The global solar panel coatings market revenue was US$ 2.54 billion in 2021. The global solar panel coatings market revenue is forecast to reach US$ 15.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 22.45% during the forecast period from 2022 to 2030.

A solar panel is a device that converts light energy into electricity using a collection of photovoltaic cells. An external coating is applied to these panels during the manufacturing process, making them resistant to impact and scratches while offering waterproof properties to prevent water accumulation. Additionally, they are coated with an anti-dust material to keep dust from accumulating on the panels.

Factors Influencing Market Growth

A solar panel coating reduces maintenance costs while improving solar panels' life and efficiency. Due to the above factors, the solar panel coatings market is growing.
Increasing awareness of the advantages of solar panel power generation by people and large-scale industries is the key factors driving the growth of the global solar panel coatings market.
A leading factor that drives the growth of the global solar panel coatings market is the government policies and investments of the state and private entities in solar power plants to meet future energy demands.
Solar panel manufacturers face challenges such as high initial investment and low return on investment, which may slow down the growth of the global solar panel coatings market.
Impact Analysis of COVID-19

The COVID-19 pandemic had a severe impact on the global solar panel coatings market. A number of precautionary lockdowns and other restrictions imposed by governments worldwide caused significant disruptions in their respective manufacturing and supply-chain operations. In addition, consumer demand has also decreased as individuals were more inclined to eliminate non-essential expenditures from their budgets as this outbreak has severely undermined their general economy. All these factors have reduced the demand and growth of the global solar panel coatings market.

Regional Insights

Region-wise, Asia-Pacific held dominance in the global solar panel coatings market. In this region, India and China are prominent players due to their large populations and energy demands. Solar power is one of India's fastest-growing industries. As of August 2021, the country has installed a solar capacity of about 44.3 GW. Additionally, India has established nearly 42 solar parks to provide access to land for solar plant developers. As of January 2021, the Ministry of New and Renewable Energy reported that 36,03 GW of solar projects were in various stages of implementation, and 23,87 GW were in the tendering process. The national policies to make China carbon neutral by 2060 have increased non-fossil fuels in primary energy consumption to around 25% by 2030. It is forecast to drive the solar PV industry and provide ample opportunities for the solar panel coating market to grow in the region.

Leading Competitors

The leading prominent companies profiled in the global solar panel coatings market are:

Arkema Group
Advanced Nanotech Lab
Diamon-Fusion International Incorporated
Fenzi SpA
Koninklijke DSM N.V
Nanoman
Nanopool GmbH
PPG Industries Incorporated
Unelko Corporation
The 3M Company
Other Prominent Players
Scope of the Report

The global solar panel coatings market segmentation focuses on Type, End-Use, and Region.

Segmentation based on Type

Anti-reflective
Hydrophobic
Self-cleaning
Anti-soiling
Anti-abrasion
Others
Segmentation based on End-Use

Residential
Commercial
Energy
Agriculture
Automobiles
Others
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America