Solar Panel Coatings Market to Grow at a Formidable Rate until 2024
Rising demand for solar
panels led by increasing government support for generating renewable forms of
energy to drive global solar panel coatings market through 2024
According to
TechSci Research report, “Global Solar
Panel Coatings Market By Type, By End User Industry, By Region, By Company,
Competition, Forecast & Opportunities, 2024”, the global solar panel coatings market is expected to grow
at a CAGR of around 20% during the forecast period. Solar panel coatings are witnessing
adoption in various end user industries since they improve the life and
efficiency of solar panels, thereby resulting in higher energy production. However, manufacturers of solar panel
coatings face challenges such as high initial investment and low returns on
investment (RoI) on installation of solar panels which is likely to hamper the
growth of the market during forecast period.
Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on " Global Solar Panel
Coatings Market"
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The global
solar panel coatings market is segmented based on type, end user industry, region
and company. Based on type, the market can be segmented into
Anti-reflective, Hydrophobic, Self-cleansing, Anti-soiling, Anti-abrasion and
Others. The anti-reflective coatings market is anticipated to dominate the
market during the forecast period followed by hydrophobic coatings. This can be
accredited to their properties such as high absorption capacity, improved light
transitivity and reduced reflection. Based on end user industry, the market can
be fragmented into Residential,
Commercial, Energy, Agriculture, Automotive and Others. The residential sector
is projected to dominate the market during the forecast period on account of
rising demands for solar panels to generate electricity in the residential
sector.
NanoTech
Types Pty Limited, Koninklijke DSM N.V, PPG Industries Inc., Nano Shell
Limited, Unelko Corporation, Diamon-Fusion International Inc. (DFI), Optitune
Oy, Arkema Group Co., Ltd, Fenzi S.p.a.,3M Co and others are some of the
leading players operating in global solar panel coatings market. The companies
operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share.
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“Asia-Pacific is
expected to be the largest and fastest growing market in solar coatings market
during the forecast period. The growth of the region can be attributed to the increasing
investments in solar panel installations and growing government support and
incentives for generating renewable energy by using solar panels in the region. Additionally, the demand for rooftop solar
panels for generating power for residential and commercial purposes is
increasing in the region, thereby further fueling growth in the market.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Solar Panel Coatings Market By Type, By
End User Industry, By Region, By Company, Competition, Forecast &
Opportunities, 2024” has evaluated
the future growth potential of global solar panel coatings market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global solar panel coatings market.
About TechSci Research
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