Increasing awareness regarding renewable sources for electricity generation is a key factor expected to drive growth of the global organic photovoltaics (OPV) market over the forecast period.
The global organic photovoltaics market is estimated to value at around US$ 0.5 Bn in 2017, and is expected to register a CAGR of 12%. The first five-year cumulative revenue (2017–2021) is projected to be around US$ 3.3 Bn, which is expected to increase considerably over the latter part of the five-year forecast period.
The global organic photovoltaics (OPV) market report has been segmented on the basis of type, application, and region. On the basis of type, the target market is segmented into dye sensitized solar cells (DSCC) and P-N heterojunction. The P-N heterojunction type segment is expected to register significant growth in terms of revenue over the forecast period, owing to increasing availability of dye sensitized solar cells. The DSSC segment is estimated to register highest CAGR of over 12%
On the basis of application, the target market is segmented into buildings, power generation, consumer products & telecommunication, lighting systems, and others (spacecraft and transportation). The buildings application segment is expected to register significant growth in terms of revenue over the forecast period, owing to its cost-effective and eco-friendly properties. The consumer products & telecommunication segment is projected to register highest CAGR over 12% over the forecast period.
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On the basis of region/countries, the global organic photovoltaics (OPV) market is segmented into US, Europe, Japan, China, India, Southeast Asia, South America, South Africa, and Rest of the World. The market in China is expected to dominate with significant revenue share in the global market, owing to increasing adoption of organic photovoltaics films in commercial and residential construction sectors for applications such as window panels and others. The market in Europe is expected to register significant share in terms of revenue over the forecast period, owing to Increasing government initiatives to promote utilization of renewable energy resources in various countries in the region.
Key players operating in the global organic photovoltaics (OPV) market include Armor SA, BELECTRIC Solar & Battery GmbH (Innogy SE), AGC Inc., Mitsubishi Chemical Holdings Corporation, Heliatek GmbH, Henkel AG & Co. KGaA, Solarmer Energy, Inc., Centre Suisse d’Electronique et de Microtechnique SA (CSEM SA), Sumitomo Chemical Co. Limited, Toshiba Corporation, Heraeus Holding GmbH, BASF SE, and EMD Performance Materials (Merck KGaA)