Conducting Polymers Market by Type (Electrically Conductive, Thermally Conductive) application( ESD/EMI Shielding, Antistatic Packaging, Electrostatic Coating, Capacitor), and Region(APAC, Europe, North America, MEA) - Global Forecast to 2028
Conducting Polymers Market
The global conducting polymers market was valued at USD 5.8 billion in 2022 and is projected to reach USD 9.6 billion by 2028, growing at a cagr 8.8% from 2023 to 2028. The market is mainly led by the significant usage of conducting polymers technology in various end-use industries. The growing demand from the electronics industry, rising demand for energy storage materials, and demand form medical industries are driving the market for conducting polymers.
Attractive Opportunities in the Conducting Polymers Market
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Conducting Polymers Market Dynamics
Driver: Advancements in miniaturizing of electronic components
Advancements in the miniaturization of electronic components have been a driving force in the development of conducting polymers. Conducting polymers offer unique advantages and play a significant role in enabling miniaturization in electronics. There are several advantages of miniaturization such as lower costs and higher speed. These developments need for more resourceful materials that can efficiently dissipate thermal energy in even little area of component. These products/materials must have high thermal conductivity in order to transfer heat for cooling.
Restraint: Comparitively lower thermal conductivity than traditional materials
The relatively lower conductivity of thermally conducting polymers compared to traditional materials poses a constraint on their utilization in certain applications, particularly in industries such as power plants and machinery, where high conductivity is a critical factor in addition to design considerations. The need for efficient heat transfer and dissipation in these applications requires materials with superior thermal conductivity properties. While thermally conducting polymers offer advantages in terms of design flexibility and weight reduction, their lower conductivity limits their suitability for applications where conductivity is the primary determining factor.
Opportunity: Booming LED market in developing nations
The thriving LED market provides a substantial opportunity for conducting polymers. Conducting polymers possess distinctive properties that make them well-suited for integration into LEDs, contributing to the expansion and progress of this market. LED lights are recognized as a sustainable alternative to traditional lighting systems, offering significant energy savings. The use of thermally conductive polymers in LEDs aids in enhancing their thermal performance and extends their operational lifespan.
Challenge: Electroactive Stability of Conducting Polymers can be poor
One of the major challenges confronting conducting polymers is their limited electroactive stability. Over time, these polymers can degrade or lose their ability to conduct electricity when exposed to environmental elements. Factors such as moisture, oxygen, and chemical interactions can contribute to this degradation. To overcome the challenge of poor electroactive stability, ongoing research focuses on improving the durability and stability of conducting polymers.
Market Ecosystem
A market ecosystem refers to the interconnected network of individuals, businesses, and other organizations participating in a particular market. It includes various stakeholders such as producers, distributors, retailers, Customers, and regulatory bodies that interact with each other to exchange goods, services, and information. Prominent companies in the market are the ones who are well-established and financially stable and have state-of-the-art technologies and a strong global marketing network and sales record. Saudi Arabia Basic Industries Corporation( Saudi Arabia), Henkel AG & Co. KGaA (Germany) , 3M (US), Agfa- Gevaert NV (Belgium), Celanese Corporation (US), Covestro AG (Germany),Heraeus Holding GMBH (Germany), Avient Corporation (US), Solvay SA (Belgium), The Lubrizol Corporation (US) are the leading manufacturers and service provider of conducting polymers.
Conducting Polymers Market Ecosystem
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
"Electrically Conductive Polymers is the largest type of of conducting polymers in 2023, in terms of value"
Electrically Conductive polymers accounted for the largest market share in the global conducting polymer market, in terms of value, in 2023. However, Thermally conductive is projected to grow at the highest CAGR in value during the forecast period. Electrically conducting polymers are in demand as a result of expanding markets in the building and construction, electrical & electronics, and automotive industries.
