Material volume analysis and revenue mapping throughout the photovoltaic value chain were employed to determine the global market valuation. The methodology comprised the following:
Identification of over 50 prominent manufacturers of encapsulant materials (EVA, PVB, POE, silicone) and crystalline silicon/thin-film module producers in North America, Europe, Asia-Pacific, and Latin America
Product mapping for crystalline silicon PV, thin-film CdTe/CIGS, floating solar, and bifacial modules, as well as encapsulation material chemistries and film thickness configurations.
Examination of annual revenues that are specific to encapsulant product lines and backsheet-encapsulant integrated solutions, as reported and modeled
In 2024, the global market share will be represented by manufacturers and material suppliers that cover 75-80% of the market.
Segment-specific valuations for utility-scale, commercial, and residential photovoltaic applications are derived through extrapolation using bottom-up (GW installation capacity × encapsulant usage factor (kg/MW) × ASP by material type and region) and top-down (chemical company segment revenue validation against module bill-of-materials analysis) procedures.