The global PV Bonding Adhesives market is anticipated to grow at a significant CAGR during the forecast period. The increased use of PV bonding adhesives in crystalline solar cell technology would aid to drive market growth during the forecast period. In addition to this, some factors that would contribute to the growth of the market include increased investment in manufacturing plants, increased demand from end-use industries, and increased R&D strategies. The global PV bonding adhesive market is growing due to several firms are pursuing strategic initiatives like collaborations, acquisitions, and partnerships to grow their product pipeline with new stage prospects, which is anticipated to drive the market. For instance, In May 2019, Henkel AG & Co. KGaA introduced the Loctite HY 4080 GY and HY 4090 PV adhesives. The items can bond a variety of substrate materials for LED lights, speakers, and sign bonding. The increase in cost savings and technological advancements are responsible for this market expansion.
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On the other hand, rising demand for green, non-hazardous, and sustainable adhesives, as well as increased awareness of the advantages of PV bonding adhesives over traditional approaches, will create new opportunities that will propel the market forward during the forecast period. High costs and time-consuming approvals are two factors that could obstruct the growth of the global PV bonding adhesives market. Furthermore, the high cost of PV bonding adhesives and advancements in conventional adhesives technologies would hinder the growth of the global PV bonding adhesive market.
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Market Coverage:
- Segment Covered-
o By Product Type
o By Application
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the Word
- Competitive Landscape: H.B. Fuller, 3M Company, Henkel, Evonik Industries, Epic Resins, Dow, Sika.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global PV Bonding Adhesive Market by Segments
By Product Type
- Epoxy-based Adhesive
- Polyurethane-based Adhesive
- Silicon-based Adhesive
- Others
By Application
- Crystalline Silicon Solar Cell
- Thin Film Solar Cell
- Other
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