Portland, OR -- (SBWire) -- 07/12/2017 --The global vision of controlled population growth, sustainable economy development, and cleaner environment has increased the dependence on renewable energy. Majority of the renewable energy sources utilizes sunlight; sunlight is used to generate energy in buildings as well as in industries with the help of photoelectric effect. A solar panel is a device used to convert sunlight into electricity. It is made up of several materials such as sunlight sensitive silicones, doping agents, antireflective agents, and similar others. The market for solar panel materials has witnessed tremendous growth during past few years. Favorable government support, increasing environmental concerns, and energy cost reduction are the significant factors driving the growth of the solar panels consumption, thereby raising the demand for the solar panel materials across the globe. However, efficiency/cost and stability/lifetime ratios are expected to hamper the solar panel materials market growth.

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The market has been segmented on the basis of type, solar panel component, and geography. On the basis of type, the market is segmented into basic material, doping agent, anti-reflective coatings, protective material, frame material, back sheet material, converting material, and others. Based on solar panel component, the market is segmented into cell, module, and array. Furthermore, the market has been segmented on the basis of geographical regions, which include North America, Europe, Asia-Pacific and LAMEA. The consumption of solar panel materials in different countries has also been included in the report. The leading companies in the market have been proactively working towards introducing new material in market in order to reduce price of solar materials. The major companies profiled in the report include Dow Corning, ACC Silicones Ltd., Novagard Solution, Wacker Chemie AG, Bluestar Silicones, Silicon Solar, Crown Advanced Material Company Ltd., Renewsys World, Baixing Group Co. Ltd., and Soli Tek.

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KEY MARKET SEGMENTS:

By Type

- Basic material
- Doping agent
- Anti-reflective coatings
- Protective material
- Frame material
- Back sheet material
- Converting material
- Others

By Solar Panel Component

- Cell
- Module
- Array

By Geography

North America
- U.S.
- Canada
- Mexico

Europe
- Germany
- UK
- Italy
- France
- Other Europe

Asia-Pacific
- India
- China
- Indonesia
- Thailand
- Other Asia-Pacific

LAMEA
- Brazil
- Saudi Arabia
- Other LAMEA