Global Organic Electronics Market Size, Share & Trends Analysis Report, by Application, By Materials, By Components, By Region Forecasts, 2024 – 2032

Global Organic Electronics Market Size, Share & Trends Analysis Report, by Application, By Materials, By Components, By Region Forecasts, 2024 – 2032

The organic electronics market was valued at US 98.4 billion in 2023 and is expected to reach US $ 1,705.1 Billion by 2032 growing at a CAGR of 29.9% during the forecast period 2024 – 2032.

Advances in organic chemistry and polymer technology are driving the growth of the organic electronics market. The market is still in its early phases of growth and will not improve quickly. Nonetheless, it appears inevitable that its business volume will increase further given the consumer electronics and healthcare applications that lie ahead. The rate at which environmentally friendly technology are being adopted and improved has been increasing throughout time. There is a growing market need for more environmentally friendly electronics due to the usage of sustainable energy sources like organic batteries and biodegradable materials by technology advancements like OLEDs. The fact that organic devices are simpler to dispose of environmentally is the reason governments around the globe endorse them. Additionally, organic electronics offer energy-saving methods in their operation.

Semiconductors are the most widely utilised electronic components in the consumer and industrial sectors. The development of organic electronic components and their applications can lead to the creation of semiconductors with a wide range of uses. Furthermore, organic electronics are less expensive than inorganic semiconductors. Organic semiconductors have numerous uses in electronic components. printed circuit boards, inkjet printers, LEDs, and similar devices. However, demand for this kind of application would soar if organic electronics can make its way into the automobile, communications, and mobile phone industries.

In order to increase the scope of their product lines and sustain the already strong growth rate of organic electronics, many of the market's top companies are currently making significant investments in research and development. Market participants have also been utilising a variety of strategies to increase their worldwide reach. New product launches, agreements (deals), mergers and acquisitions, or strategic partnerships with other companies—as well as increased investment—are among the particularly significant events in certain markets. In the current competitive and developing market environment, the organic electronics industry needs to manufacture low-cost products in order to grow and thrive.

“Displays segment, by application, to be dominating market from 2023 to 2030.”

In 2023, the display market was estimated to be worth over 40 billion, and over the next ten years, it is expected to increase at a quick rate of 15% annually. Organic electronics are perfect for curved, rolled, or flexed displays because of their bendability and elasticity. They are crucial in the production of wearables, cellphones, and TVs. The market is becoming more competitive as flexible displays offer up new opportunities in terms of design and user experience. Furthermore, organic electronic displays—OLED displays specifically—have broad viewing angles in addition to being highly contrasted and beautifully coloured. These kinds of displays offer immersive viewing experiences and outstanding image quality, which are crucial for applications like virtual reality devices, smartphones, and televisions. The market trends for organic electronics reflect the popularity of visually striking displays.

“Asia Pacific to be fastest growing region in organic electronics market.”

From 2023 to 2030, the Asia Pacific organic electronics market is anticipated to expand at a compound annual growth rate (CAGR) of more than 22%. There are plenty of application options in this area because the consumer electronics sector is quite significant and has been expanding quickly over most of this region. Due to their significant consumer electronics presence, China, Japan, South Korea, and India lead the market for organic electronic devices and components. Consumer electronics, such as wearables, televisions, and cell phones, are widely available. Products that use organic electronics, like vending machines, are adopted more quickly and get a larger market share because of their advantages, like flexible flat panels and lightweight designs. According to GSMA, the adoption rate of smartphones in China is 81% this year (2023) and is expected to rise to over 93% by the end of this decade. The region's concentration on rising earnings and technical improvements contribute to increased market growth.

North America's market share was 35.2%. The production of organic electronic components by a number of organic businesses in North America will promote the growth of organic electronics. In addition to its vast manufacturing sector, North America boasts a thriving healthcare and pharmaceutical business. They will accelerate the market's expansion.

The production of solar cells and batteries is increasing across South Asia and the Pacific region in an effort to generate electricity for national consumption. There is a substantial consumer electronics market in this region. South Asia and the Pacific are therefore the regions with the fastest growth rates. Technological Developments Will Fuel the North America Organic Electronics Market's Growth: Technically astute, the US has already leveraged cutting-edge technology like artificial intelligence (AI), machine learning, and the internet of things to further its own development. Furthermore, it is now evident that digital signage and other cutting-edge display technologies, which are taking over the consumer electronics sector in America, significantly accelerate market expansion.

Organic electronics Competitive Landscape

The competitive landscape of the Organic electronics market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Organic electronics technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Organic electronics market is highly competitive, with numerous companies vying for market share. Prominent companies in the Organic electronics Market include:

AGC INC, DuPont, Konica Minolta, Inc., Merck KGaA, Panasonic Holdings Corporation, Sony Corporation, Universal Display, Novaled GmbH, Covestro AG, JOLED Inc., LG Display Co., Ltd., OSRAM GmbH, Samsung Display (Samsung Electronics Co., Ltd.), Sumitomo Chemical Co., Ltd., Visionox Company and others.

Recent Developments:

InnovationLab GmbH acquired TAeTTOOz materials technology in May 2022. Printing rechargeable batteries from Evonik was the primary goal of this acquisition. As a result, the company will broaden the range of products it offers and assist its end users by providing them with dynamic, unique solutions.

Researchers from Chalmers University of Technology suggested a change in August 2022 that will help it run two times more efficiently than it does now. This range of technologies will all gain from it. For example, bioelectronics, plastic-based solar panels, and OLED displays.