Organic Electronic Market Outlook 2031
The global organic electronic market size was valued at USD 50.38 Billion in 2022 and is likely reach to USD 239.27 Billion by 2031, expanding at a CAGR of 18.9% during the forecast period 2023 - 2031. The growth of the market is attributed to the increased functionality of organic electronics to overcome power consumption challenges and rising demand for consumer electronic products.
Organic electronics are types of electronics adopted for high performance devices in applications such as display, photovoltaic, lighting, and smart integrated systems. The organic electronics market is a constantly evolving and significantly growing due to technological development and advancement in microelectronics research.
It involves a process of applying organic molecules or polymers to improve the properties of electronic materials such as conductivity, flexibility, and durability.
Some key aspects for rising demand for organic electronics are because of its low-cost alternative and simple processing methods to the conventional electronic materials.
The market witnesses a rapid introduction of technological advancement and to stay intact in the competitive market, manufacturers are producing high-tech products using organic materials such as dielectric, semiconductor, and other conductive materials.
Having advanced properties including high mechanical flexibility and electric conductivity, the organic electronic materials are widely used in the manufacturing of products such as portable solar cells, colored light source, smartphone displays, and curved HD TVs. It has a wide range of applications especially in the fields such as environmental health, biomedical research, and IT.
For instance, biomedical applications such as neuron interfacing is developed using enhanced biocompatibility of organic materials. Moreover, transparent organic transistors can sense and stimulate electrical activities of cultured neurons that holds a core theme for neurophysiology.
Organic Electronic Market Drivers, Restraints, Trends, and Opportunities
- Rapid growth in the consumer electronics industry and increasing applications of organic electronics for production of various products are some of the major factors projected to drive the market organic electronic growth.
- Increasing demand for energy saving electronic materials and yet offering high conductivity solution considering the importance of sustainable development is expected to boost the organic electronic market growth.
- Increase in R&D activities and technological advancement to ensure innovative electronic items production are expected to create lucrative opportunities for the organic electronic market expansion during the forecast period.
- Lack of robustness such as less thermal stability, degradation of efficiency, and high cost of organic electronic materials are the key challenges that can restrain the organic electronic market growth during the forecast period.
- The COVID-19 pandemic has adversely affected the global organic electronics market. Manufacturing operations are temporarily suspended across major manufacturing hubs, which leads to substantial slowdown in the production.
Scope of Organic Electronic Market Report
The report on the global organic electronics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Organic Electronics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Materials (Substrate, Dielectric, Conductive, and Semiconductor) and Applications (System Components, Organic Photovoltaic, OLED Lighting, Printed Batteries, Organic RFID Tags, and OLED Display)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Merck, Novaled, Heliatek, Polyic, Bayer MaterialScience, Fujifilm Dimatix Inc., H.C. Starck, AGC Seimi Chemical Co. Ltd., Sumitomo, Polyic, Evonik, BASF SE and AU Optronics Corporation.
Global Organic Electronics Market Segment Insights
Semiconductor segment is expected to constitute a significant share
Based on materials, the organic electronic market share is segmented into substrate, dielectric, conductive, and semiconductor. The semiconductor segment is expected to constitute a significant market share during the forecast period.
Organic semiconductors are non-metallic materials offering excellent semiconducting properties and several advantages such as mechanical flexibility and light weight.
Moreover, these semiconductors are bio-degradable and, therefore, are more preferred owing to the rising awareness about sustainable development. This is anticipated to boost the segment growth during the forecast period.
On the other hand, the dielectric segment is projected to register at an impressive CAGR during the forecast period. The dielectric material are widely applied for applications in various fields such as consumer electronic, digital signage, automotive, medical and security.
OLED display segment projected to represent a considerable market share
On the basis of applications, the organic electronic market share is divided into system components, Organic Photovoltaic (OPV), OLED lighting, printed batteries, organic RFID tags, and OLED display.
The OLED display segment is projected to represent a considerable market share during the forecast period. The rapid advancement in OLED display technology and wide application of the organic materials for the display is a key factor driving the segment growth.
The organic-OLED is the advanced display technology, which is extensively used in mobile phones, laptops, televisions, and other display panel electronic devices. The OLED display offers enhanced image quality in terms of better contrast, brightness, full viewing angle, and lower power consumptions.
On the other hand, the OPV segment is expected to exhibit a substantial CAGR during the forecast period. Increasing adoption of OPV technique owing to reduced cost of dye-sensitized solar cells (DSSC) is projected to spur the segment growth.
Organic Electronic Market Regional Outlook
Asia pacific market projected to account for a large market share
In terms of region, the organic electronic market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is projected to account for a large market share during the forecast period owing to the presence of major manufacturing hubs and rapid growth of the electronics industry in this region.
Additionally, growing consumer awareness regarding the use of eco-friendly products and rising concerns for less energy consumption products is propelling the regional market growth.
- System Components
- Organic Photovoltaic (OPV)
- OLED Lighting
- Printed Batteries
- Organic RFID Tags
- OLED Display
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Bayer MaterialScience
- Fujifilm Dimatix Inc.
- H.C. Starck
- AGC Seimi Chemical Co. Ltd.
- AU Optronics Corporation
Some of the key players in the global organic electronics market are Merck, Novaled, Heliatek, Polyic, Bayer MaterialScience, Fujifilm Dimatix Inc., H.C. Starck, AGC Seimi Chemical Co. Ltd., Sumitomo, Polyic, Evonik, BASF SE, and AU Optronics Corporation.
Industry players are adopting various business strategies such as product innovation, partnerships, and collaboration. Wide adoption of technological and scientific development by original equipment manufacturers and technical solution providers in the production of electronic items are boosting the growth of organic electronics market.