Selbyville, Delaware, Dec. 21, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Conductive Polymers Market was estimated at USD 3.8 bn in 2022 and is expected to surpass a valuation of $8 billion by 2032, progressing at a CAGR of 8% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
Conductive polymers are extensively utilized in the electrical and electronics industry for applications, including batteries, capacitors, anti-static insulating materials, semi-conductors, and so on, owing to their superior mechanical, electrical, and thermal characteristics. Furthermore, major end-use industries of conductive polymer materials, such as semiconductors and consumer electronics, are growing rapidly.
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High demand in electronic applications to foster ICP revenue expansion
In terms of conduction mechanism, conductive polymers market share from the inherently conductive polymers (ICPs) segment was worth more than USD 600 million in 2022 and is expected to expand at more than 10.5% CAGR through 2032. ICPs are in high demand due to their unique mix of processability, dimensional stability, conductivity, and optical and mechanical qualities, which favor the electrical & electronics sectors. Additionally, market revenue is projected to be boosted by the widespread use of electronics to automate industrial production processes in the emerging Industry 4.0.
Key reasons for Conductive Polymers Market growth:
- Expanding global semiconductor and electronics industry.
- Increasing demand for lightweight components.
- Growing solar power industry in the U.S.
Increasing application in wearable electronics to fuel polypyrrole (PPy) segment revenues
Under inherently conductive polymers, conductive polymers market share is further segmented into polypyrrole (PPy), polyaniline (PANI), polyphenylene vinylenes (PPV), PEDOT, and others. The polypyrrole (PPy) segment is projected to account for over USD 180 million in revenue by 2032. Due to its inherent features, polypyrrole (PPy) has emerged as a viable active material for high-performance supercapacitors. Furthermore, the flexibility and ductility of polypyrrole (PPy), which promote its application in the development of flexible and wearable devices, are expected to favor segment demand.
Growing awareness about renewable energy sources to benefit the solar cells segment
Based on application, conductive polymers market share from the solar cells segment is estimated to amass over USD 450 million by 2032. This growth is attributed to the growing public awareness pertaining to renewable energy sources and promising photovoltaic technology, specifically cells. Organic solar cells, perovskite solar cells, and dye-sensitized solar cells would boost the usage of conductive polymers to adjust device components, and the structures of these solar cells, owing to their diversified properties, are projected to favor segment expansion in the coming years.
Presence of leading automobile manufacturers to influence LATAM industry share
Latin America conductive polymers market is poised to exhibit robust growth at more than 7% CAGR through 2032. The growing economies of several nations, such as Brazil and Mexico, coupled with their high proximity to the U.S., are expected to have a positive impact on the regional industry share. Additionally, the presence of major automakers' production facilities in the region, including Mercedes-Benz, Fiat, Renault, Toyota, and many others, is anticipated to present lucrative growth opportunities for the LATAM market.
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Introduction of innovative technologies to define the industry outlook
Global conductive polymers market includes top enterprises viz., Celanese Corporation, 3M Company, Avient Corporation, DuPont de Nemours, Inc., Agfa Gevaert N.V., Covestro AG, Saudi Basic Industries Corporation (SABIC), Henkel Ag & Co. KGaA, and others. Industry leaders are set to introduce a series of new products, transforming the market's strategic landscape in the coming years.
Partial chapters of report table of contents (TOC):
Chapter 5 By Conduction Mechanism
5.1 Market share, by Conduction Mechanism, 2022 & 2032
5.2 Conducting polymer composites
5.3 Inherently Conductive Polymers
Chapter 6 By Application
6.1 Market share, by application, 2022 & 2032
6.2 Anti-static packaging & coating
6.3 Capacitors
6.4 Actuators & Sensors
6.5 Batteries
6.6 Solar cells
6.7 Electroluminescence
6.8 Printed circuit board
6.9 Others
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
