Oct 31,2022 | Renewable Energy
Solar photovoltaic (PV) panels, generally comprises of arrays of photovoltaic cells or solar cells, which are semiconductor devices that convert sunlight into direct current electricity. Solar panels are made using solar cells electrically connected together and encapsulated in a weather-proof panel.
Due to different weather conditions, the solar photovoltaic (PV) panels suffer from losing their efficiency as a result of snowfall, dust and airborne dirt, which results in degradation in solar panel performance. Light transmission from the outer surfaces of solar panels is reduced as a result of dust accumulation, leading to less photon absorption, which lowers the overall efficiency of the panel system. To overcome this issue, solar panels are treated with coating during the manufacturing period. Coatings make panels resistant to impact and scratches while providing water proof properties to prevent accumulation of water. Further, they are coated with anti-reflective coating, hydrophobic coating material to prevent dust and water accumulation on the solar panels.
The solar panel and coating market is anticipated to grow at a CAGR of more than 16% in value terms in the forecast period. According to the report, based on panel type, market is segmented into three major panel type i.e. Monocrystalline, polycrystalline and thin film solar panel. The polycrystalline solar panel is leading the market with more than 48% of value market share and it is anticipated to capture higher market share in forecast period. Followed by the monocrystalline segment having the second highest market shares. Monocrystalline solar panels are the oldest type of solar panels.
Since monocrystalline solar panels are made from pure silicon, they can be readily identified by their dark black colour. The use of pure silicon also makes monocrystalline panels the most efficient and long lifespan among all three solar panel types. Solar panels are coated with various types of coating to improve efficiency and lifespan of the solar panel. Besides, the market is segmented into anti-reflective, hydrophobic, self-cleaning, anti-soiling, anti-abrasion and others coatings type. The anti-reflective coating type is leading the market with more than 29% of value market share.
There are many prominent companies in the solar panel market which are leading the market. The companies are Longi Green Energy Technology Co., Limited, Jinko Solar Holding Co., Limited, Trina Solar Co., Limited. JA Solar Technology Co., Limited, Canadian Solar Inc. and there is also prominent company in solar panel coating market which are driving the market. The companies are Koninklijke DSM N.V., 3M Company, Arkema S.A., Optitune Oy and Diamon-Fusion International, Inc.
The market research report procured on Bharatbook under the categories of Energy and Renewable Energy is useful to industry consultants, manufacturers, suppliers, associations & organizations related to solar panel and coatings industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
For more insights on the aforementioned market, please visit Global Solar Panel & Coating Market Outlook, 2027.