Export Volume of Encapsulation Film in October Down 9% MoM, with Stronger Demand in the Polish and US Markets [SMM Analysis]

Published: Dec 29, 2024 23:28

Save

According to customs data, film exports in November reached 3,890.67 mt, up 34.19% MoM but down 24.5% YoY. In November, Indonesia became the largest export market, accounting for 21.17% of the export volume. Indonesia's manufacturing capacity has significantly increased, with an annual potential to add 200,000 mt of polysilicon, 11 GW of silicon wafers, 17 GW of solar cells, and 19 GW of module capacity...

According to customs data, the export volume of encapsulation films in October was 3,890.66 mt, up 34.19% MoM but down 24.5% YoY.

In terms of export volume by country/region in November, the top export destinations were Indonesia (21.17%), Poland (17.97%), Russia (9.09%), South Korea (8.27%), Laos (7.69%), the UAE (5.95%), Turkey (3.43%), and the US (2.63%).

In November, Indonesia became the largest export market, accounting for 21.17% of the export volume. With significant foreign investment inflows and strategic initiatives, Indonesia's manufacturing capacity has seen remarkable growth, with an annual capacity expected to increase by 200,000 mt of polysilicon, 11 GW of wafers, 17 GW of solar cells, and 19 GW of modules. Under the rapid expansion of the global PV market, Indonesia is forecast to become the world's fourth-largest economy by 2050, attracting investments from international companies such as Thornova Solar and Gstar, which have established large-scale production facilities.

Indonesia has abundant solar energy resources, yet its current PV installed capacity is only 717.71 MW, far from meeting global climate targets. Despite large-scale projects like the Cirata floating PV project and 17 GW of PV projects under development, Indonesia's power generation potential remains underutilized.

The government has planned to phase out coal-fired power and achieve 75 GW of renewable energy installed capacity by 2040, with PV as the core pillar. However, to take a leading role in the global energy transition, Indonesia still needs to accelerate the deployment and implementation of PV power generation, thereby transforming from a major PV manufacturer into a global energy powerhouse.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

12 hours ago

China Approves 17.44 GW Power Plan for Qaidam Desert Base, Including Solar, Wind, and Energy Storage Projects

It is understood that the National Energy Administration has officially approved the power source allocation plan for the "Qaidam Desert Base (East Golmud) Base". The planned construction scale of the power source projects at this base is 17.44 million kilowatts, including 10 million kilowatts of photovoltaic power, 5 million kilowatts of wind power, 2.64 million kilowatts of coal-fired power, 0.1 million kilowatts of solar thermal power, and 1.5 million kilowatts (for 4 hours) of electrochemical energy storage. The total investment in the projects is about 86 billion yuan. The new energy will be transmitted to Guangxi through the "Qinghai-Guangxi DC" UHV power transmission project. Currently, significant progress has been made in the preliminary work of the "Qinghai-Guangxi DC" project, w

12 hours ago

Feb 6, 2026 09:17

[SMM PV News] Armenia Hits 1.1 GW Solar Capacity,

Armenia’s cumulative solar capacity has surged to 1.1 GW following the addition of approximately 615 MW in 2025. This rapid expansion has pushed solar's share of electricity generation to around 15%, effectively meeting the country's 2030 target years ahead of schedule. The growth is heavily driven by a net-metering scheme supporting over 50,000 autonomous producers (totaling 650 MW), though the government ended loan subsidies for rooftop solar in July to shift focus toward battery storage.

Feb 6, 2026 09:17

Feb 5, 2026 17:36

Spot Market and Domestic Inventory Brief Review (February 5, 2026) [SMM Silver Market Weekly Review]

Feb 5, 2026 17:36