Unfolding the Future: Growth Opportunities in the Organic Electronics Market
The global organic electronics market is anticipated to grow at an impressive CAGR of 20.5% from 2023 to 2031. The market is driven by factors such as rising demand for flexible displays and lighting, increasing use of organic photovoltaics (OPVs) in renewable energy, and the growing adoption of organic sensors in healthcare and environmental monitoring.
Some of the growth opportunities in the organic electronic market are:
Flexible Displays and Lighting
Flexible displays and lighting are one of the key applications of organic electronics. These displays can be rolled, bent, or even folded, making them an ideal product for smartphones, wearable devices, and other portable electronics. The demand for lighting and flexible displays is anticipated to grow rapidly in the coming years which might open new opportunities for industry expansion.
Organic Sensors
Organic electronics are also being used in the manufacturing of organic sensors. These sensors can be used in healthcare and environmental monitoring to detect several substances like alcohol, glucose, or gases. These sensors are lightweight, flexible, and inexpensive making them ideal for wearable devices and other portable electronics. The demand for organic sensors is projected to grow rapidly in the near future, driven by the rising demand for healthcare and environmental monitoring solutions.
Organic Photovoltaics (OPVs)
Organic photovoltaics are a type of solar cell that utilizes organic materials to generate electricity from sunlight. These cells are flexible, lightweight, and can be manufactured using low-cost processes, making them a suitable choice for renewable energy applications. The demand for OPVs is anticipated to grow significantly in the coming years, driven by the rising demand for renewable energy sources.
Printed Electronics
Printing electronics is a cost-effective manufacturing process that involves the printing of electronic devices on paper or plastic. This process can produce various electronic devices like displays, circuits, and sensors. The demand for printed electronics is anticipated to grow significantly in the upcoming period, propelled by the growing need for flexible and low-cost electronic devices.
Conclusion:
The organic electronic market offers substantial growth opportunities in a variety of applications, including organic photovoltaics, flexible displays and lighting, organic sensors, and printed electronics. The market is projected to grow at a fast pace in the coming years, driven by the surging demand for flexible, lightweight, and low-cost electronic devices.
Organic electronics makes use of organic materials that exhibit considerable electrical properties such as conductivity. These materials are made up of tiny molecules or carbon-based polymers. Organic electronics offer the benefit of low-cost manufacturing when compared to conventional material electronics. The different types of materials used in the manufacture of organic electronics include polymers, nanotubes, graphene, carbon-based molecular structures, and hybrid materials. A commonly known application of organic materials is organic light-emitting diode (OLED), which is widely used in smartphones. Organic solar cells, television displays, and transistors are the other applications of organic electronics. Technological advancements concerning organic photovoltaic, transistor technology, and organic display technology, and developments in organic polymer materials are expected to drive the growth of the market.
At present, the predominant applications include displays, lighting, photovoltaics, and other smart electronic systems.Constant research and development activities are leading to the development of biomedical implants and other biodegradable RFID tags. Other areas of exploration include possible application in memory devices, detectors, microlenses, batteries, photoconductors, optical fibers, and consumer packaging. Ongoing developments in the consumer electronics segment especially in smartphones offer promising growth in terms of adoption of organic electronics. Some of the underlying drivers of the market include rising disposable income of end-users and preference for high quality products, increasing investments of major companies in the organic electronics segment, and competition among suppliers for product differentiation. Growth in the consumer electronics segment especiallysmartphones and televisions is expected to provide double-digit growth for the market. Some of the market players are Asahi Kasei Corporation, BASF SE, Bayer MaterialScience, Evonik Industries, DuPont, Henkel AG & Company, Optomec, ITRI Taiwan, Kovio, Inc., and others.
