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.
