Market Reports

$21.1 billion will be spent on solar photovoltaic glass by 2027.

Published: March 13, 2023

The report Solar Photovoltaic Glass Market by Type (AR-Coated, Tempered, TCO-Coated), Application, End User (Crystalline Silicon PV Module, Thin Film Module, Perovskite Module), Installation Technology & Region – Global Forecast to 2027″, Solar photovoltaic glass market size is projected to reach USD 21.1 billion by 2027 from USD 6.2 billion in 2022 growing at a CAGR of 27.9%. The rising demand for clean and renewable energy is the key driving factor behind the growth of solar photovoltaic (PV) modules and in turn solar PV glass.

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•  330 Market data Tables
•  47 Figures
•  237 Pages and in-depth TOC on Solar Photovoltaic Glass Market – Global Forecast to 2027″

Some of the prominent key players are:

  • Xinyi Solar Holdings Ltd. (China)
  • IRICO Group New Energy Co., Ltd. (China)
  • Flat Glass Group Co., Ltd (China)
  • Qingdao Jinxin Glass Co., Ltd. (China)
  • Dongguan CSG Solar Glass Co., Ltd. (China)
  • AGC Solar (Japan)

Opportunity: Decreasing costs of solar systems and energy storage devices

The prices of solar systems and photovoltaic products, such as modules, glass, and mirrors have been continuously decreasing over the past few years. The installation costs of these systems are undoubtedly higher than the conventional alternatives. However, once installed, these systems require very less maintenance and incur low operational costs. A large number of players are present in the PV market. These players are constantly launching innovative and efficient products at competitive prices. This has resulted in a decline in the prices of photovoltaic products. Other factors that are leading to the drop in the prices of photovoltaic/solar systems include decreasing prices of raw materials, government subsidies, and large-scale production of photovoltaic/solar systems.

AR-coated solar PV glass to hold the largest share in the global solar PV glass market through the forecast period

The solar PV glass industry has been segmented based on type into AR-coated solar PV glass, tempered solar PV glass, TCO-coated solar PV glass, and others. The AR-coated segment accounted for the dominant share of the market in 2021. The dominance of this segment is attributed to the high efficiency of these glasses in conversion of solar energy. Also, they can be easily placed in sensitive surroundings such as airports. On the other hand, TCO-coated solar PV glass have better transmission of energy, which is expected to lead this segment to grow with the highest CAGR during the forecast period.

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Asia Pacific is expected to have the largest market size in the global solar PV glass industry during the forecast period

Asia Pacific is projected to be the leading solar PV glass market during the forecast period. The dominance of the regional market can be attributed to the concentration of solar PV module manufacturers in the region, especially in China. According to International Energy Agency, Asia Pacific hold 90% share in the manufacture of solar modules, with China alone accounting for 74% of the global manufacturing capacity. These glasses are primarily used in solar modules, thus leading the glass demand in the region to be the highest. The presence of a robust industrial base, favorable government policies for solar energy generation, and low labor costs are factors strengthening the solar PV glass industry and attracting major players to invest in the region.

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