Flexible Parylene-based Solar Cells Market: Introduction
- A flexible parylene-based solar cell is a kind of solar cell that converts solar energy into electric energy in order to power devices such as wearable electronics devices, calculators, and lighting systems
- Flexible parylene-based solar cells contain parylene both as the substrate and the overcoating. Also, they contain dibutyl phthalate (DBP), an organic material, as a key layer for absorption of light.
Key Drivers of Global Flexible Parylene-based Solar Cells Market
- In the recent years, the demand for portable electronics devices is rising significantly, primarily in developing as well as developed economies, due to increase in the per capita income and rise in the living standards of people. Clean forms of energy, such as solar power, are being harnessed for charging in portable electronics devices. This, in turn, is expected to propel the demand for flexible parylene-based solar cells during the forecast period. Thin, lightweight, and easy-to-handle nature of these cells is expected to boost the demand for flexible parylene-based solar cells in the portable electronics industry in the next few years.
- Technological innovations in solar cells with respect to design specifications and other developments, such as thin film technology, are also projected to trigger the adoption of flexible parylene-based solar cells in the next few years
- Increase in efforts to maintain the level of fossil fuel resources along with strict regulations to reduce greenhouse gas emissions by promoting the utilization of renewable resources is likely to drive the global flexible parylene-based solar cells market during the forecast period. Regulators have introduced several directives and rules so as to attain renewable targets and thereby, to minimize GHG emissions. For instance, policymakers across the European Union have aimed to reduce greenhouse gas emissions by 20% by the end of 2020 from the 1990 levels, enhancing the utilization of clean fuels.
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Electronics Industry Segment Expected to Hold a Major Share of Global Flexible Parylene-based Solar Cells Market
- The global flexible parylene-based solar cells market can be segmented based on end-user and region
- In terms of end-user, the global flexible parylene-based solar cells market can be segmented into health care, consumer goods, electronics, and others. The electronics segment is expected to witness considerable growth during the forecast period, due to rise in the demand for providing electricity to portable electronics devices such as mobile phones, watches, and calculators.
North America to Account for a Prominent Share of Global Flexible Parylene-based Solar cells Market
- In terms of region, the global flexible parylene-based solar cells market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The flexible parylene-based solar cells market in North America is expected to expand at a moderate CAGR during the forecast period. Growth of the market in the region can be ascribed to ongoing investments in research and development activities aimed to optimize the operational efficiency of solar cells.
- The flexible parylene-based solar cells market in Europe is projected to expand at a rapid CAGR during the forecast period. Shift in trend toward adoption of renewable technologies along with stringent regulations to minimize carbon emissions in Europe is anticipated to boost the market in the region during the forecast period.
- The flexible parylene-based solar cells market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Growth of the market in the region can be attributed to increase in consumer preference toward adoption of lightweight portable electronics devices, primarily in developing countries such as India and China. Increase in the purchasing power, strong economic growth, and rapid urbanization are some of the factors likely to boost the demand for portable electronics devices in Asia Pacific during the forecast period.
- The flexible parylene-based solar cells market in Latin America and Middle East & Africa is anticipated to expand at a rapid pace during the forecast period, owing to increase in the demand for thin and lightweight solar cells for power supply to portable electronics devices in these regions
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Key Players Operating in Global Flexible Parylene-based Solar cells Market
- The global flexible parylene-based solar cells market is undergoing the nascent stage and, hence, no manufacturer is currently operating in the market
Global Flexible Parylene-based Solar Cells Market: Research Scope
Global Flexible Parylene-based Solar Cells Market, by End-user
- Consumer Goods
- Health Care
Global Flexible Parylene-based Solar Cells Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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