Conductive Polymers Market - Forecast(2024 - 2030)

The Conductive Polymers Market size is forecasted to grow at a CAGR of 7.3% during the forecast period 2024-2030 and reach US$8.6 billion by 2030. 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. 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 European Automobile Manufacturers Association, 85.4 million motor vehicles were produced globally in 2022, a 5.7% increase from 2021. 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. The conductive polymers market is witnessing significant trends shaped by technological advancements and the demand for innovative electronic applications. With a growing focus on lightweight and flexible electronics, conductive polymers are gaining prominence. Applications in flexible displays, organic photovoltaics, and wearable electronics are expanding. Moreover, there's a surge in research for biocompatible conductive polymers, opening avenues in healthcare. Sustainability concerns are also driving the development of eco-friendly conductive polymers, reflecting a broader shift toward green technologies. 

 

The “Conductive Polymers Market Report – Forecast (2024-2030)” 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 (Middle East and Africa)

• The polyaniline segment held a significant share in the Conductive Polymers Market in 2023. 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 2023, 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 2023, 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.

 

                                           

The polyaniline segment held a significant Conductive Polymers Market share in 2023, 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.

The electrical & electronics industry held the largest Conductive Polymers Market share of over 25% in 2023, owing to its increasing demand from the electrical & electronics sectors across the world. The increase in electronic production 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. 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.

The Asia Pacific held a dominant Conductive Polymers Market share of around 46% in 2023. The consumption of conductive polymers is particularly high in this region due to its increasing demand from the electrical & electronics sector. As per Shanghai Municipal People's Government, the overall retail sales of China's consumer electronics sector is predicted to rise 4 percent to 2.2 trillion yuan (US$305 billion) this year, while the growth speed will further improve to 5 percent in 2024. 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 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 ACEA, the first three quarters of 2023 saw an almost 17% increase in EU automobile sales, with a 12% gain predicted for the entire year. likewise, the first three quarters of 2023 saw strong growth in both Japanese and US auto sales, rising by almost 18% and over15%, respectively.  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.

 

 

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 EcoWatch Media Group, Solar energy accounted for 45% of the new capacity added to the US electrical system in the first half of 2023. There will be the biggest rise in renewable capacity additions ever—107 GW. The renewable energy industry has demonstrated its endurance by seeing record-breaking growth in spite of supply chain bottlenecks, construction delays, and high raw material and commodity costs. In the first half of 2023, around 12 GWdc were installed, an increase from 2022. This represents a reversal of the 2022 decline in the industry. 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 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.

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:

 

1. Eeonyx Corporation
2. KEMET Corporation
3. MacDermid, Inc.
4. Merck KGaA
5. Agfa-Gevaert Group
6. Celanese Corporation
7. Toshin Kogyo Co., Ltd.
8. Vishay Intertechnology, Inc.
9. Solvay S.A.
10. Shin-Etsu Chemical Co., Ltd.

In December 2022, The PCA line of chip-shaped conductive polymer aluminum solid electrolytic capacitors developed by Nichicon Corporation for use in high-reliability industrial equipment and automotive applications.

In February 2022, PolyJoule, Inc. has announced the manufacturing validation of their Conductive Polymer Battery Technology, following a production run of over 10,000 cells. The new batteries are designed to satisfy the demands of fixed power applications where longevity, levelized costs, environmental footprint, and safety are critical determinants of choice. They are constructed from different organic, non-metallic components and the unique conductive polymers of PolyJoule.