Top Solar Encapsulation Companies

The global solar encapsulation market is expected to have a CAGR of 8.7% from 2025 to 2032, growing from USD 3.4 billion in 2023 to USD 7.2 billion by 2032.

The primary applications for solar encapsulation are ground-mounted systems, building-integrated photovoltaics (BIPV), floating photovoltaic systems, and a few others. The construction industry and the automotive market are both impulse factors for growth for these applications.

The solar encapsulation market consists of Crystalline Silicon Solar (single and polycrystalline) and Thin-Film Solar (e.g., cadmium telluride, amorphous silicon).

The underlying drivers include a broader acceptance and need for renewable energy and resources, as well as more sustainable and environmentally friendly solutions. Risks and challenges include adverse weather impacts on solar devices or systems installed in extreme conditions, disruption to supply chain issues, logistical challenges, and fluctuations in raw material pricing.

Ethylene Vinyl Acetate (EVA) is expected to dominate the market at the material level because it has characteristics such as opacity and transparence, adhesion, and good thermal stability properties.

Polydimethylsiloxane (PDMS) is the fastest growing material due to its compareable or superior durability or longevity, elasticity, weather resistance, and electrical insulation properties.

The automotive market is projected to be fastest growing space for application, likely driven by the increasing integration of solar panels to electric vehicle designs as a source of supplemental energy and reduce their dependance on conventional vehicle charging structures.

Recent developments in the market include Verde Technologies’ partnership with NIU and NREL to develop perovskite solar cells; Alishan’s development of BackPro sheets; and First Solar’s acquisition of Evolar AB to develop tandem PV technology capabilities.

The introduction of bifacial solar modules has increased the demand for encapsulants that allow for light transmission and adhesion on both sides of the cell for protection. This demand has lead to increased innovation in the encapsulation material development.

Solar Encapsulation Market size was valued at USD 3.7 Billion in 2024 and is poised to grow from USD 4.02 Billion in 2025 to USD 7.84 Billion by 2033, growing at a CAGR of 8.7% during the forecast period (2026–2033).

The global solar encapsulation market is highly competitive, with numerous players operating in the industry. The market is characterized by a mix of established companies, emerging players, and regional manufacturers. These companies focus on developing and offering a wide range of solar encapsulation materials and solutions to cater to the diverse needs of solar panel manufacturers and end-users. Competition in the market is primarily driven by factors such as product innovation, performance, reliability, pricing, and customer service. 'Canadian Solar (Canada)', 'Trina Solar (China) ', 'JinkoSolar (China) ', 'JA Solar (China) ', 'LONGi Green Energy Technology (China) ', 'Hanwha Q CELLS (South Korea) ', 'SunPower Corporation (United States) ', 'Enphase Energy (United States) ', 'Sungrow Power Supply Co., Ltd. (China) ', 'Xinyi Solar Holdings Limited (China) ', 'GCL-Poly Energy Holdings Limited (China) ', 'Risen Energy Co., Ltd. (China) ', 'Seraphim Solar System Co., Ltd. (China) ', 'Talesun Solar (China) ', 'Meyer Burger Technology AG (Switzerland) ', 'REC Silicon ASA (Norway) ', 'Wacker Chemie AG (Germany) ', 'Daqo New Energy Corp. (China) ', 'OCI Company Ltd. (South Korea)'

The global demand for environmentally sustainable solutions and the imperative to reduce carbon emissions has increased significantly. This has led to a notable shift towards renewable energy sources due to growing environmental concerns and the depletion of conventional energy sources. Consequently, the solar encapsulation market is experiencing a surge in demand as it plays a vital role in facilitating the adoption of solar energy during the projected period. Additionally, the process of urbanization has contributed to the increased need for solar panels, consequently driving the demand for solar encapsulation. This factor is anticipated to be a major driver in the market. Furthermore, the global solar encapsulation market is expected to witness substantial growth due to the rising awareness of the benefits of renewable energy and the desirable properties offered by solar encapsulation, such as excellent insulation, mechanical durability, and superior light transmission, throughout the forecast period.

Transition to Non-EVA Encapsulation Materials: Ethylene vinyl acetate (EVA) has been traditionally used as the primary encapsulant material in solar modules. However, there is a growing shift towards non-EVA encapsulation materials, such as polyolefin-based films, polyvinyl butyral (PVB), and thermoplastic polyurethane (TPU). These alternative materials offer improved long-term performance, higher adhesion, and enhanced resistance to potential-induced degradation (PID).

Asia-Pacific is expected to maintain its dominant position in the solar encapsulation market in terms of both market share and revenue. This region's continued growth can be attributed to the expanding applications of solar energy in power generation, construction, and agriculture. The increasing adoption of solar energy within the Asia-Pacific region contributes significantly to the market's overall progress.