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Yahoo
07-07-2025
- Business
- Yahoo
Photovoltaics (PV) Films Market worth $41.59 billion by 2034 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., July 7, 2025 /PRNewswire/ -- The report "Photovoltaics (PV) Films Market by Raw material (EVA, PVB, POE), Application (Ground-mounted PV, Building-integrated PV) - Forecast to 2034", photovoltaics (PV) films market size is projected to grow from USD 14.05 billion in 2025 to USD 41.59 billion by 2034, registering a CAGR of 12.8% during the forecast period. Browse in-depth TOC on "Photovoltaics (PV) Films Market" 140 – Tables60 – Figures200 – Pages Download PDF Brochure: The market for photovoltaic films is expanding driven primarily by emerging technologies, such as Tunnel Oxide Passivated Contact (TOPCon) and Heterojunction Technology (HJT)—that need encapsulation designed for them specifically to be successful. TOPCon and HJT cells have steadily improving efficiencies and energy conversion rates over existing silicon-based cells, making them the most widely implemented technologies in the solar industry. They are, however, more susceptible to environmental conditions that require advanced encapsulation films with improved UV protection, thermal stability, and electrical insulation. HJT cells, which have crystalline silicon combined with hybrid amorphous silicon layers, are an example of the necessity of films to mitigate potential-induced degradation (PID). PVB films based is anticipated to be the largest segment in photovoltaics (PV) films market, by raw material, in terms of value, during the forecast period PVB films account for the largest share of the photovoltaic films market. The preferred choice for encapsulation films is likely a result of its excellent physical and chemical properties, and compatibility with new PV (photovoltaic) technology. PVB was first developed for laminated safety glass use in the automotive and construction industries. The films have some prized benefits, such as superior adhesion to glass, high optical clarity, and stronger protection from UV and moisture from extreme environmental conditions in regions, such as the Middle East & Africa, which relate to high heat, sand, and UV exposure. Furthermore, PVB provides structural support by enhancing the mechanical strength and impact resistance of the panel assembly, helping protect it from damage during transportation, installation, or exposure to adverse weather conditions. Much of the damage can lead to loss of efficiency and even shorten the product life of the solar panel. However, with new advances in bifacial and building integrated photovoltaics (BIPV) that use glass-glass module combinations, demand is expected to grow for encapsulation materials like PVB. Request Sample Pages: Ground is projected to be the largest segment in photovoltaics (PV) films market, by application, during the forecast period Ground solar applications constitute the largest share in the application segment of the global market for photovoltaic films because the geography, infrastructure, and economy in many regions support the deployment of large-scale solar energy. Globally, semi-arid and arid land areas with low vegetation cover and minimal land-use conflicts make them suitable for utility-scale solar installations. Ground-mounted photovoltaic (PV) systems and installations, particularly utility-scale solar farms, are heavily reliant on films since large quantities of encapsulation films are necessary to protect solar panels and enhance the durability and service life of solar panels that are subjected to harsh climate, energy, extreme UV radiation exposures, high temperatures, sand storms and high humidity conditions in coastal zones. Ground systems also provide optimal utilization of PV to achieve maximum energy yield with maximum power point tracking, coupled with ideal orientation/solar tracking, which is increasingly significant in areas experiencing rapid urbanization and industrialization. Asia Pacific is expected to be the largest region in the photovoltaics (PV) films market, during the forecast period Asia Pacific accounts for the largest share of the photovoltaic film market, owing to its strong manufacturing industries and rapidly developed solar energy sector. China, India, Japan, and South Korea continue to be leaders in deploying solar energy, with an active push to promote the use of renewable energy by the government. China is home to many of the global leaders in solar panel manufacturing, which creates great demand for encapsulation films that enclose and protect the solar cells and meet module efficiencies. Asia Pacific has local producers of encapsulation materials and a geographically well-established supply chain that enables producers to get high-quality, inexpensive substrate material. Thus, the region has heavily invested in energy security and promotes energy sustainability, which has led to considerable utility-scale solar development and rooftop installations. Encouraging policies like subsidies and long-term solar install targets also spur momentum. Moreover, skilled labor and access to raw materials provide a competitive advantage in the supply of photovoltaic films. Request Customization: To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the photovoltaics (PV) films market such as H.B. Fuller Company (US), 3M (US), Kuraray Co., Ltd (Japan), JA SOLAR Technology Co., Ltd. (China), Borealis AG (Austria)., Jiangsu Sveck Photovoltaic New Material Co., Ltd (China), HANGZHOU FIRST APPLIED MATERIAL CO.,LTD. (China), Shanghai HIUV New Materials Co.,Ltd. (China), Guangzhou Lushan New Materials Co., Ltd. (China), Betterial (China), Mitsui Chemicals, Inc. (Japan), Hanwha Group (South Korea), Zhejiang Sinopont Technology Co.,Ltd. (China), and Cybrid Technologies Inc. (China). Get access to the latest updates on Photovoltaics (PV) Films Companies and Photovoltaics (PV) Films Market Size Browse Adjacent Market: Foam and Insulation Market Research Reports & Consulting Related Reports: EVA Films Market - Global Forecast to 2029 Epoxy Resin Market - Global Forecast to 2030 Tower Crane Rental Market - Global Forecast to 2030 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
