The organic electronics market revenue by the end of 2021 was US$ 96.9 Bn. The organic electronics market is expected to reach US$ 1,705.1 Bn by 2032, as it is estimated to grow at a CAGR of 29.9% for 2022-2032. Organic electronics is the application of organic molecules and certain types of polymers, which have the ability to conduct electricity, to develop semiconductors, electricity-conducting circuits, and electronic devices.
2017-2021 Organic Electronics Market Demand Outlook Compared to 2022-2032 Forecast
The organic electronics market is estimated to grow at a CAGR of 29.9% for the forecast period of 2022–2032. Development in organic chemistry and polymer technology is helping in the growth of the organic electronic market. The market is relatively nascent and will need time to improve, but as it finds applications in consumer electronics and healthcare, the market is bound to grow.
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Adoption of latest technology has significantly increased the demand for organic technology to support sustainable development.
The rate of acceptance and development of environmentally friendly technologies has increased throughout time. The market demand for organic electronics is growing due to the utilisation of sustainable energy sources like organic batteries and biodegradable materials in technological advancements like OLEDs. Because organic devices are simpler to dispose of in the environment, governments all over the world support them. Additionally, organic electronics use less energy to operate, resulting in energy-saving solutions.
Regional Analysis
In 2021, North America had the largest market share of 35.2%, and South Asia and the Pacific are estimated to have the fastest growth rate of CAGR at 32.7%.
Several organic companies which are developing organic electronic components are in North America, and this will fuel the growth of organic electronics. North America also has a large healthcare and medicine industry and manufacturing industry, which will allow the market to grow.
South Asia and the Pacific are witnessing a growth in the manufacturing and implementation of solar cells and batteries for providing electricity for country-wide purposes. The consumer electronics market in this region is also huge. For this reason, South Asia and the Pacific is the fastest growing region.
Country wise insights
Technological Advancements to Drive the Growth of Organic Electronics Market in USA
The United States is technologically advanced, having adopted advanced technologies such as AI, machine learning, and IoT in the past, making a positive contribution to its growth. Additionally, the United States is adopting digital signage and other advanced display technologies in consumer electronics, which is evidently driving the growth of the market.
Due to the technological advancements and investments which are made for research and development in this country, USA is estimated to be a large market for organic electronics.
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Growing Disposable Income and High Demand for Consumer Electronics to Drive the Demand For Organic Electronics in India
India has a large population due to which it can act as a big marketplace for consumer electronics, boosting the growth of organic electronic components. The increasing income of the middle class in the country is another factor allowing greater expenditures on consumer electronics.
Large Chemical Industry to Act as a Driver for Organic Electronics In Germany
Germany has a large chemical industry, which could drive the development of organic electronics and a manufacturing industry that requires electronic components. Companies and consumers are developing an interest in organic electronic technology and its applications since it is eco-friendly and low-cost.
Competitive Landscape
Companies currently developing organic electronics are chemical companies that develop organic materials like polymers and polycarbonates, which could be developed into creating organic electronic components.
- In September 2022, BASF and Solar Earth Technologies Ltd. (Solar Earth) have jointly created PIPV panels that can be installed on new as well as existing roads and other surfaces. BASF has developed and optimised the polyurethane (PU) for Solar Earth’s PIPV modules for superior wear resistance, excellent mechanical performance and extended product life.
- In March 2022, AGC Inc. (AGC), a leading global manufacturer of chemicals, glass and high-tech materials, offers transparent antennas for Fixed Wireless Access for Customer Premises Equipment (FWA-CPE), installed on indoor window glass to enhance indoor environments and develop the 5G millimetre wave band (28GHz) in the communication area. AGC will aim to optimise performance as well as verify reliability, with the aim of bringing the antenna to the market in 2024.
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Organic Electronics by Category
By Material Type:
- Organic Conductor
- Organic Semiconductor
- Organic Dielectric
- Substrate
By Vertical:
- Healthcare & Medical
- Military & Defence
- Industrial Automation
- Consumer Electronics
- Others
By Application:
- 3D Printing
- Displays
- Logic & Memory
- OLED & LED Lighting
- Solar Cell & Batteries
- Sensors & Actuators
- Power Sources
- Others (Transistors, RFID etc.)
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