Key Market Insights
Increasing polymer solar cell projects will spur the market revenue growth
The global polymer solar cells market accounted for US$ 50.4 Mn in 2018 and is anticipated to grow to US$ 234.6 Mn growing at a CAGR of 21.2% during the forecast period from 2019 to 2027.
The global polymer solar cells market is projected to grow robustly owing to the rapidly growing electronics industry globally. A combination of factors including developing the electrical and electronics industry, rapidly increasing demand for renewable sources of energy, increasing the building and construction sector globally, and support from governments among others are proliferating the demand of the global polymer solar cells market. Apart from this, the increasing trend to move towards clean and green energy coupled with expanding the automobile and construction industry are enhancing the market growth of the industry. Additionally, enhancement in manufacturing techniques of polymer solar cells to reduce cost and enhance performance, focusing on the development of new material to make photovoltaics a better alternative to traditional fuels are having a positive influence on the polymer solar cells market growth.
Additionally, rising investments in research and development to develop a clean and sustainable source of energy is further boosting the market growth. The polymer solar cells offer a variety of benefits including disposable, lightweight, easy to fabricate, and cost-efficient among others. However, these cells degrade during dark, have issues with thermal stability, and cannot be used for longer durations which are factors hindering the market growth.
Junction Type Analysis
Bulk Heterojunction segment to dominate the market throughout the forecast period
On the basis of the junction type, the polymer solar cells market is further classified into a single layer, bilayer, bulk heterojunction, multi-junction, and others. The bulk heterojunction segment dominated the polymer solar cells market and contributed to a revenue share of more than 25% of the global market. This can be attributed to the benefits offered by it including low weight, semitransparency, and easy integration with other products among others.
In contrast, the multi-junction segment is projected to expand with the highest growth rate throughout the years to come. This can be associated with the advantages provided by them including absorbing different wavelengths, high efficiency, and lower bandgap among others.
Application Analysis
BIPV segment expected to dominate the market during the forecast period
On the basis of application, the global polymer solar cells market is bifurcated into BIPV (building integrated photovoltaic), consumer electronics, automotive, defense & emergency, and others. The BIPV segment dominated the global polymer solar cells market and growing with the highest rate. The segment is expected to continue this trend during the forecast period and contributed XX% of revenue share. This can be attributed to favorable rules ®ulations to enhance renewable installations and increasing adoption of renewable energy sources among others
On the other hand, the BIPV segment is followed by the consumer electronics segment and is expected to grow significantly during the years to come.
Regional Analysis
Asia Pacific region dominated the global polymer solar cells market
Asia Pacific region led the polymer solar cells market and represents US$ XX Bn in terms of market share and is anticipated to register a CAGR of XX% during the forecast period. This can be attributed to the rapidly evolving building and construction sector in developing nations such as China, and India among others. The rising per capita income coupled with rapid urbanization are factors propelling the polymer solar cells market growth in the region.
On the other hand, the North America region is anticipated to grow with a significant rate owing to the presence of a large number of manufacturers in the region and an increasing number of renewable energy projects in the region. The US holds the major share in the region accounting for approximately 80% of market share.
List of Companies Covered:
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall Polymer Solar Cells market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Key questions answered in this report
This product will be delivered within 2 business days.
Increasing polymer solar cell projects will spur the market revenue growth
The global polymer solar cells market accounted for US$ 50.4 Mn in 2018 and is anticipated to grow to US$ 234.6 Mn growing at a CAGR of 21.2% during the forecast period from 2019 to 2027.
The global polymer solar cells market is projected to grow robustly owing to the rapidly growing electronics industry globally. A combination of factors including developing the electrical and electronics industry, rapidly increasing demand for renewable sources of energy, increasing the building and construction sector globally, and support from governments among others are proliferating the demand of the global polymer solar cells market. Apart from this, the increasing trend to move towards clean and green energy coupled with expanding the automobile and construction industry are enhancing the market growth of the industry. Additionally, enhancement in manufacturing techniques of polymer solar cells to reduce cost and enhance performance, focusing on the development of new material to make photovoltaics a better alternative to traditional fuels are having a positive influence on the polymer solar cells market growth.
Additionally, rising investments in research and development to develop a clean and sustainable source of energy is further boosting the market growth. The polymer solar cells offer a variety of benefits including disposable, lightweight, easy to fabricate, and cost-efficient among others. However, these cells degrade during dark, have issues with thermal stability, and cannot be used for longer durations which are factors hindering the market growth.
Junction Type Analysis
Bulk Heterojunction segment to dominate the market throughout the forecast period
On the basis of the junction type, the polymer solar cells market is further classified into a single layer, bilayer, bulk heterojunction, multi-junction, and others. The bulk heterojunction segment dominated the polymer solar cells market and contributed to a revenue share of more than 25% of the global market. This can be attributed to the benefits offered by it including low weight, semitransparency, and easy integration with other products among others.
In contrast, the multi-junction segment is projected to expand with the highest growth rate throughout the years to come. This can be associated with the advantages provided by them including absorbing different wavelengths, high efficiency, and lower bandgap among others.
Application Analysis
BIPV segment expected to dominate the market during the forecast period
On the basis of application, the global polymer solar cells market is bifurcated into BIPV (building integrated photovoltaic), consumer electronics, automotive, defense & emergency, and others. The BIPV segment dominated the global polymer solar cells market and growing with the highest rate. The segment is expected to continue this trend during the forecast period and contributed XX% of revenue share. This can be attributed to favorable rules ®ulations to enhance renewable installations and increasing adoption of renewable energy sources among others
On the other hand, the BIPV segment is followed by the consumer electronics segment and is expected to grow significantly during the years to come.
Regional Analysis
Asia Pacific region dominated the global polymer solar cells market
Asia Pacific region led the polymer solar cells market and represents US$ XX Bn in terms of market share and is anticipated to register a CAGR of XX% during the forecast period. This can be attributed to the rapidly evolving building and construction sector in developing nations such as China, and India among others. The rising per capita income coupled with rapid urbanization are factors propelling the polymer solar cells market growth in the region.
On the other hand, the North America region is anticipated to grow with a significant rate owing to the presence of a large number of manufacturers in the region and an increasing number of renewable energy projects in the region. The US holds the major share in the region accounting for approximately 80% of market share.
List of Companies Covered:
- Trina Solar Limited
- Tata Power Solar Systems Limited
- Solar World AG
- Jinko Solar Holding Co. Ltd
- Alps Technology Inc
- Suniva Inc
- Pionis Energy Technologies LLC
- Borg Inc.
- Heliatek GmbH
- Infinity PV ApS
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall Polymer Solar Cells market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the polymer solar cells market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2027
- Which segment accounts for the fastest CAGR during the forecast period?
- Which application segment holds a larger market share and why?
- Are low and middle-income economies investing in the polymer solar cells market?
- Which is the largest regional market for polymer solar cells?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- The worldwide market value of the Polymer Solar Cells market in 2017 and 2018
- Which are the key trends driving the global polymer solar cells market growth?
- Who are the leading service providers in the polymer solar cells market worldwide?
This product will be delivered within 2 business days.
Table of Contents
1. Preface
2. Executive Summary
3. Market Dynamics
4. Global Polymer Solar Cells (PSC) Market, by Junction type , 2017-2027 (US$ Bn)
5. Global Polymer Solar Cells (PSC) Market, by Application, 2017-2027 (US$ Bn)
6. North America Polymer Solar Cells (PSC) Market Analysis, 2017-2027 (US$ Bn)
7. Europe Polymer Solar Cells (PSC) Market Analysis, 2017-2027 (US$ Bn)
8. Asia Pacific Polymer Solar Cells (PSC) Market Analysis, 2017-2027 (US$ Bn)
9. Rest of the World Polymer Solar Cells (PSC) Market Analysis, 2017-2027 (US$ Bn)
10. Company Profiles
List of Figures
List of Tables
Companies Mentioned
- Trina Solar Limited
- Tata Power Solar Systems Limited
- Solar World AG
- Jinko Solar Holding Co. Ltd
- Alps Technology Inc
- Suniva Inc
- Pionis Energy Technologies LLC
- Borg Inc.
- Heliatek GmbH
- InfinityPV ApS
