Market News Today Solar Back Sheet Is Very Profitable, Boosted By St | Page 2

This, along with the research and development initiatives being undertaken by several research
institutes, has contributed to the growth in installed capacity. The global back sheet industry is
growing at a fast pace, supported by strong growth in the solar PV industry in several nations including
Germany, Italy, China and the U.S. The high growth of the market for PV back sheets can be attributed
to the growth of the Asia-Pacific market. The Euro zone crisis had a negative impact on the European
solar PV market, with solar back sheet revenues declined globally in 2012. However, the global market
has recovered from 2012 onwards, owing to the solar power growth plans of a number of Asia-Pacific
countries. With emerging markets such as India, China, the Republic of Korea, Canada, the Czech
Republic, Portugal, Greece and Bulgaria increasing their presence in the PV market and it is expected
that the market will recover to reach estimated revenues over the forecast period.
The key application segment for solar PV market was utility segment in 2014 followed by non-
residential and residential segments. Changing consumer preference for renewable energy electricity
generation on account of environmental protection is anticipated to augment growth of solar PV
market. Rising consumer awareness towards environmental protection is projected to result in the
improvement of reduced carbon emission and sustainable energy which is likely to augment solar PV
market growth. Moreover, increasing electricity generation efficiency of modules, technological
advancements and lesser installation cost on account of subsidies is expected to fuel market growth
over the forecast period. The non-residential sector is expected to witness a sluggish growth rate
owing to incentive reduction post 2016.
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Geographically, the solar back sheet industry is segmented into North America, Asia-Pacific, Latin
America, Middle East and Africa, and Europe. The U.S. Dominates the North American PV back sheets
Market. PV back sheet installed capacity in North America increased substantially over the recent past
owing to the increase usage of solar as a backup power. Financial incentives provided by utility, state
and federal programs are the major drivers for the PV back sheet market in North America.
The key players dominating the market for solar back sheet industry include KREMPEL, DUNMORE,
TOYO Aluminium, and Madico, while other significant players include Isovoltaic,Coveme and