Increasing demand for high quality flexible electronics, favorable government initiatives, and high penetration of smartphones and other smart devices are key factors expected to drive global market growth.
Increasing demand for high quality flexible electronics, favorable government initiatives, and high penetration of smartphones and other smart devices are key factors expected to drive global market growth
According to Emergen Research, the global organic electronics market size was USD 55.18 billion in 2020 and is expected to reach USD 178.25 billion in 2028 and register a revenue CAGR of 15.4% during the forecast period, 2021-2028.
Market Dynamics:
Over the recent years, there have been rapid technological advancements in the electronics sector. Organic electronics is a branch of modern electronics that focuses on designing, synthesizing, and characterizing organic molecules or polymers showcasing unique electronic properties such as conductivity. This is a promising technology as it allows high throughput manufacturing low cost, lightweight, and eco-friendly flexible electronic devices. One of the key factors surging demand for organic electrics is rising awareness about sustainability and overall environmental impact.
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Organic electronic devices are used in materials such as semiconductors, conductive and electric products, displays, batteries, colored light sources, portable solar cells, and are rapidly gaining traction owing to low utilization of raw materials and simplified processing methods. Factors such as increasing deployment of solar panels, high penetration of smart devices, and increasing focus on developing eco-friendly technologies are expected to drive global market revenue growth during the forecast period. In addition, increasing investments in research and development activities and rising demand for organic electronics across various end users including healthcare, textile are other factors expected to fuel market growth going ahead. However, high cost of organic electronics, degradation after certain years due to inferior thermal stability, and lack of robustness and certain fabrication issues are key factors that can hamper organic electronics market growth to a certain extent going ahead.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Organic Photovoltaics Segment Register Steady Revenue CAGR:
The organic photovoltaics segment is expected to register steady revenue growth over the forecast period. Revenue growth can be attributed to factors such as increasing demand for organic photovoltaic cells due to shortage of semiconductor silicon crystals, rising awareness about green energy production photovoltaic solutions, high usage of solar panels, and favorable government initiatives.
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Semiconductor Segment to Account for Largest Revenue Share:
The semiconductor segment is expected to account for largest revenue share between 2021 and 2028. Factors such as rapidly evolving electronics sector across the globe, high usage of organic semiconductors in thin-film batteries, organic photovoltaics, sensors, electronic paper, rising demand for premium smartphone displays, and Organic Light Emitting Diodes (OLEDs) among consumers are expected to drive revenue growth of the market over the forecast period. Organic semiconductors offer better mechanical flexibility and are lightweight and cheaper than inorganic semiconductors.
Asia Pacific to Register for Rapid Revenue CAGR:
Asia Pacific market revenue is expected to expand at a rapid CAGR over the forecast period owing to rapidly growing electronics industry across the region, rising purchasing power, presence of key manufacturers, and steady adoption of advanced technologies. Other factors such as increasing awareness about organic electronics and importance of sustainable living, rising demand for organic electronics across various sectors including textile, healthcare, and increasing investments for developing advanced products are expected to fuel market growth in Asia Pacific.
Major Companies in the Market Include:
- Covestro AG
- Novaled GmbH
- Koninklijke Philips NV
- Sumitomo Corporation
- BASF SE
- Siemens AG
- LG Display Co. Ltd.
- Universal Display Corporation
- Samsung Display Co. Ltd.
- Evonik Industries
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For the purpose of this report, Emergen Research has segmented the global organic electronics market on the basis of material type, application, and region:
Material Type Outlook (Revenue, USD Billion; 2018–2028)
- Semiconductor
- Dielectric
- Conductor
- Substrate
Application Outlook (Revenue, USD Billion; 2018–2028)
- Display
- Battery
- Lighting
- Conductive Ink
- Memory
- Organic Photovoltaics
- Sensor
- Organic RFID
- Others
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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