Organic Electronic Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of Organic Electronic market was USD 82.1 billion in 2022, and CAGR of 19.1% during the forecast period. Organic Electronic encompasses carbon-based materials. Rising adoption of OLED display in various applications is driving the demand for organic electronic market. Increasing demand for flexible, and light-weight devices and trend of mini-LED, and micro-LED is further expected to propel the growth in the market significantly.

Organic electronics have several advantages over silicone-based electronics. Flexibility, low cost manufacturing, Large area coverage, Lightweight, and biodegradability, along with tunable properties are the reason behind the popularity of organic electronic market. Lower carrier mobilities, and shorter device life time are some of the limitations, Organic electronic market is having.

Impact of Covid-19

Like many other industries, Organic electronics market also faced supply chain disruptions due to factory closures, restrictions in transportation, and disruption in raw material supply. The pandemic has led to changes in consumer behavior, with increased demand for products such as wearable health monitoring devices, and flexible displays, which are areas where organic electronic market do excel. Economic uncertainties caused due to pandemic led to the fluctuations in investment and funding for research and development in organic electronics sector. The increasing adoption of remote work education, and entertainment, during the pandemic has highlighted the importance of electronic devices with features such as low power consumption, and light weight is driving further interest, and investment in organic electronics market.

Growth Drivers

Increasing awareness among people about the use of carbon-made flexible and light-weight devices, unlike silicone-based electronic equipment. The surge in demand for OLED displays in various electronic devices is the key factor behind the growth in the market. Superior image qualities and vibrant colors are the features of OLED, which give them an edge over LCD.

High picture quality and flexibility in design are the features that exceed the demand for organic electronic equipment. Manufacturers are putting in magnificent efforts to improve OLED displays performance and durability. The increasing demand for OLED displays in various fields of life is the reason behind the popularity of the organic electronic market. Increasing the life-span of organic electronics is the key challenge for manufacturers.

The increasing demand for flexible electronic devices, such as displays, sensors, and lighting solutions, is fueling growth in the organic electronics sector. Flexibility and low-cost manufacturing are the reasons behind the demand for organic electronic devices. Ongoing research and development activities are leading to technological advancements in organic electronics, resulting in improved performance, durability, and efficiency.

There is an increasing demand for organic electronics components in smart phones, wearables, and smart appliances. Organic electronics are finding applications in automotive, aerospace, and other industries. Organic electronics are more environmentally friendly and are in demand. Organic electronics are superior in quality, and thus its demand is increasing with time.

Segmentation

By Application

·         Display

·         Lighting

·         Solar Cells

By Material

·         Semi-Conductor

·         Conductive

·         Dielectric

·         Substrate

By End-User

·         Consumer Electronics

·         Health Care

·         Automotive

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Organic Electronics Market by Application Segmentation

On the basis of application, the organic electronics market is segmented into display, lighting, and solar cells. Display is the leading segment and is expected to dominate the market during the forecast period. Due to their flexibility, lightweight displays are in high demand. It ensures energy-efficient operation; thus, it is increasing in demand. OLED displays offer superior color reproduction and contrast ratios compared to LCDs, providing vibrant colors, deeper blacks, and sharp images.

Visual quality enhances the user experience. Organic electronics display is versatile and is used in various applications beyond consumer electronics, including automotive displays, lighting panels, and signal devices. Ongoing research and development activities in organic electronics, particularly in OLED technologies, have led to continuous improvement in performance, durability, and efficiency.

Organic Electronics Market by End-User Segmentation

On the basis of end-user, the organic electronics market is segmented into consumer electronics, healthcare, and automotive sectors. Consumer electronics is the leading segment due to increasing demand for flexible and lightweight devices. Consumer preferences for sleek, portable, and aesthetically pleasing gadgets are driving the demand for organic electronics in smartphones, wearables, tablets, and laptops. OLED displays offer superior image quality, including vibrant colors and wide view angles.

Organic electronics components are energy efficient, consuming less power compared to traditional display technologies and battery charging systems. Organic electronics enable innovative design possibilities that are not feasible with conventional electronics. Manufacturers seeking superior quality and cutting-edge features are driving the demand for organic electronics in the market significantly. With increasing awareness of environmental issues, consumers are becoming more conscious of the environmental impact of the products they purchase. Organic electronics offer energy-saving benefits and are widely used by consumers.

Regional Outlook

On the basis of the regions, the organic electronics market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Asia Pacific, which is home to major electronics companies like Samsung, Panasonic, LG, and others, is the leading segment and is expected to dominate the market during the forecast period.

China, in particular, along with Japan, is the leading market. China’s robust electronics industry supports the production of a wide range of devices. South Korea and India are also witnessing significant growth in the market. North America is the second-leading region and is expected to lead in market share, driven by technological advancements and robust R&D activities. The presence of key players in European countries like Germany, France, Russia, England, and Nordic countries is driving the growth of the market significantly.

Rising demand for consumer electronics and flexible displays are the key factors behind the growth in the market. Increasing demand for electronic devices with OLED displays is driving demand for the organic electronics market. Organic electronic devices having an edge over silicone electronic devices is another factor behind the significant growth in the market.

Key Players

·         Sony Corporation

·         Samsung Display

·         Lg Display Co. Ltd.

·         Universal Display Corporation

·         Truly International Holdings Ltd.

·         BOE Technology

·         Panasonic Ltd.

·         Plastic Logic

·         Applied Materials

·         Japan Display Inc.

·         Other Players