Vancouver, British Columbia, May 24, 2021 (GLOBE NEWSWIRE) -- The global organic electronics market size is expected to reach USD 178.25 Billion at a steady CAGR of 15.4% in 2028, according to latest analysis by Emergen Research. Steady global organic electronics market revenue growth can be attributed to increasing focus on sustainable technology development. Application of organic materials to manufacture electronic devices offer electronic device manufacturers benefits to use safer, fewer, and abundantly available raw materials. Organic materials lead to less waste generation by reducing dependence on wasteful processes, including printing, as these materials are added layer by layer during the manufacturing process, contrary to spin-coating technique. Organic materials for electronics are also considered safe for humans as various inorganic materials such as carcinogenic solvents of which, some solvents are banned in the EU printing industry, owing to toxicity.
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Increasing use of organic materials for producing photovoltaic cells is spurring market growth. Organic materials have a high optical absorption coefficient allowing a large amount of light absorption with a small amount of material, leading to increased efficiency per unit area than inorganic materials.
Some Key Highlights From the Report
- In November 2019, FlexEnable, which is a company engaged in offering flexible organic electronics, made an announcement about the acquisition of high-performance organic thin-film transistor materials of Merck.
- Organic semiconductors are witnessing escalating demand from electronics & semiconductors industry owing to benefits such as lightweight, low-temperature processing, cost-efficiency, mechanical flexibility, and copious availability. In addition, high popularity of active-matrix Organic Light-Emitting Diodes (OLEDs) among consumers and rising demand for premium smartphone displays is spurring demand for organic semiconductors.
- Organic electronic sensors find application to sense biological/chemical substances. Organic materials hold immense potential in development of biosensors that monitor glucose levels in humans with diabetes, as well as dispense the prescribed dose of insulin on-time. Organic electronic materials are chemically compatible with biological systems, with improved stretchability and flexibility.
- Organic electronics market in North America accounted for second-largest revenue share in 2020, attributed to high adoption of advanced technologies and innovations in the healthcare industry. Additionally, presence of leading semiconductor companies in countries in the region is expected to continue to drive market growth.
- Key players in the market include Covestro AG, Novaled GmbH, Koninklijke Philips NV, Sumitomo Corporation, BASF SE, Siemens AG, LG Display Co. Ltd., Universal Display Corporation, Samsung Display Co. Ltd., and Evonik Industries.
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Emergen Research has segmented the global organic electronics market on the basis of material type, application, and region:
- Material Type Outlook (Revenue, USD Billion; 2018–2028)
- Semiconductor
- Dielectric
- Conductor
- Substrate
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Display
- Battery
- Lighting
- Conductive Ink
- Memory
- Organic Photovoltaics
- Sensor
- Organic RFID
- Others
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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