Global Organic Electronics Market to Display Double-digit Growth in Future, Eco-friendly Attributes Propel Market
Published On : May 13, 2016 | Category : Electronics & Semiconductors
Organic electronics entail the design, development, characterization, and application of organic polymers that display desirable electronic properties such as conductivity. The field of organic electronics is relatively new and has enormous potential in predominantly four application areas: lighting, displays, photovoltaics, and integrated smart systems.
Organic electronics are representative of future-centric green technology that’s sustainable in the long run. They offer eco-friendly energy production and economical energy use. Some of the varied and fascinating applications of organic electronics that can bring a radical change in everyday functioning are:
- Organic solar films that can be coated invisibly on windows of buildings and vehicles and have a harvesting factor three times more than that of normal solar cells.
- Organic sensors produced without harmful heavy materials are ultra-thin and flexible aid specialty functions in the medical sector.
Performance Capabilities of Organic Electronics Favorable for Market Growth
The global organic electronics market is expected to rise at a remarkable 32.6% CAGR from 2012 to 2018. The impressive growth of this market is attributable to factors such as improved performance of organic electronics, increasing application areas, growing adoption, rising investments for the development of organic electronics, plummeting prices of electronics in general, and government assistance.
However, factors such as the comparatively shorter lifetime of devices that operate on organic electronics and the need for improved processes and materials need to be addressed for exponential growth of the organic electronics market in the years to come.
Organic electronics are used in organic lighting, logic and memory, organic photovoltaics, organic radio frequency identification (ORIFD), printed batteries, and displays. Of all, the display segment accounts for the largest share of the overall market; the sub-segments of display are electrophoretic, organic light-emitting diode (OLED) display, and other displays.
Organic Light-emitting Diode (OLED) Displays Segment to Dominate Market
The OLED displays segment is expected to be valued at US$10.45 bn by 2018 and dominate the overall organic electronics market. High speed performance, sharp display features, and low energy consumption are some of the factors attributable to the increased demand for OLED displays. Across the world, advocacy for green products and increasing OLED applications in mobile phones and signage will be favorable for the growth of the OLED display market. However, factors such as high manufacturing costs combined with low speed of penetration of technology will hamper the growth of the overall OLED display market. The electrophoretic sub-segment will reach a valuation of US$3.95 bn by 2018, expanding at a CAGR of 58.4% from 2012 to 2018. Nevertheless, organic RFID tags and logic and memory segments will pivotal for manufacturers of organic electronics.
Asia Pacific to Hold Major Share in Market in Future
The global organic electronics market is segmented into four broad regions, namely the U.S., Asia Pacific, Europe, and Rest of the World. Of all, Asia Pacific is expected to dominate the market with a revenue share of more than 50% in the global market until 2018. Asia Pacific will be closely followed by Europe as the second-largest market for organic electronics between 2012 and 2018.
Top players that operate in the global organic electronics market are Evonik, Merck, Heliatek, Polyic, AGC Seimi Chemical Co. Ltd., Fujifilm Dimatix Inc., BASF, Novaled GmbH, Sumitomo, H.C. Starck, and Baer Material Science AG.
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