Conductive Polymers Market Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast to 2024
The global conductive polymers market is growing due to the increasing preference for lightweight and high-performance electronic products, as well as a growing demand for polymers in a wide range of applications. In 2017, the domain generated revenue of $4,441.7 million and is projected to reach $7,341.2 million by 2023, advancing at a CAGR of 8.7% in the forecast period (2018–2023). Conductive polymers, in simple terms, are organic polymers, through which electricity flows easily. These polymers can act as both metallic conductors and semiconductors.
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On the basis of type, the conductive polymers market is classified into polycarbonates, polyaniline, polyphenylene-based resin, inherently conductive polymer (ICP), and others. Among these, in 2017, the polyaniline category dominated the market with a revenue contribution of more than 30.0%, owing to its application in fuel cells, sensors, batteries, and supercapacitors. Further, its stability at high temperatures and in the presence of corrosive substances has been another reason for its dominance in the market.
Similarly, when segmented by application, electrostatic discharge (ESD) and electromagnetic interference (EMI) protection, antistatic packaging, actuators, sensors, solar cells, capacitors, batteries, and others are the categories of the conductive polymers market. Out of these, in 2017, ESD and EMI protection was the largest category, with a revenue contribution of over 25.0%. The ability of conductive polymers to reduce the damage caused by transient surges, overcurrent, and overvoltage in several industrial and consumer applications was one of the reasons ESD and EMI protection was the largest application area in the market.
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In 2017, North America was the largest revenue contributor to the conductive polymers market, with more than 55.0% share. Due to the continuous advancements in technology for the upgradation of electronic products by key players, the market grew steadily in the region. Conductive polymers have a wide application area, owing to their numerous benefits, such as electromagnetic shielding of electronic circuits, the potential to be used as anti-static coating material to hinder the electrical discharge exposure on photographic emulsions, and possession of optical and electronic properties generally associated with inorganic compounds and metals.
Conductive polymers have a large scope in the electrical and electronics industry, owing to the increasing consumer demand for technologically advanced products. There has been a rise in the demand for displays, flexible and wearable electronics, and other inorganic semiconductors. Further, the demand for lightweight and high-performance materials for electronic items, such as laptops, cell phones, and gadgets, is also rising. Across the globe, the U.S., China, and Japan dominated the manufacturing of these products, thereby driving the conductive polymers market.
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In the past few years, there has been a considerable increase in the usage of electricity, particularly in developing nations, such as India, China, and Indonesia, owing to the improving living standard. The high consumption of electricity, coupled with environmental problems in these countries, has significantly raised the demand for energy-efficient solutions. As a result, fluorescent and compact fluorescent lamp (CFL) bulbs are being replaced by LED bulbs, because these are more efficient and consume less power.
Hence, the increasing preference for lightweight, better-performing and energy-efficient electronic products is escalating the conduction polymer market growth.