Solar Panel Coatings Market is driven by surge in applications & widespread usage of solar energy and government support policies to promote solar energy. 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.
According to the report, 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. The study presents impending revenue forecast of the industry for the next few years coupled with imminent market trends and opportunities. Moreover, the study also doles out different logical tables and graphs to identify the complexities of the market.
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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.
By End Use
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.
Region wise, the solar panel coatings market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
Leading Market Players:
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Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the solar panel coatings market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the solar panel coatings market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
Key offerings of the report:
- Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
- Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
- Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
- Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
- Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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