From the period of 2022 to 2028, the Global Organic Semiconductor Market is expected to reach USD 317.9 Billion in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 21.80%.
Non-metallic compounds with semiconducting characteristics are known as organic semiconductors. Organic semiconductors provide a number of advantages over inorganic semiconductors, including light weight, low cost, and mechanical flexibility. Organic semiconductors can also be employed in low-cost fabrication methods to create devices. The Organic Semiconductor Market is being propelled forward by rising demand for advanced electronic products. Furthermore, the growing need for smart textiles is a major driver driving the Organic Semiconductor industry forward.
Photoconductors in photography as light-weight valves in liquid displays (LCDs), a surge in the demand for organic materials to form a wide range of semi-conductive electronic devices, such as light-emitting diodes, transistors, lasers, and star cells, and demand for organic semiconductors in some applications, such as logic circuits with organic electrical phenomenon cells (OPVCs) or organic field-effect transistors are all driving demand for organic semiconductors. When technical incompatibility slows the growth of the organic electronic market, the potency of organic physical science deteriorates. However, the Organic Semiconductor industry is expected to benefit from an increase in R&D activities for various applications and the growing popularity of OLED displays.
Key Highlights from the Report
- Polyethylene, Poly Aromatic Ring, and Copolymer are the three material types that make up the market. Over the projection period, the polyethylene sector is expected to dominate the Global Organic Semiconductor Market. Polyethylene semiconductors are doped with other metals to generate cohesive materials. The development of flexible electronics, as well as the huge need for elasticity, have the potential to propel the market forward.
- The market is divided into System Component, Organic Photovoltaic (OPV), OLED Lighting, Printed Batteries, Organic RFID Tags, Display Applications, and Others based on application. Display applications will lead the worldwide Organic Semiconductor Market over the forecast period. Display applications may give market opportunities due to the development of white light emitting OLEDs and unique fabrication technologies. Organic Semiconductor development is likely to be driven by premium displays and active-matrix OLED displays.
- Asia Pacific is the fastest regional segment in terms of growth. APAC is predicted to lead the worldwide market due to rising chip demand from consumer electronics. Advancements in flexible electronics and wearables, as well as an emphasis on health, could increase market demand. China, Taiwan, and South Korea may be able to take the lead in the region due to the use of organic materials and dislike to plastic among buyers. The market in this region might be profitable over the forecast period due to applications in curved HD TVs, smartphone displays, and other consumer electronic devices. A boom in environmentally friendly manufacturing methods and chip compatibility with biological applications could significantly increase market demand.
Rapid Increase in Organic Photovoltaic and Organic Display Demand
Organic semiconductors are used in a variety of applications, including system components, organic photovoltaics, OLED lighting, and OLED displays Organic photovoltaic cells and OLED displays are expected to grow rapidly over the forecast period. Organic semiconductors are widely used in industrial applications. The market is being driven by the mass production of low-cost thin-film solar cells and superconductors made from organic materials on a large scale. Organic light-emitting technologies have also advanced rapidly, resulting in a large number of commercial items equipped with OLED displays.
Increased demand as a result of the adoption of technologies that promote sustainable development
The development and adoption of environmentally friendly technologies has accelerated over the years. The use of clean energy such as organic batteries, as well as the use of biodegradable materials for technological developments such as OLEDs, increases market demand for organic electronics. As organic devices are easier to dispose of in the environment, governments all over the world are promoting them. Furthermore, organic electronics consumes little energy, allowing for energy-saving solutions.
Due to the high demand for consumer electronics and the presence of leading semiconductor manufacturers, North America has risen to second place in the Organic Semiconductor Market. Efforts to reduce the effects of carcinogens found in metals can be profitable for the market. Organic semiconductors are used in the healthcare industry to treat skin cancer. In addition to lighting and displays, the Organic Semiconductor Market is in high demand for smart fabrics. Smart textiles can detect and respond to a wide range of environmental factors, including thermal and mechanical factors, as well as exchange data with other devices. These textiles have applications in military and security, as well as healthcare and entertainment. However, a lack of chips due to supply chain issues may limit regional growth.