Dye Sensitized Solar Cell Market

Dye Sensitized Solar Cell Market

Dye Sensitized Solar Cell Market Forecasts to 2030 - Global Analysis By Product (Software, Services, Materials and Other Offerings), Process (Material Extrusion, Powder Bed Fusion, Material Jetting, Vat Photo Polymerization, Binder Jetting and Other Processes), Technology, Application, End User and By Geography

4.0 (48 reviews)
4.0 (48 reviews)
Published: 2023 ID: SMRC23876

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Dye Sensitized Solar Cell Market is accounted for $155.01 million in 2023 and is expected to reach $397.50 million by 2030 growing at a CAGR of 14.4% during the forecast period. The class of thin-film solar cells that dye-sensitized solar cells (DSSC) are a part of is made of molecularly dyed titanium dioxide nanoparticles and aids in absorbing sunlight. The photo electrochemical system that results from the formation of a semiconductor between a photo-sensitized anode and an electrolyte is the foundation of the DSSC. Moreover, a metal oxide semiconductor and a dye that absorbs light make up this solar cell. The dye is energized by solar radiation and transfers this energy to the metal oxide, which then produces electricity.

According to the International Renewable Energy Agency, the installed capacity of solar photovoltaic (PV) cells in the U.S. stood at 1,614 MW in 2009 and increased to 75,572 MW in 2020. According to the U.S Office of Energy Efficiency & Renewable Energy, by 2030 more than 1 in 7 U.S. homeowners will have solar roof systems.

Market Dynamics:


Efficiency in energy use and sustainability

DSSCs are renowned for their energy efficiency, and because of their superior photon-to-electron conversion efficiency, they can produce electricity even in low-light situations. Additionally, their sustainability is what motivates people to adopt them. When switching to cleaner energy systems, DSSCs are a desirable option because they provide a renewable energy source that lowers the carbon footprint. Their low embodied energy, or the ratio of the energy used in their manufacture to the energy they produce over their lifetime, adds to their sustainability profile.


Lower efficiency than silicon solar cells

In terms of energy conversion efficiency, DSSCs have historically lagged behind silicon-based solar cells, primarily because they have lower photon-to-electron conversion rates. This limitation limits their use in large-scale solar installations, where it is crucial to maximize energy output within a constrained footprint. DSSC efficiency is actively being improved by ongoing research, but the path to better performance is not without its challenges. The incorporation of more complex engineering and advanced materials is frequently necessary to increase efficiency, complicating DSSC designs. Furthermore, these developments might result in higher production costs, which might put DSSCs' cost-effectiveness in the shadow of more established solar technologies.


Wearable technology and consumer electronics

A promising opportunity exists for DSSCs in the growing market for wearable and portable electronics. Due to their lightweight and flexible construction, they can be easily incorporated into consumer goods like smartphones, smart watches, outdoor clothing, and equipment. Moreover, DSSCs can also lessen the frequency with which these devices need to be recharged, improving user convenience and lowering the environmental impact of disposable batteries by extending the life of the batteries in these devices or providing additional power. Consumers and the long-term viability of electronic devices benefit from this.


Competition from silicon-based solar cell

The silicon-based solar cells that have long dominated the solar energy market present DSSCs with formidable competition. Due to silicon solar technology's higher energy conversion efficiencies, proven dependability, and economies of scale, it is difficult for DSSCs to capture a sizable portion of the market. Additionally, efficiency is crucial in large-scale solar installations, where DSSCs frequently find it difficult to successfully compete. It's critical to highlight the distinctive benefits of DSSCs, such as flexibility and architectural integration, in order to counter this threat and locate markets where they can succeed.

Covid-19 Impact:

The dye-sensitive solar cell (DSSC) market was significantly impacted by the COVID-19 pandemic in a number of ways. On the one hand, challenges presented by disruptions in global manufacturing and supply chains caused temporary slowdowns in production and distribution. Positively, the pandemic has hastened the switch to renewable energy sources, such as DSSCs, as nations and businesses work to create more resilient and sustainable energy systems. Furthermore, DSSCs, with their potential for architectural integration and decentralized energy generation, gained attention as a component of the solution as awareness of environmental issues grew.

The synthetic dye sensitizers segment is expected to be the largest during the forecast period

During the forecast period, the synthetic dye sensitizers segment is anticipated to hold the largest market share. When compared to natural dye sensitizers, synthetic dyes often have higher efficacy due to their precision control over their properties, stability, and other factors. Because of their chemical structures' adaptability, it is possible to tailor their light absorption and electron transfer characteristics, which boosts DSSC performance. Moreover, synthetic dyes are also less prone to environmental degradation, which can increase the robustness and longevity of DSSCs. As a result, the dominance of synthetic dye sensitizer technology in the market has been influenced by these elements.

