VANCOUVER, BC, October 5, 2021 / PRNewswire / – Emergen Research has released a latest semiconductor and electronics market report titled “Organic electronics market By material type (semiconductor, dielectric, conductor, substrate), by application (screen, battery, lighting, conductive ink, memory, organic photovoltaic, sensor, organic RFID) and by region, forecast until 2028. ”
According to a current analysis by Emergen Research, the global organic electronics market size was $ 55.18 billion in 2020 and should reach $ 178.25 billion in 2028 and record a CAGR income of 15.4% during the forecast period, 2021-2028. The growing emphasis on the production of environmentally sustainable and cost-effective semiconductors, the growing demand for consumer electronics, and the growing need to incorporate advanced and new features into electronic products are some of the key drivers of the market growth
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The rapid adoption of technologies for sustainable development, the growing demand for consumer electronics due to the increase in disposable income of individuals and the increasing use of biodegradable and environmentally friendly materials for the production of electronic products are key factors that are expected to drive the market revenue growth during the forecast period. Organic electronics have gained popularity in recent years due to their increased flexibility, low manufacturing costs, large manufacturing area, and ease of processing. These advantages have spurred their adoption in organic solar cells, organic thin film transistors, organic light emitting diodes, and organic sensors, among others. Organic electronics have a wide range of applications in various end-use sectors such as medicine and biomedical research, information and communications, environmental health, and national security. This is another key factor that is expected to help the market revenue growth in the future.
Organic electronics is a branch of materials science that focuses on the design and application of polymers and other organic molecules that exhibit the required electronic properties. Organic electronics have lower costs than conventional electronics, have improved electrical conductivity, and comparatively higher mechanical flexibility. Research in organic electronics has grown in recent years due to its high potential to accelerate the development of products that can complement silicon-based applications with the integration of new and advanced features that can meet the limits of technologies. silicon. The performance of organic electronic devices is largely dependent on the manufacturing procedure and processing parameters, and recent advances in manufacturing technologies have led to the development of new materials to improve the properties of the devices. This is expected to fuel market revenue growth over the next several years.
Lower thermal stability, various manufacturing issues, and high cost are factors that may restrain the growth of the market to some extent during the forecast period. However, the high-cost and low-cost manufacture of organic-based electronic devices also has the potential to expand the application of electronic technology in resource-limited areas across the world where there is a shortage of materials. raw materials and necessary infrastructure, in turn leading to market revenue growth. .
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COVID-19 impact assessment
- The virus outbreak and social distancing standards and restrictions have severely disrupted the business landscape and operations around the world.
- The COVID-19 pandemic and lockdowns have resulted in the closure of airports, ports and commercial and domestic transportation in several countries. This has impacted manufacturing activities and operations globally and has taken a toll on the economy of various countries.
- The sudden and drastic slowdown in economic activity resulted in a slowdown in manufacturing, production, import / export and other sectors and also resulted in job losses to a large extent.
- The supply side impacts have been further compounded by challenges on the demand side due to reduced disposable income, depleted savings and increased concerns and uncertainties.
- The emergence of variants of the virus and increasing infection rates during the initial waves and subsequent lockdowns severely affected operations and disrupted supply chains.
The semiconductor segment will account for the largest share of revenue:
Semiconductor segment is expected to account for the largest share of revenue during the forecast period, owing to the growing demand for organic semiconductors for electronics due to its many advantages such as lightness, cost effectiveness , higher mechanical flexibility and low temperature processing, among others. In addition, the growing demand for high-end smartphones due to the increase in personal disposable income is driving the demand for semiconductors and is expected to contribute to the revenue share of this segment.
Show segment to dominate other application segments:
The display segment is expected to dominate other application segments during the forecast period due to the increasing demand for improved and high quality display in electronics. Organic electronic displays have several advantages such as improved picture quality, improved contrast and brightness, reduced screen thickness, and wider color gamut, among others.
North America to take into account a significant share of income:
North America is expected to account for a significantly large share of revenue during the forecast period due to the rapid adoption of advanced technologies, increased R&D activities to expand the application of organic electronics, innovations in health and biomedical sectors and the presence of key companies in the region.
Asia Pacific to register a robust income CAGR:
Asia Pacific Market revenue is expected to increase at a robust revenue CAGR over the forecast period owing to rapid growth in consumer electronics industry, increase in personal disposable income, increasing demand high-end electronic devices and the presence of leading semiconductor and organic electronics manufacturers in the region.
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The main companies in the market include:
- Covestro SA
- Novaled GmbH
- Koninklijke Philips NV
- Sumitomo Company
- BASF SE
- Siemens AG
- LG Display Co. Ltd.
- Universal display company
- Samsung Display Co. Ltd.
- Evonik Industries
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)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Conductive ink
- Organic photovoltaics
- Organic RFID
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of the MEA
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