Press Release

Feb, 28 2023

Increasing Awareness Towards the Use of Renewable Energy for Power Generation Drive the Demand for Global Organic Solar Cells (OPV) Market

With the increasing income and developing technologies coupled with an increasing focus on environmental preservation, there is an increase in the number of solar adopters in the metro cities for residential purposes. The increasing government support and multiple tax credit schemes have led to an increase in the adoption of solar systems for residential applications.

Access Full Report @ https://www.databridgemarketresearch.com/pt/reports/global-organic-solar-cell-opv-market

Data Bridge Market Research analyses that the Global Organic Solar Cells (OPV) Market is expected to grow at a CAGR of 10.9% in the forecast period of 2023 to 2030 and is expected to reach USD  609,271.60 thousand by 2030. With the increasing income and developing technologies coupled with an increasing focus on environmental preservation, there is an increase in the number of solar adopters in the metro cities for residential purposes. The increasing government support and multiple tax credit schemes have led to an increase in the adoption of solar systems for residential applications.

Key Findings of the Study

Organic Solar Cell (OPV)

Surge in Demand for Building Integrated Photovoltaic Products (BIPV)

Organic photovoltaics are thin-filed and flexible and can be integrated into the sides of buildings, replacing conventional glass windows. This offers a large available area for solar energy absorption. OPC skylights are integrated using ultra-thin organic solar cells, which allow daylight to penetrate while simultaneously generating electricity.

Building integrated photovoltaics (BIPV) refers to materials that are utilized for building envelope, replacing conventional building materials in the roofs, skylights, and facades, among others. With BIPV, the buildings have an outer layer of the structure, which also generates electricity for on-site use or export to the grid. The BIPV applications are often for commercial and industrial buildings. The use of OPVs has significant advantages over silicon solar cells as they result in cost reduction. They are lightweight, flexible and visibly transparent. This has resulted in growth in the adoption of organic photovoltaics as material in BIPV applications.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2020 - 2015)

Quantitative Units

Revenue in USD Thousand

Segments Covered

By Type (Bilayer Membrane Heterojunction, Schottky Type, and Others), Material (Polymer and Small Molecules), Application (BIPV & Architecture, Consumer Electronics, Wearable Devices, Automotive, Military & Device, and Others), Physical Size (More Than 140*100 MM Square, and Less Than 140*100 MM Square), End User (Commercial, Industrial, Residential, and Others).

Countries Covered

U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey, and the Rest of Europe. Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia, and the Rest of Asia-Pacific, Brazil, Argentina, and the Rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E, Israel, and the Rest of the Middle East and Africa.

Market Players Covered

Eni S.p.A (Rome and Italy), TOSHIBA CORPORATION (Tokyo and Japan), ARMOR - Siège social (Nantes and France), Tokyo Chemicals Industry UK Ltd (Tokyo), Merck KGaA (Germany), Alfa Aesar, Thermo Fisher Scientific (U.K.), Heliatek (France), Solarmer Energy Inc. (U.S.), SUNEW (Brazil), Epishine (Sweden), Lumtec (Taiwan), Borun  New Material Technology Co., Ltd, (China), Novaled Gmb (Germany), Ningbo Polycrown Solar Tech Co, Ltd, (China), SHIFENG TECHNOLOGY CO., LTD., (Taiwan), Solaris Chem Inc., (Canada), MORESCO Corporation (Japan), NanoFlex Power Corporation (U.S.), and Flask (Singapore), among others.

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

The global organic solar cell (OPV) market is segmented on the basis of type, material, application, physical size, and end user.

  • On the basis of type, the global organic solar cell (OPV) market is segmented into bilayer membrane heterojunction, schottky type, and others. In 2023, the bilayer membrane heterojunction segment is expected to dominate the global organic solar cell (OPV) market with a 58.86% market share due to increasing consumption rates for a wide range of applications.

In 2023, the bilayer membrane heterojunction segment by type is anticipated to dominate the global organic solar cell (OPV) market.

