Organic Polymer Electronic Market Size, Share, Growth, and Industry Growth, By Type (Semiconductors, Conductors, Dielectrics), By Application (Display, Photovoltaic, Lighting, Electronic Components & Integrated System, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Organic Polymer Electronic Market REPORT OVERVIEW

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The global organic polymer electronic market size was USD 40440 million in 2022 and is projected to grow USD 152821.64 million by 2031, at a CAGR of 15.9% during the forecast period.

The sudden spike in CAGR is attributed to demand returning to pre-pandemic levels once the pandemic is over.

Organic polymer electronics are materials that are concerned with the design, synthesis, and characterization of organic molecules or polymers showing desirable electronic properties such as conductivity. Organic polymers are carbon-based molecules or polymers. The benefit of organic electronics is their low-cost compared to traditional electronics that lack modern-day features of organic polymers, such as mechanical flexibility. Both organic synthesis and advanced dispersion can be used for electrical properties of organic, conductive polymers, unlike typical inorganic conductors.

Organic solar cells cut the cost of solar power compared to traditional l solar-cell manufacturing. Silicon solar cells on flexible substrates allow a significant cost reduction of large-area photovoltaics. The deposition on loose sheets is much easier to realize in terms of technological effort compared to residue on fragile and heavy glass sheets. Transporting and installing lightweight, flexible solar cells also saves costs compared to glass cells. Organic electronics possess the potential for applications in low-cost, flexible, and large-area electronic devices such as radio-frequency identification tags and biochemical sensors.

COVID-19 Impact: Reduced Demand amid Pandemic Staggered Growth

As the demand for electric vehicles and sustainable options amidst the pandemic decreased, the organic polymer electronic market was affected severely during the last two years. The fall in demand for lighting and integrated systems due to the market slump was another major factor that staggered the market growth. Solar and photovoltaic cells have immense benefits, but the pandemic made it impossible to explore these options. However, the market is experiencing an unprecedented boom in demand post the pandemic.

LATEST TRENDS

"Bio-based Technology to Reduce Carbon Emissions"

The latest innovation is the use of bio-based polymer technologies. High-performing resins based on sustainable raw materials are being created to turn the tide on global resource exhaustion. This will reduce the environmental footprint and is vital, as the ecosystem has been brought to a breaking point, and polymeric technology is being redesigned. An ongoing trajectory of innovation, from solvent-borne coatings to bio-based resins, offers the same performance while using more responsible and sustainable raw materials. These innovations will drive market growth.

Organic Polymer Electronic Market SEGMENTATION

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• By Type

Based on the types, the market categorizes into semiconductors, conductors, and dielectrics.

• By Application

Based on the applications, the market categorizes display, photovoltaic, lighting, electronic components & integrated systems, and others.

DRIVING FACTORS

"Environment-friendly Uses to Boost Market Growth"

Sustainable and environment-friendly uses of organic polymer electronics in solar cells, photovoltaics, lighting, and integrated systems are highly beneficial. They will increase the organic polymer electronic market growth as consumers and companies seek to reduce their carbon footprints. Organic polymers convert light into electricity, which can help electrify many regions lacking efficient energy resources. Organic polymer electronics is a promising technology as it allows for high-throughput manufacturing of eco-friendly, ultra light weight, flexible devices with various electronic functionalities. Thus, investors must look out for sustainable and diverse environment-friendly options.

"Innovations in the Market to Accelerate Growth"

Organic electronics have benefited from the development of hybrid and nanocomposite materials. These materials will lead the way in reducing the cost of future electronics, provide an array of properties to enhance the performance of existing organic electronic devices, and provide a basis for the production of novel electronic technologies. The production of hybrid and nanocomposite systems has already improved the previous generation of organic semiconductor devices. Because of the potentially wide range of available organic semiconductors, there is immense scope for the future of organic electronics.

RESTRAINING FACTORS

"Natural Conditions to Affect Electronic Devices"

Organic electronics suffer from various stresses such as cyclic bending/stretching, humidity, and solar irradiation under operating conditions, accelerating the degradation of organic electronics. Thus, it is essential to consider the impacts of these conditions when analyzing mechanical reliability. The devices and constituent layers must be tested under cyclic strain and assessed to ensure mechanical reliability. The cumulative damages such as decohesion and delamination during cyclic deformation could involve a higher risk of catastrophic fracture that often occurs faster with more cracks. Thus, investors must consider these factors.

Organic Polymer Electronic Market REGIONAL INSIGHTS

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"North America to Lead Market Share Owing to Increased Demand for EVs"

Organic polymer electronics have wide-ranging applications in the Electronic Vehicles (EV) industry, as they are highly used in semiconductors and sustainable, user-friendly cell components. Most vehicular giants are based in North America, so the organic polymer electronic market share will soon boom. The high demand post-pandemic is also a factor that will affect the industry's market growth. The investors must thus keep an eye on the region for significant industry developments and mergers.

KEY INDUSTRY PLAYERS

The report analyzes different market players in the industry, and the information is published after proper research, analysis of trends, key developments, new initiatives, and technological developments and innovations. Other aspects of the report include research on companies, regions, technical and environmental outcomes, and newly emerging industries' impact and risks. The facts in the information may be subject to change, given the situation of market players from time to time. North America will lead the industry with the largest share.

List of Market Players Profiled

• AU Optronics (Taiwan)
• BASF (Germany)
• Bayer Materialscience (Germany)
• DuPont (U.S.)
• Merck Kgaa (Germany)
• Novaled (Germany)
• Papago (U.S.)
• Universal Display (U.S.)
• FlexEnable (U.K.)
• LG (South Korea)
• Samsung Display (South Korea)
• Koninklijke Philips (Netherlands)

INDUSTRY DEVELOPMENT

June 2022: South-Korea based LG acquired the EV charge maker Apple Mango. The development will help LG to add digital signage technologies to create a user-friendly interface and control management. According to the company, the move will create synergy with its ongoing efforts in the area of vehicle components along with developing energy management solutions. The Korean company's subsidiary LG Magna e-Powertrain has also become a supplier to General Motors in recent months.

REPORT COVERAGE

The report examines elements that affect the demand and supply and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, the latest trends, and industrial developments. After evaluating financial and technical market factors, the report provides exhaustive PEST and SWOT analysis. The research is subject to alteration if crucial players and analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.