Strong Growth in Photovoltaic Glass Industry Expected to Continue
In 2010-2015, global cumulative PV installed capacity registered a CAGR of 41.6%.
Photovoltaic (PV) glass is directly used for solar PV power generation and solar thermal power generation system components and plays a role in transmission and sunlight control or conduction. The global PV industry has developed steadily in recent years, according to a recent report from RnR Market Research. In 2010-2015, global cumulative PV installed capacity registered a compound annual growth rate (CAGR) of 41.6%, which brought rapid growth of PV glass consumption. In 2015, global PV glass consumption attained 580 million m2, up 44.4% over the previous year. The CAGR is expected to stay above 20% during 2016-2020.
China is the world’s largest PV glass producer and accounts for roughly 75% of total capacity. In 2015, China produced 310 million m2 of PV glass, up 14.1% from 2014. The output is expected to reach 350 million m2 in 2016 and exceed 500 million m2 in 2020. The Chinese PV glass market enjoys a high concentration ratio, with CR5 of 66.3% in 2015. Among them, Xinyi Solar Holding Ltd. occupied the first place with a 26% share. In the future, following the capacity expansion of major PV glass manufacturers, the market concentration will be further improved.
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