"ESD/EMI Shielding was the largest applicaton for conducting polymers market in 2023, in terms of value"
The ESD/EMI shielding, by application, accounted for the largest market share in the global conducting polymers market, in terms of value, in 2023. However, electrostatic coating is projected to grow at the highest CAGR in value during the forecast period. Electrostatic discharge is prevented by ESD/EMI shielding, and as the electronics industry continues to increase, so will demand for this applications.
"North America was the largest market for conducting polymers in 2023, in terms of value."
North America was the largest market for the global conducting polymers market, in terms of value, in 2023. US is the largest market in the North America. While , Mexico is projected to witness the highest growth during the forecast period considering the increase in demand for electronic application along with the increasing population and urbanization. The major players operating in the North America region include Celanese Corporation, 3M, Avient Corporation, among others.
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Key Market Players
The key players in this market Saudi Arabia Basic Industries Corporation( Saudi Arabia), Henkel AG & Co. KGaA (Germany) , 3M (US), Agfa- Gevaert NV (Belgium), Celanese Corporation (US), Covestro AG (Germany),Heraeus Holding GMBH (Germany), Avient Corporation (US), Solvay SA (Belgium), The Lubrizol Corporation (US). Continuous developments in the market—including new product launches, mergers & acquisitions, agreements, and expansions—are expected to help the market grow. Leading manufacturers of conducting polymers have opted for new product launches to sustain their market position.
Conducting Polymers Market Report Scope
|
Report Metric |
Details |
|
Market Size Value in 2022 |
USD 5.8 billion |
|
Revenue Forecast in 2028 |
USD 9.6 billion |
|
CAGR |
8.8% |
|
Years considered for the study |
2019-2028 |
|
Base Year |
2022 |
|
Forecast period |
2023–2028 |
|
Units considered |
Value (USD Billion/Million) |
|
Segments |
Type, Application, and Region |
|
Regions |
Asia Pacific, North America, Europe, Middle East & Africa, and South America |
|
Companies |
Saudi Arabia Basic Industries Corporation( Saudi Arabia), Henkel AG & Co. KGaA (Germany) , 3M (US), Agfa- Gevaert NV (Belgium), Celanese Corporation (US), Covestro AG (Germany),Heraeus Holding GMBH (Germany), Avient Corporation (US), Solvay SA (Belgium), The Lubrizol Corporation (US). |
This report categorizes the global conducting polymers market based on type, application and region.
On the basis of type, the conducting polymers market has been segmented as follows:
- Electrically Conductive
- Thermally Conductive
On the basis of application, the conducting polymers market has been segmented as follows:
- ESD/EMI Shielding
- Antistatic Packaging
- Electrostatic Coating
- Capacitor
- Others.
On the basis of region, the conducting polymers market has been segmented as follows:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Central & South America
Recent Developments
- In 2022 Celanese Corporation acquired significant portion of DuPont’s Mobility and Materials business to expand its product portfolio.
- In 2023 Henkel AG&Co KgaA announced its partnership with Imakr to provide industrial customers in UK and Ireland with its companys Loctite 3D printing product portfolio.
- In January 2020, Heraeus Holding GMBH announced its partnership with Myant Inc to jointly develop a solution utilizing the company’s Tecticoat coating for electrical sensing applications in textiles.
- In September 2022, Saudi Arabia Basic Industries Corporation partnered with Conventus Polymers, it assigned it as a authorized distributor of its high performance engineering thermoplastics in North America.
- In March 2022, Slovay SA announced its partnership with Mitsubishi Chemicals Advanced Materials and collaborated on a sustainable initiative in regards to Solvays Udel high performance polysulfone thermoplastics.
Frequently Asked Questions (FAQ):
What is the expected growth rate of the conducting polymers market?
This study's forecast period for the conducting polymers market is 2023-2028. The market is expected to grow at a CAGR of 8.8%, in terms of value, during the forecast period.
Who are the major key players in the conducting polymers market?
3. What are the major regulations of the conducting polymers market in various countries?
What are the major regulations of the conducting polymers market in various countries?