02-07-2025
- Business
- Economic Times
4 reasons why Reliance Industries shares could rally up to 18%
Shares of Reliance Industries Ltd (RIL), India's most valued company, could surge as much as 18% from current levels, driven by strong prospects in its new energy ventures, an expected rebound across key business verticals, and bullish technical signals. ADVERTISEMENT Analysts at brokerages including Nuvama and CLSA have cited multiple tailwinds that may power the next leg of the stock's rally, with target prices ranging from Rs 1,650 to as high as Rs 1,801. The stock was trading at Rs 1,518.65 on the BSE on Wednesday, July 2, down 0.6%. While RIL shares have underperformed over the last one year, falling 2.7%, they have rebounded smartly in recent months, gaining 24.4% in the last six months, 21.2% in the last three months, and 4.7% in the past week alone. Nuvama has assigned the highest Street target of Rs 1,801 for Reliance, citing a potential re-rating similar to the one seen after the 2017 Jio launch. The firm's optimism stems from RIL's aggressive push in the New Energy space, particularly in solar its recent analyst meeting, RIL announced the operationalisation of its first 1GW Heterojunction Technology (HJT) module manufacturing line, which will eventually scale to a fully integrated 10GW capacity by early calendar year 2026. Nuvama's channel checks suggest RIL has already begun offering these modules in the domestic market, even before its power generation arm goes live."RIL's modules business (20GW capacity) yields an EV of $20bn, which could trigger a valuation re-rating for RIL—similar to the trend seen post-RJIO's launch in 2017. RIL's New Energy rollout shall not only add 50%-plus to PAT, but also rerate valuations, including the O2C business given its net zero-carbon target by 2035," said Nuvama analysts Jal Irani and others. ADVERTISEMENT The brokerage estimates profit after tax (PAT) from the New Energy segment, including modules and power, to grow from Rs 20 billion in FY27 to Rs 114 billion by FY30, a compound annual growth rate of 140% over FY26–30. The share of New Energy in total PAT could hit 9% by FY30 under conservative assumptions, with a faster ramp-up potentially delivering further upside. On the charts, RIL is showing strong bullish undertones. The stock is currently trading above all its key simple moving averages — 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day — suggesting strength across both short-term and long-term time frames. ADVERTISEMENT Momentum indicators support this view. The Relative Strength Index (RSI) stands at 70.6, in overbought territory, which typically signals strong buying pressure, albeit with a possibility of a short-term pullback. The Moving Average Convergence Divergence (MACD) is at 25.6 and remains above both the center and signal lines, further reinforcing the ongoing uptrend. ADVERTISEMENT According to CLSA, Reliance is entering a critical earnings cycle, starting with its first-quarter results (Q1FY26) expected later in July. The brokerage sees this as a turning point following a subdued FY25."Reliance Industries is entering into an exciting period, beginning with its 1QFY26 earnings, where we expect to see notable improvements in KPIs across its key businesses," CLSA analyst Vikash Kumar Jain said, maintaining an 'outperform' rating and a target price of Rs 1,650, implying a 8.6% potential upside. ADVERTISEMENT CLSA believes that last year's drag was primarily due to operational streamlining in retail, which has now concluded. The brokerage expects Reliance Retail to report high-teens EBITDA growth year-on-year from Q1 telecom, Jio added 2.6 million mobile subscribers in April 2025 alone, as per TRAI data. Jain noted that broadband subscriber additions, including AirFiber, could lead to 9–10 million new subscribers in Q1, more than the total 6 million added in all of CLSA's GRM (gross refining margin) marker indicates a quarter-on-quarter gain of $1.1/bbl, which could boost profitability in the Oil-to-Chemicals (O2C) segment. RIL's upcoming annual general meeting, expected in August or September, is likely to be a key event for investors. CLSA believes the AGM could provide updates on a possible Jio IPO, along with developments in the quick commerce, FMCG, and new energy businesses. "Accordingly, watch out for the upcoming AGM in August/September. We are raising the SotP-based target price to Rs 1,801, highest on Street, to factor in the potential for higher-than-than-expected module profits; reiterate 'buy'," Nuvama the 2024 AGM, RIL had announced its ambition to increase the New Energy segment's PAT contribution to over 50% by 2030. Nuvama expects additional New Energy businesses, including a planned 30GWh battery facility, electrolyser manufacturing via a partnership with Nel ASA, and 55 upcoming compressed biogas (CBG) plants, to contribute in a phased manner. While RIL shares have already gained over 25% in 2025 so far, analysts see more room to run, backed by structural growth in green energy, improving fundamentals in retail and telecom, and key catalysts on the horizon. With the highest target at Rs 1,801, the implied upside from current levels stands at nearly 18%, making the stock one to watch in the coming months. Also read | Solar a Jio moment for Mukesh Ambani? Reliance shares get highest target price (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
India.com
01-07-2025
- Business
- India.com
One more Jio moment for Mukesh Ambani? Reliance Industries shares get highest target price from…, the industry is….
