Asia Pacific Solar PV Glass Market Research Report Information By Application (Crystalline Silicon Photovoltaic Module, Perovskite Module, Thin-Film Photovoltaic Module), By Type (AR-Coated Solar Photovoltaic Glass, Tempered Solar Photovoltaic Glass, TCO-Coated Solar Photovoltaic Glass), By End User (Residential, Commercial, Utility), By Installation (Float Glass Technology, Patterned Glass Technology) –and Asia Pacific Market Forecast Till 2032

Asia Pacific Solar PV Glass Market Overview

Asia Pacific Solar PV Glass Market Size was valued at USD 2.9 Billion in 2022. The Solar PV Glass market industry is projected to grow from USD 3.7 Billion in 2023 to USD 27.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 28.30% during the forecast period (2024 - 2032). The growing adoption of solar glass in residential and commercial structures, expansion in the construction industry, especially in developing nations, and Technological advancements within the solar glass sector are the main market drivers anticipated to propel the Solar PV Glass market in the Asia Pacific.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific Solar PV Glass Market Trends

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  Increasing awareness regarding the benefits of renewable energy solutions and the need to limit environmental degradation is driving the market growth.

  
  

The growing recognition of the advantages offered by renewable energy solutions, coupled with the ongoing imperative to mitigate environmental degradation, will drive the expansion of the solar photovoltaic glass market. Moreover, regulations aimed at reducing greenhouse gas emissions will contribute to the market's value growth. The rising demand for green building technologies in both residential and commercial sectors, along with the adoption of sustainable energy solutions for building structures, will further fuel market growth. According to data from IRENA, nearly half of the new capacity added in 2022 was in Asia, resulting in a total renewable capacity of 1.63 Terawatts (TW) by 2022, with China leading the way with an addition of 141 GW. In 2021, the installed solar capacity in the Asia-Pacific region reached 485.84 GW, marking a significant 19% increase compared to 2020.

India secured the second position in the U.S. Green Building Council's (USGBC) Top 10 Countries and Regions for LEED certification in 2022. The country awarded LEED certification to a total of 323 projects, covering over 10.47 million gross square meters (GSM) of space – more than double the number of projects certified in 2021. In its annual list for 2022, the U.S. Green Building Council (USGBC) declared China as the leading country globally for LEED certification. Following China, India, Canada, Brazil, and Sweden secured the next top positions in the list. These nations signify the increasing global demand for certified LEED green buildings, which play a crucial role in reducing emissions and promoting health and well-being. Thus, driving the Solar PV Glass market revenue.

Asia Pacific Solar PV Glass Market Segment Insights:

Solar PV Glass Application Insights

The Asia Pacific Solar PV Glass market segmentation, based on Application, includes Crystalline Silicon Photovoltaic Modules, Perovskite Modules, and Thin-Film Photovoltaic modules. The crystalline silicon photovoltaic module segment dominated the market. The expansion in this sector can be attributed to the widespread adoption of these modules in utility-scale solar farms. Silicon, due to its well-organized structure, can effectively convert light into energy. Additionally, silicon is an abundant semiconductor and is generally environmentally benign, making it suitable for the production of large-scale solar cells. Conversely, perovskite modules represent a relatively novel technology with higher efficiency compared to traditional modules.

Solar PV Glass Type Insights

The Asia Pacific Solar PV Glass market segmentation, based on Type, includes AR-Coated Solar Photovoltaic Glass, Tempered Solar Photovoltaic Glass, and TCO-Coated Solar Photovoltaic Glass. The AR-coated solar photovoltaic glass segment dominated the market. Solar PV glass with anti-reflective (AR) coating is a specialized variant designed to enhance the efficiency and performance of solar photovoltaic panels. This unique coating minimizes light reflection from the glass surface, allowing more sunlight to penetrate and be absorbed by the solar cells. AR coatings are particularly beneficial in low-light conditions, such as overcast or cloudy days, ensuring consistent energy production even when sunlight intensity is reduced. By optimizing energy conversion, AR-coated solar PV glass actively contributes to reducing greenhouse gas emissions. It finds application in various settings, including residential rooftop installations, extensive solar farms, and building-integrated photovoltaics (BIPV).

Solar PV Glass End User Insights

The Asia Pacific Solar PV Glass market segmentation, based on End Users, includes Residential, Commercial, and Utility. The utility segment dominated the market. Solar PV Glass is widely utilized in utility-scale solar farms, where extensive arrays of solar panels are employed to efficiently harness solar energy. These farms play a significant role in generating substantial electricity, which is then integrated into the power grid for widespread distribution. In September 2022, Amazon India announced three solar farm projects in Rajasthan with a total combined clean energy capacity of 420 megawatts (MW). These projects included a 210 MW project to be developed by ReNew Power, a 100 MW project by Amp Energy India, and a 110 MW project to be developed by Brookfield Renewable. Solar PV Glass installations in the utility sector contribute to grid power, fulfilling the energy needs of residential, commercial, and industrial users. This clean and renewable energy resource enhances grid reliability and serves as a critical tool in providing electricity to remote and rural regions where conventional grid connectivity is challenging. These installations ensure a reliable and sustainable electricity source for underserved communities.

