Photovoltaic Coating Market Report Global Industry Size, Segment By Key Companies, Types And Applications And Forecast To 2030

 Overview: 

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.

Photovoltaic Coating Market 



The global photovoltaic coating market is showing significant growth prospects during the forecast period of 2019 to 2027. Market Research Future (MRFR) included several pointers in the report that can ensure an easy understanding of the proceedings of the market. These factors are growing reliance on innovation and better technical support, increasing intake from the automotive and construction sectors, rising investment support from both government and private bodies, demand for means to curb the electricity cost, and others. Increasing eco-awareness is expected to encourage the sector further. 

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.

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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.


Segmentation: 

MRFR’s understanding of the photovoltaic coating market is on the basis of an effective segmentation that includes application and type. This segmentation helps in understanding details that can influence the market. It reveals various insights and figures that will simplify the study of the market. 

By application, the global market report containing information on the photovoltaic coatings can be segmented on the basis of the construction, automotive, and textile industry. The automotive segment is growing at a rapid speed as it is known for its easy inclusion due to the rise in demand for sustainable energy. In the construction sector, a lot of commercial and residential buildings are opting for this to reduce their electricity bills. 

By coating type, the market report contains segments like water-borne, power, and solvent-borne. The water-borne segment is getting traction to make the process much more sustainable in environmental terms.


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.

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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  About Market Research Future - 

 At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles. 

MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

 In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.

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