New York, US, July 27, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Organic Electronics Market information by Component, by Material, and by Application – forecast to 2027” the market is set to cross USD 159.11 billion at a CAGR of 21% by 2027.
Organic Electronics Market Scope:
Organic electronics is a specialized area of material science that deals with the synthesis, characterization, design, and application of organic polymers or molecules in order to demonstrate better electronic properties. In general, all organic electronic materials are made of carbon-based organic molecules or polymers using synthetic strategies. One of the most important advantages of organic electronics is the cost factor, which is much lower than traditional electronics. Some of the important properties of polymeric conductors include electrical conductivity and high mechanical flexibility. Some can have high thermal stability.
Organic electronics are environmentally friendly and also provide better use of resources. They are made using a variety of materials, such as polymers, carbon-based molecular structures, nanotubes, hybrid materials, and more. One of the most popular applications for organic materials is the OLEDs-Organic Light-Emitting Diode, which is used in smartphones.
Dominant Key Players on Organic Electronics Market Covered Are:
- Asahi Kasei Corporation
- AU Optronics Corporation
- BASF SE
- Bayer Material Science AG
- Evonik Industries
- Fujifilm Dimatix
- Merck Kgaa
- Novaled
- Samsung Display
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Market USP Exclusively Encompassed:
Market Drivers
The global organic electronics industry is expected to be highly impacted by portable solar cells, smartphone displays, colored light sources, applications in curved TVs, and more. This is a highly promising technology that is expected to provide enhanced functionality and can help to address power consumption issues during the forecast period. Some of the possible applications of organic electronics materials are national security, biomedical research, environment health, IT, and more. The establishment of advanced systems also relies on organic semiconductors, which are expected to trigger market growth.
The global organic electronics industry is strongly influenced by the rapid growth in the consumer electronics industry. In addition, the increasing demand for high-quality flexible electronics as well as advanced and high-performance semiconductors is also boosting the market. LED applications and the increasing use of solar panels are also expected to stimulate growth during the forecast period.
Market analysts also predict that the introduction of favorable government initiatives and improved performance of the products would trigger market growth. As the lockdown situation has lifted in various countries and companies have begun their development process, it will have a positive effect on the market.
Browse In-depth Market Research Report (110 Pages) on Organic Electronics Market:
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Segmentation of Market covered in the research:
The global organic electronics market has been segmented into applications, materials, and components.
By application, the global organic electronics market has been segmented into organic light-emitting diode lighting, solar batteries, displays, memory devices, photovoltaic cells, and others.
By materials, the global organic electronics market has been segmented into conductors, dielectric, luminescent materials, and electrochromic materials.
By components, the global organic electronics market has been divided into active components, passive components.
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Regional Analysis
Region-wise, the global organic electronics market has been segmented into the Americas, Europe, Asia Pacific, and the rest of the world.
The Americas to lead the global market
The American regional market is the largest market in all regional markets and is expected to expand from 2020 to 2027. Canada is another big country-based market for this industry. Increased purchasing power and technological advancement are driving market growth in these regions.
COVID-19 Impact on the Global Organic Electronics Market
According to the analysis, the global organic electronics market was significantly affected by the COVID-19 pandemic. The explanation behind this is the disruption in supply chains. On the other hand, infection awareness, lockdowns, and travel restrictions have also hindered global market demand and slowed down the process of development. Moreover, the situation has also had a negative impact on the electronics industry and companies.
The Government has suggested numerous strategies to support the development of the organic electronics industry. On the other side, the main players are also pursuing new tactics to solve the existing problems and stabilize the market. Market analysts projected that the market would pick a pace by the end of 2021 and start to expand at a reasonable CAGR rate.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.