoltaic coating market.
The photovoltaic coating market in regions of Europe and North America are growing significantly at a global level. Factors such as advancements in technologies and the presence of major players, foster the growth of the market in these regions. Also, rising numbers of solar energy plants drive the photovoltaic coating markets in these regions. Besides, well-spread awareness towards the benefits of photovoltaic coatings drives the growth of the market in these regions.
Browse Key Industry insights spread across 120 pages from the Report, “Photovoltaic Coating Market Information Report by Application (Automotive, Construction and textile industry), by Coating Type (Water Borne, Power and solvent borne) and by Region – Forecast to 2027” in detail along with the table of contents@ https://www.marketresearchfuture.com/reports/photovoltaic-coating-market-1514
Industry/ Innovation/Related News:
June 03, 2019 — SolarWindow Technologies, Inc. (the US), a leading developer of transparent electricity-generating liquid coatings, launched a brand awareness campaign for planned electricity-generating window product line. The said campaign is designed to be a multi-media outreach that includes social media, radio, television, trade shows, and print programs.
When applied to glass or plastics, SolarWindow’s coatings convert passive windows into electricity-generating windows, producing power under natural, artificial, low, shaded, and even reflected light conditions. The basic goal of the campaign is to create strong sales as well as investors and potential customer base.
The awareness campaign is designed to promote its planned electricity-generating glass products to its potential customers, including, architects, engineers, designers, developers, contractors & glaziers, and commercial building owners. The company intends to unveil its mega product line SolarWindow through its various upcoming product iterations. The awareness program would define its product line so that it facilitates, appeals, cultivate, and delivers its mission in a consistent, transparent, and credible way.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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