GLEN ALLEN, USA: Industry analyst firm NanoMarkets has just published a new report titled, Materials, Applications and Opportunities in Organic Photovoltaics that continues the firm’s coverage of thin-film and organic photovoltaics markets. In its latest report, the firm says that the OPV market will generate $387 million in revenues by 2016 up from $56 million in 2011.
The firm recently released reports on dye sensitized cells (DSC) released earlier this month and on encapsulation and substrates for organic photovoltaics.
Findings from the report:
Since NanoMarkets issued its last report on OPV in 2010 there has been a growing recognition that OPV is a niche technology and so the industry has shifted focus towards small markets where the technology has something immediate to offer. OPV is expected to find a sizeable market in the portable power market with this application consuming $250 million in 2016. BIPV glass will use $113 million of OPV in 2016.
The report notes that OPV has come a long way from when it offered just a few percent efficiency to the 8 percent efficiency available on champion cells today. NanoMarkets notes that Mitsubishi expects to see OPV champion cells reach 15% efficiency by 2015.
OPV continues to attract both start-ups and investments and NanoMarkets claims that growth for OPV will largely be enabled by improved materials including specialize donor/acceptor materials that play to OPV’s strength such as the ability of OPV to function well under indoor lighting. NanoMarkets estimates that OPV materials markets will grow to almost $200 million by 2016, but with half of these revenues coming from encapsulation and substrate materials, reflecting the vulnerability of OPV to oxygen and water vapor in many of the niches it serves