Thin Film Photovoltaic Cells Market Future Demand Analysis with Forecast 2024

The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.

They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.

Thin Film Photovoltaic Cells Market – Overview

Evolving from the first ones, thin film photovoltaic cells of today display efficiencies that rivals that of conventional first-generation crystalline silicon solar cells. Previously, early generation amorphous silicon (a-Si) that were flexible and lightweight, provided extremely low power efficiency. This amounted only 5 to 6% of the sun’s energy to be converted into electricity.

However, slenderness of thin film photovoltaic cells ranging from few nanometers to tens of micrometers served to provide advantages of flexibility and low weight. This, along with peel-and-stick adhesive application of a-Si modules thin film solar cells does not require racking assembly.

Displaying such attributes, manufacture of building integrated photovoltaics and photovoltaic glazing material are some key applications of thin film photovoltaic cells. Structurally, thin film solar cells comprise one or more layers of photovoltaic material on a substrate such as plastic, glass, or metal.

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The upcoming report on thin film photovoltaic cells market provides all-important analysis of demand drivers and growth trends that are likely to make an impact on the said market for the forecast period between 2016 and 2024. The entire analysis of thin film photovoltaic cells market is presented pictorially using an array of graphs and graphical representations. This enables easy comparison for market stakeholders for participation in the thin film photovoltaic cells market.

Thin Film Photovoltaic Cells Market: Notable Developments and Competitive Landscape

  • In a new development, Evergreen Solar Services – a key company in the thin film photovoltaic cells market has taken up to supervise a solar project under development. Within the arrangement, Evergreen Solar will work under the aegis of Irish energy developer BNRG Renewables for a solar project in Oregon. The rights of resultant 9.27MW solar energy have been bought by New York-based Greenbacker Renewable Energy. Meanwhile, the Oregon solar project comprises three in-construction ground mounted projects to be commissioned between November 2019 and January 2020.

Key players operating in the thin film photovoltaic cells market include First Solar, Trony Solar, Solar Frontier, Kaneka Solartech Co. Ltd., Sungen International, Greenshine New Energy, China Sunenergy, Sharp, NextPower, Inventux Tech AG, Bosch, Canadian Solar, and Evergreen Solar.

Thin Film Photovoltaic Cells Market: Key Trends

Massive efforts to harness renewable energy, including solar energy to offset burden on non-renewable energy sources is among few key factors fuelling demand for thin film photovoltaic cells. Functionally, thin films solar cells display high absorption coefficient thus require very less amount of active material.

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Among a slew of active materials, thin film solar cells based on cadmium telluride holds the leading share in thin films photovoltaic cells market. This is mainly because cadmium telluride serves as a viable low-cost alternative to conventional silicon-based photovoltaic cells. In terms of source, cadmium-telluride is produced as a byproduct of mining, refining, and smelting of zinc, copper, and lead.

Besides this, cadmium-telluride based thin film photovoltaic technology is economical in terms of water use. Among all solar energy technologies, cadmium telluride requires least amount of water for energy production.

Conversely, electricity generated using cadmium-telluride based photovoltaic cells is expensive. So much so, electricity generated from cadmium-telluride based photovoltaic cells is found to be nearly equal in cost to that generated using fossil fuels.

Thin Film Photovoltaic Cells Market – Geographical Analysis

The thin film photovoltaic cells market is divided into four key regions, namely North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific displays substantial demand for thin film photovoltaic cells due to rapid development of green energy. China, Japan, and India are key consumers of thin film photovoltaic cells market in the region due to efforts to minimize burden on non-renewable energy sources.

Nonetheless, powered by the U.S., North America commands large share in thin film photovoltaic cells market. The U.S., for example, is the global leader for the manufacture of cadmium-telluride (CdTe) based photovoltaic cells.

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