Market Overview
The global Organic solar cells (OPV) Market is expected to grow at a CAGR of more than 25% during the forecast period. The rising awareness about the environmental benefits of organic solar cells and the declining cost of these cells are some of the major factors driving the growth of this market. Moreover, the increasing demand for renewable energy sources is also contributing to market growth.
However, the high initial cost of these cells is restraining the market growth to a certain extent. Also, the limited efficiency of organic solar cells as compared to conventional silicon solar cells is another challenge faced by this market. Nevertheless, continuous research and development activities are expected to provide new opportunities for market players in the coming years.
Organic solar cells (OPVs) are a type of solar cell that uses organic materials to convert sunlight into electricity. They are made of thin layers of organic semiconductors, which are deposited on a substrate. The active layer of an OPV cell is only a few hundred nanometers thick and can be made using solution-based processes such as inkjet printing, making them suitable for large-scale production.
Organic solar cells are made of organic materials and are used to convert sunlight into electrical energy. They are thin, lightweight, and flexible, and can be manufactured using low-cost processes. Organic solar cells have a higher power-to-weight ratio than conventional silicon solar cells and can be integrated into portable electronic devices.
The global organic solar cells market is expected to grow at a CAGR of 25% from 2022 to 2029. The market is driven by factors such as the increasing demand for renewable energy sources, the declining cost of organic solar cells, and government initiatives to promote the use of renewable energy. However, the efficiency of organic solar cells is lower than that of conventional silicon solar cells, which is restraining the growth of the market.
Market Dynamics
The rising investment in renewable energy, increasing government support, and the declining cost of organic solar cells are the key drivers for the growth of the market.
Organic solar cells are made of carbon-based materials, which are flexible, lightweight, and inexpensive as compared to conventional silicon-based solar cells. They can be manufactured on a large scale using roll-to-roll processes, which further reduces the cost. Moreover, they can be easily integrated into various applications such as consumer electronics, building-integrated photovoltaics (BIPV), and transportation.
The Asia-Pacific region is expected to be the major market for organic solar cells due to the growing demand from countries such as China, India, and Japan. The European Union is also one of the key markets for organic solar cells owing to the stringent government regulations regarding greenhouse gas emissions.
Covid-19 Impact on Organic solar cells (OPV) Market:
As around one-third of the global population is staying indoors owing to nationwide lockdown, stay-at-home orders, and restrictions on movement, the energy demand has sharply dipped. By the end of 2020, approximately, a decline in 5% of the energy demand was been recorded. Also, waning in corresponding gas and oil demands of 4% and 9%, respectively were registered in 2020. Currently, the energy market is at a historic low with surplus supplies. However, the situation is expected to ease up with a lift in lockdown restrictions and end-use industries start operating with great efficiencies.
Report Includes
An overview of the global Organic solar cells (OPV) market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Organic solar cells (OPV) market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Organic solar cells (OPV) market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Organic solar cells (OPV) market for components from 2022 through 2029
The Executive Summary provides a snapshot of key findings of the report. The introduction chapter includes research scope, market segmentation, research methodology, and definitions and assumptions. It involves extreme rigorous scientific methods, tools and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with the industry experts professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides a detailed insights of market which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
The global organic solar cells market is segmented by material type, end-use application, and geography. By material type, the market is divided into polymers, small molecules, and dyes. By end-use application, the market is classified into consumer electronics, automotive, military & aerospace, BIPV/building integrated photovoltaics, and others. Geographically, the market is analyzed across North America (U.S., Canada), Europe (Germany, UK), Asia Pacific (China, Japan, India ), Latin America (Brazil), and Middle East & Africa (Saudi Arabia, South Africa ).
The market is segmented by type into thin film, bulk heterojunction, and dye-sensitized solar cells. Among these, the thin film type held the largest market share in 2019 and is expected to grow at the highest CAGR during the forecast period. This can be attributed to their low weight and flexibility, which makes them suitable for various applications such as portable electronics, roll-up displays, automotive applications, and military applications.
Bulk heterojunction solar cells are made of an active layer consisting of a blend of donor and acceptor materials. These cells are efficient in conversion and have a long shelf life. Dye-sensitized solar cells consist of a photoactive layer comprising a semiconductor oxide coated with a light-absorbing dye. They offer high power conversion efficiency and are widely used in consumer electronics due to their low cost of production.
