Organic Electronics Global Market Exhibit a Remarkable CAGR of 19.0% and is Expected to Reach $124.01 Billion By 2028 | Konica Minolta Inc., AUO Corporation, Osram GmbH, Novaled GmbH, OLEDWorks LLC, ISORG

The organic electronics market size has grown exponentially in recent years. It will grow from $51.09 billion in 2023 to $61.85 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth in the historic period can be attributed to energy efficiency, investment in research and development, low manufacturing costs, flexible and lightweight materials.

The organic electronics market size is expected to see rapid growth in the next few years. It will grow to $124.01 billion in 2028 at a compound annual growth rate (CAGR) of 19.0%. The growth in the forecast period can be attributed to advanced materials development, biocompatible electronics growth, internet of things (IOT) applications, foldable displays. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ML), digital health innovations, smart packaging, RFID and sensor technologies.

Market Overview -
Organic electronics is a branch of materials science that focuses on organic materials that have desirable electrical characteristics. Organic polymers or tiny molecules are used to build electronic components for a wide range of novel applications.

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Surging Demand For High-End Smartphones Boosts Growth In The Organic Electronics Market
The growing demand for high-end smartphones is expected to propel the growth of the organic electronics market going forward. Smartphones refer to advanced mobile devices that combine the features of a cell phone with those of a personal computer. Organic electronic devices are flexible and conformable, which makes them ideal for use in smart electronics such as foldable smartphones and wearable devices. These materials have a number of advantages over traditional inorganic electronics, including being flexible, lightweight, and energy efficient. For instance, in February 2023, according to Uswitch Limited, a UK-based financial conduct authority, beginning in 2022, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. The UK population is expected to grow to 68.3 million by 2025, of which 95% (or around 65 million individuals) will own a smartphone. Therefore, the growing demand for high-end smartphones is driving the growth of the organic electronics market.

Competitive Landscape -
Major players in the organic electronics market are BASF SE, Sony Group Corporation, Sumitomo Corporation, Panasonic Corporation, Heraeus Holding GmbH, Samsung Display, Toshiba Corporation, BOE Technology Group Co. Ltd., Henkel AG and Co. KGaA, Merck KGaA, Fujifilm Corporation, Evonik Industries AG, LG Display Co. Ltd., Covestro AG, AGC Inc., Konica Minolta Inc., AUO Corporation, Osram GmbH, PolyIC GmbH and Co. KG, Sigma-Aldrich Corporation, Universal Display Corporation, Kateeva Inc., H.C. Starck High Performance Metal Solutions, Heliatek GmbH, Novaled GmbH, OLEDWorks LLC, ISORG, FlexEnable.

Innovation In The Organic Electronics Market
Major companies operating in the organic electronics market are focusing on developing innovative technological products, such as flexible OLED, to increase the market reach. Flexible OLED (organic light-emitting diode) is a type of OLED that is based on a flexible substrate, usually made of polyimide. For instance, in May 2023, Merck KGaA, a Germany-based science and technology company, introduced new barrier materials that, in comparison to current options, offer flexible OLED (organic light-emitting diode) devices with more flexibility, dependability and longevity. These innovative materials are processed via low-temperature plasma-enhanced atomic layer deposition (PE-ALD) technology, which enables improved thin film encapsulation. This extends the OLED device's lifespan and satisfies even more stringent automotive criteria. Additionally, it enhances barrier performance, reduces costs and offers several advantages over existing solutions, which are expected to play a role in the growth of the organic electronics market.

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Key Segments -
The organic electronics market covered in this report is segmented -
1) By Material: Semiconductor; Conductive; Dielectric; Substrate
2) By Application: Display; Lighting; Battery; Conductive Ink; Other Applications
3) By End User: Consumer Electronics; Healthcare; Automotive; Energy; Aerospace And Defense; Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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