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Government Impetus to Energize Indian Market for Chemicals and Materials Used in Photovoltaics Finds Frost & Sullivan - JNNSM scheme and directives related to indigenization of solar cells and modules to create lucrative opportunities - Chemicals.Frost.com
Government Impetus to Energize Indian Market for Chemicals and Materials Used in Photovoltaics Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Mumbai, India, 2013/03/13 - JNNSM scheme and directives related to indigenization of solar cells and modules to create lucrative opportunities - Chemicals.Frost.com.

   
 
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The implementation of the Jawaharlal Nehru National Solar Mission (JNNSM) by the Government of India (GoI) is driving growth in the solar industry, specifically, the manufacturing of cells and modules. This will drive growth in related upstream chemicals and materials markets.

New analysis from Frost & Sullivan (chemicals.frost.com), Strategic Insight on the Indian Market for Chemicals and Materials Used in Photovoltaics, finds that the market was worth $1.05 billion in 2012 and estimates this to reach $2.05 billion in 2015. The research covers chemicals and materials used to manufacture solar cells (polysilicon, metal paste and wet process chemicals) and solar modules (frontsheet, backsheet and encapsulants).

"With high peak power deficit, erratic crude oil prices, coal shortages and uncertainty of nuclear power, renewable energy sources such as solar power will be the future of sustainable power generation," noted Frost & Sullivan Analyst. "New opportunities to explore in the market for chemicals and materials used in solar cells and modules are presented with the JNNSM mandating indigenization of solar cells and modules."

JNNSM aims to develop 20,000 MW of grid-connected solar power by 2022. Additionally, plans to promote India as a manufacturing hub for solar products with mandatory indigenization of solar cells and modules are being implemented. The scheme offers new opportunities to invest in the market for chemicals and materials used in the manufacture of solar products in India. The demand for chemicals and materials used in solar cells and modules is estimated to grow at a CAGR of 22.2 percent till 2015, with the growth for module components estimated at over 25 percent CAGR for the same time period.

With government mandates on indigenization and benefits such as competitive price and quicker lead times, there is a strong case supporting local manufacture of chemicals and materials used in solar photovoltaic products.

While the market is poised for growth, a key challenge remains low-cost imports of finished cells and modules from China. Backed by state-sponsored loans by the Chinese government, Chinese companies have rapidly built large-scale manufacturing units for cells/modules and other components at lower production costs. This, coupled with monopolized access to certain critical raw materials, such as fluorspar that is used in the manufacture of backsheets, offers an advantageous position to Chinese companies that threaten closure of competitors even in developed economies.

"Investment in products, such as encapsulants that benefit from smaller lead times, backed by government support through JNNSM will aid in overcoming competition from China," advised the analyst. "Continuous innovation to reduce costs and upgrade efficiency will further sustain market expansion."

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Ravinder Kaur / Priya George, Corporate Communications, at ravinder.kaur[.]frost.com / priyag[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by e-mail.

Strategic Insight on the Indian Market for Chemicals and Materials Used in Photovoltaics is part of the Chemicals & Materials Growth Partnership Service program. Frost & Sullivan’s related research services include: Indian Solar Photovoltaic Market and Electronic Chemicals Market in India. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Strategic Insight on the Indian Market for Chemicals and Materials Used in Photovoltaics / P5C6-39

Media Contact:
Nimisha Iyer - Corporate Communications South Asia, Middle East & North Africa
M: +91 98200 50519 / P: +91 22 6607 2004 - E: niyer[.]frost.com.

 
 
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Government Impetus to Energize Indian Market for Chemicals and Materials Used in Photovoltaics Finds Frost & Sullivan

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Contact: Ravinder Kaur / Priya George 
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