BEIJING: Asia surpassed Europe as the largest export market for Chinese solar products in the first half of this year, according to the China Photovoltaic (PV) Industry Association (CPIA).

Solar modules, which took up 87% of total solar product exports in terms of value, saw significant growth in new markets.

Pakistan became the second-largest market for Chinese module exports with its share rising to 8.9% in the first half from the 3.3% level during the same period of last year.

Saudi Arabia, which did not make it to the Top 10 markets during the period last year, ranked fifth this year, according to the trade body.

European and Asian markets together accounted for over 80% of total module exports.

“In the first six months, major global PV markets such as the United States, Europe, India, Brazil and South Africa rolled out policies that increased barriers of PV product trade, restricting the direct export of relevant Chinese products,” said Wang Bohua, honorary chairman of the CPIA.

“Chinese companies’ overseas production capacities also began to face trade barrier issues, such as the United States halting the ‘anti-circumvention’ tariff exemption on four South-East Asian countries where Chinese PV companies have production sites,” said Wang.

In the first half, export volumes of silicon wafers, cells and modules grew by 34.5%, 32.1% and 19.7% year-on-year, respectively.

However, the total export value of China’s PV products, including silicon wafers, cells and modules, was about US$18.67bil, down 35.4% year-on-year.

“Despite the substantial challenges in overseas markets, there are still numerous opportunities for Chinese solar companies. We are optimistic that in 2024, global newly installed capacity will range between 390 gigawatts and 430 gigawatts (GW), providing considerable market space for Chinese solar products abroad.

“Not only are major markets like the United States, Europe, India and Brazil rapidly growing in installed capacity, but emerging markets in Latin America and the Middle East are also developing swiftly,” Wang added.

 - China Daily