Organic Electronics Market Trends

Growth Drivers

• Advancements in the consumer electronic industry: The preference for organic electronics has increased for the manufacturing of lighting solutions, infotainment systems, and dashboards. Additionally, due to the prominent performance, durability, and efficiency of organic electronics such as OLED in flexible displays of curved/semi-curable, and foldable smartphones are in high demand as compared to inorganic materials. For instance, in February 2024 Samsung published a report stating that the collective sales of foldable phones in 2024 will exceed 20 million units globally. Meanwhile, in the next 5 years, the annual sales will witness significant gain surpassing 100 million units. The electronics & smart devices share has increased, augmented by the rising wireless connectivity technology of organic electronics.

• Increasing energy-efficient solutions: The demand for energy-efficient technology is surging in several countries such as the U.S., and Canada. For instance, the Department of Energy published a report estimating that LEDs would be the most energy-efficient and fastest-developing lighting technology. In addition, it was projected that most lighting installations will be LED-powered by 2035, and the annual energy savings from LED lighting could surpass 569 TWh, which is the equivalent of more than 92 1,000 MW power plants. Therefore, organic electronics are being driven by energy efficiency in several industries, such as consumer electronics and automotive and architectural lighting, influencing the adoption and use of organic electronics.

Challenges

• Less demand than conventional alternatives: The market penetration of organic electronics is lower than that of its conventional alternatives such as inorganic semiconductors and conductors. Primarily as a result of outdated technologies used in the process, variations in the cost of raw materials, and a lack of knowledge about the product. For the market to expand and generate greater profits over time, awareness levels must rise.

• Reduced efficiency after a specific period: Integrating organic electronics technology with the traditional semiconductor industry is a challenging task. For instance, after a certain amount of time, OLED TVs begin to lose their display's vibrant and bright color quality. Additionally, the production of organic electronics is less expensive than that of conventional technologies, but since the technology is new, it takes more experienced scientists, engineers, and developers to create organic electronics, raising the final cost to the user.