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Conductive Polymers Market Overview
The Conductive Polymers Market size is
forecasted to grow at a CAGR of 4.7% during the forecast period 2022-2027 and
reach US$4.7 billion by 2027. Conductive polymers are
organic polymers capable of conducting electricity. They can be categorized into various types
which include polyacetylene, polyaniline, polyfuran, polythiophene, polypyrrole
and more. In 2020, the COVID-19 lockdown had significantly reduced production
activities as a result of the country-wise shutdown of manufacturing sites,
shortage of labor and the decline of the supply and demand chain all across the
world, thus, affecting the conductive polymers industry. However, a steady
recovery in automobile production has been witnessed in India since 2021. Conductive polymers are primarily used in the
automotive industry for the production of LED lighting, sensors, batteries and
other electronic applications. For instance, according to the International
Organization of Motor Vehicle Manufacturers (OICA), the total global automobile
production reached 80.2 billion units in 2021, an increase of 3% as compared to
77.7 billion units in 2020. An increase in automotive production along with the surging demand from the solar power industry is expected to drive the growth of the
conductive polymers market size in the upcoming years. On the other hand, the low
conductivity of conductive polymers may confine the growth of the market.
Conductive Polymers Market Report Coverage
The “Conductive
Polymers Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis
of the following segments in the Conductive
Polymers Market.
By Type: Polyacetylene, Polyaniline,
Polypyrrole, Polythiophene, Polyfuran, Others
By Synthesis
Process:
Chemical Synthesis and Electro Copolymerization
By Application: Solar Cells, Printed Electronic Circuits,
Light-Emitting Diodes, Actuators, Supercapacitors, Sensors, Displays,
Bio-Implants, Others
By End-Use
Industry: Automotive
(Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Aerospace
(Commercial, Military, Others), Electrical & Electronics, Power Generation,
Medical, Coatings, Others
By Geography: North America (USA, Canada and
Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Denmark,
Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South
Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of
Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile and the Rest
of South America), the Rest of the World (the Middle East and Africa)
Key Takeaways
- The polyaniline segment held a significant share in the Conductive Polymers Market in 2021. Its wide range of characteristics and excellent chemical resistance made it stand out in comparison to other types of conductive polymers in the market.
- Electrical & electronics industry held the largest share in the Conductive Polymers Market in 2021, owing to the increasing demand for conductive polymers required for the production of electronic components, such as displays, batteries, OLED, printing electronic circuits, actuators and other electronic components.
- Asia-Pacific dominated the Conductive Polymers Market in 2021, owing to the increasing demand for conductive polymers from the electrical & electronic sectors in the region.
- A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Conductive Polymers Market Report.
Figure: Asia-Pacific Conductive Polymers Market Revenue, 2021-2027 (US$ Billion)
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Conductive Polymers Market Segment Analysis – by Type
The polyaniline segment held a significant Conductive
Polymers Market share in 2021, owing to its increasing demand due to
the benefits it offers over other types of conductive. For instance, polyaniline
offers a controllable and wide range of conductivity as compared to
polyacetylene, polypyrrole, polyfuran and other types of conductive polymers.
It can be easily blended with various commodity polymers which include polyethylene,
polypropylene, polystyrene and more. Moreover, it offers higher melt processing
performance along with excellent chemical resistance, flexibility and
adaptability in comparison to other types of conductive polymers, which makes
it ideal for use in electronic equipment and devices. Hence, all of these
benefits are driving its demand over other types of conductive polymers, which
in turn, is expected to boost the market growth during the forecast period.
Conductive Polymers Market Segment Analysis – by End-Use Industry
The electrical & electronics industry held
the largest Conductive Polymers Market share of over 25% in 2021, owing to its
increasing demand from the electrical & electronics sectors across the
world. For instance, according to recent insights published on Growth from
Knowledge (GRK) in September 2021, the global consumer electronics industry
obtained a total revenue growth of US$42.8 billion during the first quarter of
2021, an increase of 18% in comparison to 2020, owing to an increase in
electronic production. It further states that the GDP growth rate of consumer
electronics which includes electronic appliances and gadgets such as
smartphones, computers, television, laptops, tablets and more in countries like
India, China, the U.S and regions like Europe is expected to increase up to
8.1%, 5.7%, 1.4% and 1.7% respectively by the end of 2022. According to the Japan Electronics and Information Technology
Industries Association (JEITA), the electronics production by the global
electronics and IT industries is expected to increase by 5% and reach up to US$3,536.6
billion by the end of 2022 as compared to 2021. Furthermore, the total production of display
devices by the global electronics industry reached up to US$178.3 billion in
2021, an increase of 24% from US$144.2 billion in 2020.
In this way, such surging electronic
production across the world is expected to increase the demand for conductive
polymers such as polyacetylene, polyaniline, polypyrrole and more, for use in
printed electronic circuits, light-emitting diodes, capacitors, sensors and
other components of such electronic devices. This is expected to expand the
growth of the conductive polymers market size during the forecast period.
