Organic Electronics Market

[275 Pages Report] The global organic electronics market is projected to grow from USD 59.9 billion in 2023 to USD 142.1 billion by 2028, registering a CAGR of 18.9% during the forecast period. The organic electronics market has experienced significant growth driven by rising adoption of OLED displays in various applications, rising demand for flexible and lightweight devices, and emerging applications in the automotive and healthcare industries. These factors have collectively contributed to the expansion of the market, as organic electronic devices offer unique advantages and cater to evolving consumer needs in various industries. Continued research and development efforts, along with new market-driven technologies such as, mini-LED and micro-LED, are expected to further propel the growth of the organic electronics market in the coming years.

Organic Electronics Market Forecast to 2028

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Market Dynamics:

Driver:  Surging adoption of OLED displays in various applications

The surging demand for OLED (Organic Light-Emitting Diode) displays in various applications has been a key driver of the growth in the organic electronics market. OLED displays offer numerous advantages over traditional display technologies, such as LCD (Liquid Crystal Display), including superior image quality, vibrant colors, high contrast ratios, wide viewing angles, and fast response times. OLED displays have gained significant popularity in the consumer electronics industry, with smartphones, televisions, and wearable devices being major applications. The demand for smartphones with OLED displays has grown substantially due to their slim form factor, energy efficiency, and ability to produce deep blacks and vibrant colors. Similarly, OLED televisions have garnered attention for their high picture quality and flexibility in design.

In addition to consumer electronics, OLED displays are finding applications in other industries. Due to their customizable designs and improved visibility, automotive manufacturers are incorporating OLED displays in vehicle dashboards, infotainment systems, and lighting solutions. The lighting industry is also adopting OLED technology for energy-efficient and aesthetically pleasing lighting solutions. The increasing adoption of OLED displays in various applications has driven the demand for organic electronic materials and components. Manufacturers are investing in research and development to improve OLED displays' performance, efficiency, and durability. Efforts are underway to increase the lifespan of OLED panels and reduce manufacturing costs to make them more accessible to a wider range of applications. Overall, the surging demand for OLED displays in various sectors is a significant driving force behind the growth of the organic electronics market. As technology advances and production costs decrease, OLED displays are expected to penetrate different industries further, propelling the expansion of the organic electronics market.

Restraint: Limited market penetration

The limited market penetration of organic electronic devices can be attributed to several factors, including the technology’s relative immaturity and cost considerations. Organic electronics are still in the early stages of development, and while their performance and stability are improving, they have not yet reached the same level as traditional inorganic electronics. This can create reluctance among consumers and manufacturers to fully adopt organic electronic devices. Additionally, the production processes for organic electronics, such as printing or coating, are not as streamlined or cost-effective as those for inorganic electronics. As a result, the manufacturing costs of organic electronic devices can be higher, making them less competitive in terms of pricing. Achieving economies of scale becomes challenging due to the limited market size and the need for significant investments in research, development, and manufacturing infrastructure. However, ongoing advancements and increasing investments in the field are expected to address these limitations and gradually expand the market for organic electronic devices.

Opportunity: Developing new applications in the consumer electronic industry

Organic electronic devices are paving the way for exciting new applications. Flexible displays like foldable smartphones and curved OLED screens are revolutionizing the consumer electronics industry by offering unique form factors and enhanced user experiences. Additionally, organic electronic devices are being utilized to develop smart labels and packaging, enabling features like interactive product information, authentication, and real-time monitoring of product conditions. Another promising application is the integration of organic sensors into various industries, including healthcare, environmental monitoring, and smart homes. These sensors can detect and measure parameters like temperature, humidity, pressure, and chemical concentrations. By combining flexibility, lightweight design, and customizable properties, organic electronic devices drive innovation in multiple sectors and open up new possibilities for advanced electronics. The ongoing research and development efforts in organic electronics are expected to expand the range of applications further and accelerate the market penetration of these promising technologies.

Challenge: Competition from traditional electronic technologies

Organic electronics face stiff competition from traditional electronic technologies, particularly silicon-based electronics. Silicon-based technologies have a significant advantage in terms of their technological maturity and established manufacturing processes. They have been extensively researched, optimized, and commercialized for decades, resulting in high-performance, reliable devices with well-established production yields. In contrast, organic electronics are still in the early stages of development, and their performance and stability are continually being improved. However, organic electronics offer unique advantages such as flexibility, lightweight, and low-cost manufacturing, which make them suitable for specific applications. To overcome the competition, ongoing research and development efforts are focused on improving the performance, stability, and scalability of organic materials and devices and developing new manufacturing techniques. Increasing market demand, technological advancements, and collaborations between industry and academia are expected to drive the growth and adoption of organic electronics, leading to a more competitive position in the electronic devices market.

Organic Electronics Market Ecosystem

The organic electronic market ecosystem consists of various entities and components that contribute to developing, producing, distributing, and utilizing organic electronic products. Dominant companies in this market include Merck KGaA (Germany), BASF SE (Germany), Covestro (Germany), DuPont (US), AUO Corporation (Taiwan), Sony Corporation (Japan), Samsung Display (South Korea), LG Display Co., Ltd. (South Korea), Sumitomo Chemical Co., Ltd. (Japan), Universal Display Corporation (US), Konica Minolta, Inc. (Japan), and Novaled GmbH (Germany).

