Organic Electronics Market (Updated Version Available)

Key Market Overview:

Organic Electronics Market size garnered over USD 159.1 Billion in 2022 and is anticipated to hit around USD 899.6 Billion by 2030, growing at a 15.9% CAGR during the forecast period (2022-2030).

Organic electronics are commonly referred to as plastic electronics or polymer electronics. This deals with the conductive polymers and small molecules which are carbon-based. They are flexible, lighter, and cost-efficient as compared to inorganic electronics. These properties result in new and innovative applications like electronic paper or smart windows. Development in organic chemistry and polymer technology is helping in the growth of the organic electronic market. The market is emerging and has significant applications in consumer electronics and healthcare. The discovery of the organic light emitting diode (OLED) was a major milestone by Ching Tang and Steven Van Slyke at Kodak in 1987.

Organic electronics are expected likely to target other research fields like UV-vis, solar cells, memories, ionizing radiation detectors, and chemical and, biological sensors. The most promising applications of organic electronic devices include device tools and items for Internet-of-Things (IoT) systems, particularly in wearable electronics for healthcare applications and energy harvesting.

Report Attributes	Report Details
Study Timeline	2016-2030
Market Size in 2030 (USD Billion)	899.6 Billion
CAGR (2022-2030)	15.9%
By Material	Semiconductor, Conductive, Dielectric, and Substrate.
By Component	Active and Passive
By Application	Display Applications, OLED Lighting, Organic Photovoltaic, System Components, and others.
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Heliatek GmbH, Evonik Industries AG, BASF SE, AGC INC, POLYIC GMBH & CO. KG, COVESTRO AG, C. Starck Inc., Novaled GmbH, Merck KGaA, Sumitomo Corporation.

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Market Dynamics:

Driver:

These are excellent cost-effective alternatives as they use fewer resources and involve easy manufacturing processes. This results in driving the growth of the organic electronics market. Furthermore, due to their advanced functionalities like enhanced performances in case of color, contrast, and brightness their demand for display technologies and modern lighting is increasing. Moreover, the requirement for the development of eco-friendly technologies is also boosting the market. The eco-friendly technologies involve the use of organic batteries and biodegradable materials like OLEDs. In addition to this, organic electronics consume less energy to operate, thus, providing energy-saving solutions.

Restraint:

The degradation of organic components after certain period results in decreasing efficiency along with technical incompatibility is a restraining factor in the market growth. Organic semiconductors are easily affected by ionizing radiation and temperature, have low mobility, and are ambient sensitive. These all factors obstruct market growth.

Opportunities:

Due to increasing digitalization like smartphones, laptops, televisions, and others, the demand for display technologies like OLEDs will increase, thus, providing lucrative business opportunities for the market. Moreover, the increase in R&D activities offers profitable opportunities for organic electronics in many applications including automotive, consumer electronics, healthcare, and others.

COVID-19 Impact:

The initial phases of the COVID-19 pandemic resulted in a major economic slowdown, especially in manufacturing industries such as the organic electronics market. The growing numbers of COVID cases especially in the Asia Pacific and European region created a global alarming situation that resulted in halted production facilities, disrupted supply chains, and reduced business expansions. Lockdowns, Infection awareness, and travel limitations, on the other hand, have hindered international market demand and reduced the development process. However, the circumstances have started to pick up a pace from 2021 and are expected to bolster the market growth due to resumed business operations. Moreover, the situation had a negative effect on the electronics industry and businesses. The government has offered a number of approaches to help the organic electronics industry to rise. While the major companies are exploring new strategies to address current issues and stabilize the industry.

Organic Electronics Market Segmentation:



By Material

The material type is segmented into semiconductor, conductive, dielectric, and substrate. The market is segmented into Conductive, Semiconductor, Dielectric & Substrate, and others. The semiconductor segment dominates the organic electronics market by holding a share of USD 96.8 Billion. Further, this is anticipated to grow to USD 317.9 Billion at a CAGR of 21.9% during the forecast period. This is due to the excellent properties of an organic semiconductor like light weight, low production cost, low-temperature processing, mechanical elasticity, and raw material. Moreover, they are frequently used in the healthcare industry. The conductive segment is also anticipated to increase market growth during the forecast period. This is due to their low cost, low density, upright toughness, enhanced flexibility, and ductility.

By Component

The component segment is bifurcated into active and passive. Active electronic components are those that control the flow of electricity. Moreover, different types of Printed Circuit Boards have one active component. This segment includes vacuum tubes, transistors, and silicon-controlled rectifiers (SCRs). A passive segment does not generate power, but scatters, stores, and/or releases power. This involves resistances, capacitors, and coils. These components are labeled in circuit diagrams as Rs, Cs, and Ls, respectively.

By Application

The application segment is divided into display applications, OLED lighting, organic photovoltaic, system components, and others. The OLED lighting segment conquered the market and is anticipated to increase the market growth during the forecast period. This is due to its excellent properties like enhanced efficiency, low- price, fast response time, superior viewing angle, fast response time, small size, and high brightness and contrast. Moreover, their low energy consumption and integration of advanced technologies like artificial intelligence and IoT to improve performance and user experience are increasing segment growth.

By Region

The regional segment comprises Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa. North America led the market growth, accounting for a sizable market share. Due to advanced technology, along with the adoption of AI, machine learning, and IoT, this region holds the largest share of the market trend. Further, India comprises a large population which results in a bigger marketplace for consumer electronics thus, boosting the growth of organic electronic components. Germany has a huge chemical industry, which enhances the development of organic electronics.



Moreover, numerous companies and customers in the European region are demanding organic electronic technology because of its eco-friendly and low-cost properties.

Organic Electronics Market Competitive Landscape:

The nature of competition in terms of the global market is primarily competitive due to the presence of extensive numbers of market players. These industry players have adopted multiple business strategies through product innovations to attract more profits to the market. As a result, other players are also engaging to form collaborative efforts and joint ventures for the creation of revenue generation opportunities in the coming years. Mentioned are the prominent market players that consist of the latest market concentration–

• Heliatek GmbH
• Evonik Industries AG
• BASF SE
• AGC INC
• POLYIC GMBH & CO. KG
• COVESTRO AG, C.
• Starck Inc.
• Novaled GmbH
• Merck KGaA
• Sumitomo Corporation

Recent Developments:

• In March 2022, a firm named BASF at Ludwigshafen, Germany will introduce the open innovation platform worldwide named AgroStart to offer solutions for new digital agriculture.

• In Nov 2021, a company named Covestro located in Leverkusen, Germany declared four new materials for numerous technologies of 3D printing like a soft material with a high energy return for Selective Laser Sintering (SLS), a soluble support material for Fused Deposition Modeling and Fused Filament Fabrication (FDM/FFF), and two high flow able thermoplastic polyurethane (TPU) powders for SLS and High-Speed Sintering (HSS).