The market is segmented by application into residential, commercial, and industrial. The residential application segment is expected to grow at the highest CAGR during the forecast period due to the increasing awareness of solar energy among consumers and government support for solar power adoption. In addition, the declining cost of solar PV systems is further driving the growth of this segment.
The commercial application segment is expected to grow at a significant CAGR during the forecast period as businesses are increasingly adopting solar PV systems to reduce their energy costs. Solar PV systems help commercial establishments offset a portion of their electricity bill, which makes them an attractive option for businesses. Moreover, many countries are offering incentives and subsidies for businesses that install solar PV systems, which is fuelling the growth of this segment.
The industrial application segment is projected to grow at a moderate CAGR during the forecast period as industries are gradually adopting solar power to meet their energy needs. Solar power helps industries reduce their carbon footprint as well as operating costs. Furthermore, several countries have set targets for industries to increase their share of renewable energy consumption, which is driving the growth of this market segment
OPV technology is expected to find widespread use in thin-film applications due to the growing demand for energy-efficient and eco-friendly products. The rising popularity of portable electronic devices such as laptops, smartphones, and digital cameras is also driving the market growth. Moreover, OPV can be used in flexible applications such as roll-up displays and solar tents.
Global Organic solar cells (OPV) market Competitive Analysis:
Key players in the Global Organic solar cells (OPV) market are ARMOR Group, Heliatek, AGC, Belectric, Mitsubishi Chemical, Solarmer, CSEM Brasil, Henkel, Toshiba, Sumitomo Chemical, BASF Heraeus, EMD Performance Materials and among other players.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. The global Organic solar cells (OPV) market is distributed on the basis of the below-mentioned segments:
Global Organic solar cells (OPV) Market, By Product Type :
The global Organic solar cells (OPV) Market is expected to grow at a CAGR of more than 25% during the forecast period. The rising awareness about the environmental benefits of organic solar cells and the declining cost of these cells are some of the major factors driving the growth of this market. Moreover, the increasing demand for renewable energy sources is also contributing to market growth.
However, the high initial cost of these cells is restraining the market growth to a certain extent. Also, the limited efficiency of organic solar cells as compared to conventional silicon solar cells is another challenge faced by this market. Nevertheless, continuous research and development activities are expected to provide new opportunities for market players in the coming years.
Organic solar cells (OPVs) are a type of solar cell that uses organic materials to convert sunlight into electricity. They are made of thin layers of organic semiconductors, which are deposited on a substrate. The active layer of an OPV cell is only a few hundred nanometers thick and can be made using solution-based processes such as inkjet printing, making them suitable for large-scale production.
Organic solar cells are made of organic materials and are used to convert sunlight into electrical energy. They are thin, lightweight, and flexible, and can be manufactured using low-cost processes. Organic solar cells have a higher power-to-weight ratio than conventional silicon solar cells and can be integrated into portable electronic devices.
The global organic solar cells market is expected to grow at a CAGR of 25% from 2022 to 2029. The market is driven by factors such as the increasing demand for renewable energy sources, the declining cost of organic solar cells, and government initiatives to promote the use of renewable energy. However, the efficiency of organic solar cells is lower than that of conventional silicon solar cells, which is restraining the growth of the market.
Market Dynamics
The rising investment in renewable energy, increasing government support, and the declining cost of organic solar cells are the key drivers for the growth of the market.
Organic solar cells are made of carbon-based materials, which are flexible, lightweight, and inexpensive as compared to conventional silicon-based solar cells. They can be manufactured on a large scale using roll-to-roll processes, which further reduces the cost. Moreover, they can be easily integrated into various applications such as consumer electronics, building-integrated photovoltaics (BIPV), and transportation.
The Asia-Pacific region is expected to be the major market for organic solar cells due to the growing demand from countries such as China, India, and Japan. The European Union is also one of the key markets for organic solar cells owing to the stringent government regulations regarding greenhouse gas emissions.
