The Global Encapsulant Materials for PV Modules Market was valued at USD 6,281 Million in 2024 and is projected to reach USD 7,193 Million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 2.0% during the forecast period (2024–2032). This growth is primarily driven by the exponential expansion of global solar energy capacity, technological advancements in module design—particularly the rise of bifacial panels—and the continuous push for higher efficiency and longer-lasting photovoltaic systems.

As the solar industry intensifies its focus on durability, efficiency, and sustainability, the critical role of high-performance encapsulants becomes increasingly apparent. These materials are the protective heart of every solar panel, safeguarding delicate cells against moisture, mechanical stress, and decades of UV exposure. In this blog, we profile the Top 10 Companies in the Encapsulant Materials for PV Modules Industry—a dynamic mix of established chemical giants and specialized manufacturers shaping the future of solar module reliability.

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🔟 1. First Applied Materials

Headquarters: Hangzhou, Zhejiang, China
Key Offering: EVA Films, POE Films, Encapsulation Solutions for High-Efficiency Modules

First Applied Materials is a global leader in the photovoltaic materials sector, holding a dominant position in the encapsulant films market. The company supplies a comprehensive portfolio of ethylene-vinyl acetate (EVA) and polyolefin elastomer (POE) films to major PV module manufacturers worldwide. Its strong R&D focus and vertically integrated production capabilities allow it to cater to the evolving demands for higher durability and performance, especially for bifacial and double-glass modules.

Innovation Initiatives:

• Pioneering development of ultra-transparent and fast-curing EVA formulations

• Significant investment in expanding POE film production capacity to meet growing demand

• Strategic partnerships with leading solar panel producers for customized encapsulant solutions

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Encapsulant Materials for PV Modules Market – View in Detailed Research Report

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9️⃣ 2. HIUV Materials Technology

Headquarters: Suzhou, Jiangsu, China
Key Offering: EVA Encapsulant Films, POE Encapsulant Films, Backsheet Materials

HIUV Materials Technology has rapidly emerged as a key player, specializing in the research, development, and production of encapsulant films and backsheets. The company is renowned for its cost-effective and high-quality EVA films, which are widely used in conventional modules. It is also aggressively expanding its POE film offerings to capitalize on the shift towards more advanced panel technologies requiring superior moisture and degradation resistance.

Innovation Initiatives:

• Focus on improving the UV stability and cross-linking efficiency of its EVA films

• Expanding manufacturing footprint to better serve the Asia-Pacific market, which accounts for 94% of global demand

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8️⃣ 3. Sveck Photovoltaic Materials

Headquarters: Taizhou, Zhejiang, China
Key Offering: EVA Films, POE Composite Films, Specialty Encapsulants

Sveck Photovoltaic Materials is a major supplier known for its robust product portfolio and strong customer relationships with tier-1 module manufacturers. The company’s strength lies in its ability to produce consistent, high-purity encapsulant films that meet stringent international quality standards. Sveck is actively investing in co-extruded and multi-layer films that combine the benefits of different polymer systems for optimized performance.

Innovation Initiatives:

• Development of anti-PID (Potential Induced Degradation) formulations for long-term module reliability

• Investment in automation and process control to enhance production efficiency and product consistency

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7️⃣ 4. Mitsui Chemicals

Headquarters: Tokyo, Japan
Key Offering: EVA Films, Adhesive Films, High-Performance Polymers for PV

Mitsui Chemicals brings its extensive expertise in polymer science to the PV encapsulant market. The Japanese chemical giant offers high-performance EVA films known for their excellent adhesion properties and weathering resistance. Leveraging its global presence and strong technical support services, Mitsui Chemicals serves a diverse clientele and is focused on developing next-generation materials for the solar industry’s future needs.

Innovation Initiatives:

• R&D into novel polyolefin-based encapsulants with enhanced durability and recyclability

• Commitment to sustainability through the development of eco-friendly material solutions

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Encapsulant Materials for PV Modules Market – View in Detailed Research Report

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6️⃣ 5. STR Solar

Headquarters: San Diego, California, USA
Key Offering: EVA Films, POE Films, Encapsulation Services

STR Solar is a leading North American supplier of encapsulant materials, providing high-quality films to module manufacturers across the continent. The company differentiates itself through its technical expertise and customer-centric approach, offering tailored solutions for specific climatic conditions and application requirements. STR Solar plays a vital role in supporting the growing U.S. solar manufacturing sector.

