Organic electronic devices are likely to become a low-cost alternative to the traditional inorganic electronic applications, due to low material utilization (use of materials that are synthesized, rather than mined from the earth) and simple processing. Since organic electronic devices are more energy-efficient and eco-friendly than today’s electronics, these devices contribute to a more sustainable electronic world. Therefore, companies are likely to switch to organic electronic devices in their product manufacturing. They find application in varied industries namely display, lighting, photovoltaic, and others.
The need for reduction of cost of production, weight, and power consumption of electronic goods are the key factors driving the market. For instance, the global demand for TV sets in 2017 has gone up by almost a million TV sets compared to last year and is expected to increase because of the emerging markets in Asia. Similarly, the demand for other flexible electronic goods required in healthcare, government, and other sectors is expected to grow, which would drive the growth of the organic polymer electronics market.
However, non-compatibility with conventional electronic goods and lack of robustness due to small life and possible degradation under environmental influences are the major reasons that hinder the growth of the market.
Organic Display, the Largest Revenue Generating Segment of the Organic Polymer Electronics Market
Among the applications of organic polymer electronic devices, the organic display is the largest revenue generating segment since display devices like OLEDs find applications in laptops, tablets, TV sets, and lightings, etc. Asia-Pacific is home to almost 3/4th of the global electronics manufacturing industry, which is the primary application area for organic electronics. Reasons like rising disposable income of end users and preference for high-quality products are influencing the LCD display manufacturers to invest in organic electronics. Also, to gain product differentiation and competitive advantage in the market, the LCD display manufacturers have been adopting OLED displays in their TV sets. Due to this, the demand in the OLED displays market is expected to rise.
Asia-Pacific Expected to Have High Demand for Organic Polymer Electronics Market
With largest consumer electronics markets like China and India in the Asia-Pacific, this region is expected to have a high demand for organic polymer electronic devices during the forecast period (2018-2023). North America is expected to proceed to dominate the market share of consumer electronics products in the light of increasing disposable incomes and increasing preferences towards the high-technology TV sets and other electronics. Also, the manufacturers’ interest in switching to eco-friendly raw material for their electronic components may also add to the growth of the organic polymer electronics market during the forecast period (2018 - 2023).
Key Developments in the Market:
• October 2016: FlexEnable, the leader in the development and industrialisation of flexible organic electronics, and ISORG, the pioneer in organic photodetectors and large area image sensors in printed electronics, are the first companies to jointly launch a flexible fingerprint sensor with 500 dots per inch (dpi) image resolution. This development provides new applications for organic electronics in the field of security and surveillance, apart from the usual mobile phones and wearables applications.
Major Players - AU OPTRONICS CORPORATION, BASF, BAYER MATERIALSCIENCE AG, E. I. DU PONT DE NEMOURS AND COMPANY, UNIVERSAL DISPLAY CORPORATION (UDC), FLEXENABLE, ISORG, LG DISPLAY, SAMSUNG DISPLAY, AND KONINKLIJKE PHILIPS N.V., amongst others.
Reasons to Purchase the Report
• Analysing the advancements in organic polymer electronics market changing market scenario
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• Identifying the type of service and end user is expected to dominate the market
• Identifying the regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
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