Polymer Solar Cells Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Polymer Solar Cells Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 8,346.5Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.2% and is expected to reach a valuation of US$ 13,856.8Mn 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. Several benefits are available when comparing polymer solar cells to crystalline silicon solar PV cells. Polymer solar PV cells are lightweight, disposable, and simple to make.
They enable tremendous levels of molecular customization and little environmental impact. Compared to crystalline silicon PV cells, polymer solar cells are used in many more applications. Due to the flexibility of polymer solar PV cells, they can be used in windows, walls, flexible electronics, clothing, and other wearables.
ChemView Consulting has analyzed that the market for polymer solar cells is driven by the expanding solar panel market and solar panels’ lower cost of electricity generation 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.
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According to the 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.
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)
Key Takeaways from the Polymer Solar Cells Market
- Based on the 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.
- Based on the region, 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%.
Competition Summary
Key companies covered in the market study 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
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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 impact 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 collaborated 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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