Innovation Initiatives:

• Specialization in films designed for harsh environments, such as high humidity and extreme temperatures

• Focus on reducing the carbon footprint of its manufacturing processes and products

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5️⃣ 6. 3M

Headquarters: Saint Paul, Minnesota, USA
Key Offering: Specialty Adhesives, Polyolefin Films, Acrylic Encapsulants

3M is a globally recognized innovator in materials science, applying its vast experience to the PV encapsulation market. While not a volume leader in standard EVA films, 3M is a key player in developing specialized, high-value encapsulant solutions. Its products often feature unique properties, such as enhanced optical characteristics or application-specific adhesion, catering to niche and high-performance module segments.

Innovation Initiatives:

• Pioneering research into non-EVA based encapsulant systems, including advanced polyolefins and acrylics

• Development of rapid-lamination and low-temperature curing technologies to improve module production efficiency

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4️⃣ 7. Hanwha Solutions (Q Cells)

Headquarters: Seoul, South Korea
Key Offering: EVA Films, POE Films, Integrated PV Module Solutions

Hanwha Solutions, the parent company of Q Cells, is a vertically integrated solar powerhouse that also produces its own encapsulant materials. This internal capability ensures stringent quality control and allows for the optimization of encapsulant properties specifically for Hanwha’s high-efficiency Q CELLS and Q.ANTUM modules. The company also supplies films to other module manufacturers, leveraging its large-scale production expertise.

Innovation Initiatives:

• Integration of encapsulant R&D with cell and module development for synergistic performance gains

• Focus on enhancing light transmittance and durability to boost the power output and lifespan of its modules

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3️⃣ 8. RenewSys

Headquarters: Bengaluru, Karnataka, India
Key Offering: EVA Encapsulants, POE Encapsulants, Solar Backsheets

RenewSys is India’s leading manufacturer of PV encapsulation materials and backsheets. The company plays a crucial role in supporting the country’s ambitious solar energy goals by providing locally produced, high-quality materials. RenewSys’s products are certified to international standards and are used by module manufacturers both within India and in export markets, contributing to the resilience of the regional solar supply chain.

Innovation Initiatives:

• Developing encapsulants tailored to the high-temperature and high-humidity conditions prevalent in many parts of India

• Expanding production capacity to reduce India’s reliance on imported PV components

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2️⃣ 9. Cybrid Technologies

Headquarters: Suzhou, Jiangsu, China
Key Offering: EVA Films, POE Films, PV Ribbon, Soldering Paste

Cybrid Technologies is a diversified supplier to the PV industry, with encapsulant films being a core part of its business. The company benefits from offering a range of complementary products, including interconnection ribbons and soldering materials, providing a one-stop-shop for module manufacturers. Cybrid is focused on technological advancement and cost optimization to maintain its competitive edge in a price-sensitive market.

Innovation Initiatives:

• Investment in automating and scaling up its film production lines to improve efficiency and yield

• R&D focused on improving the mechanical strength and moisture barrier properties of its films

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1️⃣ 10. TPI Polene

Headquarters: Bangkok, Thailand
Key Offering: EVA Encapsulant Films

TPI Polene is a significant player in Southeast Asia’s solar materials market. As a major petrochemical company, it leverages its backward integration into raw materials to produce cost-competitive EVA encapsulant films. Its strategic location in Thailand positions it well to serve the growing PV manufacturing hubs in the region, contributing to the diversification of the global supply chain beyond China.

Innovation Initiatives:

• Focus on producing consistent, high-quality EVA resin, which is a key raw material for encapsulant films

• Expanding its market presence in Southeast Asia and other emerging solar markets

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Encapsulant Materials for PV Modules Market – View in Detailed Research Report

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

The encapsulant materials market is undergoing a significant evolution. While EVA films continue to dominate due to their proven track record and cost-effectiveness, the industry is steadily transitioning towards advanced polyolefins (POE) and hybrid solutions that offer superior protection against degradation, especially in demanding applications like bifacial and large-format modules.

📈 Key Trends Shaping the Market:

• Accelerated adoption of POE and co-extruded EVA/POE films for enhanced module longevity and performance

• R&D focus on developing recyclable and bio-based encapsulant materials to improve sustainability

• Geographic diversification of manufacturing capacity to build more resilient supply chains

• Integration of functional additives into encapsulants to provide properties like self-cleaning or enhanced thermal conductivity

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Encapsulant Materials for PV Modules Market – View in Detailed Research Report

The companies listed above are not only supplying a critical component for solar panels—they are actively driving the innovation necessary to ensure the long-term reliability and efficiency of the global solar fleet.