Global Photovoltaic Glass Market By Type (Anti-Reflective Coated Glass,Tempered Glass,TCO), By Application (Residential,Commercial,Utility-Scale), By Region, And Segment Forecasts, 2023 to 2032

The global photovoltaic glass market is experiencing significant growth due to increasing investments in renewable energy and the rising demand for sustainable building solutions. Photovoltaic glass, also known as solar glass, integrates solar cells into glass, enabling buildings to generate electricity from sunlight. As cities strive for green building certifications and energy efficiency,  integrating solar technology into structures becomes increasingly common. 

The global photovoltaic glass market was valued at USD 7.9 billion in 2024 to USD 27.4 billion by 2029, growing at a CAGR of 28.5% from 2024-2029. The COVID-19 pandemic had both immediate and long-term effects on several industries, including manufacturing and construction, which affected the global photovoltaic market. However, the market for the solar photovoltaic market is anticipated to grow as a result of a post-pandemic increase in construction activities in both residential and non-residential sectors.

Premium Insights: 

• The increasing emphasis on green building standards and sustainable architecture is boosting the adoption of photovoltaic glass.

• Subsidies, tax incentives and favourable regulatory frameworks in various countries are promoting the use of photovoltaic glass in construction projects.

• Photovoltaic glass allows buildings to generate their own electricity, reducing reliance on the grid and lowering energy costs.

Global Photovoltaic Glass Market Dynamics:

Drivers: Improved efficiency and cost-effectiveness, government incentives, focus on building integration and growing demand for bifacial solar panels.

Advancements in PV glass technology have led to increased light transmittance, improved durability, and better performance in harsh environments. Additionally, economies of scale due to rising production volumes are making PV glass more cost-competitive.

Many governments are implementing supportive policies like feed-in tariffs, tax credits, and subsidies for solar energy projects. This creates a favourable investment environment for solar panels and incentivises the use of high-quality PV glass.

Building-integrated photovoltaics (BIPV) are gaining traction, incorporating solar panels into building facades and structures. Architectural-grade PV glass with various design options caters to this trend, enabling aesthetically pleasing solar installations.

Bifacial solar panels can capture sunlight from both sides, increasing overall energy generation. Special types of PV glass with high light transmittance are crucial for optimal performance of bifacial panels.

Restraints: fluctuations in raw material prices, limited availability of high-quality PV glass and competition from alternative building materials. 

The cost of raw materials like silicon, used in glass production, can fluctuate significantly. This can impact the overall cost of PV glass and create challenges for project budgeting.

While production capacity is increasing, demand for high-quality PV glass may outpace supply in some regions, potentially leading to price hikes and project delays.

Other transparent building materials may compete with PV glass on factors like cost, aesthetics, and energy efficiency. PV glass manufacturers need to focus on innovation and differentiation to maintain market share.

Opportunities: Focus on innovation & advanced coatings, expansion into emerging markets, Standardisation & quality control measures and focus on customisation 

Developing PV glass with innovative coatings that improve light transmittance, reduce reflection, and offer self-cleaning properties can enhance efficiency and user appeal.

Developing cost-effective PV glass solutions suitable for growing economies presents a significant opportunity. This can involve local production facilities and strategic partnerships within emerging markets.

Implementing industry-wide standards and robust quality control measures can ensure consistent product performance and build trust in the PV glass market.

Offering customised PV glass solutions tailored to specific project requirements and integrating seamlessly with different building materials can enhance market reach and cater to diverse architectural applications.

Market By Photovoltaic Glass Type:

Based on type, the market is segmented into AR-coated, Tempered and TCO-coated. The AR-coated segment accounted for the largest market share in 2023. Anti-reflective (AV) coated solar PV glass is designed to minimise the reflection of sunlight, thereby enhancing the overall efficiency of the solar modules. AR-coated glass contributes to consistent energy despite different weather conditions, optimising overall performance.

Based on installation, the market is segmented into Float and Patterned glass. The pattern glass segment holds the most significant portion of the global PV market. This segment is gaining traction in utility-scale solar projects. The light-scattering properties of this type of installation can help mitigate the effects of potential-induced degradation (PID) in solar modules, enhancing the long-term performance and reliability of solar installations. As the number of large-scale solar projects continues to grow in demand, the PV glass market is expected to witness significant growth.

Based on application, the market is segmented into BIPV (Building integrated photovoltaic) and non-BIPV applications. The BIPV is the largest segment and includes PV glass integrated into building facades, roofs and windows. The market share is attributed to its dual functionality of generating electricity and serving as a building material.

Market By End-Use Insights:

The residential sector is a significant end-use market for photovoltaic glass, driven by increasing consumer awareness and government incentives for residential solar installations.

Market By Region Insights:

Based on regional coverage, the market can be divided into Asia-Pacific, North America and Europe. Asia-Pacific accounted for the largest market share in 2023, particularly China being the lead player in the solar panel production market worldwide hence driving the demand for specialised glass materials. This capability of production and Asia-Pacific's ability to cater to domestic and international markets is transforming the region into a central hub for solar PV glass manufacturing.

Competitive Scenario:

Major players in this industry include  Xinyi Solar Holdings Limited, Nippon Sheet Glass Co., Flat Glass Group Co., Ltd., AGC Inc., Ltd. and Saint-Gobain.

Scope of Work- Global Photovoltaic Glass Market

Key Market Developments 

• July 2023- On an industrial site at the Port of Sagunto (Valencia), AGC Flat Glass Ibérica and Helexia España announced the commissioning of a 4,600 kilowatt photovoltaic plant for self-consumption. The plant has 8,800 photovoltaic modules and takes up 48,400 square metres on the rooftop. This project will prevent the emission of more than 800 tonnes of CO2 equivalent annually with its 7 gigawatt-hour annual production.

• October 2023- Borosil Renewables Limited purchased an 86% interest in Glasmanufaktur Brandenburg (GMB), a company that manufactures solar glass in Europe, and Interfloat Corporation. The acquisition increased the company's capacity to produce solar glass in Europe from 450 TPD to 750 TPD.

Frequently Asked Questions (FAQs)

1. What are the main drivers of the photovoltaic glass market?

Ans. Improved efficiency and cost-effectiveness, government incentives, focus on building integration and growing demand for bifacial solar panels.

2. What are the primary challenges faced by the market?

Ans. The challenges include fluctuations in raw material prices, limited availability of high-quality PV glass and competition from alternative building materials. 

3. What is the current size of the photovoltaic glass market?

Ans. The global photovoltaic glass market was valued at USD 7.9 billion in 2024 to USD 27.4 billion by 2029.

4. What opportunities exist in the market?

Ans. Opportunities include a focus on innovation & advanced coatings, expansion into emerging markets, Standardisation & quality control measures and focus on customisation