Organic Electronics Market Size Increasing Adoption of OLED Displays to Fuel Growth of CAGR at CAGR 24.8%, Value to Reach USD 452.7 Billion by 2032

TOKYO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The Global Organic Electronics Market is expected to experience robust growth in the coming years, driven by the rising utilization of organic materials in various applications, including flexible displays, lighting solutions, and advanced semiconductor devices. Organic electronics offer numerous advantages, such as flexibility, low-cost production, and tunable electronic properties, making them increasingly popular in the electronics industry. This article provides key insights into the organic electronics market, including growth projections, major drivers, challenges, regional outlook, and key players operating in the industry.

Organic Electronics Market Key Highlights and Statistics:

• The Organic Electronics Market is projected to witness significant growth and reach a substantial value of USD 452.7 Billion by 2032 propelling from USD 51.1 Billion in 2022, with a projected compound annual growth rate (CAGR) of 24.8% during the forecast period from 2023 to 2032.
• Semiconductor sub-segments accounted for over USD 31.2 billion of the total revenue share in 2022, making them a dominant segment in the market.
• Geographically, the North America region is set to grow at a CAGR 25%, owing to the region's rapid technological advancements and consumer electronics market.
• An emerging trend in the market is the development of flexible and stretchable electronic devices.

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Organic Electronics Market Report Coverage:

Organic Electronics Market Outlook and Opportunities:

The market outlook for organic electronics remains highly positive, driven by the increasing adoption of OLED displays in smartphones, smartwatches, and televisions, as well as advancements in organic photovoltaics, transistors, and memory devices. OLED displays offer superior picture quality and power efficiency, making them popular among consumers. Moreover, organic semiconducting materials provide several advantages over conventional inorganic electronics, including mechanical flexibility and lower production costs.

However, challenges related to low charge carrier mobilities and material stability need to be addressed for sustained market growth.

Organic Electronics Market Major Growth Drivers:

Surging Utilization of OLEDs in Smart Devices and TVs: The increasing demand for smartphones, smartwatches, and televisions with OLED displays is a major driver of the organic electronics market growth. OLED technology offers vibrant colors, high contrast ratios, and thinner form factors, enhancing the user experience.

Increased Research on Stretchable and Flexible Electronic Devices: The ongoing research and development efforts to create stretchable and flexible electronic devices open up new possibilities for wearable technology and innovative product designs.

Growing Demand for Organic Photovoltaics for Solar Power Generation: Organic photovoltaics (OPVs) are gaining traction as a low-cost alternative for solar power generation, especially in remote areas and developing regions.

Government Support for Organic Semiconductors: Governments worldwide are actively supporting research and development in organic semiconductors to drive innovation and promote sustainable electronic technologies.

Rising Need for Lightweight and Durable Electronic Components: Organic electronics offer lightweight and durable alternatives to traditional rigid electronic components, which is particularly advantageous in portable devices and wearables.

Organic Electronics Market Key Challenges:

Lower Charge Carrier Mobility Than Silicon-based Devices: Organic semiconductors typically have lower charge carrier mobilities than silicon-based devices, affecting their overall performance.

Material and Device Stability Issues: Ensuring long-term stability and reliability of organic electronics remains a challenge, especially in demanding environments.

Requirement for Expensive Encapsulation for OLED Displays: OLED displays require expensive encapsulation technologies to protect them from moisture and oxygen, adding to production costs.

Complex Fabrication Techniques for Multilayer Organic Devices: The fabrication of multilayer organic devices can be complex and may require precise control over deposition and patterning processes.

Lack of Unified Standardization Protocols Across the Value Chain: Standardization protocols for organic electronics are still evolving, leading to challenges in manufacturing and compatibility between different components.

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Organic Electronics Market Segmentation:

Based on the Material

• Conductive
• Dielectric and Substrate
• Semiconductor
  

Based on Application

• Lighting
• Display
• Conductive Ink
• Battery
• Other
  

Based on End-User

• Energy
• Automotive
• Aerospace & Defense
• Consumer Electronics
• Healthcare
• Other

Organic Electronics Market Regional Insights:

As of now, the Asia Pacific region leads the global organic electronics market share, driven by the region's rapid industrialization and growing consumer electronics market. However, North America and Europe are also significant regional markets, with a strong focus on research and development in organic electronics technologies.

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Organic Electronics Market Leading Companies:

Key players operating in the organic electronics market include BASF SE, CLEARink Displays, Inc., FlexEnable Limited, AU Optronics Corporation, Merck KGaA, Novaled GmbH, Sumitomo Chemical Co., Ltd., Universal Display Corporation, and Flexterra, Inc. These companies are at the forefront of developing innovative organic electronics solutions and investing in materials research and fabrication advancements.

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