Encapsulant Material for PV Module Market Enabling Next-Gen Solar Modules: Market to Hit $11.2B by 2035 at 9.2% CAGR

Encapsulant material for PV module market gains momentum as solar becomes cheapest power source globally.

CA, UNITED STATES, August 26, 2025 /EINPresswire.com/ -- Encapsulant material for PV module market is growing at a CAGR of 8% during the forecast period (2025–2035). Encapsulant materials of photovoltaic modules are key elements that determine the efficiency, lifespan, and reliability of solar systems. As the momentum towards renewable energy increases globally, the demand for high-quality encapsulants is on the rise, driven by technological developments and the need for improved module performance. The market is characterized by increasing investments in solar infrastructure, stringent regulatory standards, and innovations in material formulations.

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Market Dynamics

Growing Expansion in Emerging Markets

Emerging markets are increasingly playing a critical role in the Encapsulant Material for PV Module market. Several regions such as Asia-Pacific, Latin America, and the Middle East & Africa, are seeing substantial growth in solar energy investments due to increasing energy demands and favorable government initiatives. For instance, according to India Brand Equity Foundation, India has an ambitious goal of 280 GW of solar capacity by 2030, which is fueling strong demand for encapsulant materials in the country. As these regions increase their solar energy infrastructure, the demand for high-quality encapsulant materials is growing. Emerging market growth is generating fresh opportunities for manufacturers to invest in these markets and serve the changing needs of local solar power projects.

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Market Players Outlook

The major companies operating in the global encapsulant material for PV module market include 3M Company, DuPont de Nemours, Inc., Hangzhou First Applied Material Co., Ltd., Mitsui Chemicals, Inc., and STR Holdings, Inc., among others. Market players are leveraging partnerships, collaborations, mergers, and acquisitions to expand their businesses and develop innovative products, thereby maintaining their market positioning.

Recent Developments

• In May 2025, Jindal Poly Films finalized the acquisition of Enerlite Solar Films, while bringing its solar encapsulation film business in-house marking a significant strategic shift to manage material supply and develop proprietary backing sheet capabilities in India's fast-growing solar PV landscape.
• In November 2024, Cybrid launched RayBo, a revolutionary encapsulant for TOPCon solar modules, to guard against UV-induced degradation (UVID) and improve performance. RayBo transforms destructive UV radiation into beneficial blue light, boosting energy output. Tested by TUV Nord and Shanghai Jiao Tong University, RayBo provides long-term module reliability, prolongs lifespan, lowers LCOE, and enhances energy yield, making it a prime solution for TOPCon technology.
• In February 2024, Celanese Corp., a global specialty materials and chemical company, introduced the iDose TR by Glaukos Corp., which employs Celanese's VitalDose EVA to provide continuous drug delivery for the management of glaucoma.

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Some of the Key Companies in the Encapsulant Material for PV Module Market include-
• 3M Company
• Abengoa, S.A.
• Betterial Film Technologies
• Braskem SA
• Brentwood Private Equity LLC.
• Celanese Corp.
• Dow Chemical Company
• DuPont de Nemours, Inc.
• Expafol SLU
• Exxon Mobil
• Hangzhou First Applied Material Co., Ltd.
• LyondellBasell Industries N.V.
• Mitsui Chemicals Inc.
• STR Holdings, Inc.
• Sumitomo Chemical Co. Ltd.
• Topray Solar

Encapsulant Material for PV Module Market Segmentation Analysis

Global Encapsulant Material for PV Module Market by Material Type
• Ethylene Vinyl Acetate (EVA)
• Polyvinyl Butyral (PVB)
• Polyolefins (PO)
• Silicones
• Ethylene Ionomers
• Others (Ionomer, Thermoplastic Polyurethane (TPU), Polydimethylsiloxane (PDMS))

Global Encapsulant Material for PV Module Market by End-use
• Commercial
• Industrial
• Residential

Global Encapsulant Material for PV Module Market by Application
• Monoficial PV Module
• Bifacial PV Module

Regional Analysis
• North America
o United States
o Canada
• Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o ASEAN Economies (Singapore, Thailand, Vietnam, Indonesia, and Other)
o Australia and New Zealand
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East and Africa

Anurag Tiwari
Orion Market Research Pvt Ltd
+91 91798 28694
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