The rising consumer preference of high-performance and lightweight electronic products is driving the demand for conductive polymers across the world. These polymers are extensively used in wearable and flexible electronics, cell phones, various flexible inorganic semiconductors, laptops, displays, and other gadgets. With the surging income of people in emerging economies, such as China, the use of conductive polymers in the manufacturing of lightweight electronic products will shoot up in the forthcoming years.
Besides, the ballooning requirement for conductive polymers in the fields of healthcare, chip packaging, medicine production, electromagnetic interference, display material manufacturing, plastic transistors, sensors, electrical appliances, ultra-capacitors, and electrostatic discharge is also expected to propel the progress of the conductive polymers market. Additionally, the burgeoning need for conductive polymers in the field of corrosion control coating, on account of their biodegradable characteristics and conductive ability, is also expected to fuel the surge in the industry’s value from $4,441.7 million in 2017 to $7,341.2 million by 2023.
Furthermore, the market will advance at a CAGR of 8.7% between 2018 and 2023, as per the estimates of the market research company, PS Intelligence. Inherently conductive polymers, polyphenylene based resins, polyaniline, and polycarbonates are the most widely used types of conductive polymers across the world. Out of these, the requirement for inherently conductive polymers is predicted to rise at the fastest pace in the upcoming years. This is credited to its several applications in electromagnetic interference (EMI)/radio frequency interference (RFI) shielding, antistatic coating, and RFID.
ESD and EMI protection, actuators, capacitors, antistatic packaging, batteries, sensor, solar cells, and batteries are the major application areas of conductive polymers. Out of these, the requirement for conductive polymers was found to be the highest in ESD and EMI protection applications in the past. This was primarily because of the high requirement for the polymers in electronic device protection, owing to their success in the domain of corrosion control coating, on account of their biodegradable characteristics and conductive ability.
Geographically, the demand for conductive polymers is predicted to rise sharply in Europe and North America in the coming years. This is credited to the mushrooming use of these polymers in sensors, batteries, and various electrical applications in the automobile industry. In addition, the rising urbanization rate is also pushing up the demand for conductive polymers in the region. Asia-Pacific and Rest of the World (RoW) are also witnessing a massive rise in the demand for conductive polymers, owing to their usage in applications, such as capacitors, actuators, sensors, display devices, and textiles.
In the APAC region, the sales of these batteries are predicted to soar massively in China in the upcoming years. This will be because of the existence of several conductive polymer producers, such as Saudi Basic Industries Corporation and The 3M Company, rising requirement for electrostatic coatings on window panes and door panels, especially in the residential construction sector, and booming electronics industry in the country. In the RoW region, the demand for these polymers is soaring in Brazil.
Hence, the demand for conductive polymers will surge sharply in the coming years, primarily because of their growing usage in various electronic appliances.