Global Organic Solar Cell (OPV) Market, By Type (Bilayer Membrane Heterojunction, Schottky Type, Others), Material (Polymers, Small Molecules), Application (BIPV & Architecture, Consumer Electronics, Wearable Devices, Automotive, Military & Device, Others), Physical Size (More than 140*100 mm square, less than 140*100 mm square), End-User (Commercial, Industrial, Residential, Others) – Industry Trends and Forecast to 2029.
Organic Solar Cell (OPV) Market Analysis and Size
In contrast to crystalline silicon solar cells, which are made of materials that can be dissolved in ink and printed onto plastics, organic solar cells can also be referred to as plastic solar cells or polymer solar cells. These characteristics, along with others, give organic solar cells their flexibility, light weight, and ease of incorporation into various environments.
Global organic solar cell (OPV) market was valued at USD 116.91 million in 2021 and is expected to reach USD 473.31 million by 2029, registering a CAGR of 19.10% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Organic Solar Cell (OPV) Market Scope and Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Million, Volumes in Units, Pricing in USD
Type (Bilayer Membrane Heterojunction, Schottky Type, Others), Material (Polymers, Small Molecules), Application (BIPV & Architecture, Consumer Electronics, Wearable Devices, Automotive, Military & Device, Others), Physical Size (More than 140*100 mm square, Less than 140*100 mm square), End-User (Commercial, Industrial, Residential, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Heliatek GmbH (Germany), ARMOR (Germany), infinityPV ApS (Denmark), Novaled GmbH. (Germany), SUNEW (Brazil), NanoFlex Power Corporation. (U.S.), MORESCO Corporation (Japan), Alfa Aesar (U.S.), Ningbo Polycrown Solar Tech Co, Ltd (China), SHIFENG TECHNOLOGY CO., LTD. (Taiwan), Solaris Chem Inc. (Canada), Epishine (Sweden), TOSHIBA CORPORATION (Japan), Tokyo Chemical Industry Co., Ltd. (Japan), and ENI S.p.A. (Italy) among many others
Organic solar cells, also known as organic photovoltaics, are multilayer photovoltaic devices that can convert solar energy into electrical current. Instead of using silicon as a semiconductor, an organic solar cell is created using carbon-based materials and organic electronics.
Organic Solar Cell (OPV) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- The trend of eco-friendly photovoltaic technology globally
The need for environmentally friendly solar technology is increasing, which is good news for the organic photovoltaic business. Organic solar cells have an edge over their conventional counterparts as they can be made into many shapes and colors. Therefore, they are the best option for applications that prioritize flexibility and design over efficiency. Furthermore, growth is being boosted by subsidies and tax breaks offered by different governments.
- Increased focus on renewable energy
Companies are using software as a service to outsource their business processes to a third party company so they may concentrate on their core strengths. This will result in reducing the handling and maintenance costs for the organizations is bolstering the growth rate of the market in a sharp upward direction. This further results in reducing the costs associated with procurement operations and streamline procurement processes
Furthermore, the factors such as rising urbanization, industrialization and mounting need to achieve benchmarking during the forecast period are other important market drivers. Additionally, the need to manage compliance policies and agreements in combination with rising availability of raw materials are anticipated to drive the market's growth rate.
- Rising energy demands
Worldwide population growth, rapid industry, and urbanization create a demand for a sufficient supply of electricity. The use of renewable energy sources in the production of energy is a priority for many governments. Players in the market are looking for ways to meet the increased demand for organic solar cells from consumers throughout the world. The market for organic solar cells is growing as a result of developments in photovoltaic technology and the expansion of solar power facilities in developing nations.
- Growth in the number of environmental concerns
The market has seen a huge increase in demand for cleaner energy sources as substitutes for carbon-based fuels ever since it was discovered that the impacts of global climate change are not a hoax. The demand for effective solar energy systems, such as organic solar cells, is anticipated to experience significant market expansion in demand and manufacture because solar energy is a clean and effective alternative to carbon fuels. To sum up, the worldwide organic solar cell (OPV) market appears to be glistening with opportunities and growth as the industry's need for alternative fuel sources and environmental concerns rise.
