Organic Electronics Market

Organic Electronics Market Size:

The global organic electronics market size reached US$ 83.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 358.4 Billion by 2032, exhibiting a growth rate (CAGR) of 17.0% during ​2024-2032​. The market is experiencing steady growth driven by the escalating demand for flexible, lightweight, and low-cost electronic devices across various industries, the development of bendable displays, wearable sensors, efficient organic photovoltaic cells, and continuous technological advancements in organic materials and manufacturing techniques.

Organic Electronics Market Analysis:

• Market Growth and Size: The market is witnessing healthy growth, and its forecast shows a large increase in market size due to rising demands for highly sophisticated electronic materials. The expansion is supported by the market adapting towards innovative technologies, leading to an increased application in sectors like consumer electronics, automotive, and healthcare.
• Major Market Drivers: Central to the market's gains are the increasing applications of OLED displays, with their adoption across a myriad of consumer devices for better image quality and energy efficiency. The demand for more flexible and lighter electronic devices is driving the market, thus enabling a shift toward more flexible and convenient technology solutions.
• Key Market Trends: The rapid incorporation of organic components into automotive and healthcare applications indicates an expanded target market. These trends are bolstered by the emergence of organic electronic innovations that offer more sustainable and energy-efficient alternatives, aligning with the global trend towards environmentally friendly technology.
• Geographical Trends: Asia-Pacific is standing out as the leading region in the organic electronics market, given its large manufacturing base and high consumer electronics consumption. North America and Europe are also witnessing considerable market activities, supported by their developed technological infrastructures and increased investments in research and development.
• Competitive Landscape: The market is highly competitive, with key players focusing on technological development, product innovation, and strategic partnerships to expand their market presence. Companies are investing more in research and development to pioneer novel applications in organic electronics, thereby enhancing their competitive advantage and market share.
• Challenges and Opportunities: The main challenge lies in the durability and operational life of organic electronic components, essential for maintaining performance standards in various applications. However, this sector also presents significant opportunities, especially in developing next-generation electronics that are eco-friendly, flexible, and capable of transforming industries such as healthcare, automotive, and consumer electronics.

Organic Electronics Market Drivers:

Increasing applications of OLED displays

The global market is primarily driven by the increasing applications of OLED (Organic Light Emitting Diode) displays. As a result of these improved characteristics in image quality, these are less flexible and consume less energy than the regular displays. These are widely used in many consumer electronics, including smartphones, televisions, and wearable devices. This growing trend is where OLED technology is playing an indispensable part in the next generation of electronic devices, thus lending major support to the market. Research estimates that in 2023, 3.4 million notebook PCs with OLED screens and 3.7 million tablet computers will be delivered for a total of 7.1 million units. These figures are expected to rise to 12.1 million OLED-displayed tablets and 5.1 million laptop PCs in 2024, for a total of 17.2 million.

Growing demand for flexible and lightweight electronic devices

One of the major factors driving the global market is the increased demand for electronic devices that are flexible and lightweight. This shift reflects evolving consumer preferences and technological advancements that prioritize portability, innovative design, and user comfort. Organic electronics, employing materials such as conductive polymers and small molecules, inherently offer flexibility and a lower weight profile compared to traditional inorganic materials, aligning perfectly with current electronic device trends. These materials are now widely used in applications such as flexible displays, lighting panels, thin-film batteries, and solar cells. The National Renewable Energy Laboratory reports that the power-conversion efficiencies of the ultra-flexible organic, perovskite, and quantum dot solar cells are 4.2, 12.85, and 10%, respectively, with power-per-weight output values of 10, 29.4, and 6.5 W g−1. This demonstrates that, in comparison to devices that do not prioritize flexibility, there is still a discernible efficiency difference.

Rising demand for automotive and healthcare industries

The rise in the global market is largely influenced by the escalating demand in the automotive and healthcare sectors. The healthcare industry is experiencing a transformation through organic electronic devices, especially with the advent of flexible wearable sensors that monitor vital signs and health markers in real time. In the automotive industry, these are essential for creating advanced, lightweight, and energy-efficient components such as OLED displays for infotainment and lighting, flexible sensors, and organic photovoltaic cells. These components are crucial for enhancing vehicle functionality and sustainability, thereby fostering innovation in car designs. It is projected that around 5 billion FHE circuits will be manufactured in 2030 based on an unbiased study conducted across more than 20 application sub-categories, from printed RFID tags to vehicle temperature sensors and from skin patches to industrial monitoring.

Organic Electronics Market Opportunities:

Widening application scope in the consumer electronics industry

The organic electronics market is undergoing significant expansion, with a rise in demand globally in recent years. This growth is attributed to the unique attributes of organic materials, which are flexible, lightweight, and cost-effective to manufacture, making them increasingly popular in various consumer electronics applications. These materials are now being integrated into an array of products, such as flexible displays, OLED TVs, e-paper, lighting solutions, and thin-film batteries, catering to the consumer's growing demand for portable, durable, and innovative electronic devices. The adaptability of organic electronics has enabled manufacturers to create previously unimaginable devices, such as foldable smartphones and wearable technology, thus pushing the market to new horizons. According to a recent Mizuho Securities analysis, OLED screens for feature phones and smartphones are expected to expand in 2019. According to Mizuho, OLED adoption will account for 29% of the display market by 2026 and increase to 80%.

