Worldwide Solar Electrically Conductive Adhesive Industry to 2027 - Enhanced Performance Characteristics and Reduction of Assembly Costs are Driving Growth - ResearchAndMarkets.com
September 28, 2021 at 07:15 AM EDT
The "Solar Electrically Conductive Adhesive Market" report has been added to ResearchAndMarkets.com's offering.
Electrically conductive adhesives are used to join electronic/electrical components. These adhesives help to complete the circuit and also maintain the conductivity of the circuit. These adhesives are also used in solar panels and solar cells. Electrically conductive adhesives possess qualities like low shrinkage, moisture resistance, and strong bonds primarily due to the presence of filler materials.
Solar panel adhesives help reduce assembly cost. They also aid in achieving high volume manufacturing goals. For instance, currently, renewable energy technologies like photovoltaic modules are burdened by high costs in terms of assembly & material. Higher production volumes of solar panels & automated adhesive assembly are expected to provide cost reduction in upcoming years. Consequently, electrically conductive adhesives play a vital role during the process of manufacturing and installation in the solar industry.
Moreover, Adhesives eliminate the need for mechanical fasteners such as screws and U-bolts, and further facilitate in complete removal of stress points caused by these fasteners. They also offer long-lasting protection, durability, and structural strength to the solar panel due to their characteristic features such as high thermal & electrical management and resistance against UV rays. As a result, enhanced performance characteristics & reduction of assembly cost are some of the significant factors driving the solar panel adhesives market.
Stringent regulations related to the use of volatile organic compounds (VOCs) in the manufacturing of electrically conductive adhesive are the factors restraining the market growth. The market is facing challenges because of technological changes. Shorter leads may damage temperature-delicate components in several applications and to control such obstacles electrical components should be assembled after soldering. Conversely, this hampers productivity due to higher costs of production and time consumed in the manufacturing process. Growing concern over the emission of volatile organic compounds (VOCs) is anticipated to impede the market growth during the forecast period. During the manufacturing of electronics adhesives, VOC is discharged that may expose to health and environmental concerns. VOCs are the major contributors to smog & ozone formation at low atmospheric levels.
Solar being a major part of renewable energy sources, is gaining momentum, owing to its being one of the clean sources of energy. The increase in the use of solar energy will ultimately pave the way for the growth of solar electrically conductive adhesives globally. According to the International Energy Agency (IEA), renewable electricity generation in 2021 is expected to expand by more than 8% to reach 8 300 TWh, the fastest year-on-year growth since the 1970s. Additionally, Solar PV and wind are set to contribute two-thirds of renewables growth. China alone should hold for almost half of the global increase in renewable electricity in 2021, followed by the United States, the European Union and India. Moreover, renewable energy use increased by 3% in 2020 despite being a pandemic situation.
The increase demand was also fueled due to the fact that demand for all other fuels declined. The key driving factor for the growth was contributed by an almost 7% growth in electricity generation from renewable sources. Long-term contracts, priority access to the grid as well as continuous installation of new plants underpinned renewables growth despite lower electricity demand, supply chain challenges & construction delays in many parts of the world. Consequently, the share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019. All these factors will directly impact the use of solar electrically conductive adhesives towards the growth opportunity.
Key Questions Addressed by the Report
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Global Solar Electrically Conductive Adhesive Market Outlook
4.2 Market Dynamics
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Solar Electrically Conductive Adhesive Market, By Chemistry
6 Global Solar Electrically Conductive Adhesive Market, By Application
7 Global Solar Electrically Conductive Adhesive Market, By Material
8 Global Solar Electrically Conductive Adhesive Market, By Region
9 North America Solar Electrically Conductive Adhesive Market Analysis and Forecast (2020-2027)
10 Europe Solar Electrically Conductive Adhesive Market Analysis and Forecast (2020-2027)
11 Asia Pacific Solar Electrically Conductive Adhesive Market Analysis and Forecast (2020-2027)
13 Middle East Solar Electrically Conductive Adhesive Market Analysis and Forecast (2020-2027)
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
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