The solar photovoltaic glass market is projected to grow from USD 7.8 billion in 2023 to USD 27.3 billion by 2028, at a CAGR of 28.4% from 2023 to 2028. The research report covers key players in the industry, CAGR values, solar photovoltaic glass market demand, size, share, momentum, constraints, and competitive strategies around the world from the region. The main reason for such growth is that global efforts to transition towards cleaner and more sustainable energy sources have led to a rising demand for solar energy. Solar PV glass is crucial in harnessing sunlight to generate electricity, making it an integral part of the renewable energy landscape.
AR coated is estimated to hold the most significant share of the global solar photovoltaic glass market by type.
By type, AR coated is estimated to dominate the solar photovoltaic glass market globally. AR coatings are particularly beneficial in environments with varying light conditions. They help solar panels capture sunlight more effectively during periods of low-angle sunlight or diffuse light, such as early mornings, late afternoons, or cloudy days. By minimizing reflection losses, AR-coated glass contributes to consistent energy harvesting across different weather conditions, optimizing overall performance. This factor led to the growth of the AR-coated segment.
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By application, The utility segment will lead the solar photovoltaic glass market during the forecast period.
In terms of application, the utility segment is anticipated to hold the leading position in the solar photovoltaic glass industry. The utility sector’s transition towards renewable energy aligns with global sustainability goals and government initiatives promoting clean energy. Many countries are setting ambitious targets for renewable energy capacity, and utilities are crucial in achieving these goals. As a result, the utility segment’s commitment to large-scale solar projects is a significant factor propelling the growth of the solar PV glass market. The continued expansion of utility-scale solar installations meets rising energy demands and contributes significantly to reducing greenhouse gas emissions and mitigating climate change.
By installation, The patterned glass segment will lead the solar photovoltaic glass market during the forecast period.
Regarding installation, the patterned glass segment is anticipated to lead in the solar photovoltaic industry. One of the key drivers of the pattern glass segment’s growth is its role in building integrated photovoltaics (BIPV). With its ability to diffuse light, textured glass is well-suited for BIPV applications, where solar modules are integrated into architectural elements such as facades and windows. The use of pattern glass not only generates clean energy but also provides an aesthetically pleasing and functional building material.
By end-user, The crystalline silicon PV module segment will lead the solar photovoltaic glass market during the forecast period.
In terms of end-users, the crystalline silicon segment is anticipated to hold the leading position in the solar photovoltaic glass industry. The widespread use of crystalline silicon PV modules across diverse solar applications contributes substantially to the growing demand for solar PV glass. As the solar industry continues to expand and evolve, developing advanced glass technologies and coatings becomes essential to optimize the performance and efficiency of crystalline silicon PV modules, driving the overall growth of the solar PV glass market.
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During the forecast period, Asia Pacific will lead the global solar photovoltaic glass market.
In 2022, the Asia Pacific region held the dominant share in the global solar photovoltaic glass industry. Forecasts suggest this region will experience a significant Compound Annual Growth Rate (CAGR) between 2023 and 2028. One crucial factor is the rapid economic growth and urbanization in countries like China, India, and Southeast Asian nations, resulting in a surging demand for electricity. As these economies seek sustainable and clean energy solutions, solar power, supported by high-quality PV glass, has become crucial in meeting their increasing energy needs.
Solar Photovoltaic Glass Companies
Companies such as Xinyi Solar Holdings Ltd. (China), IRICO Group New Energy Co., Ltd. (China), Flat Glass Group Co., Ltd (China), Qingdao Jinxin Glass Co., Ltd. (China), Dongguan CSG Solar Glass Co., Ltd. (China), and others are key players in the global solar photovoltaic glass market. These players have focused on developmental strategies, such as expansions, mergers and acquisitions, partnerships, and new product launches and developments. These have helped them expand their businesses in untapped and potential sectors to enhance their current solar photovoltaic glass market positions.
Xinyi Solar Holdings Ltd. is a prominent player in the solar industry, specializing in the manufacturing and distributing solar glass, a critical component in solar photovoltaic (PV) modules. The company is recognized for its global presence and vertical integration, leveraging expertise in glass manufacturing to ensure a stable supply chain. Committed to technological innovation, Xinyi Solar contributes to advancing solar technology, providing high-quality and innovative solutions for solar energy generation globally.
IRICO Group is a Chinese company specializing in research, development, production, and sales of new energy photovoltaic glass. The company is a major solar glass manufacturer, including ultra-clear patterned and AR-coated glass. IRICO Group’s primary customers include well-known domestic and international solar companies. The company is also expanding its production capacity by building a new ultra-thin, flexible photovoltaic glass factory in China.
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Qingdao Jinxin Glass Co., Ltd. is a Chinese company specializing in producing solar glass products, including low-iron solar float glass, high-transmission ARC solar glass, and all-thickness solar glass. The company is located in Qingdao, Shandong, China, and is known for its focus on scientific and technological innovation and customer service.
Flat Glass Group Co., Ltd. is a prominent Chinese company manufacturing and distributing flat glass products. The company is a leading player in the glass industry, producing various glass products for multiple applications, including construction, automotive, and solar energy. Flat Glass Group is known for its comprehensive product portfolio, including float, automotive, and solar glass. With a commitment to technological innovation and sustainable practices, the company plays a significant role in meeting the global demand for high-quality glass across diverse industries.
Dongguan CSG Solar Glass Co., Ltd is a Chinese company that produces solar glass products, including tempered low iron solar glass, anti-reflective coating glass, and patterned glass for PV panels. The company is a subsidiary of CSG Holding. It has a daily melting capacity of 500 tons and an annual deep processing capacity of 12,000,000 SQM, which could provide glass for manufacturing 160MW solar modules per month. Dongguan CSG Solar Glass Co., Ltd has an integrated R&D system and a solar glass R&D center, which leads the company in the solar glass field worldwide.
