Polymer Solar Cells Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

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Polymer Solar Cells Market Size

Polymer Solar Cells Market Forecast
Study Period: 2019 - 2028
Fastest Growing Market: Europe
Largest Market: Europe
CAGR: > 2.5 %

Major Players

Polymer Solar Cells Market Key Players

*Disclaimer: Major Players sorted in no particular order
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Polymer Solar Cells Market Analysis

The polymer solar cells market is expected to grow at a CAGR of around 2.5% during the forecast period of 2020-2025. The primary drivers for the market include the increasing deployment of solar energy, on account of supportive government initiatives and targets to incorporate renewable energy as a source for alternative energy and to reduce the global greenhouse gas (GHG) emission rate. However, the lower efficiency of the polymer solar cells as compared to silicon solar cells is expected to hinder the market growth during the forecasting period.

  • Technological advantages of polymer solar cells are likely to drive the market during the forecast period
  • With the targets to reduce greenhouse emissions in the coming years, countries across the globe are developing various technologies to mitigate climate change. The United States is expected to increase its solar energy share in the country’s electricity generation from 2% in 2018 to 20% in 2030. With rapid developments and technological advantages over silicon PV, polymer solar cells have the opportunity to replace existing silicon PV technology, primarily in developed nations where new technology adoption takes less time than the developing countries.
  • Owing to the deployment rate of polymer solar cells, Europe is expected to dominate the market during the forecast period.

Polymer Solar Cells Industry Segmentation

The polymer solar cells market report includes:

Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa

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Polymer Solar Cells Market Trends

This section covers the major market trends shaping the Polymer Solar Cells Market according to our research experts:

Technological Advancements to Drive the Market

  • Polymer solar cell, also called Organic Photovoltaic (OPV) are third-generation PV cells which use an organic polymer layer to convert light into electricity. Polymer solar cells are lightweight, flexible, customizable, and have a less adverse environmental impact.
  • In 2019, global solar PV technology has a total installed capacity of around 580 gigawatts (GW). With rapid emerging PV technology in recent years, the polymer solar cells achieved an efficiency of about 16% in 2019. In order to further increase efficiency, various organizations with different molecular structures are performing intensive research and are expected to penetrate into the solar PV market in the near future.
  • The polymer solar cells have few advantages over silicon solar cells, like lighter on weight, cheaper in cost, transparent and have a longer lifetime (greater than 5000 hrs), but due to its low energy conversion, efficient commercial applications are very much limited.
  • As per Solarmer Energy Inc, the present state of polymer solar cells is estimated to improve over time and technological improvement, which is expected to provide efficient polymer molecular structure and would lead the solar panel industry in the coming years.
Polymer Solar Cells Market Trends

Europe is Likely to Dominate the Market

  • Europe is one of the prominent regions, with around 138.2 gigawatts of solar PV installations as of 2019. With technological advancements, the region is doing various research on achieving cheaper and flexible solar panels, which can be installed on multiple surfaces.
  • Companies like Heliatek GmbH and OPVIUS GmbH are developing polymer solar cells and have demonstrated few projects in the region.
  • The largest polymer or organic solar cells project was in France. It called the BiOPV (building Integrated Organic Photovoltaic). The project includes the installation of organic photovoltaic in the roof of around 500 square meters that generate nearly 23.8 MWh of electricity.
  • As of 2019, few other R&D projects are going on in the region. Industrial roll-to-roll (R2R) printing of highly efficient non-fullerene acceptor (NFA) based organic photovoltaics (OPV) by OPVIUS GmbH is one of the prominent ones. Completion of R&D in various sectors and various application is expected to expand the market in the region during the upcoming years.
  • Apart from Europe, the United States’ National Renewable Energy Laboratory (NREL) has done various research on polymer solar cells, which is like develop the technology in the North American region as well.
Polymer Solar Cells Market Outlook

Polymer Solar Cells Industry Overview

The polymer solar cells market is consolidated. Some of the key players in the market include Eni SpA, NanoFlex Power Corporation, Infinity PV, OPVIUS GmbH, Heliatek GmbH, and Solarmer Energy Inc.

Polymer Solar Cells Market Leaders

  1. Eni SpA

  2. NanoFlex Power Corporation

  3. Infinity PV

  4. OPVIUS GmbH

  5. Heliatek GmbH

*Disclaimer: Major Players sorted in no particular order

Eni SpA, NanoFlex Power Corporation, Infinity PV, OPVIUS GmbH, Heliatek GmbH

Polymer Solar Cells Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD million, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitute Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography

      1. 5.1.1 North America

      2. 5.1.2 Europe

      3. 5.1.3 Asia-Pacific

      4. 5.1.4 South America

      5. 5.1.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Solarmer Energy Inc

      2. 6.3.2 NanoFlex Power Corporation

      3. 6.3.3 Infinity PV

      4. 6.3.4 OPVIUS GmbH

      5. 6.3.5 Heliatek GmbH

      6. 6.3.6 Eni SpA

      4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Polymer Solar Cells Market Research FAQs

The Polymer Solar Cells Market is studied from 2019 - 2028.

The Polymer Solar Cells Market is growing at a CAGR of >2.5% over the next 5 years.

Europe is growing at the highest CAGR over 2019 - 2028.

Europe holds highest share in 2021.

Eni SpA, NanoFlex Power Corporation, Infinity PV, OPVIUS GmbH, Heliatek GmbH are the major companies operating in Polymer Solar Cells Market.

Polymer Solar Cells Industry Report

Statistics for the 2023 Polymer Solar Cells market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polymer Solar Cells analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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