According to the reports, with a compound annual rate (CAGR) of 22.4 percent during the projection period, the Organic Semiconductor Market is projected to expand from USD 53.3 billion in 2018 to USD 179.4 billion by 2024.
The global organic semiconductor market is growing rapidly. The market rise attributes to the increasing uses of organic semiconductors in organic photovoltaic (OPV), OLED lighting, printed batteries, organic RFID tags, and display applications. Besides, the rising production of electronic components, such as light-emitting diodes, solar cells, and transistors, increases the organic semiconductor market size.
With the rising demand for organic semiconductors and nanomaterials, the market is projected to witness significant traction in the future. In this regard Market Research Future (MRFR) states that the global organic semiconductor market is poised to garner exponential valuation by 2024, registering an impressive CAGR during the assessment period (2019–2024).
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Organic Semiconductor Market Players
Players leading the organic semiconductor market include Bayer AG (Germany), BASF SE (Germany), Koninklijke Philips N.V. (Netherlands), Novaled GmbH (Germany), Merck Co. (US), Samsung (South Korea), LG (South Korea), Sony Corporation (Japan), Universal Display Corporation (US), Dupont (US), Sumitomo Corporation (Japan), AU Optronics (Taiwan), Toyota Riken (Japan), and Sigma-Aldrich (US), among others.
Miniaturized Organic Semiconductors are Trending
Over the last couple of years, organic semiconductor technology has evolved dramatically. There have been major innovations such as printed sensors, including organic flexible sensors opening new avenues in the healthcare, automotive, supply chain logistics, and other sectors. Increasing customer preference for rigid substrates such as glass, ITO-glass, silicon, and flexible substrates substantiate the market's growth.
Lack of Expertise and Budgets are Major Headwinds
The lack of expertise and RD budget constraints are significant factors projected to restrict the market growth, hampering the developments of existing systems. Nevertheless, technological advances expected in recent years would support market growth throughout the assessment period, bringing the required expertise and reducing the overall cost of organic semiconductors.
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Global Organic Semiconductor Market – Segmentation
The report is segmented into types, applications, and regions. The type segment is sub-segmented into polyethylene, polyaromatic ring, and copolymer. The application segment is sub-segmented into system components, organic photovoltaic (OPV), OLED lighting, printed batteries, organic RFID tags, and display applications. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Global Organic Semiconductor Market – Regional Analysis
The Asia Pacific region dominates the global organic semiconductor market. The largest market share attributes to rising technological advances and focuses on using renewable energy sources across the industry verticals. The availability of technologies is a key driving force behind the market growth in the region.
Additionally, the presence of many electronics manufacturing companies in the region fosters the growth of the market. China, Japan, and India are key organic semiconductor markets, driving the regional market growth substantially.
Global Organic Semiconductor Market – Competitive Analysis
Highly competitive, the organic semiconductor market appears fragmented, with several well-established players forming a competitive landscape. These players incorporate strategies such as mergers acquisitions, innovation, and expansion remain prevailing key trends for the leading industry players as these strategies support their growth and expansion plans.
They deliver reliable, leading-edge products and services. Market players also invest substantially to drive RD activities and expansion plans. These companies focus on product development following organic and inorganic growth approaches. The market competition is expected to intensify further due to new product launches and new entrants.
Industry/ Innovation/ Related News
Oct.08, 2020 --- HKU Engineering team announced the development of novel miniaturized organic semiconductors. This important breakthrough is essential for future flexible electronic devices. Field-Effect Transistors (FET) are the core building blocks of modern electronics such as integrated circuits, computer CPUs, and display backplanes. The new Organic Field-Effect Transistors (OFETs) use organic semiconductors as a channel for current flows. Also, these components have wider advantages compared to their inorganic counterparts like silicon.
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