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The Market of Solar Panel Adhesives Is Projected To Grow At a Rate Of 20.4% during the Forecast Period
The demand for Solar Panel Adhesives is dependent upon the production of solar panels across the globe. There is a substantial contribution of the governmental policies that are shifting towards renewable energy sources that could be boosting the demand for solar panel manufacturing. Moreover, the customers are also opting for photovoltaic energy sources that are propelling the growth of solar panel adhesives during the forecast period. Therefore organizations are also investing heavily into these offerings for an advanced kind of solar panel adhesives that could withstand different extreme temperatures and other natural factors.
There is an advent in solar panel manufacturing and final products that require solar panel adhesives in good amounts. This has boosted the application of solar panel adhesives that need to be used for the manufacturing of the final products. Advancement in technology has increased the production capabilities of solar panels with a variety of materials and with advanced features that require suitable solar panel adhesives in order to maintain standards and quality.
Despite the advancements in the photovoltaic roofing materials, there is an increased need for the fewer weight materials that could serve the market dynamics. Moreover, the roofs are irregular in nature which requires solar panel adhesives that could suffice the need to fill the gaps, bond strongly and would be durable in nature. Such requirements for mounting solar panels are significantly contributing to the development and application of solar panel adhesives on a variety of surfaces. These adhesives are increased in their demand due to their significant contribution to the solar panel as fixtures and sealants.
The latest technologies enable a to have a lower cost, which is adjustable in the photovoltaic building material having lesser weight, self-bondage ability, that could be adhered to a variety of building structures. These adhesive materials consist of material such as polymeric material like ethylene-vinyl acetate, fluoropolymers, and mixtures that are having glass fibers disposed off of. It is in high demand due to their capabilities to be rolled while shipping and these materials have lesser flammability hence they could be incorporated into the firebreak systems in order to constrain the spread of a flame.
These adhesives could also apply for automobile and consumer goods for offering significant product quality and standards. The solar panel construction materials also need contact adhesives utilized for adherence to the building materials. The photovoltaic building material further includes contact adhesive, often covered by a sheet of release material, which is used to affix the module onto a building structure. The contact adhesive comprises a rubberized asphalt. The substrate may be any typical roofing material such as metallic foils, polymeric membranes, and polymer impregnated fiber mats.
The higher performance of the solar panel adhesives that have properties of decreased cost and increased adhesiveness towards the dissimilar materials increases the market growth worldwide. The global economy has significant growth in GDP. This is because of the substantial industrialization of most of the regions across the world. Further, the demand for solar panel adhesives are dependent on decreasing the adverse effects of harmful chemicals caused by these adhesives is limiting the growth.
Currently, the solar panel adhesives manufacturing organizations are focusing on environmentally friendly products that could increase the market demand. It is essential for the current government policies that are substantiating the market demand of the solar panel adhesives market. There is a growth of organic solvents and water-based solar panel adhesives have a considerable market growth potential that could be substantiating the need for eco-friendly adhesive products in the global market.
Electrically Conductive Adhesives held a significant share in Global Panel Adhesives Market:
The market for the electrically conductive adhesives that are based on silicon technology has a substantial performance in the market. This is because of their electrical and mechanical bonding that is high in nature enabling the solar panels to be of considerable durability. There is a higher advent in the electrically conductive pressure-sensitive adhesives because of its homogenous conductive adhesive technology which has suitable electrical contact points by the application of this adhesive that had boosted the solar panel adhesives market. These adhesives have a high form of good mechanical bonding and have high-performance capabilities contributing to the growth of solar panel adhesives. The electrically conductive materials are also being utilized among the emerging automated back contact module assembly process enabling automation, strong throughput rate and with a good yield.
Electrically Conductive Adhesives Our electrically conductive pressure-sensitive adhesives (PSAs) feature our homogenous conductive adhesive technology that forms stable conductive bonds to electrical contact points under a wide range of environmental conditions. The adhesive can be provided in a transfer adhesive format or coated onto a tin-plated copper foil backing as an alternative bus bar material for delivering highly-reliable conductivity in thin-film photovoltaic modules.
Leveraging decades of experience in silicone technology, our new electrically conductive adhesives, provide for high-performance electrical and mechanical bonding. They also enable the emerging automated back-contact module assembly process –permitting automation, high throughput, and high yield. These are silicon-based adhesives that have considerable electrical conductivity and flexibility that shall decrease the cost of these solar panels. Such advantages in the usage of electrically conductive adhesives have contributed to the higher demand for the solar panel adhesive in the market. The stability of the solar panel adhesives is at greater importance as these increase the stability of the solar panel adhesives as they are under constant thermal stress. These adhesives have greater affordability due to the less quantity of silver usage and hence have a greater conductivity.
The Asia Pacific dominated the Global Solar Panel Adhesive Market in 2018:
The market of solar panel adhesives is exponentially increasing in the Asia Pacific region due to the shift of the end-users in power consumption towards the solar sources of renewable energy. The organizations are constantly putting investments to increase the standards of solar panels globally. Such investments in the market are driving advancements in solar panels with high standards that could boost the demand for the solar panel adhesives in the global market. The governments in this region are also encouraging the adoption of solar panels that are contributing to the increased market share of solar panel adhesives.
The region has become more and more sensitive towards environmental pollutants encouraging the growth of solar panel adhesive in this region. Countries, especially including India and China, have major plans in the establishments of solar power plants that shall not only increase customer's demand for these energy sources. The governments in this region are also offering subsidies to the customers who install these solar plants and contribute to the country's power resources. During the forecast period, the solar panel adhesive has a healthy growth of CAGR due to its heavy applicability in the solar panel power plants.
The market for the solar panel adhesives is consolidated hence have fewer competitor companies established globally. There is a moderate demand among the customers for these adhesives due to the moderate adoption of solar panel plant installation globally.
Key competitors that are existing in the solar panel adhesives market are stated as follows: 3M Company, H.B. Fuller, Evonik Industries, Epic Resins, and Dow Corning Corporation.
Key segments of Solar Panel Adhesives:
- Silane Modified Polymers (SMP)
- Electrically conductive
- Solar panel plants
- Automotive & Transportation
- North America
- Latin America
- Asia pacific
- Middle East & Africa