Solar photovoltaic glass, also known as solar glass, is a specially coated glass surface used in solar or photovoltaic panels for its light transmission and low iron content properties. Solar glass transmits the light and blocks infrared and ultraviolet rays to optimize the solar panel's efficiency. Glass is non-combustible, durable, versatile, chemically inert and holds a long lifespan. Solar photovoltaic glass is manufactured through different processes such as pyrolysis, chemistry vapor deposition, and sputtering to develop antireflective coatings. These coatings help to absorb more sunlight and convert it into electricity.

The global solar photovoltaic glass market is estimated to be valued at US$ 15.38 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Global Solar Photovoltaic Glass Market Size are Dow, Sherwin-Williams Company, PPG Industries Inc, Axalta Coating Systems Ltd , Akzo Nobel NV, ICA SpA, Covestro AG.

Key players operating in the solar photovoltaic glass are focusing on product innovation and expanding their business operations to strengthen market presence. For instance, in 2022, Dow introduced AmberClear HI solar encapsulants to enhance PV module performance and reliability.

The demand for solar PV glass is increasing from the solar PV industry owing to the rising solar PV installations globally. Solar capacity additions have been increasing in countries like China, India, the US, and across Europe. According to IRENA, global solar PV capacity reached over 880 GW in 2021 and is estimated to reach over 4,800 GW by 2050.

Technological advancements are helping to improve the performance of solar PV modules by developing better coatings for higher light transmission and increased efficiency of solar cells. Companies are investing in R&D to develop new product formulations, coating technologies and production processes.

Market Trends

Thin-film technology: Thin-film solar technology uses very thin layers of photovoltaic material instead of wafers to convert sunlight into electricity. The thin-film PV glass market is growing with improvements in thin-film materials like Cadmium Telluride and CIS/CIGS.

Green building initiatives: Roof-integrated photovoltaic (BIPV) systems are being widely adopted in green construction to partially or completely replace conventional building materials like tiles, metal or shingles. This is driving demand for associated solar encapsulants and photovoltaic glass.

Market Opportunities

Floating solar PV projects: Floating PV systems installed on water bodies can help optimize land usage. Solar PV glass demand is expected to grow from such innovative floating solar projects being deployed worldwide.

Agrivoltaics: The agrivoltaic concept of integrating solar panels with agriculture and livestock grazing is gaining momentum. It offers opportunities for developing dual-use solar photovoltaic glass optimized for such applications.

Impact of COVID-19 on Solar Photovoltaic Glass Market Growth

The COVID-19 pandemic has negatively impacted the growth of the solar photovoltaic glass market. The imposition of lockdowns and supply chain disruptions led to delays in new solar PV installation projects across major markets such as Europe, North America and Asia Pacific. Industries involved in the manufacturing and supply of solar photovoltaic glass faced operational challenges due to shortage of workforce and rising logistics costs. This led to disruption in production and supply volumes in the initial months of the pandemic. Existing projects also witnessed delays due to restrictions on site visits and new inter-connections. However, governments of many countries considered solar installation as an essential service which helped limit the impact to some extent. With easing of lockdowns and resumption of construction activities from mid-2020, the market is recovering gradually. Post COVID-19, increasing investments in renewable energy coupled with policy support for clean energy transition are likely to drive demand. Manufacturers will need to establish resilient supply chains and enhance production capacities to cater to the growing demand in the forecast period.

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