Organic Solar Cells Market

COVID-19 Impact analysis

COVID-19's unprecedented crisis in 2020 continues to have a visible and significant impact on the global workforce, industry, country, and economy. The disease has spread to nearly 100 countries around the world since the COVID-19 virus outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. The global effects of the coronavirus disease 2019 (COVID-19) are already being felt, and the organic PV solar cells market will be significantly affected. COVID-19 has the potential to have three major effects on the global economy: directly affecting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Flight cancellations, travel bans, and quarantines; restaurants closed; all indoor events restricted; over forty countries declared states of emergency; massive supply chain slowdown; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about the future have all been impacted by the COVID-19 outbreak.

Top Impacting Factors 

Companies will be compelled to promote the use of renewables for power generation, particularly solar and wind energy, as a result of strict government policies. Organic PV solar cells are a third-generation PV technology that can generate electricity at a lower cost than first- and second-generation solar cells. Because of rising energy demands in various end-user applications around the world, the global organic solar cell market is expected to grow significantly. A key market driver is the increased reliance on renewable resources for power generation as a result of environmental benefits. Furthermore, government tax breaks and subsidies in lieu of renewable energy generation contribute to the market's growth. 

Market Trends

• OPV cells have emerged as a promising PV technology, with long-term performance and higher efficiency. Furthermore, soluble organic molecules allow for roll-to-roll processing and can perform well under indoor lighting conditions.
• In the coming years, the introduction of building-integrated photovoltaics (BIPV) products is expected to accelerate the organic solar cell market's growth. Unlike traditional construction materials, these products provide a building with a variety of enhanced functionalities.
• It is capable of converting buildings from energy consumers to energy producers. However, in order to achieve this, BIPV technology must be combined with modern construction technology. Furthermore, it is capable of shielding structures from noise and harsh weather conditions.
• Building-integrated photovoltaic applications (BIPV), defense applications, space research, mobile applications, and other conventional solar applications are among the market segments for organic solar cells.
• The majority of the market was dominated by BIPV, followed by mobile applications and other traditional solar applications. Due to the increasing use of organic solar cell skins on the surface of military equipment, the defense application is likely to be the fastest-growing segment. Solar bags, laptops, mobile phones, and tablets are expected to contribute to the global market's expansion.
• Organic solar cells are preferred over conventional solar cells due to physical characteristics such as design and flexibility, which allow organic cells to be easily transformed into desired shapes and colors. Low efficiency and a shorter life span, on the other hand, are major roadblocks for the organic solar cell market.
• The majority of these businesses are constantly looking for ways to improve and innovate in their industry. Heliatek GmBH, for example, has developed a partially transparent solar photovoltaic cell that can absorb around 60% of the light it receives. They're putting money into cutting-edge solar solutions for a variety of applications, and they're ramping up series production to mass-produce organic solar films.

Key Benefits of the Report

• This study presents the analytical depiction of the organic solar cells market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the organic solar cells market share.
• The current market is quantitatively analyzed to highlight the organic solar cells market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed organic solar cells market analysis based on competitive intensity and how the competition will take shape in coming years.