Going against the grain of many of the companies in the technology sector, DuPont has released an optimistic projection of the company’s revenues for the next three years. The company anticipates a near-tripling of its annual sales to more than $1 billion in 2012, fuelled by production capacity, an increased focus on R&D and investment in PV materials.
The company’s presentation, from which this projection was taken, claimed that the global PV industry will experience double-digit growth over the next few years, expanding from a market size of $30 billion to $70 billion in 2013.
DuPont feels that its position in the market is ideal for taking advantage of increased demand for existing and new materials that are more cost effective. The company has, in the past year, made large investments in product development and capacity expansions for brands such as its Tedlar polyvinyl fluoride (PVF) films and Solamet thick-film metallization pastes.
David B. Miller, Group Vice President of DuPont Electronic and Communication Technologies, commented on the projections. “Photovoltaic technology is in its infancy and the opportunities in this market are extensive. DuPont is uniquely positioned to bring new, advanced technologies for future growth in traditional crystalline silicon and emerging thin film photovoltaic segments. We also are investing in greater production capability to help keep pace with the fast rising global demand.”