Figure 1: Asia Pacific Solar PV Glass Market, by End User, 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Solar PV Glass Installation Insights

The Asia Pacific Solar PV Glass market segmentation, based on Installation includes Float Glass Technology and Patterned Glass Technology. The Patterned Glass Technology segment dominated the market. Patterned glass efficiently disperses incoming sunlight in a controlled manner, minimizing glare and ensuring uniform solar energy absorption across the entire panel surface, thereby optimizing energy efficiency. These textured patterns effectively reduce reflection and glare from the glass, creating a more comfortable environment for individuals near the solar panels. This feature is especially important in densely populated areas where glare reduction is essential. Patterned glass technology provides the flexibility to customize the appearance and functionality of Solar PV Glass, meeting specific project requirements. It enables tailored solutions that blend aesthetics and utility to suit the needs of each installation.

Solar PV Glass Country Insights

The Asia-Pacific region is poised to lead the solar photovoltaic glass market, driven by countries such as China, India, and Japan, where electricity supply challenges have spurred the adoption of self-generated solar power using photovoltaic glass. China stands as the world's largest manufacturer of solar photovoltaic glass. As of July 2022, China's Ministry of Industry and Information Technology reported that the country's solar glass capacity had reached 64,000 metric tons (MT) per day, distributed across 348 production lines operated by 38 companies, with 313 production lines, totaling 59,000 MT, currently operational. China's significant investment of over USD 50 billion in new PV supply capacity, ten times more than Europe, has led to the creation of over 300,000 manufacturing jobs across the solar PV value chain since 2011. Moreover, in 2021 alone, the value of China's solar PV exports surpassed USD 30 billion, contributing nearly 7% to China's trade surplus over the past five years.

Figure 2: Asia Pacific Solar PV Glass Market Share By Country 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Asia Pacific Solar PV Glass Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Solar PV Glass market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Solar PV Glass industry must offer cost-effective items.

Major players in the Solar PV Glass market are attempting to increase market demand by investing in research and development operations, including Nippon Sheet Glass Co Ltd., AGC Inc., KANEKA CORPORATION, Sisecam, Xinyi Solar Holdings Limited, Taiwan Glass Ind. Corp., Flat Glass Group CO. LTD., Borosil Renewables Ltd., IRICO Group New Energy Co Ltd., Onyx Solar Group LLC, and others.

Key Companies in the Asia Pacific Solar PV Glass market include

• Nippon Sheet Glass Co Ltd.


• Agc Inc.


• Kaneka Corporation


• Sisecam


• Xinyi Solar Holdings Limited


• Taiwan Glass Ind. Corp.


• Flat Glass Group Co. Ltd.


• Borosil Renewables Ltd.


• Irico Group New Energy Co Ltd.


• Onyx Solar Group Llc

Asia Pacific Solar PV Glass Industry Developments

February 2023:Trina Solar Co., Ltd. introduced the Vertex S+ 445W, an n-type dual-glass product designed for rooftop applications. This product delivers optimal power output and ensures long-term operational efficiency.

August 2022:Nippon Sheet Glass Co. announced plans to establish a new manufacturing facility in Malaysia, focusing on enhancing the production capacity of TCO-covered solar PV glass.

BayWa r.e. and SUSI Partners have joined hands to approve renewable energy initiatives in Southeast Asia in December 2023. The focus is to deliver rooftop PV projects to corporates in Thailand, Malaysia, Vietnam, the Philippines and Indonesia markets. Both parties are using SUSI's Asia Energy Transition Fund for project financing, and Baywa undertakes development and operations​.

Flat Glass Group Co. Ltd. made a sale agreement with JA Solar on July 30 for about 230 million square meters of photovoltaic rolled glass supply, which the delivery is expected to last from August 1, 2021 until July 31, 2024. This agreement is of strategic importance because it reveals the cooperative effort of two market leaders to reinforce themselves in the solar energy sector​.

In October 2023, Xinyi Solar, a leading manufacturer of PV glass, entered into a partnership with another Chinese company – Sungrow. The objective of the collaboration was to increase the availability of high-quality glass manufactured by Xiyini with respect to Sungrow's growing solar inverter market. This will facilitate both companies to be competitive in the solar market where a large number of projects need to be undertaken in Asia​.

In September 2023, there was another merger due to an acquisition in the solar energy marketplace, where JinkoSolar was acquired by GCL-Poly Energy Limited. It is anticipated that this strategic, operational merger will promote their operating model in the Asia-Pacific region and enhance the cost structure and speed of the launch of solar PV technologists' products.

Asia Pacific Solar PV Glass Market Segmentation

Solar PV Glass Application Outlook

• Crystalline Silicon Photovoltaic Module


• Perovskite Module


• Thin-Film Photovoltaic Module

Solar PV Glass Type Outlook

• AR-Coated Solar Photovoltaic Glass


• Tempered Solar Photovoltaic Glass


• TCO-Coated Solar Photovoltaic Glass

Solar PV Glass End User Outlook

• Residential


• Commercial


• Utility

Solar PV Glass Installation Outlook

• Float Glass Technology


• Patterned Glass Technology

Solar PV Glass Regional Outlook

• Asia Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Indonesia
  
  
  • Thailand
  
  
  • Vietnam
  
  
  • Malaysia
  
  
  • Singapore
  
  
  • Rest of Asia-Pacific