The Building Integrated Photovoltaic (BIPV) segment is expected to have the highest CAGR during the forecast period

During the anticipated period, the Building Integrated Photovoltaic (BIPV) segment had the highest CAGR. Direct integration of solar panels into building components and structures, such as roofs, facades, and windows, is known as BIPV. Moreover, this novel method not only produces renewable energy but also improves building aesthetics and lessens construction's carbon footprint. BIPV solutions have gained a lot of traction as the focus on sustainable and energy-efficient buildings has increased, especially in areas encouraging the use of renewable energy sources.

Region with largest share:

In the dye-sensitive solar cell (DSSC) market, North America is anticipated to account for the largest share. This was mainly brought about by increased investments in renewable energy technologies, a rise in the importance of sustainability, and the incorporation of DSSCs into various applications. For architectural integration, portable electronics, and military applications, DSSCs have attracted a lot of interest, particularly in the United States. Also, contributing actively to the creation and innovation of the DSSC were research organizations and businesses in North America.

Region with highest CAGR:

The Asia-Pacific region is anticipated to have lucrative growth during the forecast period. Factors like the region's expanding manufacturing capacities, especially in nations like China and South Korea, where significant investments were made in renewable energy technologies, were the main drivers of this robust growth. Additionally, the adoption of DSSCs in consumer electronics and building-integrated photovoltaics, along with Asia-Pacific's growing awareness of environmental sustainability, contributed to its remarkable growth.

Key players in the market

Some of the key players in Dye Sensitized Solar Cell Market include 3GSolar, Ltd., Everlight Chemical Industrial Corp., Exeger Operations AB, Fujikura Ltd., G24 Power Ltd., Greatcell Energy, Merck Group, Nissha Co., Ltd., Oxford Photovoltaics, Peccell Technologies, Inc., Renesas Electronics Corporation., Sharp Corporation, Sinovoltaics Group Limited, Solaris Nanosciences, Sony Corporation and The Ricoh Company, Ltd.

Key Developments:

In July 2023, Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, and Wolf speed, Inc., the global leader in silicon carbide technology, today announced the execution of a wafer supply agreement and $2 billion (USD) deposit by Renesas to secure a 10 year supply commitment of silicon carbide bare and epitaxial wafers from Wolf speed.

In May 2023, Sony Corporation and Astellas Pharma Inc. today announced that they have entered into a collaborative research agreement to discover a novel Antibody-Drug Conjugate *1 platform in oncology based on Sony's unique polymeric material, "KIRAVIA™*2 Backbone*3." ADC is expected to selectively deliver anti-cancer drugs to target cells, thereby increasing efficacy and reducing side effects caused by anti-cancer drugs attacking normal cells.

In May 2023, Australia’s largest solar distributor, OSW, has announced a partnership with Japanese residential PV module manufacturer Sharp, which has more than 60 years of experience in the global solar industry. The new distribution arrangement between the two companies promises to deliver high-quality solar products and services to Australian residents. OSW offers a wide range of solar products, including PV panels, inverters, EV chargers and solar storage options, with six warehouses located across Australia.

Types Covered:
• Natural Dye Sensitizer
• Synthetic Dye Sensitizer
• Other Types

Applications Covered:
• Portable Charging
• Building Integrated Photovoltaic
• Embedded Electronics
• Automotive Integrated Photovoltaic (AIP)
• Building-Applied Photovoltaic’s (BAPVs)
• Outdoor Advertising
• Solar Chargers
• Wireless Keyboards
• Emergency Power in Military
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Dye Sensitized Solar Cell Market, By Type
5.1 Introduction
5.2 Natural Dye Sensitizer
5.2.1 Dye of Chlorophyll
5.2.2 Dye of Anthocyanin
5.2.3 Dye of Beta-Carotene
5.2.4 Dye of Betanin
5.2.5 Other Natural Dye Sensitizers
5.3 Synthetic Dye Sensitizer
5.3.1 Cobalt-Based Dyes
5.3.2 Porphyrin-Based Dyes
5.3.3 Ruthenium-Based Dyes
5.3.4 Tetrahydroquinoline-Based Dyes
5.3.5 Azo Dyes
5.3.6 Perylene-Based Dyes
5.3.7 Thiacyanine Dyes
5.3.8 Triphenylamine-Based Dyes
5.3.9 Other Synthetic Dye Sensitizers

