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Market for Organic Photovoltaic Panels will Reach over $355M by 2021
April 20, 2016 | n-tech ResearchEstimated reading time: 2 minutes
Industry analyst firm n-tech Research today announced the release of a new report titled “Organic Photovoltaics Markets 2016-2025” that states that the market for organic photovoltaics (OPV) used for building integrated photovoltaics (BIPV), solar chargers and off-grid energy generation will exceed $355 million by 2021 and reach more than $580 million by 2025.
n-tech has provided market analysis of OPV, DSC and other PV technology platforms for more than a decade and bring this insider perspective to the analysis in this report.
About the report:
The long-term business prospect for OPV still looks good due to OPV’s potential for customization, manufacturability, flexibility, and light weight; all highly desirable characteristics in a solar panel. Conversion efficiencies and lifetimes for OPV continue to improve and, although still well below those of conventional silicon solar panels, are becoming good enough to support a business case for demanding applications like BIPV.
This report, which identifies the current and future commercial potential of OPV, pinpoints the opportunities that n-tech sees emerging in the OPV space over the next decade. What n-tech is seeing currently for OPV is primarily low-performance applications for solar charging and off-the-grid use. But we believe there will soon be a larger and more lucrative market for OPV, used in BIPV.
With this in mind, this report shows how the latest technical developments in OPV materials and cell/module innovation in cell and module design is moving OPV towards significant deployment in BIPV applications. It also discusses how OPV can compete effectively against its direct competitors -- DSC/perovskite and CIGS. In addition, the report contains strategic profiles of the leading firms in the OPV space including an assessment of their marketing and manufacturing segment.
The new study also contains detailed ten-year market forecasts of OPV in revenue and volume terms with breakouts by end-user sector and by materials used. Also included is coverage of the product/market strategies of leading firms in this sector including: 3M, Allnex, Armor, Asahi Glass, Azuri Technologies, Belectric, Bischoff Glastechnik, Bosch, Corning, CSEM Brasil, Eight19, Heliatek, Heraeus, infinityPV, Merck, Mitsubishi Chemicals, Next Energy, NanoFlex, Ossila, Riken, Samsung, Sumitomo Chemical, Toshiba
Highlights:
For now installations of OPV can be found in a few low-margin novelties and chargers. While such products will never amount to a substantial business ($60 million or so in revenues in 2021), n-tech believes this low-performance sector fits with the capabilities of today’s OPV and will help enable OPV firms make a start as fully-fledged commercial organizations.
There are already a handful of BIPV installations around the world, but n-tech expects revenues from OPV-enabled BIPV to reach around $290 million by 2021. For this to happen, however, OPV firms must improve considerably on today’s lifetimes. n-tech is seeing considerable progress in this area, with at least one OPV firm saying that it will be able to offer 10-year lifetimes for its OPV panels in a couple of years.
Enable such advanced markets as BIPV to emerge, n-tech expects major improvements in manufacturing and materials to occur in the OPV space. This would include, for example, R2R manufacturing of tandem OPV modules, and improved encapsulation. However, n-tech also expects to see entirely new directions emerge in OPV materials. Two new materials directions for OPV that are discussed in this report in depth are (1) graphene as a photoactive layer, and new acceptor materials that swap out expensive and limited-capability fullerenes with other active layers. n-tech expects that the value of OPV materials sold in 2021 will amount to almost $100 million.
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