In 2023, the bilayer membrane heterojunction segment will dominate the global organic solar cell (OPV) market owing to the increasing consumption rate and for its additional qualities like increased thermal stability and efficient power conversions.

  • On the basis of material, the global organic solar cell (OPV) market is segmented into polymers and small molecules. In 2023, the polymer segment is expected to dominate the market with a 62.47% market share due to the versatile applications offered by polymers.
  • On the basis of application, the global organic solar cell (OPV) market is segmented into BIPV & Architecture, consumer electronics, wearable devices, automotive, military & devices, and others. In 2023, the BIPV & architecture segment is expected to dominate the market with a 41.94% market share due to the increased rate of implementation of organic solar cells (OPV).
  • On the basis of physical Size, the global organic solar cell (OPV) market is segmented into more than 140*100 MM square, and less than 140*100 MM square. In 2023, the more than 140*100 MM square segment is expected to dominate the market with a 66.16% market share due to increased consumption rate and demand, and also the better advantages offered.
  • On the basis of end user, the global organic solar cell (OPV) market is segmented into commercial, industrial, residential, and others. In 2023, the commercial segment is expected to dominate the market with a 47.16% market share due to increased usage of organic solar cells in various commercial sectors.

Major Players

Data Bridge Market Research recognizes the following companies as the major organic solar cell (OPV) market players in the global organic solar cell (OPV) market Eni S.p.A, (Rome, Italy), TOSHIBA CORPORATION (Tokyo, Japan), ARMOR - Siège social (Nantes, France), Tokyo Chemicals Industry UK Ltd (Tokyo), Merck KGaA (Germany), Alfa Aesar, Thermo Fisher Scientific (U.K.), Heliatek (France), Solarmer Energy Inc. (U.S.), SUNEW (Brazil), Epishine (Sweden), Lumtec (Taiwan), Borun  New Material Technology Co., Ltd, (China), Novaled Gmb (Germany), Ningbo Polycrown Solar Tech Co, Ltd, (China), SHIFENG TECHNOLOGY CO., LTD., (Taiwan), Solaris Chem Inc., (Canada), MORESCO Corporation (Japan), NanoFlex Power Corporation (U.S.), and Flask (Singapore), among others.

Market Development

Organic Solar Cell (OPV)

