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Solar Panel Coatings Industry Development

The solar panel coatings industry generated $2.1 billion in 2020, and is expected to generate $15.7 billion in 2030, witnessing a CAGR of 22.4% from 2021 to 2030

OREGON, PORTLAND, UNITED STATES, September 11, 2022 / EINpresswire.com / — The global solar panel coatings industry generated $2.1 billion in 2020, and is expected to generate $15.7 billion by 2030, witnessing a CAGR of 22.4% from 2030 to 2030. Allied Market Research published a report, titled, ‘Solar Panel Coatings Market by Type (Anti-reflective, Hydrophobic, Self-cleaning, Anti-soiling, Anti-abrasion, etc. ) and Application (Residential, Commercial, Energy, Agriculture, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030’.

Key determinants of growth
The surge in applications and widespread use of solar energy and government support policies to promote solar energy are driving the growth of the solar panel coatings market. However, the high cost of solar panel coatings is hindering the growth of the market. On the other hand, increased investment in research and development of solar energy presents new opportunities in the coming years.

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Leading Market Players:-
•Arkema Group
• Advanced Nanotech Lab
•Diamon-Fusion International Inc.
•Fenzi SpA
Koninklijke DSM NV
•Nanoman, Nanopool GmbH
• PPG Industries Inc.
•Unelko Corporation

Covid-19 situation
• The outbreak of the Covid-19 pandemic has a negative impact on the global solar panel coatings market.
•The implementation of the lockdown led to the disruption of the supply chain, due to which the manufacturers faced improper transportation of raw materials.
•All offices, hotels, etc. were temporarily closed, leading to reduced power consumption. This is the reason for the decrease in demand for the solar panel industry market.

The hydrophobic part to maintain leadership status throughout the forecast period
Based on type, the hydrophobic segment has the highest market share in 2020, accounting for one-third of the solar panel coatings market, and is estimated to maintain its leadership position throughout the forecast period. However, the anti-soiling segment is expected to exhibit the highest CAGR of 22.4% from 2021 to 2030.

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The energy segment to maintain the leading position during the forecast period
Based on end-use, the energy segment accounts for the largest share in 2020, contributing more than one-third of the solar panel coatings market, and is expected to maintain its leading position during the forecast. The ever-growing government investment in solar power plants to curb the demand for power increases the demand for solar panel coatings market. Furthermore, the commercial segment is expected to show the largest CAGR of 23.2% from 2021 to 2030.

Asia-Pacific, followed by North America to maintain its dominance in 2030
On the basis of region, Asia-Pacific, followed by North America holds the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global solar panel coatings market. This is because this region is home to many megacities and has a constantly increasing population. However, the same region is expected to witness the fastest CAGR of 23.3% from 2021 to 2030.

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of ‘Market Research Reports’ and ‘Business Intelligence Solutions.’ AMR has a focused vision to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market fields.

Pawan Kumar, the CEO of Allied Market Research, leads the organization in providing high quality data and insights. We have professional corporate relationships with various companies and this helps us dig into market data that helps us create accurate research data tables and proves the most accurate of our market forecasting. Every data presented in the reports published by us is obtained through primary interviews with top officials from leading companies in the respective domain. Our secondary data procurement methodology includes in-depth online and offline research and discussion with seasoned industry professionals and analysts.

David Correa
Allied Analytics LLP
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