Polymer Solar Cells Market

Polymer Solar Cells Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Polymer Solar Cells Market grew at a CAGR of 14.8% between 2017-2021 and is estimated to be US$ 149.8Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 16.7% and is expected to reach a valuation of US$ 701.8Mn by 2032 end.

Due to the high manufacturing costs and intricate production process of polymer solar cells, there has been an increase in the demand for various alternative technologies. Comparing polymer solar cells to crystalline silicon solar PV cells, several benefits are available. Polymer solar PV cells are lightweight, disposable, and simple to make.

They enable tremendous levels of molecular customisation and little environmental impact. Compared to crystalline silicon PV cells, polymer solar cells are used in a lot more applications. Due to the flexibility of polymer solar PV cells, they can be used in windows, walls, flexible electronics, clothing, and other wearables.

Market Dynamic

THE RISING MARKET OF SOLAR PANELS AND THE COST EFFICIENCY OF SOLAR PANELS ARE DRIVING THE MARKET

The market for polymer solar cells is being driven by the expanding solar panel market and solar panels’ lower cost of electricity generation as compared to other energy sources. The need for polymer solar cells is expanding due in part to their increased efficiency and shorter production times compared to other electricity generation technologies. Additionally, the demand for eco-friendly products is growing, supporting the polymer solar cell market.

DISADVANTAGES OF THIS TECHNOLOGY

Contrary to photovoltaics based on inorganic silicon semiconductors, this technology has some drawbacks, such as its degradation in low light and darkness. Compared to their silicon counterparts, polymer solar cells have challenges with stability and efficiency. These elements may slow the market’s expansion for polymer solar cells.

Market Segments Covered in Report

By Junction Type:

• Single Layer
• Bilayer
• Bulk Heterojunction
• Multi-junction
• Others

By Application:

• BIPV (Building Integrated Photovoltaic)
• Consumer Electronics
• Automotive
• Defense and Emergency
• Others

By Technique:

• Printing Technique
• Coating Technique

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why does the demand for polymer solar cells in the BIPV segment increase substantially in the coming years?

According to application, the BIPV category is anticipated to develop at the fastest rate, registering a CAGR of 23.3% throughout the evaluation period. Since 2012, this market sector has dominated the global market, and by the end of 2032, it is predicted to continue to do so thanks to a high market value of roughly US$ 143 Mn.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• Due to the rising number of renewable energy projects, the expansion of the wearable solar electronics market, and the region’s rising demand for electricity, Asia Pacific currently accounts for a significant portion of the global market for solar cells, with a market share of 43.7%.
• Many renewable energy projects and the quick expansion of the power sector in the region have made North America the leading manufacturer of polymer solar PV cells.

Competition Analysis

The market for Polymer Solar Cells is highly competitive, with the top players continuously adding to and modernizing their product lines. Additionally, to gain a competitive edge in the market, they have implemented various organic and inorganic growth strategies, including alliances, collaborations, price reductions, acquisitions, and the construction of new facilities.

The key developments in the Global Polymer Solar Cells Market:

• In July 2019, a solar cell with a record-high level of radiation stability was demonstrated by researchers at Russia’s Skoltech Institute of Science and Technology. To research how space radiation affects organic solar cells, a Russian scientist has launched one into low-earth orbit.
• In May 2018, in The Journal of Physical Chemistry Letters (ACS), a group of researchers from Osaka University described how they had automated the search for suitable solar materials to create novel polymers for organic photovoltaics (solar cells).

A list of some of the key suppliers present in the market are:

• Tata Power Solar Systems Limited
• Trina Solar Limited
• SolarWorld AG
• Suniva Inc
• JinkoSolar Holding Co. Ltd
• Pionis Energy Technologies LLC
• Alps Technology Inc
• Borg Inc
• Itek Energy

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.