PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397099
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397099
Organic Electronics Market size was valued at USD 35,000 Million in 2022, expanding at a CAGR of 24.3% from 2023 to 2030.
Organic electronics offer great potential as a technology due to their ability to manufacture eco-friendly, low-cost, ultra-lightweight, and flexible devices with a wide range of optoelectronic or electronic functionalities. By utilizing organic polymers or small molecules, organic electronics enable the creation of electronic components for various application areas. In comparison to conventional silicon-based inorganic materials, organic electronic materials are lighter, more flexible, and less expensive. Moreover, organic electronics are more energy-efficient and environmentally friendly throughout their production, usage, and disposal stages. The fabrication of small molecule organic electronics typically involves vacuum-based deposition methods to transfer thin films of organic materials onto the substrate surface. However, the field of organic electronics continues to evolve, with ongoing efforts to overcome challenges and explore new possibilities for innovative electronic devices.
A wide range of OLEDs, serving various industries, have entered the market, with a focus on both passive and active matrix solutions. OLEDs are currently being used in a variety of devices, including digital cameras, mobile phones, tablets, laptops, VR headsets, and TVs. In 2021, the production of over 500 million AMOLED screens is expected, primarily to meet the demand for smartphones, wearables, tablets, laptops, and TVs. The demand for OLED displays is largely driven by the smartphone and TV markets, which are expected to continue expanding. As a result, the organic electronics market, powered by OLED technology, is expected to experience sustained growth. Furthermore, the growth of IoT devices presents opportunities for organic electronics, particularly in the areas of sensors and communication modules. However, the limited awareness among consumers and businesses about the benefits of OLEDs may impede market adoption.
The Global Organic Electronics Market is segmented on the basis of Material, Application, end-user, and Region.
The market is divided into four categories based on Material: Semiconductor, Conductive, Dielectric, and Substrate. The semiconductor segment dominates the market. The global technology landscape is the main driving force behind the demand for semiconductors. These chips are essential components in the production of smartphones, computers, automotive electronics, and IoT devices, as they play a crucial role in their functioning.
The market is divided into four categories based on application: Lighting, Display, Conductive Ink, Battery, and Other. The display segment dominates the market. The demand for high-quality displays in various consumer electronics devices has led to growth in the organic electronics market, particularly in the display segment.
The market is divided into four categories based on End-user: Energy, Automotive, Aerospace and Defense, Consumer Electronics, Healthcare, and Others. Consumer Electronics dominates the market. Organic electronics have found a significant application in consumer electronics, particularly in the form of Organic Light-Emitting Diode (OLED) displays for smartphones. These displays offer a range of benefits, including vivid colors, high contrast ratios, and the ability to create flexible and curved designs.
This market is geographically widespread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is expected to be driven by Asia Pacific, primarily due to the increasing popularity of wearable devices like smartwatches and fitness trackers. Many Asian countries serve as major manufacturing hubs for the electronics industry. With a large population and rising disposable incomes, there is a significant demand for innovative electronic gadgets, including wearables, which in turn promotes the adoption of organic electronics. In 2019, China alone shipped 99 million wearable devices, including smartwatches, wristbands, and earphones, marking a 37.1% increase from the previous year. Out of these shipments, more than one-fourth, approximately 27 million, were delivered in the last quarter of the year, as reported by the international data corporation. Europe, on the other hand, holds the second-largest market for organic electronics during the forecast period, mainly due to advancements in OLED technology.
The field of organic electronics is rapidly expanding and has become a significant player in the global electronics market. With the use of organic semiconductors, innovative products such as RFID labels, flexible displays, solar cells, OLED-based lighting, and displays have been made possible. Key players in the industry are in constant competition to develop cutting-edge technologies that will give them an edge in areas such as display quality, energy efficiency, and flexibility. To stay ahead of the inclined, these companies invest heavily in research and development, exploring new materials and manufacturing processes, as well as discovering novel applications. It is essential to increase market awareness and educate consumers and businesses about the benefits and applications of organic electronics. Therefore, companies often invest in marketing strategies to promote their products and influence market perception.
On June 20, 2023, DuPont and JetCool Technologies Inc. joined forces to enhance the utilization of cutting-edge liquid cooling technology. This collaboration aims to facilitate efficient thermal management for semiconductors, data centers, and various high-performance computing applications. In a combined effort, DuPont and JetCool will establish a fresh sales channel, enabling semiconductor companies in Taiwan and Singapore to access and benefit from JetCool's advanced cooling solutions.