New York City, NY: Jun 17, 2019 – Published via (Wired Release) – Organic Photovoltaic (OPV) is a device used to convert solar energy to electrical energy. Organic photovoltaic technology enables power generation at a lower cost than that from other power generation technologies.
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.
Organic photovoltaics are produced from sustainable and carbon-based organic materials and do not contain rare earth metals, which makes it eco-friendly, more cost-effective. Organic photovoltaics can absorb light more efficiently and films are available in various shapes and colors. This makes the product ideal for use as a conventional building element. Organic photovoltaics technology and laminates do not require direct light irradiation to function. Building Integrated Organic Photovoltaics (BIOP) products can help to achieve high industrial-grade reliability, cost-efficiency and scalability, which will further fuel demand for organic photovoltaics for applications in buildings and other constructions.
Organic photovoltaics have limitations, which results in drawbacks such as less efficiency, lower lifespan etc., thereby making this technology unsuitable for some applications. However, technological enhancements can organic photovoltaics can overcome some glitches through technological advancements and enhancements such as organic molecule of the device being synthesized. In addition, use of nanotechnology could also increase the range of its applications, and enhance device performance, as well as extend lifespan.
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Global Organic Photovoltaics Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global organic photovoltaics market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global organic photovoltaics market is expected to expand at a moderate CAGR of 12% during the forecast period.
Global Organic Photovoltaics Market: Segmental Snapshot
The market report has been segmented on the basis of type, application, and region. The type segment includes DSSC and P-N heterojunction. By application segment includes buildings, power generation, consumer products & telecommunication, lighting systems, and others. The region/country covered in the analysis are US, Europe, Japan, China, India, Southeast Asia, South America, South Africa, and Rest of the World.
By Type: The DSSC segment in the global organic photovoltaics market is expected to register comparatively higher CAGR of over 12% over the forecast period
By Application: The buildings segment in the global organic photovoltaics market is expected to register highest CAGR of over 12% over the forecast period
By Region/Country: The market in China is expected to register highest CAGR of over 12.5% over the forecast period in the global organic photovoltaics market
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Global Organic Photovoltaics Market: Competitive Analysis
The research report on the global organic photovoltaics market includes profiles of some of major companies such as 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).
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from Wired Release http://bit.ly/2XgLM3l
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