Regulatory bodies like Environmental Protection Agency regulates the use and disposal of chemicals, including conducting polymers, to protect human health and the environment. The International Electrotechnical Commission (IEC) develops international standards for electrical and electronic devices, including conducting polymer-based components.
What are the drivers and opportunities for the conducting polymers market?
The demand from the booming LED markets in developing countries along with advancements in minituarization of electronic components.
Which are the key technology trends prevailing in the conducting polymers market?
Conducting polymers find applications in smart packaging and IoT devices, where they enable functionalities such as sensing, wireless communication, and energy harvesting. The integration of conducting polymers with additive manufacturing techniques, such as 3D printing, opens up new possibilities for complex geometries and customized electronic devices. .
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The study involved four major activities in estimating the market size of the conducting polymers market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information for this study. These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, trade directories, articles from recognized authors, the gold standard and silver standard websites, and databases.
Secondary research has been used to obtain key information about the value chain of the industry, the monetary chain of the market, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The conducting polymer market comprises several stakeholders in the value chain, which include raw material suppliers, component manufacturers, distribution and end-users. Various primary sources from the supply and demand sides of the conducting polymers market have been interviewed to obtain qualitative and quantitative information. The primary interviewees from the demand side include key opinion leaders in end-use sectors. The primary sources from the supply side include manufacturers, associations, and institutions involved in the conducting polymers industry.
Primary interviews were conducted to gather insights such as market statistics, data of revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, type, application, and region. Stakeholders from the demand side, such as CIOs, CTOs, and CSOs were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of conducting polymer and the future outlook of their business, which will affect the overall market.
The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2023 available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
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|
Company Name |
Designation |
|
3M |
Individual Industry Expert |
|
Agfa-Gevaert NV |
Sales Manager |
|
Celanese Corporation |
Director |
|
Covestro AG |
Marketing Manager |
|
Henkel AG & Co KGaA |
R&D Manager |
Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the size of the conducting polymers market.
- The key players in the industry have been identified through extensive secondary research.
- The industry's supply chain has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research includes the study of reports, reviews, and newsletters of the key market players, along with extensive interviews for opinions with leaders such as directors and marketing executives.
Conducting Polymers Market: Bottum-Up Approach
Note: All the shares are based on the global market size.
Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis
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Conducting Polymers Market: Top-Down Approach
Data Triangulation
After arriving at the total market size from the estimation process explained above, the overall market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with this, the market size has been validated by using both the top-down and bottom-up approaches and primary interviews. Hence, for every data segment, there have been three sources—top-down approach, bottom-up approach, and expert interviews. The data was assumed correct when the values arrived from the three sources matched.
Market Definition
Conducting polymers possess an extended pi-conjugated system, characterized by the overlap of singly occupied p-orbitals along the polymer chain. This unique molecular structure gives rise to a range of properties such as electrical conductivity, optical behavior, electronic, magnetic , microwave absorption, wetting characteristics, and mechanical properties. The conductivity of conducting polymers is influenced by factors such as the length of conjugation, arrangement of polymer chains, level of doping, and purity of the sample. Conducting polymers possess a distinct characteristic wherein the main chain of the polymer exhibits a conjugated molecular structure. This molecular arrangement enables the polymers to acquire conducting properties upon doping.
Key Stakeholders
- Conducting polymer manufacturers
- Conducting polymer suppliers
- Raw material suppliers
- Service providers
- Government bodies
- Conducting polymer distributors
Report Objectives
- To define, describe, and forecast the size of the conducting polymers market, in terms of value.
- To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
- To estimate and forecast the market size based on type, application and region.
- To forecast the size of the market with respect to major regions, namely, Europe, North America, Asia Pacific, Middle East & Africa, and Central & South America, along with their key countries.
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market.
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders.
- To track and analyze recent developments such as expansions, new product launches, partnerships & agreements, and acquisitions in the market.
- To strategically profile key market players and comprehensively analyze their core competencies.
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players
Growth opportunities and latent adjacency in Conducting Polymers Market