Mukesh Ambani Nuvama has set the highest target price of Rs 1,801 for Reliance Industries (RIL), also claims that solar module production can trigger a re-rating similar to the increase experienced after Reliance Jio's 2017 launch. RIL had announced its first 1 GW HJT module facility which can be scaled to 10 GW by early CY26. The broker also claimed that the production of solar modules can give a re-rating which can match the period after launch of Jio in 2017, reported by Economic Times. At its recent analyst meet, RIL announced the start of its first line of HJT module manufacturing facilities. Nuvama has checked with industry participants and revealed that RIL has offered to sell its HJT modules in the lucrative domestic market. 'RIL's modules business (20 GW capacity) yields an EV of $20 billion, which could trigger a valuation re-rating for RIL, similar to the trend seen post-RJIO's launch in 2017. RIL's New Energy rollout will not only add over 50% to PAT but also re-rate valuations, including the the O2C business, given its net-zero carbon target by 2035,' Nuvama analysts Jal Irani and others said in a note, as reported by ET. Reliance Industries Share Price Target 'Accordingly, watch out for the upcoming AGM in August/September. We are raising the SOTP-based target price to Rs 1,801 the highest on the Street to factor in the potential for higher-than-expected module profits; we reiterate our 'BUY' rating,' Nuvama said. Nuvama Projection On New Energy Sector Brokerage has made some predictions on PAT from the New Energy segment (modules plus power) rising from Rs 20 billion in FY27E to Rs 114 billion by FY30E, implying a 140% CAGR over FY26–30E. 'On our conservative assumptions, the New Energy share in PAT is expected to rise to 9% by FY30E. A faster ramp-up in capacity additions and utilisation could fuel more potential upside than our current numbers indicate. We believe additional businesses in the New Energy segment will also start contributing in a phased manner. This should enable RIL to meet its target of increasing PAT contribution from the New Energy segment to over 50% by 2030, as announced during the AGM in 2024,' it said.
Economic Times
01-07-2025
- Business
- Economic Times
Solar a Jio moment for Mukesh Ambani? Reliance shares get highest target price
Betting that the production of solar modules could trigger a re-rating similar to what occurred in 2017 after the launch of Reliance Jio, domestic brokerage firm Nuvama has issued the highest target price of Rs 1,801 for Reliance Industries (RIL). ADVERTISEMENT At its recent analyst meet, RIL announced the start of its first line of HJT module manufacturing facility with a capacity of 1 GW, which can be scaled up in phases to a fully integrated 10 GW by early CY26. Nuvama's channel checks with key industry participants reveal that RIL has offered to sell its HJT modules in the lucrative domestic market, as the rollout of its power generation business is still some time away. 'RIL's modules business (20 GW capacity) yields an EV of $20 billion, which could trigger a valuation re-rating for RIL, similar to the trend seen post-RJIO's launch in 2017. RIL's New Energy rollout will not only add over 50% to PAT but also re-rate valuations, including the O2C business, given its net-zero carbon target by 2035,' Nuvama analysts Jal Irani and others said in a note.O2C is currently RIL's largest profit base, contributing two-fifths of EBITDA and more than half of attributable PAT. In addition to integrated solar facilities, RIL plans to set up a 30 GWh battery facility. Green hydrogen and electrolyser manufacturing are on track, with the company announcing a technology tie-up with Nel ASA. The company also aims to set up 55 CBG plants. Also Read | Reliance Industries shares at inflection point. 6 reasons why FY26 could be the year of big re-rating ADVERTISEMENT 'Accordingly, watch out for the upcoming AGM in August/September. We are raising the SOTP-based target price to Rs 1,801—the highest on the Street—to factor in the potential for higher-than-expected module profits; we reiterate our 'BUY' rating,' Nuvama done by the brokerage show PAT from the New Energy segment (modules plus power) rising from Rs 20 billion in FY27E to Rs 114 billion by FY30E, implying a 140% CAGR over FY26–30E. ADVERTISEMENT 'On our conservative assumptions, the New Energy share in PAT is expected to rise to 9% by FY30E. A faster ramp-up in capacity additions and utilisation could fuel more potential upside than our current numbers indicate. We