Surge in demand for electronic products and increase in usage of conducting polymers in solar cell manufacturing have boosted the growth of the global conductive polymer market
PORTLAND, Oregon, April 9, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Conductive Polymer Market by Type (Polyaniline (PANI), Polypyrrole (PPy), PolyphenyleneVinylenes (PPV), PEDOT, Polyacetylene, and Others) and Application (Anti-static Coatings, Photographic Film, Solar Cell, Display Screen, Polymer Capacitor, LED Lights, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global conductive polymer industry was pegged at $3.9 billion in 2018, and is projected to reach $7.4 billion by 2026, registering a CAGR of 8.1% from 2019 to 2026.
Major driving factors
Surge in demand for electronic products and increase in usage of conducting polymers in solar cell manufacturing have boosted the growth of the global conductive polymer market. However, high cost of production hampers the market growth. On the contrary, surge in electric mobility is expected to create lucrative opportunities in the near future.
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The polyaniline (PANI) segment dominated the market
The PANI segment held the largest share in 2018, accounting for nearly one-fourth of the market, owing to its properties such as high conductivity, electroactivity, and redox activity along with magnetic, optical, and electronic properties. However, the PEDOT segment is expected to register the highest CAGR of 10.6% during the forecast period, due to increase in demand for solar equipment across the globe to produce electricity and reduce pollution and dependency on conventional fuel.
The polymer capacitor segment to portray fastest CAGR through 2026
The polymer capacitor segment is projected to manifest the highest CAGR of 9.3% during the forecast period, owing to increase in usage of electric vehicle across the globe, need to curb carbon footprint, usage of internal combustion engine, and to reduce dependency on conventional fuels, the demand for polymer capacitors. The anti-static packaging & coating segment held the largest share in 2018, contributing to nearly one-fourth of the market, due to rise in demand for portable electronic devices and increased demand for conductive polymer in antistatic packaging application.
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North America held the lion's share
The market across North America held the largest share in 2018, accounting for nearly one-third of the market, owing to the strong presence of electronics & semiconductor industry and availability of the latest technology and R&D facilities present in the region. However, the market across Europe is anticipated to portray the highest CAGR of 8.8% during the forecast period, due to increase in trend of using electric vehicles across the European Union to reduce usage of internal combustion automobiles to curb pollution and reduce dependency on fossil fuels.
Major market players
- Celanese Corporation
- Agfa Gevaert
- Heraeus Group
- Merck KGAA
- Kemet Corporation
- American Dyes Inc.
- Abtech Scientific
- Rieke Metals
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SOURCE Allied Market Research