The global polymer solar cells market is anticipated to witness expansion at exponential CAGR over the forecast by 2027, according to a report published by Research Report Insights. The report primarily focuses on driver, restraints, challenges and trends in the market. The report even focuses on in-depth market segmentation to project volume and value estimations over the ten year assessment period.
According to a report published by RRI, the polymer solar cells market over the assessment period have huge growth. The market for polymer solar cells is estimated to reflect value of over US$ 295000 Thousand by the end of 2027, up from US$ 34000 Thousand in 2016, reflecting exponential CAGR of 21.45% during the forecast period.
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Drivers and Restraints
Improvements in electrical and electronic industry, rising government support and initiatives, increasing demand for sources of renewable energy, rising construction activities related to green buildings along with growth in construction and automobile industries are key factors positively influencing growth of the polymer solar cells market. Whereas, development of polymer solar cells techniques, improvements of electronic devices, developments in energy payback time on account of both energy and finance, concentrating on improvements of latest materials to manufacture photovoltaics as the better alternative to organic fuels, growing life spam of organic solar photovoltaic cells and improvements in new plastic solar cells to decrease energy loss are various trends that are included in the research report, indirectly impacting on the growth of the market.
However, fluctuating oil and gas prices, high dependency on hydroelectricity and fossil fuels, relatively minimum power conversation capacity, limited operational life of organic solar cells and availability of alternatives are major restraints might pose to the growth of global polymer solar cells market.
Forecasts based on Segmentation
Geographically, Asia Pacific excluding Japan region is expected to retain its dominance in the market owing to high market share secured by the market over the assessment period. This region is expected to witness expansion at highest CAGR of 24.45% during the assessment period. China is the key contributor that exhibits high potential and fastest expansion of market for polymer cells with exponential CAGR through 2027. Japan, Western Europe and North America are also poised to exhibit significant growth in foreseeable years.
The printing segment, by technique type is anticipated to hold high market share and expand at high growth rate compared to coating segment, to secure a value nearly US$ 239000 Thousand and is poised to reflect high CAGR over the forecast period.
The BIPV segment, on the basis of application category is estimated to expand at highest growth rate over the forecast period, witnessing generation of huge market share thereby, maintaining fore-front position in the market.
Raynergy Tek Incorporation, Heliatek GmbH, BELECTRIC OPV GmbH (OPVIUS GmbH), SolarWindow Technologies, Inc., SUNEW, Solarmer Energy, Inc., Solvay S.A., Armor Group, Eight19 Ltd., and InfinityPV ApS are some leading market players, performing in the market and are profiled in the report.