Asia-Pacific Solar Photovoltaic Materials Market Trends and Forecast 2028: Growth & Market Size

The Asia-Pacific Solar Photovoltaic Materials market is projected to grow at a CAGR of around 10.2% during the forecast period, i.e., 2023-28.                                       

Asia-Pacific Solar Photovoltaic Materials Market Dynamics:

Growing Focus on the Solar Power Projects to Fuel the Demand - Asia-Pacific region is witnessing a rapid increase in urban population, with a noticeable number of people migrating from sub-urban to urban places. This upsurge in urbanization & industrialization has led to a rise in the demand for electricity, for which the region has been dominantly dependent on fossil fuels such as coal, petroleum, natural gas, etc. Further, fossil fuel resources are severely exhausted during the past few years, which has been encouraging governments across different countries of the region to shift towards a renewable source of energy. Hence, to cope with the challenges & meet the carbon-neutrality targets of both the public & private sectors, the proclivity towards sustainable sources of energy has grown. This has resulted in the deployment of many large-scale solar power projects, subsequently enhancing the demand for solar photovoltaic panels on a large scale during 2018-2022.

Furthermore, with the advancing development in the urban areas of countries like India, China, Australia, etc., the electricity demand is expected to be enhanced exponentially in the coming years, which would stress the need for expanding power generation infrastructure. Hence, various significant solar power projects are lined up to construct & commence operations in the forecasted years, which would boost the growth of the Solar Photovoltaic materials market in the Asia-Pacific during 2023-2028.

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Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Asia-Pacific Solar Photovoltaic Materials Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2022

-Historical Period: 2018 to 2021

-Forecast Period: 2023-28

• By Material
  • Silicon
    • Polycrystalline Silicon
    • Monocrystalline Silicon
  • Thin Film Photovoltaics
    • Cadmium Telluride (CdTe)
    • Copper Indium Gallium Selenide (CIGS)
  • Concentrator Photovoltaics
  • Others (Organic Photovoltaics, Multijunction Photovoltaics, etc.)
• By Technology
  • Half-Cell (HC) Technology
  • Multi-Busbar (MBB) Technology
  • Bifacial Technology
  • Passivated Emitter and Rear Cell (PERC) technology
  • Others (Tiling Ribbon Technology, N-Type Technology, etc.)
• By Power Output Range
  • Less than 300 Watts
  • 300-400 Watts
  • 401-500 Watts
  • Above 500 Watts
• By Application
  • Residential
  • Commercial
  • Utility
• By Country
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia
  • Rest of the Asia-Pacific

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including -   Jinko Solar, Trina Solar, BASF SE, DuPont, Shin-Etsu Chemical Co. Ltd, Ferrotech Corporation, Wacker Chemie AG, Okemetic, GCL-Poly Energy Holdings Ltd., Motech Industries Inc., Lanco Solar, Great Solar Materials, Others

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