New York, 17,
Oct 2019: According to a new report published by Polaris Market Research
the worldwide Photovoltaic
Materials Market is anticipated to reach around USD 44,073
million by 2026. In 2017, the Polycrystalline Silicon segment dominated the
global market, in terms of revenue. In 2017, Asia-Pacific accounted for the
majority share in the global Photovoltaic Materials market.
The increase in the adoption of renewable
energy sources drives the growth of this market. Growing concerns regarding
environmental pollution caused by fossil fuels and their limited availability
support the market growth. There has been an increasing demand of solar
technology owing to low operating costs and less maintenance. Governments are
increasingly investing in the development of solar technology to accelerate the
adoption of renewable sources, thereby supporting market growth. However, high
installation costs of solar systems limit the growth of the market. New
emerging markets, and declining costs of photovoltaic materials would provide
growth opportunities in the coming years.
Request for
sample of this research report @ https://www.polarismarketresearch.com/industry-analysis/photovoltaic-materials-market/request-for-sample
Asia-pacific dominated the global
Photovoltaic Materials Market during the forecast period. A significant rise in
the initiatives taken by governments of China, India, and Japan to promote the
use of solar technology to reduce carbon footprint supports the growth of the
market in the region. Incentives provided by the governments to the commercial
sector industries using solar technology has resulted in high demand of
photovoltaic materials in the region. China leads the Asia-Pacific Photovoltaic
Materials market during the forecast period. Regions such as North America and
Europe export solar cells from Asia-Pacific, thereby supporting market growth
in the region. Increasing awareness regarding use of renewable sources and
green technologies augments the market growth in the region. Leading global
players are expanding their presence in developing nations of India, Indonesia,
and Malaysia to tap the growth opportunities offered by these countries.
The
various types of photovoltaic materials include Monocrystalline Silicon,
Polycrystalline Silicon, Cadmium Telluride, and Copper Indium Gallium Selenide
among. The Polycrystalline Silicon segment is expected to lead the market
during the forecast period owing to affordable manufacturing process and use in
varied applications. The Copper Indium Gallium Selenide segment is expected to
grow at the highest CAGR during the forecast period.
Enquire
before buying @ https://www.polarismarketresearch.com/industry-analysis/photovoltaic-materials-market/inquire-before-buying
The well-known companies
profiled in the report include DuPont, Targray Technology International,
Inc, Shin-Etsu Chemicals Co., Ltd., Mitsubishi Material Corporation, Hemlock Semiconductor
Corporation LLC, Atecom Technology Co., Ltd., American Elements, Ferrotec
Corporation, Topray Solar, Hangzhou First Applied Material Co. Ltd., 1366
Technologies Inc., NovoPolymers NV among others. These companies launch new
products and collaborate with other market leaders to innovate and launch new
products to meet the increasing needs and requirements of consumers.