Solar Panel Coating Market

Global Solar Panel Coating Market is valued at USD 2.93 Billion in 2022 and expected to reach USD 11.64 Billion by 2029 with a CAGR of 21.76% over the forecast period.

Global Solar Panel Coating Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Rising application & widespread usage of solar energy, increasing government support to promote solar energy drives, and growing adoption of renewable energy for power generation can drive the Growth of Global Solar Panel Coating Market.

Scope of Solar Panel Coating Market-

Solar panels are a photovoltaic cell that changes over the sun's energy into electricity. Sun's energy contains photons. The working of the photovoltaic cell is to absorb the photon and afterward drive it toward a path inverse to the internal electron movement. This produces electricity and it is moved to the external apparatuses associated. There are coatings applied on top of it for giving a layer of protection against dust, dirt, and other environmental variables like rain, storms extreme breeze, and so on. They are stored on top of the panel during the time of its production. This builds their effectiveness and consequently produces more power flawlessly. Solar panel coatings increment the effectiveness and assurance level of solar panels, bringing about higher energy generation through solar panels.

The Covid-19 pandemic had a negative impact on the global solar panel coating market. The decrease in demand for some unnecessary items and shut down of automotive, electrical, and other solar panel related ventures adversely affects the improvement of solar panel coatings market. The lockdown condition prompted disturbances in the supply chain, because of which manufacturers faced improper transportation of raw components. All the workplaces, hotels, etc were briefly shut, which thus, prompted a decrease in the utilization of power. This caused reduce the demand for the solar panel industry market.

The global solar panel coating market is segmented on the basis of type, end-user, and region & country level. Based on the type, the global solar panel coating market is classified into hydrophobic, anti-reflective, anti-abrasion, anti-soiling, self-cleansing and others.  Based on the end-user, the market is classified into commercial, residential, agriculture, energy and automotive.

The regions covered in global solar panel coating market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global solar panel coating is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Key Players for Solar Panel Coating Market-

Some major key players in the global solar panel coating market report cover prominent players like-

• NanoTech Products Pty Limited
• Arkema Group
• Koninklijke DSM N.V.
• PPG Industries Inc.
• NanoTech Products Pty Limited
• Fenzi SpA
• 3M
• nanoShell Limited
• others

Solar Panel Coating Market Segmentation-

By Type:

• Hydrophobic
• Anti-reflective
• Anti-Abrasion
• Anti-Soiling
• Self-Cleansing
• Others

By End-User:

• Commercial
• Residential
• Agriculture
• Energy
• Automotive

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Rising Application & Widespread Usage of Solar Energy, Increasing Government Support to Promote Solar Energy Drives, and Growing Adoption of Renewable Energy for Power Generation to Drive the Market Growth

One of the major factors driving the growth of the global solar panel coating market is the rising application & widespread usage of solar energy. Increasing demand of solar panel coatings from the residential area and developing solar panel establishments across different nations. The utilization of solar panel coatings is likewise utilized in the energy business. Solar cells are made out of semiconductor materials, for example, silicon and cadmium telluride, which absorb sunlight and convert it into power through a cycle called the photovoltaic impact. When presented to ultraviolet light (UV) or dampness, the performance of these solar panels gradually deteriorates due to their surfaces get dirty with dust particles that block sunlight from contacting them.

This solar panel coating is used to provide protection against dust and rain which increases the demand in various applications. For example; as per The U.S. Department of Energy solar panels, reflecting less sunlight implies a three to six percent expansion in light-to- electricity change productivity and power result of the solar cells.

In addition, increasing government support to promote solar energy is also supplementing the market growth. To promote the use of solar energy, governments around the world have been implementing policies and initiatives aimed at increasing the adoption of solar energy technologies. In this context, increasing government support to promote solar energy has become a crucial aspect of sustainable development.

Hence, increasing government support to promote solar energy drives providing development to the global solar panel coating market over the forecast period. For example; according to the India Brand Equity Foundation (IBEF), the government designated Rs. 19,500 crore (US$ 2.57 billion) for a PLI plan to support manufacturing of high-proficiency sun solar modules.

Furthermore, the growing adoption of renewable energy for power generation also drives the global solar panel coating market. Worldwide mass mission from world bodies has raised the awareness level of a great many people. Therefore, individuals additionally began moving towards renewable energy sources. One reason is they are cheap and reliable. Therefore, growing adoption of renewable energy for power generation drives the global solar panel coating market.