Covid-19 Impact on Organic solar cells (OPV) Market:
As around one-third of the global population is staying indoors owing to nationwide lockdown, stay-at-home orders, and restrictions on movement, the energy demand has sharply dipped. By the end of 2020, approximately, a decline in 5% of the energy demand was been recorded. Also, waning in corresponding gas and oil demands of 4% and 9%, respectively were registered in 2020. Currently, the energy market is at a historic low with surplus supplies. However, the situation is expected to ease up with a lift in lockdown restrictions and end-use industries start operating with great efficiencies.
Report Includes
An overview of the global Organic solar cells (OPV) market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2029. It also includes breakdowns of the overall Organic solar cells (OPV) market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the Organic solar cells (OPV) market and comprehensive profiles of leading companies in the industry
Report Scope
The report forecasts the size of the Organic solar cells (OPV) market for components from 2022 through 2029
The Executive Summary provides a snapshot of key findings of the report. The introduction chapter includes research scope, market segmentation, research methodology, and definitions and assumptions. It involves extreme rigorous scientific methods, tools and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with the industry experts professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, latest technological advancement, regulatory landscape, SWOT analysis, and porters five forces analysis. This chapter provides a detailed insights of market which derives the market trends, changing phase of investments, scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, the data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Segmentation Analysis:
The global organic solar cells market is segmented by material type, end-use application, and geography. By material type, the market is divided into polymers, small molecules, and dyes. By end-use application, the market is classified into consumer electronics, automotive, military & aerospace, BIPV/building integrated photovoltaics, and others. Geographically, the market is analyzed across North America (U.S., Canada), Europe (Germany, UK), Asia Pacific (China, Japan, India ), Latin America (Brazil), and Middle East & Africa (Saudi Arabia, South Africa ).
The market is segmented by type into thin film, bulk heterojunction, and dye-sensitized solar cells. Among these, the thin film type held the largest market share in 2019 and is expected to grow at the highest CAGR during the forecast period. This can be attributed to their low weight and flexibility, which makes them suitable for various applications such as portable electronics, roll-up displays, automotive applications, and military applications.
Bulk heterojunction solar cells are made of an active layer consisting of a blend of donor and acceptor materials. These cells are efficient in conversion and have a long shelf life. Dye-sensitized solar cells consist of a photoactive layer comprising a semiconductor oxide coated with a light-absorbing dye. They offer high power conversion efficiency and are widely used in consumer electronics due to their low cost of production.
The market is segmented by application into residential, commercial, and industrial. The residential application segment is expected to grow at the highest CAGR during the forecast period due to the increasing awareness of solar energy among consumers and government support for solar power adoption. In addition, the declining cost of solar PV systems is further driving the growth of this segment.
The commercial application segment is expected to grow at a significant CAGR during the forecast period as businesses are increasingly adopting solar PV systems to reduce their energy costs. Solar PV systems help commercial establishments offset a portion of their electricity bill, which makes them an attractive option for businesses. Moreover, many countries are offering incentives and subsidies for businesses that install solar PV systems, which is fuelling the growth of this segment.
The industrial application segment is projected to grow at a moderate CAGR during the forecast period as industries are gradually adopting solar power to meet their energy needs. Solar power helps industries reduce their carbon footprint as well as operating costs. Furthermore, several countries have set targets for industries to increase their share of renewable energy consumption, which is driving the growth of this market segment
OPV technology is expected to find widespread use in thin-film applications due to the growing demand for energy-efficient and eco-friendly products. The rising popularity of portable electronic devices such as laptops, smartphones, and digital cameras is also driving the market growth. Moreover, OPV can be used in flexible applications such as roll-up displays and solar tents.
Global Organic solar cells (OPV) market Competitive Analysis:
Key players in the Global Organic solar cells (OPV) market are ARMOR Group, Heliatek, AGC, Belectric, Mitsubishi Chemical, Solarmer, CSEM Brasil, Henkel, Toshiba, Sumitomo Chemical, BASF Heraeus, EMD Performance Materials and among other players.
