Global Thin-Film Market Grows 105%
The global solar photovoltaics (PV) market is dominated by silicon-based technology. Thin-film technology evolved from the early 2000s, but production remained marginal until 2006, according to the new report, “Thin-Film PV-Global Market Size, Price Analysis, Regulations and Competitive Landscape to 2020,” available from Research and Markets.
The crystalline silicon PV supply experienced a polysilicon shortage and became prohibitively expensive, thus shifting the focus of solar PV module manufacturers toward thin-film module technology. Thin-film modules, benefiting from advancing technologies, have since experienced increased market presence in the solar PV market, growing from 8% in 2006 to 17% in 2010.
The growth of the global thin-film market over the past five years has been remarkable. Production grew at a compound annual growth rate (CAGR) of 105% from 2006 to 2010, based on market drivers including a contraction in crystalline silicon (c-Si) modules supply due to the polysilicon shortage, the development of favorable policies by federal governments, and thin-film technology advancements. Many new players arrived on the scene, and established crystalline module manufacturers increased their profits, mitigated risks, and expanded their product portfolios.
By 2010, thin-film production reached 3,627 megawatts (MW), capturing 17% of the global solar PV market. With the technological advancements toward the development of efficient and cost-effective thin-film modules, the market is expected to grow at a CAGR of 16% over the period 2010-2020, reaching 15,895 MW of market volume by 2020.
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