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Polymer Solar Cells Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Polymer Solar Cells Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Request Now !Polymer solar cells are a special category of flexible solar cells made up of large polymeric molecules that produce electricity from sunlight using the photovoltaic effect. Generally, organic molecules are used in the construction of polymers solar cells and thus these are also termed as organic solar cells. There are several other types of polymer solar cells including the stable amorphous silicon type, which is most commercially used and is made up of highly purified silicon crystals. The optical absorption coefficient of these polymeric molecules is on the higher side. These solar cells are lightweight, easily disposable, and customizable on a molecular level.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Form, Industry Vertical, and Region |
Geographies covered | North America (U.S. and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of LATAM) and Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and Rest of MEA) |
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., NanoFlex Power Corporation and Itek Energy. |
COVID-19 scenario analysis:
The outbreak of the COVID-19 in pandemic has severely impacted the global polymer solar cells market.
- Since the outbreak of the pandemic, the global economy was on a downfall which resulted in the lowering of disposable income among the consumers across the globe. As a result, the demand for electronics and electrical gadgets and appliances decreased significantly and resulted in the lowering of need of polymer solar cells in the market.
- The nationwide lockdowns imposed by several governments to contain the virus imposed most of the business activities to shut down. As a result there was a decrease in demand for energy in majorcommercial places like malls, offices, and others. This has caused decrease in demand for polymer solar cells in different commercial places thereby affecting the market.
- The lack of competitive financial solutions caused due to the economic slowdown along with the restricted growth prospects caused as a result of the uncertainty over future power demand have also acted as a major challenge for the market.
- China is a major producer of polymer solar cells. However, the complete shutdown of the country since the outbreak of the COVID-19 pandemic has severely hampered the growth of the global polymer solar cells market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The steady growth in the technological innovations across the globe has led to a surge in demand for sustainable and eco-friendly sources of energy. The photovoltaic sector is one of the most trending renewable energy technologies, which use solar energy to create electricity. One of the major factors responsible for the growing popularity of polymer cells market over other varieties of photovoltaic cells is the cost effectiveness and easy to fabricate properties. Polymer photovoltaic cells can be applied on windows and walls and even on flexible electronics and other wearables. Moreover, the eco-friendly nature of the polymer solar cells is making it a popular choice among the major end-user industries. The key manufacturers of the polymer solar cells market are investing more on the R&D. They are aiming to produce better and more efficient polymer photovoltaic cells to meet the growing demand for clean energy in the market. However, several issues including less thermal stability and inability to produce energy for a long duration limit the market growth.
Market in the North America region holds the major share of the polymer solar cells market owing to the increase in number of renewable energy projects in the region. The market in the Asia-Pacific region is also expected to witness lucrative growth due to the presence of large number of electronics industries and the high demand for sustainable energy sources for the numerous electronic devices used in the region.
Key segments covered:
Segments | Sub-segments |
Form |
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Industry Vertical |
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Key benefits of the report:
- This study presents the analytical depiction of the global polymer solar cells industry 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 global polymer solar cells market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global polymer solar cells market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global polymer solar cells market analysis based on competitive intensity and how the competition will take shape in coming years.
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