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Polymer solar cells are a special category of flexible solar cells made up of large polymeric molecules that produce electricity from sunlight using the photovoltaic effect. Generally, organic molecules are used in the construction of polymers solar cells and thus these are also termed as organic solar cells. There are several other types of polymer solar cells including the stable amorphous silicon type, which is most commercially used and is made up of highly purified silicon crystals. The optical absorption coefficient of these polymeric molecules is on the higher side. These solar cells are lightweight, easily disposable, and customizable on a molecular level.
COVID-19 scenario analysis:
The outbreak of the COVID-19 in pandemic has severely impacted the global polymer solar cells market.
The steady growth in the technological innovations across the globe has led to a surge in demand for sustainable and eco-friendly sources of energy. The photovoltaic sector is one of the most trending renewable energy technologies, which use solar energy to create electricity. One of the major factors responsible for the growing popularity of polymer cells market over other varieties of photovoltaic cells is the cost effectiveness and easy to fabricate properties. Polymer photovoltaic cells can be applied on windows and walls and even on flexible electronics and other wearables. Moreover, the eco-friendly nature of the polymer solar cells is making it a popular choice among the major end-user industries. The key manufacturers of the polymer solar cells market are investing more on the R&D. They are aiming to produce better and more efficient polymer photovoltaic cells to meet the growing demand for clean energy in the market. However, several issues including less thermal stability and inability to produce energy for a long duration limit the market growth.
Market in the North America region holds the major share of the polymer solar cells market owing to the increase in number of renewable energy projects in the region. The market in the Asia-Pacific region is also expected to witness lucrative growth due to the presence of large number of electronics industries and the high demand for sustainable energy sources for the numerous electronic devices used in the region.
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Key Market Segments
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