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New study: Solar panel coatings market is expected to rise at a remarkable CAGR by 2025

New study: Solar panel coatings market is expected to rise at a remarkable CAGR by 2025

Solar panel coatings are deposited on solar modules or panels during their manufacturing process so as to increase their efficiency and protection levels. These coatings are broadly classified into two types: anti-reflective coatings and Nano coating. Anti-reflective coatings are a variety of optical coatings applied to the surface of the lenses and other optical elements to reduce reflection. They help improve the efficiency of the lenses by reducing the amount of lost light. Anti-reflective coatings find a wide variety of applications in solar cells as they face limited losses and require low reflection. Solar cells are composed of silicon material with a high reflection surface of over 30%, which can be reduced by texturing and applying anti-reflective coatings to increase the efficiency of the panels which generate electricity through sunlight.

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Nano coatings are used extensively on glass, making it hydrophobic and dust-repellant, and thereby easily cleanable. Nano coatings find application in most weather circumstances such as excessive rain, dust, sand, and pollution.

One of the main advantages of nano coatings is their hydrophobic property which aids the quick repelling of water and enhances the efficiency of the solar panel during unpleasant weather. Nano coatings exhibit self-cleaning properties by stopping dust and grime from sticking to the PV panels, helping them stay clean and retaining their efficiency to ensure that a high amount of electricity is produced.

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The market for solar panel coatings is mainly driven by the manufacturing of solar modules or cells. There is huge demand for solar panels in the generation of solar energy, which has been a key driver of the solar panel coatings market in the last few years.

Their exceptional hydrophobic, self-cleaning, and anti-reflective properties are likely to drive this market at a significant rate over the forecast period. Due to its self-cleaning property panels or modules require less or zero maintainence cost and also helps in increasing the overall efficiency for generating electricity.

Extensive research and development offers long lasting, invisible and renewable protection for enhancement and power conversion efficiency of solar modules.

Asia Pacific was the dominant region in terms of demand for solar panel coatings. It is also expected to be a rapidly expanding market due to the high demand for solar panel coatings from the renewable energy industry in the region.

China is the leading country as it plays home to numerous solar panel manufacturers. Japan and India are predicted to grow because of the abundant solar installations in these countries.

Technological advancements in the renewable energy industry have been the driving force behind the expansion of the solar panel coatings market in this region. Asia Pacific was followed by North America and Europe.

The U.S. exhibited major demand for solar panel coatings owing to the well-established solar module installation market offering high levels of efficiency in this country. On the basis of demand, Europe was the third leading region for the solar panel coatings market.

Middle East & Africa and Latin America constituted minor shares in the solar panel coatings market. However, the situation in these regions is anticipated to change owing to the developments in the solar power industry.

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Key manufacturers in the solar panel coatings market include Nanopool Gmbh, Nanoshell Ltd, P2i Ltd, Nanosonic Inc., and Nanoclear. 

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size.

The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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