Organic Photovoltaic Market 2023 : Industry Analysis, Opportunity Assessment And Forecast Upto 2030

Organic electronics has gained popularity in the electronics display market due to their flexible and ultra-thin form and low cost. Organic technology is useful for solar photovoltaic to fully redefine the way solar cells are invented by using solar power. Organic photovoltaic (OPV) solar cells used to provide a low-energy-production photovoltaic solution and an Earth-abundant. The technology also has a potential to supply electricity at a lower cost as compared to the first or second generation solar technologies. Organic technology can be used to produce transparent and colored organic photovoltaic due to availability of various absorbers. This technology is mainly used to building-integrated photovoltaic market. Organic photovoltaic has reached efficiency nearly at 11% of device however, efficiency margins as well as long-term consistency remain critical obstacles.  Organic photovoltaic technologies have much better-quality materials that can be used in device structures in the latest years. Organic photovoltaic have qualities such as low capital expenditure, low energy production cost, and performance in indoor lighting conditions. These developments are leading organic photovoltaic (OPVs) toward commercial viability in the target market.

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As compared to inorganic solar cells, organic photovoltaic cells use polymeric absorbers or molecular absorbers formed in a localized exciton. Absorber can be in combination with an electron acceptor, such as a fullerene, it has molecular orbital energy states that enables electron transmission.  The primary driver of organic photovoltaic technology is its capability to be used in large area and flexible solar modules, particularly in helping R2R (roll-to-roll) production. Moreover, manufacturing cost can be decrease for organic photovoltaic due to their lesser cost of silicon-based materials and the comfort of device manufacturing. On the other hand, to latch up with the work of silicon-based solar cells, both the acceptor and donor materials in an organic photovoltaic must have good film morphologies, good extinction factors, and high stabilities. Additional requirement for an ideal acceptor or donor is a huge electron/hole mobility to capitalize charge transport. Maximum efficiency of an organic photovoltaic device can be accomplished through various photovoltaic designs such as inverted device structures, bulk-heterojuction (BHJ), increasing low band gap conjugated polymers, and new organic minor molecules as donor materials. A key restraint of the organic photovoltaic market is the difficulty in generation of electric power and shorter lifespan of OPV.

The organic photovoltaic market can be segmented based on efficiency, application, end-user, and region. Based on efficiency, the organic photovoltaic market can be bifurcated into small molecule, polymer, and perovskite. In the organic photovoltaic market, perovskite has high performance as compared to other materials. In terms of application, the organic photovoltaic market can be divided into building-integrated (BIPV), building-applied (BAPV), and solar chargers. Based on end-use, the organic photovoltaic market can be classified into residential, industry, utility, power plant application, military, and others. Furthermore, the organic photovoltaic market can be segmented, according to regional divisions, into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe accounts for the dominant share of the organic photovoltaics market owing to the existence of leading manufacturers of organic photovoltaics followed by North America.

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Several players are engaged in the organic photovoltaic market with a diverse portfolio of solutions. Key players operating in the organic photovoltaic market include Armor Group, ACC, Belectric, BASF, CSEM Brasil, DisaSolar, Eight19, Merck, Mitsubishi Chemical, Heraeus, Next Energy, Solarmer, Nanoflex Power Corporation, Sumitomo Chemical, and Toshib. With advanced research in the field of organic photovoltaic technologies, companies are targeting the various market sections wherein the technology can be employed, for instance, posters and point-of-purchase (PoP) advertising, automotive, apparels, off-grid applications for developing countries, consumer electronics, building integrated photovoltaics, and power generation.

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