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Rapid Shift in Production Dynamics Powers Asian Photovoltaic Materials Market, Finds Frost & Sullivan

8 pages
Rapid Shift in Production DynamicsRapid Shift in Production Dynamics Powers Asian Photovoltaic Materials Market, Finds Frost & Sullivan PR Newswire SINGAPORE, Nov. 27, 2013 - 2015 to 2020 is expected to be a period of high market growth- With Asia emerging as the production hub for photovoltaic (PV) modules over the last few years due to the obvious cost advantage, PV material suppliers too have shifted their production base to the region. The strong commitment to reduce carbon emissions, along with growing consumer awareness on environmental issues has fuelled the use of renewable energy, further widening market potential for PV materials. Support from governments in the form of subsidies, tax credits and feed-in tariff mechanisms has added to the demand for PV modules, and thereby PV materials in the region. New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Strategic Analysis of Asian Photovoltaic Materials Market, finds that the market earned revenues of US$1.94 billion in 2012 and estimates this to reach US$4.80 billion in 2018. The competitiveness of PV-based power due to continuous technological innovations, efficiency improvements leading to lower costs per watt, spurs the Asian PV materials market. China, Taiwan, and Japan together, account for over 70 per cent of the global solar PV cell or module production. The study covers the segments of frontsheets, encapsulants and backsheets. All PV modules contain all the three key PV materials.
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Rapid Shift in Production Dynamics Powers Asian Photovoltaic Materials Market, Finds Frost & Sullivan

PR Newswire

- 2015 to 2020 is expected to be a period of high market growth-

With Asia emerging as the production hub for photovoltaic (PV) modules over the last few years due to the obvious cost advantage, PV material suppliers too have shifted their production base to the region. The strong commitment to reduce carbon emissions, along with growing consumer awareness on environmental issues has fuelled the use of renewable energy, further widening market potential for PV materials. Support from governments in the form of subsidies, tax credits and feed-in tariff mechanisms has added to the demand for PV modules, and thereby PV materials in the region.