PV materials market to be worth $27.2 bn in 2018
Supply and demand will come back into balance in 2015.
The global market for photovoltaic (PV) materials will be worth $27.2 billion in 2018, up from $17.8 billion in 2012, says Lux research. As PV supply and demand come back into balance in 2015, margins will steadily improve and create new opportunities for innovative materials developers, according to the analyst.
“Differentiated materials that enable high cell or module efficiencies or longer lifetime will be able to earn a premium and cash in on the growing demand,” said Fatima Toor, Lux Research Analyst and the lead author of the report titled, “From Cost Reductions to Performance Enhancements: Mapping the $27 Billion Photovoltaic Materials Market.”
“In addition, the push towards improved quality will lead to materials innovations that not only drive down the $/W but also the $/kWh, enabling sustainable growth of global PV demand,” she added.