According to the latest market research report title “Asia-Pacific Solar Photovoltaic Materials Market By Material (Silicon, Thin Film Photovoltaics, Concentrator Photovoltaics, Others), By Technology (Half-Cell (HC) Technology, Multi-Busbar (MBB) Technology, Bifacial Technology, Passivated Emitter and Rear Cell (PERC) technology, Others), By Power Output Range (Less than 300 Watts, 300-400 Watts, 401-500 Watts, Above 500 Watts), By Application (Residential, Commercial, Utility), By Country (China, India, Japan, South Korea, Australia, Southeast Asia, Rest of the Asia-Pacific) –Forecast to 2028″, published by MarkNtel Advisors, The Asia-Pacific Solar Photovoltaic Materials market is projected to grow at a CAGR of around 10.2% during the forecast period, i.e., 2023-28.
The data present in the report exhibit from the historic years (2018-21) and the base year (2022) to put together estimations for the forecast period (2023-28). In the study, our researchers put together reliable, unbiased, and accurate data to enlighten investors about fluctuations in the industry & anticipations on what to expect in the future. Since the industry is dynamic and highly fragmented, this report enables the prominent players to make strategic moves associated with their investments in the coming years.
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Asia-Pacific Solar Photovoltaic Materials Market Possible Restraint:
Variability in Solar Energy Production Due to Intermittency of Resources – In the Asia-Pacific region, the major factor affecting the growth of photovoltaic materials during the historical years is the unavailability of continuous solar energy sources in countries like Japan, South Korea, etc. As the functioning of photovoltaic materials is entirely dependent on the availability of solar power source, i.e., sunlight, extreme weather conditions such as clouds or storms has been affecting the process. The unavailability of proper sunlight affects the overall cost-effectiveness of solar power plants. Henceforth, countries with intermittent availability of sunlight have been observed to avoid the installation of solar energy power plants, which has been negatively affecting the Solar Photovoltaic Materials market during the past few years.
Further, the unavailability of sunlight at times like night, or other extreme weather conditions, including clouds or storms, can be addressed by installing energy storage systems, which would add up to the overall installation cost of the solar power generation systems. Subsequently, in areas like Japan, South Korea, or hilly regions of countries with higher precipitation, which have lower availability of solar energy, the market is anticipated to witness negligible growth in the forecasted years.
Asia-Pacific Solar Photovoltaic Materials Market Segmentation
The Asia-Pacific Solar Photovoltaic Materials Market is highly robust and fragmented into numerous segments;
By Material
-Silicon
–Polycrystalline Silicon
–Monocrystalline Silicon
-Thin Film Photovoltaics
–Cadmium Telluride (CdTe)
–Copper Indium Gallium Selenide (CIGS)
-Concentrator Photovoltaics
-Others (Organic Photovoltaics, Multijunction Photovoltaics, etc.)
By Technology
-Half-Cell (HC) Technology
-Multi-Busbar (MBB) Technology
-Bifacial Technology
-Passivated Emitter and Rear Cell (PERC) technology
-Others (Tiling Ribbon Technology, N-Type Technology, etc.)
By Power Output Range
-Less than 300 Watts
-300-400 Watts
-401-500 Watts
-Above 500 Watts
By Application
-Residential
-Commercial
-Utility
By Country
-China
-India
-Japan
-South Korea
-Australia
-Southeast Asia
-Rest of the Asia-Pacific
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Key Players Operating in the Asia-Pacific Solar Photovoltaic Materials Market: –
-Jinko Solar
-Trina Solar
-BASF SE
-DuPont
-Shin-Etsu Chemical Co. Ltd
-Ferrotech Corporation
-Wacker Chemie AG
-Okemetic
-GCL-Poly Energy Holdings Ltd.
-Motech Industries Inc.
-Lanco Solar
-Great Solar Materials
-Others
Key Questions Answered:
- What is the projected CAGR of the Asia-Pacific Solar Photovoltaic Materials Market during the forecast period?
- Which segment is expected to lead the Asia-Pacific Solar Photovoltaic Materials Market?
- Who are the prominent players driving market growth?
Key Offerings:
- Market Share, Size, and Revenue Forecast
- Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
- Landscape: Leading key players and other prominent participants
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