The global polymer solar cells market, valued at USD 34.5 million in 2016, is projected to reach USD 296.3 million by 2027, with a robust compound annual growth rate (CAGR) of 21.5% during the forecast period.
The report tracks key market dynamics, including drivers, restraints, trends, and challenges that will shape the polymer solar cells market over the next decade. The study also provides a comprehensive analysis of the global photovoltaic solar cells market and offers a detailed breakdown of the polymer solar cells market across regions including North America, Western Europe, Eastern Europe, APEJ (Asia Pacific excluding Japan), Latin America, Japan, and MEA (Middle East and Africa).
Key factors contributing to this growth include the expanding electronics and electrical industry, increasing demand for renewable energy sources, government support, and the rise in green building construction. Furthermore, advancements in polymer solar cell manufacturing, improved energy payback time, and new developments in materials to enhance performance and reduce energy loss are expected to drive market expansion.
However, the market also faces challenges such as high dependence on fossil fuels, fluctuations in oil and gas prices, lower power conversion capacity compared to other energy sources, and the relatively short lifespan of organic solar cells.
Global Polymer Solar Cells Market: Key Drivers and Challenges
The growth of the global polymer solar cells market is primarily driven by the expansion of the electronics and electrical industries, rising demand for renewable energy, and increasing government support and initiatives. Additionally, the growth of green building construction and the expanding automobile and construction sectors further contribute to the market’s momentum. Key trends positively impacting market growth include advancements in polymer solar cell manufacturing techniques, which reduce costs and improve performance, the development of new electronic devices, and improvements in energy payback time, both financially and energetically. Innovations in materials aim to make photovoltaics a stronger alternative to organic fuels, while the development of new plastic solar cells is working to minimize energy loss and extend the lifespan of organic solar photovoltaic cells.
Despite these driving factors, the polymer solar cells market faces several challenges. These include the ongoing reliance on fossil fuels, fluctuations in oil and gas prices, lower power conversion efficiency compared to other energy sources, over-reliance on hydroelectric power, limited stability and strength, availability of competing technologies, and the relatively short operational lifespan of organic solar cells, all of which could hinder market growth.
Global Polymer Solar Cells Market: Competition Analysis
The global polymer solar cells market has included several key players involved in the manufacturing and supply of polymer solar cells. The report has profiled companies such as Heliatek GmbH, InfinityPV ApS, BELECTRIC OPV GmbH (OPVIUS GmbH), SUNEW, Solarmer Energy, Inc., Armor Group, Solvay S.A., Eight19 Ltd., SolarWindow Technologies, Inc., and Raynergy Tek Incorporation.
Key Players:
- Sonoco Products Company
- CPPC Public Co., Ltd
- Advanced Paper Tube, Inc.
- YAZOO MILLS Inc.
- Eerste Nederlandse Rondkartonnagefabriek B.V. (ENR)
- Smurfit Kappa Group
- Kunert Group
Market Segmentation
By Junction Type:
- Single Layer
- Bilayer
- Bulk Heterojunction
- Multi-junction
- Others
By Application:
- BIPV (Building Integrated Photovoltaic)
- Consumer Electronics
- Automotive
- Defence and Emergency
- Others
By Technique:
- Printing Technique
- Coating Technique
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- APEJ
- Japan
- MEA
Report Preview: https://www.futuremarketinsights.com/reports/polymer-solar-cells-market
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