As per the new research report published by Allied Market Research, the global solar panel coatings market was over $2.08 billion in 2020, and is estimated to reach $15.7 billion by 2030, witnessing a CAGR of 22.4% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Eswara Prasad, a Manager, Chemicals and Materials at Allied Market Research, stated, “Rapidly growing importance of renewable energy especially related to solar energy led to the surge in the demand for solar PV industries which directly led to the surge in the demand for solar panel coating market. The increase in the innovation and development of the electronic driven appliances and machinery led to increase in energy consumption which has positive impact on the solar panel coating market. Embracing the future demands for the power and the presence of unlimited solar energy resource and the government support policies towards the development of the solar power plants led to the business expansion of many companies to develop more efficient solar panels. Depletion of fossil fuel resources, increase in the global warming across the world, and increase in investment from government and private organizations are expected to create potential opportunities for the solar panel coating market during the forecast period.”
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The report offers detailed segmentation of the global solar panel coatings market based on type, end use, and region.
Based on type, the hydrophobic segment held the highest market share in 2020, accounting for around one-third of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the anti-soiling segment is estimated to register the highest CAGR of 22.4% from 2021 to 2030.
Based on end use, the energy segment held the largest market share in 2020, accounting for more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the commercial segment is projected to register the highest CAGR of 23.2% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, contributing to more than one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 23.3% during the forecast period.
Leading players of the global solar panel coatings market analyzed in the research include Arkema Group, Advanced Nanotech Lab, Diamon-Fusion International Inc., Fenzi SpA, Koninklijke DSM N.V, Nanoman, Nanopool GmbH, PPG Industries Inc., Unelko Corporation, and 3M.
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Key Benefits for Stakeholders:
• The global solar panel coatings market size has been analyzed across four major regions.
• Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of global market for strategy building.
• The report outlines the current market trends and future scenario of the market size from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
• Major countries in each region have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, opportunities & global market trends along with their detailed impact analysis are elucidated in the study.
• The global solar panel coatings market analysis covers in-depth information of the major industry participants.
• During the outbreak of the COVID-19 pandemic, solar panel coatings industries have been significantly affected due to disruptions in the supply chain and improper transportation of raw materials
• In addition, decline in the usage of power led to decline in the demand for the solar panel industry market.
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