  • In February 2023, Eni Spa inaugurated a 263 MW “Golden Buckle Solar Project “photovoltaic plant in Brazoria County, Texas, USA. It will produce a yearly average of 400 to 500 GWh of solar energy to provide power to 45,000 households with this inauguration; the company was able to extend its presence and will be able to achieve its carbon neutrality by 2040.
  • In December 2022, Toshiba Energy Systems and Solutions and Next Kraftwerke Toshiba Corporation, with Toshiba ESS as a consortium leader, were selected in June for a demonstration project. With this agreement, the company was able to extend its global presence and helps in gaining recognition.
  • In February 2022, ARMOR announced their acquisition of intellectual property rights from Merck relating to printed organic photovoltaic (OPV) modules. As a result, the company with the greatest portfolio of OPV patents currently owns it. This will enable the company to have a great brand image and a larger consumer base.
  • In April 2022, ASCA announced about their agreement, which is the collaboration with Epishine, intends to hasten the growth of the global photovoltaic market. This will be beneficial for both the company to expand their technological advancements.
  • In November 2021, To continue advancing OPV technology in a field that is continually expanding, longtime partners ASCA, a pioneer in the organic photovoltaic (OPV) sector, and Nano-C, a top producer of patented nanostructured carbon materials, engage in a collaboration agreement. This will help the companies to get brand image among competitors.
  • In June 2021, Tokyo Chemical Industry Co., Ltd. announced the offering of new hole-selective self-assembled monolayer (SAM) forming agents, 2PACz [C3663], MeO-2PACz [D5798] and Me-4PACz [M3359] for high-performance perovskite solar cells and OPVs. With this, the company was able to offer tandem solar cells for coverage on rough surfaces. This enhanced the company’s offerings in the organic solar cell market.
  • In February 2023, Merck KGaA announced about the opening of its new production facility in Taiwan to expand its business in electronics and semiconductors. This opening will boost their production capacity and attract a larger consumer base.
  • In January 2023, Merck KGaA announced the completion of the acquisition of M Chemicals Inc., a subsidiary of Mecaro Co. Ltd., recently created to run its chemical operations. The combination of these two companies is anticipated to strengthen Merck's localization initiatives while completing a significant portion of its Semiconductor Solutions portfolio. This acquisition will boost the company’s business in the semiconductor sector.
  • In November 2022, Heliatek announced, A Distribution Agreement between Heliatek and PETA Engineering had been struck in order to promote and install sizable quantities of Heliatek's avant-garde solar films in the Republic of Korea. This has helped the company to boost its business.
  • In March, Heliatek received ISO 9001:2015 certification from TÜV SÜD, a trusted partner of choice for safety, security and sustainability solutions. This helped the company to comply with the high standards of a state-of-the-art quality management system and to ensure proper documentation of processes in all departments. This certification enabled the company to commercialize their innovative organic solar film.
  • In January 2020, announced the joint development agreement with True Metal Solutions (TMS), a building cladding fabricator and installer. According to the agreement, True Metal Solutions will use organic photovoltaic (OPV) thin film material with cladding for building façades. The aim of the agreement was to generate clean power using OPV cladding that is scalable, easy to install and change the construction tradecraft. With this agreement, the company was able to extend its offering in the façade market.
  • In January 2023, Novaled GmbH was announced that they won the award of "Corporate Health Excellence Award" in 2022. This will help the company to be recognized better among the competitors.
  • In February, SOLARIS CHEM INC. announced the signing of an agreement with PL NANOTECHNOLOGY PTE LTD, a leading scientific instruments and automation solutions provider in South East Asia. The agreement was aimed at extending the company’s distribution capabilities in the South East Asian region. The company was able to extend its portfolio of products, such as semiconducting polymers, fullerene derivatives and dyes, formulated for their use as active layers in solar cells (OPV), transistors (OTFT) and organic light-emitting diodes to the South East Asia market. This enabled the companies to strengthen their common project, expanding their international presence.
  • In February, SOLARIS CHEM INC. announced the signing of an agreement with BioTAG, a company supporting and representing leading brand products and services from around the world for their product distribution. This enhanced the company’s distribution network in Israel. The company was able to successfully present various products, such as semiconducting polymers for solar cell applications, in the new market.

Regional Analysis

Geographically, the countries covered in the global organic solar cell (OPV) market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Belgium, Switzerland, Turkey, and the Rest of Europe. Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia, and the Rest of Asia-Pacific, Brazil, Argentina, and the Rest of South America, South Africa, Egypt, Saudi Arabia, U.A.E, Israel, and the Rest of the Middle East and Africa.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in the global organic solar cells (OPV) market during the forecast period 2023 - 2030

In 2023, Asia-Pacific dominated the global organic solar cells (OPV) market owing to the rising demand for the organic solar cells (OPV) and the high implementation rate. Asia-Pacific will continue to dominate the global organic solar cells (OPV) market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. Many developing economies of the world are focusing on climate change and methods and practices to move on the path of environmental conservation by reducing their carbon footprint. This responsibility is realized both by the corporate and the government sector. The governments of the world are developing policies for subsidizing and easing the process for the adoption of renewable energy.

Asia-Pacific is estimated to be the fastest growing region in the global organic solar cells (OPV) market for the forecast period 2023 - 2030

Europe is expected to grow during the forecast period due to the presence of major market players and the rapid development of organic solar cells (OPV) for a wide range of applications. In addition to this, various technological advancements related to the production and usage of organic solar cells (OPV) have also increased.

For more detailed information about the organic solar cells (OPV) market products market report, click here –


Client Testimonials