- Low mechanical stability and strength
Organic photovoltaic cells are inexpensive and simple to produce, but they lack the stability and mechanical robustness of inorganic solar cells like silicon-based solar cells. According to statistical data, the efficiency of organic photovoltaic cells typically ranges between 11% and 20%, whereas the same is true for inorganic photovoltaic cells. The difference in overall efficiency between organic and inorganic photovoltaic cells due to weaker stability and mechanical strength tends to influence and restrain the global organic cell (OPV) market because solar panel efficiency is a key market criterion.
- Lack of technical expertise
Dearth of expert knowledge and technical expertise and lack of awareness especially in the underdeveloped economies will create hurdles for the market in regards to the smooth growth in the market value. Further, lack of skilled professionals in data science in combination with slow adoption rate in the developing economies will yet again hamper the market growth rate.
This organic solar cell (OPV) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the organic solar cell (OPV) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Organic Solar Cell (OPV) Market
The coronavirus pandemic significantly negatively influences the market for organic solar cells globally, as well as other industries and production processes. The value chain disruption hampered the entire production of solar cells, which caused significant losses for producers competing in the worldwide market for organic solar cells. The total market growth has been hindered by a lack of labor, stringent limitations brought on by the global shutdown, and a lack of supplies. However, market participants are stepping up their efforts to make up for losses incurred as a result of the COVID-19 epidemic and are looking for new options to address market difficulties. The market for organic solar cells is being driven by rising initiatives taken by market participants to expand their product offerings.
- In collaboration with Looop Inc. and Ritsumeikan University, Heliatek GmbH announced in November 2020 that their OPV product installation for its first project in Japan would take place. In the Shiga Prefecture (next to Kyto), the business put its HeliaSol (prototype) solar films at a bus stop on the Biwako-Kusatsu Campus of the University. In keeping with Japan's efforts to utilise clean and renewable energy, this project. This improved the company's presence on the international market.
Organic Solar Cell (OPV) Market Scope
The organic solar cell (OPV) market is segmented on the basis of type, material, application, physical size and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Bilayer Membrane Heterojunction
- Schottky Type
- Small Molecules
- BIPV & Architecture
- Consumer Electronics
- Wearable Devices
- Military & Device
- More than 140*100 mm square
- Less than 140*100 mm square
Organic Solar Cell (OPV) Market Regional Analysis/Insights
The organic solar cell (OPV) market is analyzed and market size insights and trends are provided by country, type, material, application, physical size and end-user as referenced above.
The countries covered in the organic solar cell (OPV) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the organic solar cell (OPV) market due to the presence of some of the main producers of organic solar cells in the region. For instance, in Germany, businesses like BASF SE and Heliatek GmbH are excelling in the production of organic solar cells.
Asia-Pacific region is showing a promising potential and is set to grow with the highest growth rate during the forecast period. The regional market is also being stimulated by government tax breaks and subsidies to producers and purchasers of solar power equipment. Due to the existence of several major organic solar cell producers in Japan, the market for organic solar cells in Asia Pacific is expanding.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Organic Solar Cell (OPV) Market Share Analysis
The organic solar cell (OPV) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to organic solar cell (OPV) market.
Some of the major players operating in the organic solar cell (OPV) market are
- Heliatek GmbH (Germany)
- ARMOR (Germany)
- infinityPV ApS (Denmark)
- Novaled GmbH. (Germany)
- SUNEW (Brazil)
- NanoFlex Power Corporation. (U.S.)
- MORESCO Corporation (Japan)
- Alfa Aesar (U.S.)
- Ningbo Polycrown Solar Tech Co, Ltd (China)
- SHIFENG TECHNOLOGY CO., LTD. (Taiwan)
- Solaris Chem Inc. (Canada)
- Epishine (Sweden)
- TOSHIBA CORPORATION (Japan)
- Tokyo Chemical Industry Co., Ltd. (Japan)
- ENI S.p.A. (Italy)