The global solar panel coatings industry generated $2.1 billion in 2020, and is anticipated to generate $15.7 billion by 2030, witnessing a CAGR of 22.4% from 2021 to 2030. Allied Market Research published a report, titled, "Solar Panel Coatings Market by Type (Anti-reflective, Hydrophobic, Self-cleaning, Anti-soiling, Anti-abrasion, and Others) and Application (Residential, Commercial, Energy, Agriculture, Automobiles, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030".
Prime determinants of growth
Surge in
applications & widespread usage of solar energy and government
support policies to promote solar energy drive the growth of the global
solar panel coatings market. However, high cost of solar panel coatings
hinders the market growth. On the other hand, increase in investment towards
solar energy research and development presents new opportunities in the coming
years.
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Leading Market Players:-
·
Arkema Group
·
Advanced Nanotech Lab
·
Diamon-Fusion International Inc.
·
Fenzi SpA
·
Koninklijke DSM N.V
·
Nanoman, Nanopool GmbH
·
PPG Industries Inc.
·
Unelko Corporation
Covid-19 Scenario
·
The outbreak of the Covid-19
pandemic has had a negative impact on the global solar panel coatings market.
·
The lockdown implementation led
to disruptions in the supply chain, due to which manufacturers faced improper
transportation of raw materials.
·
All the offices, hotels, etc.
were temporarily closed, which in turn, led to a decline in the usage of power.
This caused a decline the demand for the solar panel industry market.
The hydrophobic segment to maintain its
leadership status throughout the forecast period
Based on type,
the hydrophobic segment held the highest market share in 2020, accounting for
one-third of the global solar panel coatings market, and is estimated to
maintain its leadership status throughout the forecast period. However,
anti-soiling segment is projected to manifest the highest CAGR of 22.4% from
2021 to 2030.
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Detailed COVID-19 Impact Analysis on the Solar Panel Coatings Market @ https://www.alliedmarketresearch.com/request-for-customization/12261?reqfor=covid
The energy segment to maintain its lead position
during the forecast period
Based on end
use, the energy segment accounted for the largest share in 2020, contributing
to more than one-third of the global solar panel coatings market, and is
projected to maintain its lead position during the forecast period. The
ever-growing investment of the government towards solar power plants to curb
the demand for power has increased the demand for the solar panel coatings
market. Moreover, the commercial segment is expected to portray the largest CAGR
of 23.2% from 2021 to 2030.
Asia-Pacific, followed by North America to
maintain its dominance by 2030
Based on
region, Asia-Pacific, followed by North America held the highest
market share in terms of revenue 2020, accounting for nearly two-fifths of the global
solar panel coatings market. This is because this region is home to a
significant number of megacities and with an ever-increasing population.
However, the same region is expected to witness the fastest CAGR of
23.3% from 2021 to 2030.
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