Increasing applications of micro and mini-LED technologies

With growing applications, the global market has been affected in a notable proportion due to the increased application of micro and mini-LED technologies that are pivoting for next-generation display and lighting solutions. Leading technologies: it is known for its brightest output, superb energy efficiency, and color accuracy of life over traditional LEDs. Higher pixel density due to the small size of individual pixels results in sharply defined, finely detailed images, which are indispensable for high-resolution displays.  A research project predicts that if they are commercialized, these LED displays would be able to replace all screens. They can range in size from 0.5-inch microdisplays to 1000-inch stadium displays. The integration of such LEDs offers new design freedom in the domain of electronics and might open new avenues for ultra-thin, flexible, and transparent displays. This further extends their application to diverse sectors, with such versatility, and therefore drives the organic electronics market, complementing organic light-emitting devices to further push the conventions of display technology.

Key Technological Trends & Development:

Immersive Displays

The global market is greatly benefiting from the rise in immersive display technologies, which are transforming user experiences by providing an innovative depth of visual realism. These displays, crucial in virtual and augmented reality settings, are predominantly realized through organic electronics, thanks to their ability to produce vibrant displays, high contrast ratios, and flexible form factors. Organic materials, especially in OLED technology, are fundamental in creating screens that offer true blacks and a broad spectrum of colors, facilitating an experience that closely mirrors reality. The inherent flexibility of organic components also facilitates the design of curved or bendable displays, broadening the horizons for novel design and interactive interfaces. In research that was released in Applied Physics Express, researchers from Meijo University and King Abdullah University of Science and Technology (KAUST) have led a team in the successful development of these LEDs. They have achieved 330 pixels per inch of pixel density and have created intricate mesa designs.

Flexible and Foldable Display

The growth of the market is significantly influenced by the technological advancements in flexible and foldable displays, which are ushering in a new era for electronic devices. These displays utilize the inherent flexibility of organic materials, such as OLEDs, allowing manufacturers to craft innovative, bendable, and rollable screens that transcend traditional design constraints. Such flexibility heralds the introduction of unprecedented products, including foldable smartphones, wearable electronics, and roll-up displays, providing users with unparalleled versatility and convenience. In comparison to the same time in 2022, sales of foldable smartphones increased dramatically in Q4 2023, accounting for 4.2 million units, according to a recent analysis.

Quantum Dot OLED

Quantum Dot OLED (QD-OLED) is a new feature that adds up to a combination of both Quantum Dots and OLED technologies, thus enabling a greater marketplace for organic electronics. This is hybrid technology with quantum dots, which produce bright pure colors with plenty of energy efficiency, together with OLED, offering high contrast ratios and true blacks with a speed responding time. In general, QD-OLEDs should allow for better color volume, better color accuracy, higher peak brightness, and a wider color gamut when compared to regular displays, meaning an overall better-looking image. This improves performance standards for display from television, smartphone, and monitor while opening new scope for its application in high-end energy-efficient ultra-slim displays. In the third quarter of 2023, Samsung Electronics reported a 29.9% market share based on revenue in the worldwide TV market.

Organic Electronics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for ​2024-2032​. Our report has categorized the market based on materials, application, end-user, and component.

Breakup by Materials:

• Semiconductors
  • Small Molecule
  • Polymer
• Conductive
  • Organic
  • Inorganic
• Dielectrics
  • Polycarbonate
  • Poly Methyl Methacrylate
  • Polypropylene
  • Poly Vinyl Alcohol
  • Polyethylene Terephthalate
• Substrate
  • Glass Substrate
  • Plastic Substrate
  • Metal Foil
     

Semiconductor holds the largest share of the industry

A detailed breakup and analysis of the market based on the materials have also been provided in the report. This includes semiconductors (small molecule, and polymer), conductive (organic and inorganic), dielectrics (polycarbonate, poly methyl methacrylate, polypropylene, poly vinyl alcohol, and polyethylene terephthalate), and substrate (glass substrate, plastic substrate, and metal foil). According to the report, semiconductor accounted for the largest market share.

Organic semiconductor materials are very important contributors to and drive the worldwide organic electronics market, primarily by using their applications in the functionalities of various organic electronic devices, such as organic light-emitting diodes (OLEDs), organic photovoltaics (OPVs), and organic field-effect transistors (OFETs). These materials have been of growing interest because they show mechanical flexibility, low weight, and have the potential to be very good for the cost-effective production with solution-based processes. According to figures from the International Energy Agency, in 2022, solar PV output reached about 1 300 TWh, a record 270 TWh (up 26%). When compared to all other renewable technologies, it had the most absolute generation growth in 2022, exceeding wind power for the first time ever. The Net Zero Emissions by 2050 Scenario's level of growth from 2023 to 2030 is matched by this pace of generation growth.

