The global conducting polymer market is set to be valued at USD 7.0 billion in 2024. Global sales of conducting polymers will likely soar at a healthy compound annual growth rate (CAGR) of 9.4% during the forecast period, totaling USD 17.2 billion by 2034.
Multiple factors are expected to stimulate the growth of the conducting polymers market during the assessment period. These include:
- Rising usage of conducting polymers in thriving electronics and medical industries
- Increasing demand for advanced energy storage devices amid the transition toward renewable energy
- Growing need for lightweight materials
- Surging popularity of electric vehicles
- Escalating focus on energy efficiency and sustainability
- Rising government support for the development of advanced materials, including conducting polymers
A prominent factor expected to drive demand for conducting polymers is their widening applications in the electronics and medical sectors. These polymers are widely used in flexible and lightweight electronic devices, such as organic photovoltaic cells (OPVs) and organic light-emitting diodes (OLEDs).
The rising trend towards wearable electronic devices is expected to play a key role in fueling sales during the forecast period. Conducting polymers possess excellent properties, including lightweight, flexibility, and versatility, making them suitable for a wide range of electronics.
The incorporation of conducting polymers in biomedical applications is another key factor anticipated to create growth prospects for the market. These polymers are being explored for tissue engineering scaffolds, drug delivery systems, and biosensors owing to their biocompatibility and tunable properties.
The rapid transition towards renewable energy sources and electric cars is creating immense demand for advanced energy storage devices like batteries and supercapacitors. This, in turn, will facilitate market expansion as conducting polymers are increasingly used in these battery storage devices.
Key Takeaways from the Report
- The global market for conducting polymers is set to have a total valuation of US$ 17.2 billion in 2034.
- Based on type, the polycarbonate segment is expected to grow at 2% from 2024 to 2034.
- By application, the anti-static packaging segment will likely exhibit a CAGR of 0% through 2034.
- Sales of conducting polymers in the United States are estimated to be valued at US$ 3.1 billion in 2034.
- South Korea is anticipated to thrive at 3% CAGR through 2034.
- Japan will likely progress at a CAGR of 8% between 2024 and 2034.
- China’s market value is projected to total US$ 2.7 billion by 2034.
Competitive Landscape
Celanese Corporation, 3M Company, Covestro, Solvay, Premix Group, Polyone Corporation, SABIC, Eeonyx, Polyone Corporation, and Agfa Gevaert are leading conducting polymer manufacturers profiled in the report.
Key companies are heavily investing in research and development to introduce high-quality solutions with improved features. They are also using strategies like mergers, facility expansions, distribution agreements, acquisitions, partnerships, and collaborations to solidify their market positions.
Recent Developments:
- In January 2024, Covestro unveiled the new Apec 2045, a high-heat copolycarbonate designed for medical devices requiring molded-in seals.
- In 2021, Covestro exhibited its new innovative materials, including flame-retardant polycarbonate blends.
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Conducting Polymer Market by Category
By Type:
- Polycarbonates
- Acrylonitrile Butadiene Styrene (ABS)
- Nylon
- Polyphenylene-polymer (PPP) based Resins
- Inherently Conductive Polymers (ICP)
- Others
By Application:
- Anti-static Packaging
- Capacitors
- Actuators & Sensors
- Batteries
- Solar Energy
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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