Conductive Polymer Market

Market Overview

The global conductive polymer market was valued at USD 5,841.01 million in 2022. It is estimated to reach USD 11,676.18 million by 2031, growing at a CAGR of 8% during the forecast period (2023–2031).

Electricity can flow through conductive polymers, a class of intrinsically conductive polymers (ICPs). The electrical and optical characteristics of conductive polymers are comparable to those of metals and inorganic semiconductors. It can be designed to be porous, biocompatible, and degradable. It is extensively used in photovoltaics, batteries, electrochromic displays, microelectronics, and diodes. Organic polymers that conduct electricity are known as conductive polymers or, more accurately, intrinsically conducting polymers (ICPs). These substances might be semiconductors or have metallic conductivity. The ability of conductive polymers to be processed, primarily by dispersion, is their greatest advantage.

Highlights

• Polyaniline (PANI) dominates the type segment
• Polymer capacitor dominates the application segment
• Asia-Pacific is the highest shareholder in the global market

Market Dynamics

Global Conductive Polymer Market Drivers

Increased Interest in Electronic Goods

In recent years, smartphone technology has advanced. Smartphones have replaced numerous other personal electronic and communication devices. Incorporating high-tech features like 3D facial recognition into smartphones at reasonable prices, larger touchscreen displays, and higher resolution cameras are anticipated to increase demand for these smart devices. Supercapacitors, capacitors, printed circuit boards, batteries, and various sensors, including gyroscopes, accelerometers, proximity sensors, magnetometers, touchscreen sensors, fingerprint sensors, and GPS, are all included in smartphones. In addition, the development of the conductive polymer industry is anticipated to be impacted by the surge in demand for smartphones brought on by the adoption of cutting-edge technologies like virtual reality (VR), augmented reality (AR), the Internet of Things (IoT), and artificial intelligence (AI). The market expansion is anticipated to be driven by the development of foldable phones and flexible screens over the forecast period.

Increasing Use of Conducting Polymers in the Production of Solar Cells

Researchers and manufacturers are looking for ways to improve the efficiency of solar cells due to the rise in solar energy usage. Solar cells are coated with conductive polymers to enhance their stability and effectiveness. An ultrathin layer with a few nanometers thickness is created using the oxidative chemical vapor deposition (oCVD) process using the flexible and highly effective organic conductive polymer known as PEDOT. Organic polymers are currently used in solar equipment, which is anticipated to positively affect market growth. In the electronics and semiconductor industries, polymers are frequently used as insulators. However, the development of conductive polymers has made it possible to create electronic components that are small, effective, and light. Future adoption of renewable energy is anticipated to accelerate due to a greater emphasis on environmental sustainability and falling energy generation costs, which is expected to fuel the growth of the conductive polymer market.

Global Conductive Polymer Market Restraints

High Production Costs

The high cost of production, including the cost of raw materials and manufacturing techniques, is the main factor impeding the growth of the market for conductive polymers. As a result, it is anticipated that producing conducting polymer will decrease. This factor is expected to have a negative impact on the market, but not significantly over the forecast period. However, many businesses are concentrating on creating new conductive polymer manufacturing technologies that may lower the cost of conductive polymers and are anticipated to increase production volumes in the near future.

Regional Analysis

Asia-Pacific Dominates the Global Market

Based on region, the global conductive polymer market is divided into North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is the most significant global conductive polymer market shareholder and is anticipated to grow at a CAGR of 8.30% during the forecast period. China, Japan, South Korea, India, Australia, and the rest of Asia-Pacific are all included in the study of the region. Due to their rapid growth in industries like electronics and automotive, China and India are among the most developing economies in the region. The conductive polymer is widely used in producing electric vehicle actuators, batteries, sensors, and circuit boards. As a result, the growth of these industries fuels the demand for conductive polymer, which in turn fuels the market's expansion throughout Asia-Pacific. In addition, the development of the automotive industry across China and India due to new product launches by businesses like Volkswagen and regulatory inclination to promote investments in the automotive sector is expected to encourage the use of conductive polymers in batteries, actuators, and sensors.

Additionally, it is anticipated that the rapid urbanization and industrialization in China and India will lead to an increase in energy demand, eventually increasing the demand for solar cells. Organic solar cells are frequently made using conductive polymers. As a result, the region-wide increase in demand for solar cells is anticipated to fuel the market for conductive polymers.

