Organic Electronics Market size was over USD 129.1 billion in 2023 and is poised to reach USD 2422.6 billion by the end of 2036, growing at around 27.6% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of organic electronics is assessed at USD 161.7 billion.
Growing demand for organic semiconductors and organic light-emitting diodes (OLEDs) has boosted the need for the organic electronics market. Organic electronics are cost-effective, offer mechanical flexibility, and has the ability to chemically modify the electronic as compared to inorganic counterparts made from gallium arsenide and silicon. OLEDs are advanced and latest display technology used in televisions, mobile phones, laptops, and various other display-related electronics. For instance, in May 2024, at SID Display Week 2024, California, LG announced its next-gen OLED and advanced display technologies under the theme “A Better Future.” Owing to this, color expression accuracy is improved by 97% according to the DCI-P3 standard.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
27.6% |
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Base Year Market Size (2023) |
USD 129.1 billion |
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Forecast Year Market Size (2036) |
USD 2422.6 billion |
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Regional Scope |
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Material (Semiconductor, Conductive, Dielectric, Substrate)
Semiconductor segment is predicted to capture around 38.2% organic electronics market share by the end of 2036. Significant growth in the revenue share is anticipated as a result of various features offered by semiconductors such as no insulation oxide formation on its surface when exposed to the surroundings. Accredited to this, a clean interface is maintained on the surface while interacting with other materials. A non-metallic substance with semiconducting qualities forms an organic semiconductor, when compared to inorganic semiconductors, these materials have several benefits, such as being mechanically flexible, lightweight, and affordable.
This offers a chance to develop such devices using less expensive fabrication techniques. Additionally, governments all around the globe are highly investing in the R&D of semiconductors such as the CHIPS incentives grant program and more. The Semiconductor Industry Association published a report in June 2024, estimating that under the CHIPS incentives grant program, around USD 11 billion and USD 2 billion will be granted by the Department of Commerce and the Department of Defense respectively for the progress of CHIPS R&D Programs. Furthermore, the demand for organic electronics has increased due to growing awareness of sustainable development and the fact that these semiconductors are biodegradable, making them much more preferred over other materials. Growth in this sector will boost the semiconductor manufacturing equipment value in the near future.
Application (Display, 3D Printing, Lighting, Logic & Memory, Conductive Ink, Battery, Sensors & Actuators, Power Resources)
The display segment in the organic electronics market is poised to account for a lucrative size of USD 43.1 billion by the end of the forecast period. This tremendous gain is credited to the usage of advanced technologies in several applications of television, smartphones, laptops, and other electronics, healthcare, and military industries. A significant increase is predicted due to the surge for organic electronics in the coming years as advancements in display technology, such as organic LED (OLED) displays are observed. OLED displays have many benefits for users, including improved image quality with higher contrast, a wider viewing angle, more brightness, faster refresh rates, a wider color gamut, and less power consumption. Owing to this various technological companies are shifting over to OLED to cater to these requirements. A press release by Apple in May 2024 revealed that the iPad Pro will have a breakthrough Ultra Retina XDR display with advanced OLED technology.
Our in-depth analysis of the global market includes the following segments:
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Material |
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Vertical |
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Application |
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End use |
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Asia Pacific Market Statistics
The organic electronics market in Asia Pacific is set to hold the largest share of 46.9% during the forecast period. The surge in smartphones, wearable devices, and televisions due to the high demand for smartphones drives the growth of organic electronics in this region. A report by GSMA in 2023 estimated that in Asia Pacific more than 3 billion smartphone connections were expected with a smartphone adoption rate of 94%.
Increasing usage of advanced technologies such as ML (machine learning) and AI (artificial intelligence) in organic electronics would integrate several features such as remote sensing and automated start. This will fuel the sales of organic electronics in China. Harward Business Review in 2021 projected that based on several indicators China is the global frontier in the technological development of AI.
IoT-compatible organic devices in Japan are at a surge owing to the presence of prominent companies like Panasonic and Sony which integrate OLEDs into their devices such as TVs, wearable devices, and more. For instance, in August 2023, Sony announced the release of ECX344A, an HD, large with 4K resolution along with a 1,3-type OLED Microdisplay. This is preferably used in VRs and Ars head-mounted displays. This growth will augment the market share of virtual reality in the forecast period.
North America Market Analysis
North America will also encounter huge growth in the organic electronics market share during the forecast period with a notable size. This region will account for the second position in this landscape owing to the increasing IT & software, automotive, and consumer electronics industries and its demand in the rapidly increasing population growth. Researchers at Research Nester published a report in May 2024, estimating that about 50-60% of the whole year’s revenue in North America is attributed to IT services firms.
Increasing disposable income in the U.S. is projected to increase the demand for organic electronics market growth. According to a report by the Bureau of Economic Analysis in March 2024, in just one month from April to May, personal income increased by 0.5% valued at USD 114.1 billion.
Canada has shown a lucrative increase in sustainable development technologies, as they demand low-power consumption and the latest premium products such as organic batteries, monitors, TVs, smartphones, and more. In July 2023, the Government of Canada published a report estimating that in 2021, the environmental and clean technology (ECT) sector contributed 1.6% of employment and 2.9% of Canada's GDP.
Organic electronics market expansion is estimated to witness a lucrative share during the forecast period. The competitive environment is attributed to the advancements in the consumer electronic industry and increasing energy-efficient solutions. More companies are entering this sector owing to the potential growth opportunities. In the forecast period, the market will observe emerging competitors and a growing demand for organic electronics around the world.
Some of the key players include:
Author Credits: Abhishek Verma
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