Organic electronics is a branch of electronics that deals with design, formulation and application of organic materials that possess electrical properties. The organic materials used are basically organic compounds that exhibit considerable electrical properties like conductivity. These materials are made up of tiny molecules or carbon-based polymers, hence also called polymer electronics or plastic electronics. Organic electronics offer the benefit of low-cost manufacturing as compared to conventional inorganic electronics. Organic electronics is environment-friendly and offers better resource utilization. The different types of materials used in the manufacture of organic electronics include polymers, nanotubes, graphenes, carbon-based molecular structures, and hybrid materials. A commonly known application of organic materials is organic light-emitting diode (OLED), which is widely used in smart phones. Organic solar cells, television displays, and transistors are the other applications of organic electronics. Out of all these segments, organic displays contribute the highest revenue for the organic electronics market. Advantages of organic electronics are - they can be processed in room temperature unlike silicon, which requires temperatures above 1000°C. It can be produced in bulk and at low cost unlike the currently used expensive electronics. Organic electronic materials are flexible, brighter and consumes less power. On the other hand, its disadvantages include- water can damage it, high cost on research &development activity, low electrical conductivity and less life as compared to metallic conductors.
As per Allied Market Research, the Organic Electronics Market is expected to garner US$79.6 bln by 2020, registering a CAGR of 29.5% during the forecast period 2014-2020. Organic electronics market is in its early growth stage. Organics electronics find application in varied industries namely display, ORFID, OLED lighting, photovoltaics and others. Key factors driving the market are the need for reduction of cost, weight and power consumption of electronic goods. It is estimated that by the end of 2015, 130 million TV sets, 400 million PCs, 300 million tablets and 800 million smartphones would be shipped globally. Therefore, demand for flexible TFT would be very high. Similarly, the demand for other flexible electronic goods required in healthcare, government and other sectors would soar, and this would drive the growth of flexible electronics market. Organic display is the largest revenue generating segment for the organic electronics market accounting to nearly 65% - 75% of the overall market revenue. OLED display finds application in laptops, tablets, T.V. sets, and lightings. Asia Pacific generates approximately 65% of the revenue for the global market due to the fact that APAC is home to almost 3/4th of the global electronics manufacturing industry which is the primary application area for organic electronics. The cut-throat competition among the LCD display manufacturers is the key reason for a boost in OLED displays market, just to gain product differentiation and competitive advantage in the market. Irrespective of its expensiveness, OLED displays have gained momentum and the advent of flexible OLEDs have proved to be a revolutionary approach by OLED manufacturers. However, non-compatibility with conventional electronic goods and lack of robustness are the major restraints for the growth of the market. Some of the top companies profiled in the report are Fujifilm Dimatix, Inc., Bayer Materialscience AG, H.C. STARCK, AGC Seimi Chemical Co., Ltd., Sumitomo, Polyic, Heliatek, Novaled, Merck Kgaa, Evonik, BASF Materialscience AG. The key players can look forward for good revenue, as numerous companies across industry verticals are keen to adopt flexible electronics technology. Since this is an emerging market, it is expected that the key players would engage in collaborations and partnership to share expertise, instead of being involved in competition.
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.
As per Grand View Research, application in curved HD TVs, portable solar cells, colored light source and smartphone displays is expected to favorably impact the organic electronics market. Organic electronics represent a highly promising technology that is expected to provide increased functionality in order to overcome power consumption challenges over the forecast period. Potential applications of organic electronics span a broad range of fields including national security, environmental health, biomedical research and IT. Owing to simple processing methods and low material utilization, these devices are expected to become a low-cost alternative to the traditional inorganic electronic applications. Establishment of advanced systems relying on organic semiconductors may demonstrate remarkable technological maturity and competitiveness of these devices over the forecast period. Devices made with organic materials have better interfacing capabilities with biological systems as compared to inorganic materials. Enhanced biocompatibility of organic materials has also led to biomedical applications such as neuron interfacing. Transparent organic transistors can simultaneously sense as well as simulate electrical activities of cultured mammalian neurons which could open unparalleled possibilities for neurophysiology. Rapidly growing consumer electronic goods industry, increasing application areas, favorable government initiatives and improved performance are some the factors expected to drive the organic electronics market. However, potential hurdle for the wider adoption of organic electronics such as lack of robustness and non-compatibility with conventional goods may hamper market growth. The market segmentation on the basis of materials include substrate, dielectric, conductive and semiconductor. On the basis of applications, the market includes system component, organic photovoltaic (OPV), OLED lighting, printed batteries, organic RFID tags and display applications. OLED display finds applications in lightings, T.V. sets, tablets and laptops. Lighting systems and OLED-based displays are expected to remain the dominant segments. However, development of multilayered structures of white-emitting OLEDs and complex fabrication process could affect sub-segment growth through the forecast period. OPV market segment is expected to be driven by increasing adoption of OPV technique due to reduced cost of dye sensitized solar cells (DSSC). Asia Pacific is expected to dominate the market over the next six years.
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