Rising concerns about the need to reduce CO2 emissions and increase the use of renewable energy sources worldwide will stimulate the global photovoltaic market
Feed-in tariffs and politically backed targets boosting renewable energy use will provide further impetus to the photovoltaic market.
This, in turn, will have a positive ripple effect on the demand for photovoltaic materials. Despite turmoil in the global economy, the photovoltaic materials markets experienced only a temporary slide in demand in 2009, with the overall outlook remaining optimistic.
Strategic Analysis of the Global Photovoltaic Materials Markets, finds that the relevant markets generated revenues of $1.34 billion in 2009 and estimates this to reach $1.60 billion in 2010. The study covers the following application sectors: encapsulants, frontsheet, backsheet and anti-reflection coating.
The research also includes the following product types: EVA, PVB, silicones and ionomers as encapsulants; low-iron, patterned and coated glasses and polymers including PVDF, PVF and ECTFE as frontsheet materials; PVDF, PET, PVF, EPDM, EVA and glass as backsheet materials; and elemental oxides as anti-reflection coatings.
"With rising awareness about green trends, the future lies in technologies that offer enhanced energy efficient solutions at a low-cost," notes Frost and Sullivan Research Analyst Gaurav Vyas. "Manufacturers who offer products with optimum performance while remaining price-oriented are poised to gain substantial market share."
Efforts are underway to generate power from renewable sources and protect the environment. In this context, photovoltaic technology is considered to be the most viable solution. Moreover, it is highly competitive in terms of the infrastructure it requires to function. These factors underline the market development.
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