A polymer solar cell is a flexible solar cell made up of large molecules that has repeating structural units, and produce electrical energy from sunlight by photovoltaic effect.
New York, NY -- (SBWIRE) -- 06/15/2017 -- Most of the commercial solar cells are made from a highly purified and refined silicon crystal, and these are similar to the material used for the manufacturing of computer chips and integrated circuits. The complex production process and high manufacturing cost of these silicon solar cells created interest of researches to generate alternative technologies. Compared to silicon solar cells, polymer solar cells are light in weight, easily disposable and less expensive to fabricate, customizable in its molecular level and have less environmental impact. Polymer solar cells can also exhibit transparency, suggesting applications in walls, windows, flexible electronics, etc. The alleviation and understanding of the degradation phenomena is a prerequisite for successful application of polymer solar cells. The polymer solar cells market is anticipated to witness a healthy CAGR in the forecast period.
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The rising market of solar panels and cost efficiency of solar panels in the electricity generation as compared to other sources of energy is driving the polymer solar cells market. Also the improved efficiency of polymer solar cells and less time required to produce the electricity as compared to other electricity generation technologies further contributes in the growing polymer solar cells market. Moreover, the increasing concerns amongst people for eco-friendly products is bolstering the polymer solar cells market.
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However, there are some disadvantages of this technology that includes its degradation during dark and in illumination, and this contrasts the silicon inorganic semiconductors based photovoltaics. Also there are issues of stability and efficiency of polymer solar cells as compared to its counterparts solar cells. All these factors can slowdown the growth of polymer solar cells market.
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The global polymer solar cells market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. North America is a dominant region in the global polymer solar cells market owing to its presence in the energy and power sector. Asia Pacific ranks second in the market share of global polymer solar cells market because of the growing electronics and electrical industry. The flourishing automobiles industry in Europe is the major cause to map this region in the global polymer solar cells market. Latin America is also gaining importance in this market due to the investments of this region in the energy and power sector. Middle east and Africa is at a nascent stage in the global polymer solar cells market but is anticipated to have a considerable CAGR in the forecasted period.