Organic Solar Cell Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Organic Solar Cell Market grew at a CAGR of 11.6% between 2017-2021 and is estimated to be US$ 97.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 14.5% and is expected to reach a valuation of US$ 376.1 Mn by 2032 end.
OPV cells, which offer long-term performance and improved efficiency, have emerged as a potential PV technology. Additionally, soluble organic compounds enable roll-to-roll manufacturing and are effective in low-light environments.
ChemView Consulting has analyzed that Organic solar cells are the most popular and cost-effective alternative to conventional solar cells. The demand is growing, thanks to their numerous advantages over conventional solar cells. In the future years, this aspect is expected to contribute to the growth of the global organic solar cell market (organic photovoltaic technology market) and be widely used by individuals and businesses alike.
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Segments Covered in Report
By Type:
- Organic photovoltaic cells
- Bilayer Membrane Heterojunction
- Schottky Type
- Others
By Material :
- Polymers
- Small Molecules
By Application:
- Building Integrated Photovoltaic (BIPV)
- Portable Electronics
- Defense Application
- Conventional Solar
- Others
By End User :
- Commercial
- Industrial
- Residential
- Others
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)
Key Takeaways from the Organic Solar Cell Market
- Based on the type, Organic photovoltaic cells have the potential to produce electricity at a lower cost per unit of energy compared to silicon-based cells. The use of organic solar cells could potentially cut carbon emissions, but they are mechanically weaker and less efficient than their inorganic counterparts.
- Based on the application, The Building Integrated Photovoltaic (BIPV) market was expected to dominate the building integrated photovoltaic (BIPV) segment shortly. Organic photovoltaic cells had the highest revenue share, with 55.0% of the market. Pumped hydro energy storage technology and superior levels of efficiency are anticipated to enhance renewable installations, thereby boosting the BIPV installations over the forecast period.
- Based on Region, , the Europe market held a sizeable revenue share of 34.6%. The region relies heavily on oil and natural gas, so it must rely more on renewable energy sources such as hydroelectric plants, wind farms, and solar power plants until alternative fuels are in place due to climate change.
Competition Summary
Key companies covered in the market study are Heliatek, ARMOR, infinityPV ApS, Solarmer Energy, Inc., NanoFlex Power Corporation, Optodot, Eni, New Energy Technologies Inc., Novaled GmbH, and Brite Solar.
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Report Key Highlights and Coverage
- 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.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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