believe additional businesses in the New Energy segment will also start contributing in a phased manner. This should enable RIL to meet its target of increasing PAT contribution from the New Energy segment to over 50% by 2030, as announced during the AGM in 2024,' it note also drew comparisons with Waaree Energies and Premier, whose EVs stand at around $10 billion and $6 billion, respectively. ADVERTISEMENT RIL's 20 GW fully integrated solar equipment manufacturing facility could potentially translate into a much higher and Premier are trading at 14x and 15x FY27E EV/EBITDA multiples, respectively. Ascribing a 15x EV/EBITDA multiple to RIL's modules business (20 GW capacity) yields an EV of $20 billion, which could trigger a valuation re-rating for RIL's stock—similar to the trend seen after RJIO's launch in 2017. RIL's New Energy rollout is expected not only to add over 50% to PAT but also to re-rate valuations across the business, including the O2C segment, given its net zero-carbon target by 2035, the brokerage said. RIL shares were trading 1.25% higher at Rs 1,519 on the BSE and are up over 24% so far in the calendar year 2025. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
01-07-2025
- Business
- Time of India
Solar a Jio moment for Mukesh Ambani? Reliance shares get highest target price
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Betting that the production of solar modules could trigger a re-rating similar to what occurred in 2017 after the launch of Reliance Jio, domestic brokerage firm Nuvama has issued the highest target price of Rs 1,801 for Reliance Industries (RIL).At its recent analyst meet, RIL announced the start of its first line of HJT module manufacturing facility with a capacity of 1 GW, which can be scaled up in phases to a fully integrated 10 GW by early channel checks with key industry participants reveal that RIL has offered to sell its HJT modules in the lucrative domestic market, as the rollout of its power generation business is still some time away.'RIL's modules business (20 GW capacity) yields an EV of $20 billion, which could trigger a valuation re-rating for RIL, similar to the trend seen post-RJIO's launch in 2017. RIL's New Energy rollout will not only add over 50% to PAT but also re-rate valuations, including the O2C business, given its net-zero carbon target by 2035,' Nuvama analysts Jal Irani and others said in a note.O2C is currently RIL's largest profit base, contributing two-fifths of EBITDA and more than half of attributable PAT. In addition to integrated solar facilities, RIL plans to set up a 30 GWh battery facility. Green hydrogen and electrolyser manufacturing are on track, with the company announcing a technology tie-up with Nel ASA. The company also aims to set up 55 CBG plants.'Accordingly, watch out for the upcoming AGM in August/September. We are raising the SOTP-based target price to Rs 1,801—the highest on the Street—to factor in the potential for higher-than-expected module profits; we reiterate our 'BUY' rating,' Nuvama done by the brokerage show PAT from the New Energy segment (modules plus power) rising from Rs 20 billion in FY27E to Rs 114 billion by FY30E, implying a 140% CAGR over FY26–30E.'On our conservative assumptions, the New Energy share in PAT is expected to rise to 9% by FY30E. A faster ramp-up in capacity additions and utilisation could fuel more potential upside than our current numbers indicate. We believe additional businesses in the New Energy segment will also start contributing in a phased manner. This should enable RIL to meet its target of increasing PAT contribution from the New Energy segment to over 50% by 2030, as announced during the AGM in 2024,' it note also drew comparisons with Waaree Energies and Premier, whose EVs stand at around $10 billion and $6 billion, 20 GW fully integrated solar equipment manufacturing facility could potentially translate into a much higher and Premier are trading at 14x and 15x FY27E EV/EBITDA multiples, respectively. Ascribing a 15x EV/EBITDA multiple to RIL's modules business (20 GW capacity) yields an EV of $20 billion, which could trigger a valuation re-rating for RIL's stock—similar to the trend seen after RJIO's launch in 2017. RIL's New Energy rollout is expected not only to add over 50% to PAT but also to re-rate valuations across the business, including the O2C segment, given its net zero-carbon target by 2035, the brokerage said. RIL shares were trading 1.25% higher at Rs 1,519 on the BSE and are up over 24% so far in the calendar year 2025.