6 Global Dye Sensitized Solar Cell Market, By Application
6.1 Introduction
6.2 Portable Charging
6.3 Building Integrated Photovoltaic
6.4 Embedded Electronics
6.5 Automotive Integrated Photovoltaic (AIP)
6.6 Building-Applied Photovoltaics (BAPVs)
6.7 Outdoor Advertising
6.8 Solar Chargers
6.9 Wireless Keyboards
6.10 Emergency Power in Military
6.11 Other Applications

7 Global Dye Sensitized Solar Cell Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa

8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies

9 Company Profiling
9.1 3GSolar, Ltd.
9.2 Everlight Chemical Industrial Corp.
9.3 Exeger Operations AB
9.4 Fujikura Ltd.
9.5 G24 Power Ltd.
9.6 Greatcell Energy
9.7 Merck Group
9.8 Nissha Co., Ltd.
9.9 Oxford Photovoltaics
9.10 Peccell Technologies, Inc.
9.11 Renesas Electronics Corporation.
9.12 Sharp Corporation
9.13 Sinovoltaics Group Limited
9.14 Solaris Nanosciences
9.15 Sony Corporation
9.16 The Ricoh Company, Ltd

List of Tables
1 Global Dye Sensitized Solar Cell Market Outlook, By Region (2021-2030) ($MN)
2 Global Dye Sensitized Solar Cell Market Outlook, By Type (2021-2030) ($MN)
3 Global Dye Sensitized Solar Cell Market Outlook, By Natural Dye Sensitizer (2021-2030) ($MN)
4 Global Dye Sensitized Solar Cell Market Outlook, By Dye of Chlorophyll (2021-2030) ($MN)
5 Global Dye Sensitized Solar Cell Market Outlook, By Dye of Anthocyanin (2021-2030) ($MN)
6 Global Dye Sensitized Solar Cell Market Outlook, By Dye of Beta-Carotene (2021-2030) ($MN)
7 Global Dye Sensitized Solar Cell Market Outlook, By Dye of Betanin (2021-2030) ($MN)
8 Global Dye Sensitized Solar Cell Market Outlook, By Other Natural Dye Sensitizers (2021-2030) ($MN)
9 Global Dye Sensitized Solar Cell Market Outlook, By Synthetic Dye Sensitizer (2021-2030) ($MN)
10 Global Dye Sensitized Solar Cell Market Outlook, By Cobalt-Based Dyes (2021-2030) ($MN)
11 Global Dye Sensitized Solar Cell Market Outlook, By Porphyrin-Based Dyes (2021-2030) ($MN)
12 Global Dye Sensitized Solar Cell Market Outlook, By Ruthenium-Based Dyes (2021-2030) ($MN)
13 Global Dye Sensitized Solar Cell Market Outlook, By Tetrahydroquinoline-Based Dyes (2021-2030) ($MN)
14 Global Dye Sensitized Solar Cell Market Outlook, By Azo Dyes (2021-2030) ($MN)
15 Global Dye Sensitized Solar Cell Market Outlook, By Perylene-Based Dyes (2021-2030) ($MN)
16 Global Dye Sensitized Solar Cell Market Outlook, By Thiacyanine Dyes (2021-2030) ($MN)
17 Global Dye Sensitized Solar Cell Market Outlook, By Triphenylamine-Based Dyes (2021-2030) ($MN)
18 Global Dye Sensitized Solar Cell Market Outlook, By Other Synthetic Dye Sensitizers (2021-2030) ($MN)
19 Global Dye Sensitized Solar Cell Market Outlook, By Application (2021-2030) ($MN)
20 Global Dye Sensitized Solar Cell Market Outlook, By Portable Charging (2021-2030) ($MN)
21 Global Dye Sensitized Solar Cell Market Outlook, By Building Integrated Photovoltaic (2021-2030) ($MN)
22 Global Dye Sensitized Solar Cell Market Outlook, By Embedded Electronics (2021-2030) ($MN)
23 Global Dye Sensitized Solar Cell Market Outlook, By Automotive Integrated Photovoltaic (AIP) (2021-2030) ($MN)
24 Global Dye Sensitized Solar Cell Market Outlook, By Building-Applied Photovoltaics (BAPVs) (2021-2030) ($MN)
25 Global Dye Sensitized Solar Cell Market Outlook, By Outdoor Advertising (2021-2030) ($MN)
26 Global Dye Sensitized Solar Cell Market Outlook, By Solar Chargers (2021-2030) ($MN)
27 Global Dye Sensitized Solar Cell Market Outlook, By Wireless Keyboards (2021-2030) ($MN)
28 Global Dye Sensitized Solar Cell Market Outlook, By Emergency Power in Military (2021-2030) ($MN)
29 Global Dye Sensitized Solar Cell Market Outlook, By Other Applications (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.