Conductive Polymer Market
By Type (Polyaniline (PANI), Polypyrrole (PPY), Polyphenylene Vinylene (PPV), Poly(3,4-ethylenedioxythiophene) (PEDOT), Polyacetylene, Others), Application (Anti-Static Packaging and Coating, Photographic Film, Solar Cell, Display Screen, Polymer Capacitor, LED Lights, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027
According to a new study conducted by Research Dive, the global conductive polymer market forecast will surpass $7,118.5 million by 2027, at a CAGR of 7.7%, increasing from $4,842.8 million in 2019. The global market is commended by North America region; it accounted for $1,592.8 million in 2019 and is projected to reach up to $2,277.9 million by 2027.
COVID-19 Impact on Global Conductive Polymer Market:
The novel coronavirus emergency has had an undesirable impact on the global conductive polymer market growth in 2020. This is owing to the lockdown of various end use industrial activities such as automotive, consumer electronics, and others. For instance, COVID-19 has had a huge impact on the automotive sector owing to disruption in manufacturing of automobile parts as well as stopped activities in assembly plants that is adding pressure on the global supply chains. These aspects have a negative impact on the global conductive polymer market. During this crisis period, leading manufacturers are adopting various strategies such as product launches and new technology introductions to raise their position in the global market. For instance, in January 2020, KEMET, a leading manufacturer of electronic component, has introduced new series of polypropylene film capacitors called “R41T and R76H series AEC-Q200” for automotive industry. These films are expected to fortify the company’s product portfolio in automobile applications. This factor is projected to fuel the market growth in the emergency time.
Conductive Polymer Market Analysis:
Conductive polymers are organic polymers and environmentally friendly materials. These polymers have a comparatively wide potential window, high capacitance, and high porosity to other polymers that are being used in consumer electronics for anti-static coatings, photographic films, and other applications. Also, it has relatively low equivalent series resistance compared to many other carbon-based electrodes. Thus, it is the most suitable material for manufacturing of super-capacitor electrodes.
Rapid growth in consumer electronics industry and demand from automotive sector are the major drivers for the growth of the global conductive polymer market
Swift growth in the electronic sectors is a major driving factor for the conductive polymer market growth in the forecast years. This growth is majorly accredited to increasing consciousness about safety packaging of electronic components from electromagnetic inference, static electricity and others. This factor has augmented the utilization of conductive polymers in packaging applications owing to excellent shielding applications towards electrostatic discharge and radio frequency interference. In addition, increasing demand from automotive sector is also estimated to impel the market growth in the forecast years. This expected growth is owing to potential application of conductive polymers in battery powdered automobiles because of high energy density. Also, these materials are being used in modern vehicles such as designing of lightweight structures and play an important role in manufacturing of stiff, resistant and light vehicles with better safety; this aspect is further predicted to fuel market growth in the review time.
Availability of substitutes is a major restraint for the growth of the conductive polymer market
The easy availability of substitute materials along with low thermal conductivity compared to other alternatives is expected to limit the market growth in the forecast years. Also, high cost of conductive materials owing to fluctuations in raw material costs is further estimated to hamper the market growth in the forecast time
global conductive polymer market growth
Conductive polymer is an environmentally friendly material, and thus there is increasing utilization of these materials in production of electricity from renewable sources to minimize utilization of fossil fuels. Furthermore, government support towards ‘go green initiatives’ such as use of electric vehicles is expected to create huge growth prospects in the global conductive polymer market in the coming years. This predicted rise is owing to conductive polymers playing an important role in the production of electric vehicles components such as batteries, capacitors, sensors, and others.
Polypyrrole (PPY) conductive polymer market is expected to witness a remarkable growth during the forecast time and is estimated to generate a revenue of $934.0 million till 2027. This projected growth in conductive polymer market is majorly owing to increasing utilization of Polypyrrole materials due to excellent shielding properties, thereby, increasing use of PPY in for electronic devices packaging. Moreover, PPY is a thermally and mechanically steady material and owns excellent electrical conductivity properties like semiconductors and metals. Owing to these stable properties, PPY materials have found massive range of applications in production of LEDs, panel displays and many other applications. These aspects are estimated to enhance the market growth in the review period.
Conductive Polymer Market, Based on Application:
Anti-Static packaging and coating sub-segment accounted for the highest market size in 2019
The conductive polymer market for anti-static packaging and coating sub-segment accounted for highest market size in the previous years; it valued over $2,292.8 million and is expected to account for $3,319.5 million by 2027. This dominance is significantly due to extensive use of conductive polymers in anti-static packaging & coatings application of electronic appliances. Moreover, increasing utilization of conductive polymers in transportation of electronic devices such as consumer electronics and electronic components is expected to generate a massive demand for anti-static coatings, which is estimated to boost the market growth in the forecast years. Rising trend for adoption of innovative technologies such as micro-electromechanical systems and 3D ICs will support in the updating the user friendly and miniaturized electric devices is predicted to fuel the market growth in the coming years.
Conductive Polymer Market, Regional Overview:
North America region generated for significant revenue share in the previous years
North America accounted for the largest conductive polymer market share in the past years, which was approximately 32.9% and is predicted to continue its steady rise in the global market during the forecast time. This dominance is majorly owing to conductive polymers being extensively utilized in production of electronic components in the mobile phones, televisions and laptops across the North America. Furthermore, swift growth in the production of electricity from renewable sources such as solar energy because government favorable activities to minimize environmental pollution is expected to drive the demand for conductive polymers for solar panel manufacturing, which is estimated to boost the market growth in the North America in the forecast time. In addition, constant improvements in storage battery technology is directly fueling the adoption of conductive polymers, it is also further estimated to enhance the growth of the market in this region.
Key Participants in the Global Conductive Polymer Market:
Product launches and joint ventures are the most frequent strategies followed by the leading players
The list of key conductive polymer market players profiled include American Dyes Inc., Heraeus Holding GmbH, Sabic, Merck KGaA, Celanese Corporation, ABTECH SCIENTIFIC INC., Agfa-Gevaert Group, KEMET Corporation, Rieke Metals, LLC and Solvay. These major manufacturers are adopting various inorganic and organic developemnt tactics such as acquisitions & collaboration and R&D investments to increase their market share in the global marketplace.