Breakup by Application:

• Display
• Lighting
• Solar Cells
   

Display represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the application. This includes display, lighting, and solar cells. According to the report, display represented the largest segment.

Amongst the segmented applications, the display application is the largest in the global market and is mainly driven by increasing adoption of organic light-emitting diode (OLED) technology. Literally, OLED displays are better in color accuracy definition, contrast ratio, and energy-efficient advantages compared to traditional technologies used in displays. The firm offers a line of products for smartphones, television, and wearable devices, which contribute to growing consumer demand for high-quality and flexible screens that are energy-saving. According to the statistics, sales of smartphones worldwide reached 1594 million units in 2023. Sales in 2024 are expected to surpass, with a predicted total of 1625 million.

Breakup by End-User:

• Consumer Electronics
• Automotive
• Healthcare
• Others
   

A detailed breakup and analysis of the market based on the end-user have also been provided in the report. This includes consumer electronics, automotive, healthcare, and others.

Breakup by Component:

• Active
• Passive
   

The report has provided a detailed breakup and analysis of the market based on the component. This includes active and passive.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East
• Africa
   

North America leads the market, accounting for the largest organic electronics market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East; and Africa. According to the report, North America represents the largest regional market for organic electronics.

The growth rate of the North America region offers the highest to the global organic electronics market during the forecast period. Such a huge contribution is attributed to the advanced technology infrastructure, higher adoption of consumer electronics, and massive investments in research and development activities within the region. Several industry leaders and start-ups at the forefront of flexible displays, organic photovoltaics, and wearable electronics find a home in it, driving innovative solutions in organic electronics. This further supports the growth of the market, pinning great focus on sustainable and energy-efficient technologies, relating to increasing awareness of issues, and regulatory support. It is predicted that by 2025, over 87% of American mobile users would have a smartphone, up from 27% in 2010.

Analysis Covered Across Each Country:

• Historical, current, and future market performance
• Historical, current, and future performance of the market based on materials, application, end-user, and component
• Competitive landscape
• Government regulations
   

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape covering market structure, market share by key players, market player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant, among others. Detailed profiles of all major companies have also been provided. This includes business overview, product offerings, business strategies, SWOT analysis, financials, and major news and events. Some of the major market players in the organic electronics industry include:

• AGC Inc.
• BASF SE
• Covestro AG
• DuPont de Nemours Inc.
• FUJIFILM Corporation
• Heliatek GmbH
• Merck KGaA
• Novaled GmbH (Samsung SDI Co. Ltd.)
• PolyIC GmbH & Co. KG (LEONHARD KURZ Stiftung & Co. KG)
• Sony Corporation
   

Major players operating in the global organic electronics market are engaging in various strategic efforts with the idea of ensuring and strengthening their market position leading toward innovation. These companies also spend a lot of money on their research and development to come out with new breakthrough products featuring better efficiency, flexibility, and durability. Common strategies could include collaboration, partnership, merger & acquisition, whereby companies pool their expertise, enlarge their technological capability, and tap into new market through collaboration. These players are also focusing on scaling up their production and improving supply chain efficiency to boost the organic electronic devices' demand while retaining practices for sustainability for alignment with the globe's swing toward environmentally friendly technologies.

Analysis Covered for Each Player:

• Market Share
• Business Overview
• Products Offered
• Business Strategies
• SWOT Analysis
• Major News and Events
   

Organic Electronics Market News:

• February 20, 2024: FUJIFILM Corporation announced that the high-end compact digital camera known as the "FUJIFILM X100VI" (X100VI) will be available starting at the end of February 2024. The newest edition in the X100 line of high-end compact digital cameras, the X100VI has the newest CPU and a 40.2 MP back-illuminated sensor.
• November 02, 2023: DuPont de Nemours Inc. announced that a new smart wearable device idea for remote biosignal monitoring is being developed by DuPontTM LiveoTM Healthcare Solutions in partnership with STMicroelectronics (NYSE: STM), a worldwide leader in semiconductor technology serving clients across the gamut of electronics applications.
• Jan 7, 2020: Sony Corporation announced its first TVs for 2020, the 48-inch Master Series A9S being the smallest 4K OLED the brand has ever produced. The 85- or 75-inch Sony Z8H, a new 8K LCD TV, is at the top of the range. It is followed by the A8H OLED, which comes in 65- and 55-inch sizes.

Organic Electronics Market Report Scope:

Key Questions Answered in This Report:

• How has the global organic electronics market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global organic electronics market?
• What is the impact of each driver, restraint, and opportunity on the global organic electronics market?
• What are the key regional markets?
• Which countries represent the most attractive organic electronics market?
• What is the breakup of the market based on the materials?
• Which is the most attractive materials in the organic electronics market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the organic electronics market?
• What is the breakup of the market based on the end-user?
• Which is the most attractive end-user in the organic electronics market?
• What is the breakup of the market based on the component?
• Which is the most attractive component in the organic electronics market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global organic electronics market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the organic electronics market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global organic electronics market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the organic electronics industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.