Market Research Future (MRFR) speculates that the global conductive polymers market is predicted to demonstrate a healthy CAGR during the forecast period (2020-2027) owing to the augmenting electrical & electronics sector. Conductive polymers are referred to as a class of polymers which conduct electricity. They are inexpensive and light in weight and tend to bend, shrink, or protrude when stimulated by electricity. Conductive polymers can offer metallic conductivity and can be used as semiconductors. Such polymers find its application in textiles, anti-static packaging, batteries, capacitors, solar cells, sensors, organic transistors, and actuators.
The global Conductive Polymers Market Analysis has been segmented on the basis of product type and application.
By mode of product type, the global conductive polymers market has been segmented into polycarbonates, acrylonitrile-butadiene-styrene (ABS), nylon, polyphenylene-polymer (PPP)-based resins, inherently conductive polymers (ICP), and others. Among these, the ABS segment is likely to occupy the largest share with 32% in 2020. The growth is credited to the properties provided by ABS such as durability, strength, and temperature resistance. ABS also find its application in electronic applications like IC chip carriers, IC tray & tray dividers, and tote boxes, which is likely to contribute to the growth of the segment.
By mode of application, the global market has been segmented into anti-static packaging, capacitors, actuators and sensors, batteries, solar energy, and others. Among these, the actuators and sensors segment is likely to expand at a significant rate owing to the increasing adoption rate of electroactive polymers in solar energy, electronics, and healthcare.
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Geographically, the conductive polymers market span across regions namely, Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific region is considered to occupy the largest market share during the estimated period. With the increasing GDP in this region, the growth in the automobile sector has increased in economies such as China, India, and Japan. This has further led to the application of conductive polymers in engine boxes and wire hose. Also, to minimize the dependency on crude oil imports, the government are encouraging the use of lightweight materials in the transportation industry, which will further boost the use of PPP and ABS-based resins. Moreover, the growth of the electronics industry in the Asia Pacific region, especially in nations like China and Japan has contributed to the growth of conductive polymers market in this region. Government schemes such as Make in India and Digital India Campaign are bolstering the demand for conductive polymers.
The North American region is predicted to exhibit a significant growth owing to the developed end-use industries and burgeoning adoption of conductive polymers in electronics, healthcare, and energy sectors. Also, the presence of major automobile manufacturers in this region are likely to trigger the demand for conductive polymers in this region.
Market Potential and Pitfalls
With the burgeoning electrical and electronics sector, the global conductive polymers market is likely to expand at an instantaneous pace. Conductive polymers are replacing metals and other conductive compounds in the electronics sector owing to its low weight. The damage made by these coatings are less and are less toxic in nature compared to other metals. Owing to such benefits, conductive polymers are extensively used in flat screen displays for computers, personal digital assistants, mobile phones, and other screens. Moreover, with the increasing disposable income along with modernization, the demand for electronics have risen at a tremendous rate which is anticipated to trigger the market growth for conductive polymer coatings market. The growing demand for lightweight, high-performance and inexpensive products is augmenting the market growth for conductive polymers. Benefits such as flexibility, dimensional stability, strength, and chemical resistance have further triggered its demand in the global market.
Moreover, the rising demand for conductive polymer coatings from the organic solar cells is likely to accelerate the market growth throughout the assessment period. As the organic semiconductors provide improved and better electromagnetic interference along with electrostatic discharge compared to other semiconductors, it is extensively used. The photovoltaic sector is predicted to attract the Conductive Polymers Market Demand Trends as they serve as an effective alternative to silicon. In the photovoltaic industry, conductive polymers are used in chip packaging, display materials, ultra-capacitors, and plastic transistors. Additionally, the augmenting consumer awareness associated with the shielding of electronic devices from radio frequency interference and electrostatic discharge is predicted to impact the market positively. Also, the accelerating smartphone market across the world and government initiatives to digitalize the economy if further encouraging the market to expand.
On the contrary, the high production cost of the conductive polymer is likely to dampen the market growth globally. Moreover, the fluctuating cost of the raw materials along with the cost of the manufacturing process are some of the top barriers considered to vitiate the market growth in the coming years. Despite such hiccups, with technological advancements, the overall production cost is predicted to decline with the increased production value.
February 23, 2019: The Swiss Federal Laboratories for Materials Testing and Research along with the Fraunhofer Institute ISC have launched a joint research project at the beginning of the year and named it IE4B. the project aims toward creating the basis for the production-ready solid-state batteries specifically for the electric cars. As per the partners, this technology towards solid-state batteries will provide an opportunity to bring the technology to Europe that was in the hands of the Asian companies.
The prominent players operating the global conductive polymers market are Covestro AG, Solvay SA, The Lubrizol Corporation, Celanese Corporation, Heraeus Holding GmbH, Saudi Arabia Basic Industries Corporation, Polyone Corporation, AGFA-Gevaert NV, Henkel AG & Co. KGaA, and 3M Company.
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