By material, semiconductor material to account for the largest share of the organic electronics market

Semiconductor materials dominate the organic electronics market, accounting for a significant portion of the market share. Semiconductor materials are vital for the fabrication of various organic electronic devices, including OLED displays and organic photovoltaic cells. Semiconductor materials in organic electronics primarily refer to organic semiconductors, which are carbon-based compounds with semiconducting properties, such as polymers. These materials possess the ability to transport charge carriers (electrons or holes) within the device structure. In OLED displays, organic semiconductors are used to create the emissive layers responsible for generating light when an electric current passes through them. These semiconductors enable the precise control of charge carriers, allowing for the production of vibrant colors and efficient light emission. Similarly, in organic photovoltaic cells (OPV), semiconductor materials are crucial for absorbing and converting light energy into electrical energy. Organic semiconductors act as the active layer in OPV devices, capturing photons and generating electron-hole pairs that lead to electricity production.

The dominance of semiconductor materials in the organic electronics market stems from their indispensable role in the functionality of key devices. As a result, research and development efforts continue to focus on optimizing semiconductor materials, improving their charge transport properties, stability, and efficiency to enhance the performance of organic electronic devices.

By application, the display segment is expected to account for the largest share during the forecast period

The display applications represent the largest market segment for organic electronics. The popularity of OLED displays has significantly contributed to the growth of the organic electronics market, particularly in consumer electronic devices like smartphones, televisions, and laptops. OLED displays offer numerous advantages over traditional display technologies, including LCD (Liquid Crystal Display). They provide vibrant colors, high contrast ratios, wide viewing angles, fast response times, and the ability to achieve thin and flexible form factors. These features have made OLED displays increasingly popular among consumers, driving the demand for organic electronic materials and components. OLED displays have witnessed widespread adoption in the smartphone industry, with major manufacturers incorporating them into their flagship devices. The superior image quality, energy efficiency, and slim designs of OLED displays have contributed to their popularity in smartphones.

Additionally, OLED displays have found significant applications in the television industry. The ability to produce deep blacks and vibrant colors, along with the flexibility in design, has led to the production of high-quality OLED televisions. Furthermore, OLED displays have made their way into laptops, tablets, smartwatches, and other wearable devices. OLED displays' lightweight and flexible nature make them ideal for portable devices where form factor and energy efficiency are critical. The growing demand for OLED displays in these various devices has propelled the expansion of the organic electronics market, with display applications being the largest segment. As technology advances, OLED displays are expected to penetrate further into different sectors and drive the growth of the organic electronics market.

Asia Pacific is projected to account for the largest share of the overall organic electronics market by 2028

Organic Electronics Market by Region

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Asia Pacific region is the largest market for organic electronics. This is primarily attributed to the presence of major electronics manufacturing countries within the region, including China, Japan, and South Korea. China, in particular, has emerged as a global hub for electronics manufacturing, with a vast consumer base and a well-established supply chain. The country’s large-scale production capabilities and cost-effective manufacturing processes have contributed to its dominance in the organic electronics market. China's robust electronics industry supports the production of a wide range of devices, including smartphones, televisions, and wearable devices, which are major applications for organic electronic components like OLED displays.

On the other hand, Japan has a long-standing reputation for technological innovation and is a major player in the electronics industry. The country has been at the forefront of organic electronics research and development, contributing to advancements in the field. Japanese companies have played a significant role in commercializing organic electronic devices, particularly in display applications. South Korea is another key player in the Asia Pacific organic electronics market. The country is known for its major electronics conglomerates that have significantly contributed to developing and producing organic electronic devices. South Korean companies have been pioneers in the mass production of OLED displays, driving the growth of the organic electronics market.

The strong presence of these electronics manufacturing countries, along with their investment in research and development, infrastructure, and production capabilities, has propelled the Asia Pacific region to become the largest market for organic electronics. The region's dominant position is expected to continue as demand for electronic devices and the adoption of organic electronic technologies further increase in the coming years.

Key Market Players

Merck KGaA (Germany), BASF SE (Germany), Covestro AG (Germany), DuPont (US), AUO Corporation (Taiwan), Sony Corporation (Japan), Samsung Display (South Korea), Lg Display Co., Ltd. (South Korea), Sumitomo Chemical Co., Ltd. (Japan), and Universal Display Corporation (US) are some of the key players in the organic electronics companies.

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Scope of the Report

Organic Electronics Market Highlights

This research report categorizes the organic electronics market based on material, application, end-user, and region.

Recent Developments

• In June 2023, Kaynemaile, a renowned worldwide provider of architectural mesh solutions for commercial, residential, and public buildings, has chosen Covestro's Makrolon RE for its innovative (resin) RE bio-circular architectural mesh. Makrolon RE, a sustainable polycarbonate material, has been selected by Kaynemaile to enhance their architectural mesh offerings' performance and environmental credentials.
• In May 2023, Merck introduced new silicon dielectrics processed ALD technology, enabling flexible OLEDs in superior display devices. The increasing popularity of free-form devices featuring fully flexible OLED displays highlights a significant trend in data-driven electronics.
• In April 2023, LAPP, a leading provider of integrated cable and connection technology solutions, partnered with BASF to incorporate a new bio-based plastic into their product range. This plastic, known as Organic ETHERLINE, is developed by BASF and offers a sustainable alternative for various cable applications.
• In January 2023, LG Display Co, Ltd. launched advanced automotive displays utilizing their P-OLED and LTPS LCD. The displays will provide enhanced picture quality, high resolution and wide viewing angle. The automotive P-OLED is based on Tandem technology, that uses two organic light emitting layers to offer greater brightness and durability than single-layered OLED.
• In December 2022, AUO Display Technology has partnered with Renovatio-pictures, a Hollywood-based visual effects company, to create a new production solution for the Taiwanese film industry. The solution combines AUO's high-quality display technology with Renovatio-pictures’ expertise in visual effects to create a more immersive and realistic viewing experience for audiences.

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