North America is anticipated to exhibit a CAGR of 7.5% over the forecast period. The US, Canada, and Mexico all study North America. The United States is one of the region's most economically powerful and technologically advanced nations. Due to its widespread use in producing electronic circuit boards for manufacturing smartphones, laptops, and televisions, the presence of significant IT and semiconductor manufacturing giants has increased the demand for conductive polymers. Due to the region's strong electronics and semiconductor industries, access to cutting-edge technology, and R&D facilities, North America is predicted to have the largest market for conductive polymers. The electronic industry is recovering in the United States. The U.S. Congressional Research Service estimates that in 2018, the U.S. sold about USD 209,000.0 million worth of semiconductors globally or about half of the total. As a result of this factor, the demand for the conductive polymer is expected to rise in the North American region.

Germany, France, Italy, Spain, the UK, and the rest of Europe all study Europe. Manufacturing of aerospace and defense products is centralized in Europe. Since the conductive polymer is widely used in sensors and capacitors to make electronic circuit boards for fighter jets and submarines, it is anticipated that the presence of defense equipment manufacturing behemoths like British Aerospace Engineering, Dassault, and Eurofighter GmbH in the area will increase demand for it. Since automotive batteries and actuators frequently employ conductive polymers, the need for these materials is anticipated to rise as the number of electric vehicles on the road in the European Union rises. This will help reduce pollution and dependence on fossil fuels.

In addition, conduit polymer is widely used in sensors and capacitors, which are used to make electronic circuit boards for use in defense equipment. As a result of the increased need for and production of fighter jets and submarines on a global scale, it is also predicted that the development of the aerospace and defense industry will drive the demand for conductive polymer. Therefore, each of these factors is anticipated to contribute to the conductive polymer market's expansion across the European continent.

Brazil, Saudi Arabia, South Africa, and the rest of LAMEA are studied. The corrosion protection coating industry uses conductive polymers extensively. Huge oil and gas reserves can be found in Saudi Arabia and Brazil. In order to move the liquids between these locations, steel pipelines are needed. These pipelines need to be replaced as they corrode over time. Due to this factor, the LAMEA region's demand for the conductive polymer is anticipated to rise. In addition, the need for the conductive polymer will increase throughout LAMEA as mining and oil and gas exploration activities increase. Oil refineries frequently employ steel pipelines. Due to the liquid flowing through the pipes, corrosion is a serious concern. Since conductive polymer acts as a potent oxidant to steel, it is frequently used as a corrosion protection coating. This element will probably lead to an increase in conductive polymer demand throughout LAMEA.

Segmental Analysis

The global conductive polymer market is segmented by type and application.

Based on type, the global conductive polymer market is bifurcated into polyaniline (PANI), polypyrrole (PPY), polyphenylene vinylenes (PPV), PEDOT, and polyacetylene.

The polyaniline (PANI) segment is the highest contributor to the market and is expected to grow at a CAGR of 6.3% over the forecast period. Conducting polymer polyaniline is a member of the semi-flexible rod polymer family. It has magnetic, optical, and electronic characteristics and high conductivity, electroactivity, and redox activity. These characteristics allow it to be used in the production of printed circuit boards, antistatic coatings, and corrosion protection.

Based on the application, the global conductive polymer market is bifurcated into anti-static packaging and coating, photographic film, solar cell, display screen, polymer capacitors, and LED lights.

The polymer capacitor segment owns the highest market share and is expected to grow at a CAGR of 9.2% over the forecast period. An electrolytic capacitor (e-cap) with a solid electrolyte made of a conductive polymer is known as a polymer capacitor. Polymer tantalum electrolytic capacitors (polymer Ta-e-cap), polymer aluminum electrolytic capacitors (polymer Al-e-cap), hybrid polymer aluminum electrolytic capacitors (hybrid polymer Al-e-cap), and polymer niobium electrolytic capacitors are the four different types of polymer capacitors that are offered on the market.

Furthermore, both consumer electronics and automobiles frequently use it. Conductive polymers are often employed in the construction of polymer capacitors. The demand for polymer capacitors has significantly increased due to the widespread use of electric vehicles worldwide, the need to reduce carbon footprint, the use of internal combustion engines, and dependence on conventional fuels. Additionally, consumer electronics make use of it. Thus, the demand for polymer capacitors has grown significantly due to the increased usage and demand for electronics such as smartphones, laptops, and LED televisions worldwide.

Recent Developments

• December 2022- Scientists from Pusan National University introduced an energy-efficient method to improve the thermal conductivity of polymer composites.