Organic Electronics Market Poised to Reach USD 195.7 Billion at a CAGR of 21.00% by 2032– Report by Market Research Future (MRFR)
Organic Electronics Market Research Report Information By Application (Organic Light-Emitting Diode Lighting, Solar Batteries, Displays, Memory Devices, Photovoltaic Cells), By Materials (Conductors, Dielectric, Luminescent Materials, Electrochromic Materials), By Components (Active Components, Passive Components) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World)
London, United Kingdom, May 24, 2023 (GLOBE NEWSWIRE) — According to the market research report published by Market Research Future (MRFR), “Organic Electronics Market Information by Materials, Components, Application, and Region – Forecast till 2032”, Market could thrive at a rate of 21.00% between 2023 and 2032. The market size will be reaching around USD 195.7 Billion by the end of the year 2032
Organic Electronics Market Synopsis:
Organic electronics are a type of electronics that use carbon-based materials instead of silicon. These materials can be easily printed on flexible substrates, making them lightweight, portable, and cheap. Organic electronics can be used in a wide range of applications, such as OLED displays, solar cells, and sensors.
Organic electronics have numerous uses and applications, including wearable technology, flexible displays, healthcare devices, and energy storage systems. For example, organic photovoltaic cells can be used to create lightweight, flexible, and highly efficient solar cells for power generation.
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Market Competitive Landscape:
The affluent companies in the Organic Electronics industry include
- Asahi Kasei Corporation
- AU Optronics Corporation
- BASF SE
- Bayer Material Science AG
- Evonik Industries
- Fujifilm Dimatix
- Merck Kgaa
- Samsung Display
|Revenue forecast in 2032||USD 195.7 billion|
|Growth Rate||CAGR of 21.00 % from 2023 to 2032|
|Key Market Opportunities||Eco-friendly technologies and their rapid adoption.|
|Key Market Drivers||Growing demand for high-quality flexible electronics as well as advanced and high-performance semiconductors.|
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Market Update (March 2022):
Merck KGaA announced the launch of a new series of OLED materials called “Solliance Blue.” The new materials are designed to improve the efficiency of blue OLED devices, which are commonly used in smartphone displays and other applications.
Market USP Covered:
The organic electronics market is driven by several factors that have created a significant demand for these products. One of the key drivers is the growing demand for lightweight, flexible, and energy-efficient devices. Organic electronics offer a range of advantages over traditional electronic devices made from inorganic materials. They can be easily printed on flexible substrates, making them lightweight and portable. Additionally, organic electronics are highly energy-efficient, which makes them ideal for use in devices that require long battery life.
The rising demand for sustainable and eco-friendly products is another major factor driving the organic electronics market. As consumers become more aware of the environmental impact of electronic devices, there is a growing demand for products that are sustainable and eco-friendly. Organic electronics are an ideal solution, as they are made from renewable materials and have a low environmental impact.
One of the primary challenges facing the market is the high cost of manufacturing. The manufacturing process for organic electronics is still in its early stages and requires specialized equipment and materials, which can be expensive. As a result, the cost of producing organic electronic devices is higher than that of traditional electronic devices made from inorganic materials.
Another challenge facing the organic electronics market is the limited performance of organic materials compared to inorganic materials. While organic electronics offer several advantages over traditional electronic devices, such as flexibility and low weight, they have a lower performance in terms of efficiency, durability, and stability. This limits the applications for which organic electronics can be used, particularly in high-performance applications such as computer processors and memory chips.
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COVID 19 Analysis:
The COVID-19 pandemic had a profound impact on almost every industry across the globe, including the organic electronics market. The pandemic resulted in a global supply chain disruption that affected the manufacturing and distribution of organic electronics products. Many organic electronics companies were forced to shut down their production facilities or reduce their production capacity due to the impact of the pandemic.
Additionally, the pandemic has led to a reduction in consumer demand, as many individuals experienced a job loss or a decrease in income due to the economic downturn. This has led to a decline in sales for many organic electronics companies.
However, the post-COVID-19 scenario is expected to see a resurgence in the organic electronics market. The demand for sustainable and eco-friendly products is expected to increase as more individuals become aware of the environmental impact of traditional electronic devices. Moreover, the pandemic has highlighted the need for more sustainable and resilient supply chains, leading to an increased focus on local manufacturing and sourcing of materials.
Organic Electronics Market Segmentation:
- By Materials – The Materials in the market include Conductors, Dielectric, Luminescent Materials, and Electrochromic Materials.
- By Components – The Components in the market include Active Components, Passive Components.
- By Application – The Application in the market includes Organic Light-Emitting Diode Lighting, Solar Batteries, Displays, Memory Devices, and Photovoltaic Cells.
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Organic Electronics Market Regional Insights:
The organic electronics market is dominated by three major regions: North America, Europe, and Asia-Pacific. North America is the largest market for organic electronics, driven by the presence of several major players in the region. Europe is the second-largest market, with Germany being a major contributor to the market growth. The Asia-Pacific region is expected to witness the fastest growth, driven by the increasing demand for organic electronics in China, Japan, and South Korea.
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