The Global PV POE (Polyolefin Elastomers) Market was valued at USD 3.5 Billion in 2025 and is projected to reach USD 7.8 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period (2024 to 2034). This robust growth is being driven by the global expansion of solar energy infrastructure, increasing demand for high-performance encapsulation materials, and the critical need for long-lasting solar panels that can withstand harsh environmental conditions for 25-30 years.

As the solar industry pivots towards more efficient and durable technologies like TOPCon and HJT cells, the spotlight is on the specialist chemical companies providing the advanced materials that ensure module reliability. In this blog, we profile the Top 10 Companies in the PV POE Industry—a mix of global chemical giants and specialized material innovators shaping the future of solar module protection.

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🔟 1. The Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: ENGAGE™ PV POE encapsulant resins

Dow is a global leader in polyolefin elastomers and a pioneer in developing specialized POE grades for photovoltaic applications. Their ENGAGE™ portfolio offers superior adhesion, excellent resistance to potential-induced degradation (PID), and low water vapor transmission rates, making it a preferred choice for protecting next-generation solar cells.

Innovation Initiatives:

• Continuous R&D to enhance POE performance for bifacial and high-efficiency modules

• Strategic partnerships with major solar panel manufacturers worldwide

• Focus on developing sustainable material solutions with extended lifecycle performance

Download FREE Sample Report: PV POE (Polyolefin Elastomers) Market – View in Detailed Research Report

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9️⃣ 2. Mitsui Chemicals, Inc.

Headquarters: Tokyo, Japan
Key Offering: TAFMER™ PV POE resins

Mitsui Chemicals is a key player in the high-performance elastomers market, with its TAFMER™ POE resins widely used in solar module encapsulation. The company’s products are renowned for their excellent transparency, UV stability, and thermal resistance, which are crucial for maintaining module efficiency over decades.

Innovation Initiatives:

• Development of ultra-high purity POE grades for sensitive cell technologies

• Expansion of production capacity to meet growing global demand

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8️⃣ 3. LG Chem

Headquarters: Seoul, South Korea
Key Offering: LUPOLE™ PV POE encapsulants

LG Chem has established itself as a major supplier of POE encapsulants to the global solar industry. Their LUPOLE™ series offers excellent processability and durability, with formulations specifically designed to address the challenges of PID and moisture ingress in diverse climatic conditions.

Innovation Initiatives:

• Investment in next-generation POE technologies for advanced cell architectures

• Collaboration with module makers to optimize encapsulant performance

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7️⃣ 4. SABIC

Headquarters: Riyadh, Saudi Arabia
Key Offering: SABIC® PV POE compounds

SABIC brings its extensive petrochemical expertise to the PV POE market, offering high-quality encapsulant materials that provide superior protection for solar cells. The company’s global reach and strong technical support make it a reliable partner for solar manufacturers seeking consistent, high-performance materials.

Innovation Initiatives:

• Development of tailored POE solutions for harsh desert and humid environments

• Integration of circular economy principles into material development

Download FREE Sample Report: PV POE (Polyolefin Elastomers) Market – View in Detailed Research Report

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6️⃣ 5. ExxonMobil Chemical

Headquarters: Spring, Texas, USA
Key Offering: Vistamaxx™ performance polymers

ExxonMobil leverages its vast polymer expertise to supply high-performance elastomers to the solar industry. Their Vistamaxx™ polymers offer excellent balance of elasticity, clarity, and durability, making them suitable for demanding photovoltaic encapsulation applications where long-term reliability is paramount.

Innovation Initiatives:

• Focus on material consistency and batch-to-batch reliability

• Development of products with improved processing characteristics

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5️⃣ 6. Borealis AG

Headquarters: Vienna, Austria
Key Offering: Queo™ and other specialty polyolefins

Borealis is a leading European supplier of advanced polyolefin solutions, including specialized grades for solar applications. The company’s focus on innovation and sustainability aligns well with the solar industry’s needs for durable, high-performance encapsulation materials that can withstand European climate variations.

Innovation Initiatives:

• Development of POE solutions compliant with EU environmental standards

• Investment in recycling technologies for end-of-life modules

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4️⃣ 7. SK Global Chemical

Headquarters: Seoul, South Korea
Key Offering: SK POE grades for photovoltaic films

SK Global Chemical has emerged as a significant player in the Asian PV POE market, supplying high-quality encapsulant materials to major solar panel manufacturers. Their products are known for excellent optical properties and resistance to yellowing, ensuring maximum light transmission throughout the module’s lifespan.

Innovation Initiatives:

• Expansion of POE production capacity to serve growing Asian solar market

• Development of cost-competitive solutions without compromising performance

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3️⃣ 8. SATINAL S.p.A.

Headquarters: Cologno al Serio, Italy
Key Offering: Specialty POE-based encapsulant films

SATINAL specializes in the production of high-performance encapsulation films for the photovoltaic industry. While not a primary POE producer, the company formulates advanced films using POE resins from major suppliers, offering tailored solutions for specific module designs and environmental conditions.

Innovation Initiatives:

• Development of co-extruded EVA/POE hybrid films

• Focus on customized solutions for premium module segments

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2️⃣ 9. Hanwha Solutions

Headquarters: Seoul, South Korea
Key Offering: Q CELLS proprietary encapsulation solutions

Hanwha Solutions, through its Q CELLS division, is unique as both a major solar panel manufacturer and a developer of advanced encapsulation technologies. The company has deep expertise in material science and understands the critical role of POE in ensuring long-term module performance and reliability.

Innovation Initiatives:

• Vertical integration of material development and module manufacturing

• Proprietary encapsulation formulations for enhanced durability

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1️⃣ 10. Sinopec

Headquarters: Beijing, China
Key Offering: Domestic POE production for Chinese solar industry

As China dominates global solar panel manufacturing, Sinopec plays a crucial role in supplying domestically produced POE materials to the massive local market. The company’s efforts to scale up POE production capacity are vital for supporting China’s renewable energy ambitions and reducing import dependency.

Innovation Initiatives:

• Significant investment in domestic POE production technology

• Development of cost-effective solutions for utility-scale solar projects

Get Full Report Here: PV POE (Polyolefin Elastomers) Market – View in Detailed Research Report

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🌍 Outlook: The Future of PV POE Is Smarter and More Sustainable

The PV POE market is undergoing a significant transformation. While EVA still dominates in volume, POE is increasingly becoming the material of choice for premium and high-efficiency modules due to its superior performance characteristics. The industry is investing heavily in advanced material formulations, production scale-up, and recycling technologies to support the global solar energy transition.

📈 Key Trends Shaping the Market:

• Rapid capacity expansion in Asia, North America, and Europe to meet surging demand

• Development of hybrid EVA/POE films to optimize cost and performance

• Increased focus on recyclability and circular economy principles

• Technical partnerships between material suppliers and module manufacturers for customized solutions

Get Full Report Here: PV POE (Polyolefin Elastomers) Market – View in Detailed Research Report

The companies listed above are not only supplying critical materials for solar energy—they’re enabling the durability and reliability that makes solar power a viable long-term energy solution.

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