According to conductive polymer market analysis by Research Dive, the global market size is expected to surpass $7,118.5 million by the end of 2027, at a 7.7% CAGR, growing from $4,842.8 million in the end of 2019.
Conductive Polymer Market, COVID-19 Effect:
In 2020, the COVID-19 lockdown has had a negative effect on the growth of conductive polymer market. During the pandemic, solar sector has experienced challenges owing to the coronavirus, such as shortage of workers because of social distancing and decline in expenditure by manufacturers. These factors have had a considerable effect on the global market because solar industry is one of the major consumers of conductive polymers. However, in recent times, Austria government has granted about $1.2 billion in the form of special grants to promote investments of approximately 50%, which includes renovation of schools, kindergartens and retirement homes. Also, this fund will boost innovations in public transport, renewable energy production and growth of broadband network during the crisis time. This aspect is expected to drive the growth of the market in the forecast time.
Conductive Polymer Market, Significant Market Players:
Agfa-Gevaert Group, American Dyes Inc., Sabic, Heraeus Holding GmbH, Rieke Metals, LLC, Celanese Corporation, Merck KGaA, ABTECH SCIENTIFIC INC., Solvay and KEMET Corporation are some of the leading conductive polymer market across the globe.
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Conductive Polymer Market, Dynamics:
The global conductive polymer market is significantly driven by increasing adoption of conductive polymers in renewable energy production. This is owing to rising demand for electricity production from renewable sources is driving need of conductive polymers. These polymers will play major role in production of solar panel due to high structural strength, dimensional stability and photovoltaic effect. Moreover, increasing trend for LED lighting and super capacitors manufacturing especially in developing economies due to government initiatives towards utilization of energy efficient materials is predicted to drive the market growth in the coming years. This estimated growth is accredited to conductive polymers are a new range of electronic materials and these have excellent optic and electronic properties than other non-conductive polymers. Nonetheless, users are shifting towards other alternative products owing to high price and relatively low thermal conductivity of conductive polymers, which is estimated to hinder the growth of the market in the prediction period.
Conductive Polymer Market, Segmentation Overview:
Polyaniline (PANI) type sub-segment was the significant revenue contributor of the global conductive polymer market in 2019 and is expected to account for $1,431.6 million revenue by 2027. This growth is majorly because wide usage of PANI type conductive polymers in the consumer electronics manufacturing owing to excellent properties like electro activity, redox activity and optical & electric properties. The polypyrrole (ppy) sub-segment is estimated to account for $934.0 million till the end of 2027 and is rising at a highest CAGR of 8.6% during the forecast time.
Conductive polymer market for anti-static packaging and coatings application has registered $2,292.8 million in 2019 and is estimated to continue its growth in the review period. Extensive usage of conductive polymers for electromagnetic interference and electrostatic discharge shielding application to safeguard sensitive electronic components, which is predicted to drive use of conductive polymer for anti-static packaging and coating application. This aspect is anticipated to impel the market growth in the estimated time. The display screen sub-segment was the second highest contributor in 2019 and is projected to account for $1,282.5 million in 2027, at a CAGR of 7.8%.
North America has dominated the global conductive polymer market size, it was over $1,592.8 million in 2019 and is estimated to grow at a CAGR of 7.3% in the review period. This command over the global market is mainly owing to rising construction activities coupled with growing demand for electrostatic coatings & packing of electronics as well as sensors manufacturing in automotive industry. Asia-Pacific generated second highest market share in the previous years and is expected to grow at a faster rate of 8.4% CAGR during the forecast time. Increasing use of conductive polymers in automotive industry for the production of light weight vehicles and government investments on solar energy production are predicted to fuel the market growth in the coming decades.
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