Conductive Polymers Market Segment Analysis – by Geography
The Asia Pacific held a dominant Conductive
Polymers Market share of around 46% in the year 2021. The consumption of conductive
polymers is particularly high in this region due to its increasing demand from
the electrical & electronics sector. For instance, according to recent
insights from the Semiconductor Industry Association, China accounted for
around 35% of the world’s electronic devices and was responsible for 30% to 70%
of the global PC, TV and mobile phone shipments in 2020. According to the Japan
Electronics and Information Technology Industries Association (JEITA), the
global total electronics production by Japanese electronics and IT companies
reached ¥37,300 billion (US$339.7 billion) in 2021, an increase of 8% in
comparison to 2020. Furthermore, according to a recent study published in the
Economic Times (Telecom) in 2021, electronic manufacturing and production were
valued at around US$100 billion in India. It further states that mobile
manufacturing in India surpassed INR 90000 crore (US$12 trillion) in 2021, as
per the statement made by the Indian IT Minister.
Thus, the surging growth of the electronics sector in the region is expected to increase the demand for conductive polymers such as polyacetylene, polyaniline, polypyrrole and more, for the production of capacitors, sensors, printed electronic circuits, light-emitting diodes and other electronic components utilized in such industry. This is expected to accelerate the market growth during the forecast period.
Conductive Polymers Market Drivers
An increase in automobile production
Conductive polymers are primarily used in the
automotive industry for the production of LED lighting, sensors, printed
circuit boards, batteries and other electronic applications. Its properties
such as controllable and wide range of conductivity, higher melt processing
performance along with excellent chemical resistance, flexibility and
adaptability make them ideal for use in such automotive applications. According
to a recent study published by the German Association of Automotive Industry
during the fourth quarter of 2020, the new registration of motor vehicles
reached up to 16,763 units in Europe, 37,467 units in Asia, 3080 units in South
America, 17,421 units in North America, 12,733 units in Western Europe and 5180
units in other regions worldwide. Likewise, in August 2021, Ford commenced the
development of its automobile plant in Germany. The new facility will be
responsible for the assembly of a new electric vehicle and aims at increasing
electric vehicle production in the country. Hence, an increase in production
from the automotive industry is expected to increase the demand for conductive
polymers, owing to their above-mentioned properties. This is expected to
accelerate the growth of the market in the upcoming years.
Surging demand from the solar power industry
Conductive polymers such as polypyrrole and
polyaniline are primarily used in the production of solar cells, transistors
and other solar applications, owing to their lower costs and high electrical
conductivity. According to the Global Outlook for Solar Power Industry
published by the Global Solar Council, a total of 138.2 GW solar PV capacity
was installed across the world during 2020, which indicated an increase of 18%
in comparison to 117.6 GW solar in the year 2019. China was the leading country
with 48.2 GW of solar PV capacity installed in 2020. This is followed by the US
with 19.3 GW, Vietnam with 11.6 GW, Japan with 8.2 GW and Australia with 5.1 GW
of total solar PV capacity installed by 2020. Furthermore, in 2019, the Middle
East Solar Industry Association (MESIA) announced that at least US$15 billion
worth of solar power projects are expected to operate in the region in the next
five years. Thus, such a surging implementation of solar energy along with the
growth of the solar power industry is expected to increase the demand for
conductive polymers for use in solar cells, transistors and other solar
applications, owing to their high electrical conductivity. This upsurge is
expected to drive the growth of the market in the upcoming years
Conductive Polymers Market Challenges
Low conductivity of conductive polymers
Conductive polymers exhibit lower electrical and
thermal conductivity in comparison to metals. Higher initial tooling costs,
limited range of working temperature and higher lead time for tool development
are some of the common problems associated with the production of conductive
polymers. Moreover, conductive polymers have poor electroactive stability and
lesser processability in comparison to metals. They also have poor mechanical
strength and are less stable at higher temperatures as opposed to metals.
Furthermore, in the case of storage, conductive polymers can lose their conductivity. Thus, all of these limitations
associated with conductive polymers may confine the growth of the conductive
polymers industry during the forecast period.
Conductive Polymers Industry Outlook
Technology launches, acquisitions and R&D
activities are key strategies adopted by players in the Conductive Polymers
Market. The top companies in Conductive Polymers Market are:
- 3M Company
- Covestro AG
- Eeonyx Corporation
- Henkel AG & Co. KGaA
- Hyperion Catalysis International
- KEMET Corporation
- MacDermid, Inc.
- Merck & Co., Inc.
- PolyOne Corporation
- The Lubrizol Corporation
Relevant Reports
Report Code: CMR 0300
Report Code: CMR 0065
Report Code: CMR 0490
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