The global organic electronics (OE) market would reach $79.6 billion by 2020, registering a CAGR of 29.5% during 2014 - 2020.
(PRWEB UK) 20 April 2015
According to a new report by Allied Market Research titled, "Global Organic Electronics Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020", the global organic electronics (OE) market would reach $79.6 billion by 2020, registering a CAGR of 29.5% during 2014 - 2020. Organic displays are the largest revenue source for the organic electronics market, accounting to nearly 2/3rd of the market. OLED displays, which find application in laptops, tablets and TV sets, hold lion's share in the global organic electronics displays market. Asia Pacific generates about 63.5% of the revenue for the global market due to the fact that Asia Pacific is home for almost 3/4th of the global electronics manufacturing industry, which is the primary application area for organic electronics.
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Growing appeal towards pollution-free and renewable energy sources has brought the evolution of photovoltaic technology, and the demand for the PV's is expected to witness marked growth during the forecast period. High initial investment is the only hurdle to the adoption of PV's in countries that are witnessing energy crisis. Technological advancements would eventually pave the way for a widespread acceptance of the technology. The positive momentum consequentially would spur the demand for organic components used in OPV, DSSC and CIGs. The cut-throat competition among the LCD display manufacturers for the last few years is the key reason for OLED displays to gain competitive advantage. Irrespective of its expensiveness, OLED displays have gained momentum and the advent of flexible OLED proved revolutionary for OLED manufacturers.
Organic RFID (ORFID) holds just about 2% of the global market due to its limited application in the prevailing market conditions. Contrary to the current market scenario, ORFID is anticipated to witness tremendous growth through 2020, and would outpace any other application area. Key factor for such remarkable growth is attributed to its ability to substitute silicon based RFID. ORFID would be a cost effective option for tags, as the materials and manufacturing costs would lower over the period of time.
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Key findings of the study:
- Global market for organic electronics gaining traction with displays, ORFID and Lighting to provide major growth thrust during the forecast period (2014 - 2020)
- ORFID segment will grow at a CAGR of 48.1% during the forecast period, fastest among all
- Europe would be one of the lucrative markets, both in terms of size and growth. Europe would reach $9.6 billion by 2020, with fastest CAGR of 35.9%
- Within organic displays, electroluminscent displays would be most lucrative at 48.7% CAGR during forecast period.
- OPV and DSSC, though, are the fastest growing photovoltaic segments, CIGs would remain segment of focus - at 94.6% market share in 2020 - within organic photovoltaic market
- System components will compose second largest segment for organic electronics in 2020, much exceeding photovoltaic segment. The system component would generate about 20% of the global OE market revenue in 2020
- Conductive inks would outrun other system component segments with about 86.5% revenue in 2020
The market growth is strengthened due to government incentives and other favorable policies that promote innovations in organic electronics. As this industry is in its early growth stage, the companies are strategically focusing on new and innovative product development. This specific focus is to achieve product differentiation and thus gain competitive advantage over the competitors. Continuous technological encroachments, specifically in the sector of organic electronics, have led the market to a completely new horizon. A strong and strategic business relation with the OEM manufacturers and the pure technology solution providers is an inevitable requisite to sustain in the competitive market. Key companies profiled in the report include Fujifilm Dimatix, Inc., Bayer Materialscience AG, H.C. STARCK, AGC Seimi Chemical Co., Ltd., Sumitomo, Polyic, Heliatek, Novaled, Merck Kgaa, Evonik, BASF Materialscience AG.
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