The global market value of solar photovoltaic glass in 2027 will be about 21.1 billion US dollars

According to the latest market report, the market size of solar photovoltaic glass is expected to grow from 6.2 billion dollars in 2022 to 21.1 billion dollars in 2027, with a compound annual growth rate of 27.9%. The main factors driving the development of the solar photovoltaic glass industry include the increasing demand for renewable energy and the government's favorable support for the establishment of solar power farms.

The solar photovoltaic glass industry is divided into AR coated solar photovoltaic glass, toughened solar photovoltaic glass, TCO coated solar photovoltaic glass, etc. by type. AR coated glass will dominate the market in 2021. The advantages in this field are attributed to the high efficiency of these glasses in solar energy conversion. In addition, they can be easily placed in sensitive environments, such as airports. On the other hand, TCO coated solar photovoltaic glass has better energy transmission, which is expected to make it grow at the highest CAGR during the forecast period.

The utility sector will grow at the fastest rate during the forecast period

The application fields of solar photovoltaic glass industry are divided into residential, non residential and public utilities. It is expected that the public utilities will grow at the fastest compound annual growth rate during the forecast period, which is attributed to the favorable support of governments around the world for the establishment of solar farms. Governments are providing subsidies and tax rebates to companies that build solar power plants and connect energy to the grid.

In the forecast period, the Asia Pacific region will become a leading solar photovoltaic glass market. Its dominant position can be attributed to the concentration of solar PV module manufacturers in the region, especially in China. According to the International Energy Agency, the Asia Pacific region has 90% of the manufacturing capacity of solar modules, and China alone has 74% of the global manufacturing capacity. These glasses are mainly used for solar modules, so the glass demand in this region is the highest. Strong industrial base, favorable government solar power generation policies and low labor costs are the factors that make the solar photovoltaic glass industry strong and attract major participants to invest in the region.