Global Solar PV Glass Market Insights Forecasts to 2032

• The Solar PV Glass Market Size was valued at USD 6.51 billion in 2022.
• The market is growing at a CAGR of 29.7% from 2023 to 2032
• The global solar PV glass market is expected to reach USD 87.76 billion by 2032
• Asia-Pacific is expected to grow the fastest during the forecast period

The Global Solar PV Glass Market Size is expected to reach USD 87.76 billion by 2032, at a CAGR of 29.7% during the forecast period 2023 to 2032.

Market Overview

Solar PV glass, also known as photovoltaic glass, is a specialized type of glass that is used in solar panels to capture sunlight and convert it into electricity through the photovoltaic process. It is a critical component of solar panels, playing a crucial role in the overall efficiency and performance of the solar module. Solar PV glass is typically made of tempered or laminated glass that is highly transparent to sunlight, allowing maximum sunlight to penetrate the glass and reach the solar cells inside the solar panel. It is designed to be durable, weather-resistant, and capable of withstanding harsh environmental conditions, such as high temperatures, UV radiation, and mechanical stress. Solar PV glass is used in various types of solar panels, including monocrystalline, polycrystalline, and thin-film solar panels.

Report Coverage

This research report categorizes the market for Solar PV glass market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the solar PV glass market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the solar PV glass market.

Driving Factors

The solar PV glass market is experiencing significant growth due to a combination of factors. Firstly, there is an increasing demand for renewable energy and a growing adoption of solar power as a clean and sustainable energy source, which is driving the demand for solar PV glass. Additionally, advancements in solar panel technology, such as improved efficiency and reduced costs, have made solar PV installations more attractive to consumers and businesses, further boosting the demand for PV glass. Favorable government policies and incentives, such as feed-in tariffs, tax credits, and net metering, implemented in many countries to promote renewable energy, are also playing a key role in driving the demand for solar PV glass. Furthermore, the development of bifacial solar panels that can generate electricity from both sides is creating a demand for specialized PV glass with enhanced properties.

Restraining Factors

There are several restraints that can impact the solar PV glass market. One of the main challenges is the high production cost of specialized PV glass, which can affect the overall cost-effectiveness of solar panels. Additionally, the availability and fluctuating prices of raw materials used in PV glass production, such as silicon, aluminum, and silver, can impact the cost and supply chain of PV glass. The complex and stringent regulatory requirements and standards for PV glass, including safety, quality, and performance standards, can also pose challenges for manufacturers.

Market Segmentation

• In 2022, the anti-reflective coat segment accounted for around 48.1% market share

On the basis of type, the global solar PV glass market is segmented into anti-reflective coated, solar PV glass, tempered solar PV glass, TCO coated solar PV glass, and others. Out of this, the anti-reflective coat segment is dominating the market with the largest market share in 2022, due to their higher efficiency, the demand for AR-coated glasses is expected to remain dominant during the forecast period, as they enable a larger amount of sunlight to reach the solar cell, thereby maximizing energy generation from the solar panels.

• In 2022, the utility segment dominated with more than 51.3% market share

Based on the application, the global solar PV glass market is segmented into residential, non-residential, and utilities. Out of this, the utility segment is dominating the market with the largest market share in 2022, due to government initiatives to establish large-scale solar farms, aimed at increasing the proportion of renewable energy and reducing carbon emissions.

• In 2022, the crystalline silicon PV module segment dominated the market with around 75.6% revenue share

Based on the module, the global solar PV glass market is segmented into crystalline silicon PV modules, thin film PV modules, and perovskite modules. Out of this, the crystalline silicon PV modules segment is dominating the market with the largest market share in 2022, due to the highly organized structure of the silicon lattice enables more efficient conversion of light into energy.

Regional Segment Analysis of the Solar PV Glass Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific dominated the market with more than 48.3% revenue share in 2022.

The Asia-Pacific region has emerged as a dominant player in the solar PV glass market due to the increasing demand for renewable energy, rapid industrialization, and urbanization in countries like China, India, and Japan. Moreover, favorable government policies and incentives, such as feed-in tariffs, tax credits, and renewable energy targets, have encouraged the adoption of solar power in the region.

Recent Developments

In August 2022, Nippon Sheet Glass Co., Ltd. announced its plans to invest in a new production facility in Malaysia to expand its capacity for manufacturing TCO-coated solar PV glass. This strategic move is aimed at enhancing the company's production capabilities and increasing its output of TCO-coated PV glass at the new facility in Malaysia.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global solar PV glass market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Companies:

• Saint-Gobain Solar
• Xinyi Solar Holdings Ltd.
• AGC Inc.
• Nippon Sheet Glass Co., Ltd.
• Flat Glass Group Co., Ltd.
• Guardian Glass LLC
• Borosil Renewables Limited
• Henan Huamei Cinda Industrial Co., Ltd.
• Guangdong Golden Glass Technologies Limited
• Taiwan Glass Ind. Corp.
• Sisecam Flat Glass
• Euroglas GmbH
• Interfloat Corporation
• Phoenicia Flat Glass Industries Ltd.
• Emmvee Toughened Glass Private Limited

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global solar PV glass market based on the below-mentioned segments:

Solar PV Glass Market, By Type

• Anti-Reflective (AR) Coated
• Solar PV Glass
• Tempered Solar PV Glass
• TCO Coated Solar PV Glass
• Others

Solar PV Glass Market, By Application

• Residential
• Non-Residential
• Utilities

Solar PV Glass Market, By Installation

• Float Glass Technology
• Patterned Glass Technology

Solar PV Glass Market, By Module

• Crystalline Silicon PV Modules
• Thin Film PV Modules
• Perovskite Modules

Solar PV Glass Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa