Organic Solar Cell Market Trends and Forecast
The future of the global organic solar cell market looks promising with opportunities in the BIPV & architecture, consumer electronics, wearable devices, automotive, and military & device markets. The global organic solar cell market is expected to grow with a CAGR of 11.0% from 2024 to 2030. The major drivers for this market are global shift towards renewable energy sources to mitigate climate change and reduce reliance on fossil fuels, growing interest in green-certified products, and advancements in technology and efficiency.
• Lucintel forecasts that polymer is expected to witness higher growth over the forecast period.
• Within this market, BIPV & architecture will remain the largest segment.
• APAC will remain the largest region over the forecast period.
Country Wise Outlook for the Organic Solar Cell Market
• United States: Company X announced plans to scale up production of organic solar cells, aiming to achieve a 20% increase in efficiency by 2025. Government grants and incentives support research into next-generation materials for solar technology.
• Germany: Leading German firms are collaborating with research institutes to enhance organic solar cell efficiency and durability. Company Y aims to commercialize flexible organic solar panels for building integrated photovoltaics (BIPV) by 2023, supported by government funding for renewable energy innovation.
• China: Chinese companies like Company Z are investing in large-scale manufacturing facilities for organic solar cells, targeting cost reductions and efficiency improvements. Government initiatives include subsidies for installations of organic solar panels in urban areas to boost renewable energy adoption.
• India: Indian government initiatives under the National Solar Mission include incentives for companies like Company A to expand production capacities for organic solar cells. Company A plans to localize manufacturing to reduce costs and enhance market competitiveness, aligning with IndiaÄX%$%Xs renewable energy targets.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Organic Solar Cell Market by Segment
The study includes a forecast for the global organic solar cell market by material, type, application, and region.
Organic Solar Cell Market by Material [Value from 2018 to 2030]:
• Polymer
• Small Molecules
Organic Solar Cell Market by Type [Value from 2018 to 2030]:
• Bilayer Membrane Heterojunction
• Schottky Type
• Others
Organic Solar Cell Market by Application [Value from 2018 to 2030]:
• BIPV & Architecture
• Consumer Electronics
• Wearable Devices
• Automotive
• Military & Device
• Others
Organic Solar Cell Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Organic Solar Cell Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies organic solar cell companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the organic solar cell companies profiled in this report include-
• Eni S.p.A
• TOSHIBA CORPORATION
• ARMOR
• Tokyo Chemicals Industry
• Merck KGaA
• Alfa Aesar
• Thermo Fisher Scientific
• Heliatek
• Solarmer Energy
• Epishine
Recent Development in the Organic Solar Cell Market
• Heliatek: Heliatek has achieved a record-breaking efficiency of 13.2% for its organic solar cells. This milestone underscores their leadership in the field of organic photovoltaics, positioning their technology as competitive with traditional silicon-based solar cells for commercial applications.
• Oxford PV: Oxford PV has successfully integrated its perovskite-silicon tandem solar cells into mass production, achieving efficiencies over 29%. Their innovative approach combines the stability of silicon with the high efficiency of perovskite, marking a significant advancement in the solar cell industry.
• Saule Technologies: Saule Technologies has partnered with a construction company to pilot their semi-transparent organic solar panels in commercial buildings. These panels not only generate electricity but also serve as architectural elements, demonstrating the potential of organic solar cells in building-integrated photovoltaics (BIPV).
• ARMOR solar power films: ARMOR has launched a new generation of flexible organic photovoltaic films, designed for applications in IoT devices and wearable technology. These lightweight and bendable solar films offer a sustainable energy solution for powering smart devices, contributing to the growing trend of renewable energy integration in electronics.
• InfinityPV: InfinityPV has developed a scalable roll-to-roll printing process for manufacturing organic solar cells on a commercial scale. Their technology focuses on reducing production costs while maintaining high efficiency levels, aiming to make organic photovoltaics more accessible for widespread adoption in solar energy systems.
Features of the Global Organic Solar Cell Market
Market Size Estimates: Organic solar cell market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Organic solar cell market size by material, type, application, and region in terms of value ($B).
Regional Analysis: Organic solar cell market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different materials, types, applications, and regions for the organic solar cell market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the organic solar cell market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for organic solar cell market?
Answer: The global organic solar cell market is expected to grow with a CAGR of 11.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the organic solar cell market?
Answer: The major drivers for this market are global shift towards renewable energy sources to mitigate climate change and reduce reliance on fossil fuels, growing interest in green-certified products, and advancements in technology and efficiency.
Q3. What are the major segments for organic solar cell market?
Answer: The future of the organic solar cell market looks promising with opportunities in the BIPV & architecture, consumer electronics, wearable devices, automotive, and military & device markets.
Q4. Who are the key organic solar cell market companies?
Answer: Some of the key organic solar cell companies are as follows:
• Eni S.p.A
• TOSHIBA CORPORATION
• ARMOR
• Tokyo Chemicals Industry
• Merck KGaA
• Alfa Aesar
• Thermo Fisher Scientific
• Heliatek
• Solarmer Energy
• Epishine
Q5. Which organic solar cell market segment will be the largest in future?
Answer: Lucintel forecasts that polymer is expected to witness higher growth over the forecast period.
Q6. In organic solar cell market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the organic solar cell market by material (polymer and small molecules), type (bilayer membrane heterojunction, schottky type, and others), application (BIPV & architecture, consumer electronics, wearable devices, automotive, military & device, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Organic Solar Cell Market Market, Organic Solar Cell Market Market Size, Organic Solar Cell Market Market Growth, Organic Solar Cell Market Market Analysis, Organic Solar Cell Market Market Report, Organic Solar Cell Market Market Share, Organic Solar Cell Market Market Trends, Organic Solar Cell Market Market Forecast, Organic Solar Cell Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.