*All our reports are customizable as per customer requirements
This study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2029. The global Organic solar cells (OPV) market is distributed on the basis of the below-mentioned segments:
Global Organic solar cells (OPV) Market, By Product Type :
- Single layer structure
- Planar heterostructure
- Laminated structure
- Body phase heterostructure
- Others
- Personal mobile phone charger
- Wearable devices
- Architecture
- Electricity generation
- Others
- Direct Sales
- Distributor
- Others
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
Organic solar cells (OPV) MARKET STUDY GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2020-2027
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Organic solar cells (OPV) Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Segment 1
- 5.2.1. Sub-Segment 1
- 5.2.2. Sub-Segment 2
- 5.3. Market Analysis, Insights and Forecast – By Segment 2
- 5.3.1. Sub-Segment 1
- 5.3.2. Sub-Segment 2
- 5.3.3. Sub-Segment 3
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Segment 3
- 5.4.1. Sub-Segment 1
- 5.4.2. Sub-Segment 2
- 5.4.3. Sub-Segment 3
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East and Africa
6. North America Organic solar cells (OPV) Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Segment 1
- 6.2.1. Sub-Segment 1
- 6.2.2. Sub-Segment 2
- 6.3. Market Analysis, Insights and Forecast – By Segment 2
- 6.3.1. Sub-Segment 1
- 6.3.2. Sub-Segment 2
- 6.3.3. Sub-Segment 3
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Segment 3
- 6.4.1. Sub-Segment 1
- 6.4.2. Sub-Segment 2
- 6.4.3. Sub-Segment 3
- 6.4.4. Others
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Latin America Organic solar cells (OPV) Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Segment 1
- 7.2.1. Sub-Segment 1
- 7.2.2. Sub-Segment 2
- 7.3. Market Analysis, Insights and Forecast – By Segment 2
- 7.3.1. Sub-Segment 1
- 7.3.2. Sub-Segment 2
- 7.3.3. Sub-Segment 3
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Segment 3
- 7.4.1. Sub-Segment 1
- 7.4.2. Sub-Segment 2
- 7.4.3. Sub-Segment 3
- 7.4.4. Others
- 7.5. Insights and Forecast – By Country
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
8. Europe Organic solar cells (OPV) Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Segment 1
- 8.2.1. Sub-Segment 1
- 8.2.2. Sub-Segment 2
- 8.3. Market Analysis, Insights and Forecast – By Segment 2
- 8.3.1. Sub-Segment 1
- 8.3.2. Sub-Segment 2
- 8.3.3. Sub-Segment 3
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Segment 3
- 8.4.1. Sub-Segment 1
- 8.4.2. Sub-Segment 2
- 8.4.3. Sub-Segment 3
- 8.4.4. Others
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Rest of Europe
9. Asia Pacific Organic solar cells (OPV) Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Segment 1
- 9.2.1. Sub-Segment 1
- 9.2.2. Sub-Segment 2
- 9.3. Market Analysis, Insights and Forecast – By Segment 2
- 9.3.1. Sub-Segment 1
- 9.3.2. Sub-Segment 2
- 9.3.3. Sub-Segment 3
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Segment 3
- 9.4.1. Sub-Segment 1
- 9.4.2. Sub-Segment 2
- 9.4.3. Sub-Segment 3
- 9.4.4. Others
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. South East Asia
- 9.5.6. Rest of Asia Pacific
10. Middle East & Africa Organic solar cells (OPV) Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Segment 1
- 10.2.1. Sub-Segment 1
- 10.2.2. Sub-Segment 2
- 10.3. Market Analysis, Insights and Forecast – By Segment 2
- 10.3.1. Sub-Segment 1
- 10.3.2. Sub-Segment 2
- 10.3.3. Sub-Segment 3
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By Segment 3
- 10.4.1. Sub-Segment 1
- 10.4.2. Sub-Segment 2
- 10.4.3. Sub-Segment 3
- 10.4.4. Others
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.3.1. Company 1
- 11.3.1.1. Business Overview
- 11.3.1.2. Segment 1 & Service Offering
- 11.3.1.3. Overall Revenue
- 11.3.1.4. Geographic Presence
- 11.3.1.5. Recent Development
- 11.3.2. Company 2
- 11.3.3. Company 3
- 11.3.4. Company 4
- 11.3.5. Company 5
- 11.3.6. Company 6
- 11.3.7. Company 7
- 11.3.8. Company 8
- 11.3.9. Company 9
- 11.3.10. Company 10
- 11.3.11. Company 11
- 11.3.12. Company 12
- 11.3.1. Company 1
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
