Organic Polymer Electronics Market- Growth, Trends, and Forecast (2022 - 2027)

Organic Polymer Electronics Market- Growth, Trends, and Forecast (2022 - 2027)

The Organic Polymer Electronics Market was valued at USD 37.16 billion in 2020, and it is expected to reach USD 137.95 billion by 2026, registering a CAGR of 24.5% during the forecast period (2021-2026). Organic electronic devices are likely to become a low-cost alternative to the traditional inorganic electronic applications, due to low material utilization (use of materials that are synthesized, rather than mined from the earth) and simple processing. Since organic electronic devices are more energy-efficient and eco-friendly than today’s electronics, these devices contribute to a more sustainable electronic world. Therefore, companies are likely to switch to organic electronic devices in their product manufacturing. They find application in varied industries namely display, lighting, photovoltaic and others.

The need for reduction of cost of production, weight and power consumption of electronic goods are the key factors driving the market. For instance, the global demand for TV sets in 2017 has gone up by almost a million TV sets compared to last year and is expected to increase because of the emerging markets in Asia. Similarly, the demand for other flexible electronic goods required in healthcare, government and other sectors are expected to grow, which would drive the growth of the organic polymer electronics market.

However, non-compatibility with conventional electronic goods and lack of robustness due to small life and possible degradation under environmental influences are the major reasons that hinder the growth of the market.

Key Market TrendsOrganic Display Has The Largest Share In The Market Presently.

• Growing display applications across various application areas, such as automotive, mobile devices, healthcare, and consumer electronics, will likely lead to the growth of organic electronics polymer market.
• At present, LCD is reported to be the most prominent display technology in the market, and innovation has led to the development of organic LCDs (OLCD), which are driven by an enhanced version of the technology, and are a viable option for mobile devices.
• Flexibility and thinner screen sizes are some of the most prolific advantages of these displays, which make them a feasible alternative for mobile devices. There exists a need for flexible displays, especially OLED that are ultra-lightweight and thin enough to be rolled around a pencil for innovative applications.
• Changing consumer lifestyles and advances in connectivity technologies are leading to the wide adoption of smart devices. These factors are also prompting more companies to enter the market. Flexible organic LCD (OLCD) is a solution for adding active matrix displays to the smart devices, as it can be curved, shaped, and wrapped around surfaces, enabling different form factors. OLCDs, which are being scalable to large applications, can satisfy the needs for integrating display in many larger devices.
• Due to the emissive nature OLED microdisplays, they are particularly suited for see-through NTE augmented-reality (AR) smart glasses, as they prevent a virtual grey-shaded monitor-like perception inside the user’s field of view, caused by the insufficient backlight suppression of nonemissive microdisplays.
• Apart from this, OLED microdisplays also provide exceptional contrast and color space, thus making it a perfect fit for near-eye applications.
• The main reason for the usage of OLED microdisplays in near-eye display inspection, as compared to ordinary displays, e.g., phone displays, is mainly due to additional optics that enable the user to see the defects as if through a magnifying glass.

North America Has The Largest Share In The Market Presently.

• The United States is a pioneer in the technology space across the world. High technology exposure and easy availability of devices have created a strong market for smart devices in this region. Most of the companies advancing in this technology are based in the United States. Leading players, like Microsoft and Magic Leap, are actively working on this technology, using the United States as their base.
• The United States is expected to be one of the fastest-growing markets in the world for augmented reality (AR) & mixed reality (MR) in the near future. It is one of the largest markets for the media and entertainment industry as well. For example, Microsoft HoloLens is a breakthrough in the mixed reality technology.
• Microsoft Hololens was first released in the United States and Canada and has received a positive response from the consumers in the region. The company announced that it has sold thousands of units during the first three months, even with the device being targeted at enterprise users. Thus, the technology is expected to see healthy growth in the country.
• Organic photovoltaic can potentially cut way down on the solar energy system cost, making solar a ubiquitous clean energy source.

Competitive Landscape

The Organic Polymer Electronics Market is concentrated due to High entry barriers and Huge initial investments. Some key players in the market are Au Optronics Corporation, BASF, Bayer MaterialScience AG, E. I. Du Pont De Nemours And Company, Universal Display Corporation (UDC), FlexEnable, ISORG.

Some key developments in the market are:

• BASF started a new production line of Ultrason in Yeosu, Korea. This extension is to serve the growing global demand for high-performance thermoplastic in the automotive, electronics, and water filtration industries.
• BASF presented its Inkset 2000SL and a new demonstrator at printed electronics US.
• BASF and ILJIN launched world’s first steel-plastic hybrid suspension arm for new electric vehicles, made with a high-performance polymer from BASF.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Au Optronics Corporation
Basf SE
Bayer MaterialScience AG
DuPont (E. I. Du Pont De Nemours and Company)
Merck Kgaa
Novaled Gmbh
Sumitomo Corporation
Universal Display Corporation (UDC)
FlexEnable Ltd
LG Corporation
Samsung Display
Koninklijke Philips N.V.

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