Rising Focus over Energy Efficient Technologies Driving Conductive Polymers Market

The global conductive polymers market reached a value of $4,441.7 million in 2017 and is expected to generate $7,341.2 million in 2023, advancing at an 8.7% CAGR during the forecast period (2018–2023). The market is growing due to the increasing preference for lightweight and high performing electronic products, growing solar power capacity, surging demand for conductive polymers in a variety of applications, rising focus over energy efficient technologies. Conductive polymers are polymers which conduct electricity.

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In terms of type, the conductive polymers market is divided into polyaniline, inherently conductive polymer (ICP), polyphenylene based resin, polycarbonates, and others (polypropylene, nylon, acrylonitrile, and polyvinylchloride). Among all these, the market was dominated by the polyaniline during the historical period (2013–2017), holding a revenue share of over 30.0% in 2017. This was due to its properties including good stability in aggressive media and at high temperature. The applications of this polymer include fuel cells, supercapacitors, batteries, and sensors. During the forecast period, the ICP division is projected to witness the fastest growth.

When application is taken into consideration, the conductivepolymers market is categorized into actuators, sensor, batteries, electrostatic discharge & electromagnetic interference (ESD & EMI) protection, antistatic packaging, capacitors, solar cells, and others (which include corrosion control, medical, and display devices). Out of these, the ESD & EMI protection category accounted for more than 25.0% share of the market in 2017, in terms of value. This is ascribed to the properties of conductive polymers of mitigating overvoltage, transient surges, and overcurrent in several consumer and industrial goods.

The conductive polymers market is growing due to the increasing preference for high performance and lightweight electronic products, which are utilized in manufacturing electronic items such as laptops, cell phones, and gadgets. Furthermore, there is a surging demand for wearable and flexible displays, electronics, and other flexible inorganic semiconductors. The income level of people in the developing countries is increasing and consumers are preferring for advanced and lighter electronic products, which is expected to result in increased demand for conductive polymers, as they are extensively used in the production of lightweight electronic products.  

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Another major factor driving the growth of the conductive polymers market is the rising focus on energy efficient technologies. Due to the rising standard of living, industrialization, and urbanization, the consumption of energy in countries, including India, Indonesia, and China, has increased significantly. This is resulting in the increasing adoption of energy efficient solutions, such as light emitting diode (LED) lighting solutions. The surging demand for LED bulbs is projected to drive the requirement foe conductive polymers as well, since they are utilized as emissive material and serve as the light source in LED bulbs.  

A key trend in the conductive polymers market is the growing adoption of conductive polymers in smart materials production. Smart materials are materials which exhibit properties such as mechanical, optical, electromagnetic, and chemical which can be altered for performing a particular function. These materials are increasingly being adopted for manufacturing artificial muscles along with other prosthetic medical devices that utilize the ability of CPs for changing shape and size of artificial limbs. Such materials are made up of conductive polymers and offer higher strength and flexibility than traditional materials utilized in the production of prosthetics.

Hence, the market is growing due to the rising preference for lightweight and high performing electronic products and increasing focus over energy efficient technologies.