Rising urgency for power generation through renewable energy sources is set to emerge as the primary factor enlarging the global organic solar cell market size in the upcoming decade. Energy demand and consumption in the world is increasing at a never-ending rate and majority of this demand is being met by fossil fuels, the global movement toward clean energy notwithstanding. According to the World Energy Markets Observatory (WEMO) report released by Capgemini, world energy consumption went up by 2.3% in 2018, nearly doubling since 2010. The report estimates that 75% of this demand spike was met by oil, natural gas, and coal, leading to a 2% rise in greenhouse gas (GHG) emissions. In spite of this dreary picture, there are some positive signs. For example, the US-based Center for Climate and Energy Solutions (C2ES) states that in 2017, 18% of the global energy consumed for transportation, heating, and power came from renewable sources. Moreover, the C2ES predicts that by 2040, 45% of the world electricity generation would be achieved through renewables, signaling good news for the organic solar cell market growth.
Fortune Business Insights™ in its new report, titled “Organic Solar Cell Market Size, Share & Industry Analysis, By Material (Small molecules, Polymers), By Application (Consumer Electronics, BIPV & Architecture, Wearable Devices, Military & Defense, Automotive, Others) and Regional Forecast, 2019-2026”, has provided valuable information about the market. Highlights of the report include:
- Thorough research into the factors, drivers, and restraints of the market;
- Microscopic analysis of the different market segments;
- In-depth assessment of the regional dynamics and competitive landscape of the market; and
- Accurate projection of market figures along with precise prediction of upcoming trends and future prospects.
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- January 2020: Aarhus University in Denmark led a research venture that led to the birth of microscopic organic PV technology. This technology can be used to develop light-based, neural-stimulating scaffolds inside the human body.
- December 2019: The Fraunhofer Institute for Laser Technology-led EffiLayers project in the North Rhine-Westphalian region in Germany is conducting research into developing thin-film organic PVs that are flexible and printable. The research would enable manufacturers in the region to develop newer technologies in the organic solar cell market.
Key Players Identified in the Organic Solar Cell Market Report:
- Fraunhofer-Institut für Solare Energiesysteme ISE
- SOLAR TECHNOLOGIES
- NanoFlex Power Corporation
- Zhejiang Perlight Solar Co., Ltd.
- Heliatek GmbH
- OPVIUS GmbH
- COE Solar
- BRITE HELLAS S.A.
- Wuxi Sunket New Energy Technology Co., Ltd.
- Shenzhen Shine Solar Co., Ltd.
- Merck Group
- Regional Analysis:
- North America (The USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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Certain Shortcomings of Organic Solar Cells May Inhibit Market Growth
Organic photovoltaic cells (OPVCs) are made from molecules instead atoms. They boast of many advantages such as being lighter in weight than their silicon counterparts and ease of operability. However, OPVCs suffer from certain limitations that may cast a shadow on their adoption rate. For example, extracting electricity from these cells is a tedious task as molecules move unpredictably when printed. As a result, it hampers the efficiency of an organic solar cell, making its purchase less desirable. Furthermore, organic PVs attempt to discharge the sunlight they absorb and based on the volatility of the molecules used, this energy can be simply withered away as heat, rendering these devices energy-inefficient. Thus, greater research is needed to make this technology more suitable and effective in the modern context.
North America and Asia-Pacific to Present the Most Promising Prospects for the Market
North America and Asia-Pacific are slated to dominate the organic solar cell market share in the forecast period as countries such as the US, China, and India intensify their efforts in commercializing this technology. While the US is leading the market in North America, China and India are making their mark on the global energy stage owing to their enormous investments in clean energy. African countries, too, are putting in measures to harness the large amounts of sunlight they receive all year round. In Europe, the organic solar cell market trends will be mainly driven by increasing investments in renewables by Germany, the UK, Spain, Italy, and the Netherlands.
Innovative Product Offerings to Heighten Competitive Spirits
The organic solar cell market analysis says that major players are employing strategies to consolidate their position in this market. One of the preferred strategies is the development of novel solutions which will help players to diversify their product portfolio and expand their sales horizons. Additionally, many academic institutes are conducting ground-breaking research exploring the possible applications of OPVCs.
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Major Table of Content for Organic Solar Cell Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Market Analysis, Insights and Forecast, 2026
- North America Market Analysis, Insights and Forecast, 2026
- Europe Market Analysis, Insights and Forecast, 2026
- Asia PacificMarket Analysis, Insights and Forecast, 2026
- Middle East and Africa Market Analysis, Insights and Forecast, 2026
- Latin America Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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