The global organic electronics market is expected to be highly impacted by portable solar cells, colored light source and smartphone displays, application in curved HD TVs. Organic electronics represent a highly promising technology that is expected to provide increased functionality in order to overcome power consumption challenges over the forecast period. Potential applications of organic electronics span a broad range of fields including national security, environmental health, biomedical research and IT. Owing to simple processing methods and low material utilization, these devices are expected to become a low-cost alternative to the traditional inorganic electronic applications. Establishment of advanced systems relying on organic semiconductors may demonstrate remarkable technological maturity and competitiveness of these devices over the forecast period.
Devices made with organic materials have better interfacing capabilities with biological systems as compared to inorganic materials. Enhanced biocompatibility of organic materials has also led to biomedical applications such as neuron interfacing. Transparent organic transistors can simultaneously sense as well as simulate electrical activities of cultured mammalian neurons which could open unparalleled possibilities for neurophysiology. Rapidly growing consumer electronic goods industry, increasing application areas, favorable government initiatives and improved performance are some the factors expected to drive the organic electronics market. However, potential hurdle for the wider adoption of organic electronics such as lack of robustness and non-compatibility with conventional goods may hamper market growth.
The market segmentation on the basis of materials include substrate, dielectric, conductive and semiconductor. On the basis of applications, the market includes system component, organic photovoltaic (OPV), OLED lighting, printed batteries, organic RFID tags and display applications. OLED display finds applications in lightings, T.V. sets, tablets and laptops. Lighting systems and OLED-based displays are expected to remain the dominant segments. However, development of multilayered structures of white-emitting OLEDs and complex fabrication process could affect sub-segment growth through the forecast period. OPV market segment is expected to be driven by increasing adoption of OPV technique due to reduced cost of dye sensitized solar cells (DSSC). Asia Pacific is expected to dominate the market over the next six years.
Key vendors in the organic electronics market include Merck, Novaled, Heliatek, Polyic, Bayer MaterialScience, Fujifilm Dimatix Inc., H.C. Starck, AGC Seimi Chemical Co. Ltd., Sumitomo, Polyic, Evonik, BASF SE and AU Optronics Corporation.
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The ongoing COVID-19 outbreak has adversely affected the display industry with manufacturing operations temporarily suspended across major manufacturing hubs, leading to a substantial slowdown in the production. Major manufacturers including Samsung, LG Display, and Xiaomi among others have suspended their manufacturing operations in China, India, South Korea, and European countries. In addition to having an impact on the production, the ongoing pandemic has taken a toll on the consumer demand for display integrated devices, likely exacerbated by the lockdown imposed across major countries. Uncertainty regarding the possible length of lockdown makes it difficult to anticipate how and when a resurgence in the display industry will occur. On the flip side, increased demand for displays in medical equipment including ventilators and respirators is expected to keep the demand for displays afloat in the coming months. The report will account for Covid19 as a key market contributor.