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Solar Panel Coatings Industry Growth
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
OREGON, PORTLAND, UNITED STATES, September 11, 2022 /EINPresswire.com/ — 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.
Get 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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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Analytics LLP
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