Photovoltaic Materials Market– Overview
This
is attributed to the growing concerns regarding depleting natural
resource and increasing carbon footprint has driven the innovation in
the field of green energy. On the backdrop of increasing pollution
resulted from overutilization of non-renewable energy sources the need
for green source of energy is strongly felt by the world. In addition to
this, with rapid industrialization, emerging economies in Asia Pacific,
Latin America, and Africa are craving for energy. Moreover, Paris
Agreement, Marrakesh Treaty, and other climate pacts are propelling the
countries to adopt greener energy solutions. Additionally, with rising
awareness about green trends, the future will lie in technologies that
offer enhanced energy-efficient solutions at a low cost. Manufacturers
who offer products with optimum performance while remaining
price-orientated will be poised to gain substantial market share.
However, the market will be effected due to PV materials as they are
most expensive form of renewable energy today, the feedstock problem and
technologically limitations of crystalline cells. Owing to this the
market will be hindered for the forecasted period.
Globally, Photovoltaic Materials Market Analysis
was valued at USD 15 billion in 2016 and is likely to reach USD 25
billion in 2022, expanding at CAGR of 8% between 2016 and 2022.
Photovoltaic Materials Market- Competitive Landscape
The
global photovoltaic materials is a rapidly growing market, which
consists of significant number of mature players. The market is
primarily driven by the technological advancements on part of leading
players demand from waste and water management, and landfill
applications, along with substantial use in building & construction
industry, along with the rising technological advancements in the field
of Photovoltaic Materials. The market consists of considerable number of
tier 1 companies. Among them, DowDuPont, Wacker Chemie, 1366
Engineering Technologies, Mitsubishi Materials, Merck are leading
overall production of the photovoltaic materials. They have substantial
contribution to the growth of the market during the review period.
Almost all of these market participants are primarily adopting the
expansion of their production capacities tactics to strengthen their
market position and meet rising demand for the photovoltaic cells.
Growing construction industries, and continuous collaborations and
agreements between manufacturers, distributers, and marketing firms,
along with continuous R&D activities are protuberant market forces
operating in the market for the growth of the demand for Photovoltaic
Materials. Considering all these trends the global photovoltaic
materials market poised to witness considerable competition throughout
the forecast period of 2017-2022.
Industry/ Innovation/ Related News:
June 29, 2017– The silicon wafer manufacturer 1366 Engineering
Technologies has announced that the Japan based IHI Corporation has
completed the grid connection and begun commercial operation of a 500 kW
solar installation. This system is featuring 1366’s high performance
wafers through its wholly-owned subsidiary IHI Plant Construction Co.,
Ltd (IPC). According to their calculations, during its lifespan, the
array is expected to cut down approximately 9,500 metric tons of CO2
from entering the atmosphere.
May 2, 2017-
Mitsubishi Materials Corporation (MMC), a conglomerate having expanse
in over 29 countries has acquired Luvata Special Products to further
expand their global copper processing business. Luvata Special Products
has 12 sites in 7 countries across the Americas, Europe and Asia and it
is serving the automotive, energy, healthcare, and science and
manufacturing industries. Luvata Special Products includes 12 locations
in 7 countries across the Americas, Europe and Asia, supplying
solutions for the automotive, energy, healthcare, science and
manufacturing industries. This development is expected to propel the
global expansion of MMC's copper-processing business.
January 27, 2017-
The University Institute for Advanced Materials Research at the
Universitat Jaume I (UJI) has participated in the European Project
called Sunflower. This project intends to develop less toxic organic
photovoltaic materials viable for industrial production. A consortium of
17 research and business institutions carried out this nanotechnology
research over four years. The achievement of solar cells with a good
performance, low cost and very interesting architectural
characteristics. This is anticipated to promote further research in
photovoltaic cell with least carbon footprint whatsoever.
June 29, 2016-
Mitsubishi Materials Corp has started operation of solar power plants
with a total output of about 8.3MW in Fukushima Prefecture. The power
producer for the mega (large-scale) solar power plants, Yabuki Solar
Power Plant, is MM Sun Power, a 50-50 joint venture between Mitsubishi
Materials and Mitsubishi UFJ Lease & Finance Co Ltd.
The Yabuki Solar Power Plant consists of four solar power plants with
the total site area is 103,624 square meter, and the total output of
solar panels installed at the plants is 8.284MW. The plants transmit a
total of 6.544MW of electricity to the power grid.
April 18, 2016-
Wacker Chemie AG has officially opened its new polysilicon production
site in the US State of Tennessee. This new site is the largest single
investment ever by WACKER. The investment is marked around US$ 2.5
billion.
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