New York, United States , Nov. 15, 2022 (GLOBE NEWSWIRE) -- The Global Polymer Photovoltaic Cell Market Size Was Valued At USD 698.2 Mn In 2021. The Market Is Projected To Grow USD 1533.4 Mn In 2030, At A CAGR Of 25.6%. As per the latest research report published by Spherical Insights & Consulting. Asia Pacific region is dominating the market share of global polymer photovoltaic cell market owing to the growing number of consumer electronics industry and huge population around the region.
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Growing government initiatives and an increase in green building development are driving polymer solar cell use and, as a result, the worldwide polymer solar cell market. Rising awareness of renewable energy sources has resulted in increased use of renewable energy, which is another factor driving the growth of the polymer solar cells market. Other factors include market expansion by various key manufacturers to capitalize on new opportunities, increased focus on technological development, improved efficiency of polymer photovoltaic cells, rise in the electronic and electrical industry, boosting the use of polymer solar cells, expanding automobile industry presenting huge opportunities for solar cells, expanding construction industry where solar panels are encouraged on new buildings and developments, and expansion of the construction industry where solar panels are encouraged on new buildings and developments.
Countries all around the world are developing various solutions to combat climate change as part of their targets to reduce greenhouse emissions in the next years. Solar energy's contribution of the country's electricity output is predicted to rise from 2% in 2018 to 20% in 2030 in the United States. Polymer solar cells have the potential to replace present silicon PV technology, mainly in industrialized countries where new technology adoption takes less time than in poor countries, due to rapid advances and technological advantages over silicon PV.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report “Global Polymer Photovoltaic Cell Market Size, Share, And COVID-19 Impact Analysis; By Junction Type (Single Layer, Bilayer, Bulk Heterojunction, Others), By Technique (Printing, Coating), By End-Use (Residential, Commercial, Industrial (Building Integrated Photovoltaic, Automotive, Consumer Electronics, Aerospace & Defense & Others); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2021-2030” in detail along with the table of contents
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The bulk heterojunction segment has dominated the market share of the global polymer photovoltaic cell market in 2020 owing to the higher conversion efficiency and easier fabrication due to the considerably extended D/A interface. The printing held the largest market share in 2020 of the global polymer photovoltaic cell market attributing to the advent of solar cells on flexible and bendable substrates, the printing method has become a common tool for producing these devices. The industrial is categorized into building integrated photovoltaic, automotive, consumer electronics, aerospace & defense & others. The building integrated photovoltaic segment is dominated the market share in 2020 owing to its numerous benefits like availability of efficient light weight transparent devices and multifunctional as they can be adapted to a variety of surfaces (e.g. roofs, windows, walls) as an integrated solution, providing both passive and active functions.
Asia Pacific region is dominating the market share of global polymer photovoltaic cell market owing to the growing number of consumer electronics industry and huge population around the region. China is the leading producer of solar energy by installing 306 GW of photovoltaic (PV) capacity in 2020. The Chinese government have hugely subsidized on domestic solar projects enabling China’s solar energy capacity to rise gradually. For instance, in February 2022, according to Reuters, China is planning to add 75 to 90 GW of solar power in 2022.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Heliatek GmbH, Tata Power Photovoltaic Systems Limited, Trina Photovoltaic, SOLARWORLD Africa (Pty) Ltd, Evonik, SABIC, Suniva Inc, Jinko Photovoltaic, Alps Technology Inc, NanoFlex Power Corporation, American Reliance, Inc, ARMOR, Eni S.p.A, and Others Prominent Key Players.
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