For instance; according to the International Energy Agency (IEA), in 2020, yearly renewable capacity expanded 45% to just about 280 GW. Exceptionally high limit augmentations become the "new ordinary" in 2021 and 2022, with renewable representing 90% of new power capacity development universally.

However, high production cost of coating materials may hamper the global solar panel coating market growth. In spite of that, rising investments towards research & development in solar panel activities can provide various opportunities for the further growth of the global solar panel coating market over the forecast period.

Asia Pacific is Expected to Witness a Significant Growth in the Global Solar Panel Coating Market

Asia Pacific is expected to witness a significant growth in the global solar panel coating market due to the growing focus on growing demand for renewable energy sources, and increasing industrialization in the region. Solar power in India is a quick growing industry as a piece of the renewable energy in India. For example; according to the India Brand Equity Foundation (IBEF), Solar power installed limit has expanded by in excess of multiple times, from 2.63 GW in March 2014 to 49.3 GW toward the finish of 2021. In 2021, India has added 7.4GW of solar power limit, up 335% from 1.73 GW in the earlier year. Off- grid solar power is developing at a high speed in India, with deals of 392,000 off- grid solar items in 2021.

In addition, China is projected to be the main country-level market in the region attributable to the flooding demand for solar panel coatings in photovoltaics’. For example; the China Public Energy Organization (NEA) drafted a strategy to consistently build the sum the power bought from clean generation resources from 28.2% in 2020 to 40% by 2030 through grid organizations. The public approaches to Make China "Carbon Neutral " by 2060 have helped the portion of non- fossil fuels in essential energy utilization to around 25% by 2030 will drive the interest for fuels which

The North America is anticipated to grow faster in the global solar panel coating market within the forecast period due to increasing solar panel installation and rising advancement in technology coupled with presence of key players. For example; as per the Solar Energy Industries Association (SEIA), the US installed 1.7 gigawatt (GW) of solar PV capability in 2018 to provide power to 11.3 million U.S. homes.

News-

New Coating Helps Solar Panels Shed Snow and Ice

On July 19^th, 2022; A Sandia National Labs-led research group developed a transparent, polymeric-based coating that helps photovoltaic panels consistently shed snow and ice. Early field preliminaries in Alaska showed the way that coated panels can deliver 85% more energy, contrasted with uncoated panels. Fundamental information additionally shows that the coating keeps up with its ice-and snow-shedding performance for quite a long time.

French Consortium Developed Self-Cleaning Solar Module Coating

On March 31^th, 2022; French chemical organization Axcentive and solar module producer Photowatt developed a PV panel coating in light of photoactive nanotechnology. The coating depends on a super-hydrophilic surface that makes the water spread out on the module surface right away, consequently avoiding light dissipate impacts upon rain. Moreover, this surface is said to expand self–cleaning impact by allowing water to flow under the soil and eliminate it by gravitational forces.

Solar Module Anti-Soiling Coating for Retrofit Application

On February 28^th, 2022; Netherlands-based Rads Global Business BV developed an anti-soiling and anti-reflective nanocoating for solar glass expected for application in existing PV frameworks. Called HP+, the coating is professed to increment power yield by somewhere in the range of 4 and 7% contrasted with non- coated modules, over a time of up to five years. The coating is presently being delivered at various offices in Belgium, Germany, and the Netherlands. The coating system includes four nanomaterials. Three mixtures called Vetra clean, NanoClean, and Vtranova are utilized for preparing the glass surface for the deposition of a fourth material, which is called HydroPlus and makes a 120nm thick coating layer on the glass surface. This last component assumes a key part in giving the panel anti-soiling, self-cleaning, anti-abrasion, and anti-reflection properties.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2022:	USD 2.93 Billion
Base year considered	2021
Forecast Period CAGR %:	21.76%
Market Size Expected in 2029:	USD 11.64 Billion
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	NanoTech Products Pty Limited, Arkema Group, Koninklijke DSM N.V, PPG Industries Inc., NanoTech Products Pty Limited, Fenzi SpA, 3M, nanoShell Limited, and others
Segments Covered	By Type, By End-User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa