SEATTLE--(BUSINESS WIRE)--The global PEDOT (Poly(3,4-ethylenedioxythiophene)) market was valued at US$ 3,519,867.1 in 2018, and is expected to exhibit a CAGR of 8.4% over the forecast period (2019–2027).
Key Trends and Analysis of the PEDOT Market:
Electronic devices require high conductivity and stability, which in turn has resulted in increasing demand for PEDOT (Poly(3,4-ethylenedioxythiophene)). The low bandgap of PEDOT, which is formed by the effect of the electron donor ethylene dioxy group on the energies of the frontier group of the π systems, offers high level of conductivity. Moreover, PEDOT is also used in antistatic packaging and smart windows owing to its stability, which is achieved by electron-donating effect within oxygen bombs and the effective ring geometry. However, growth of the market is expected to be hampered due to high production cost of PEDOT.
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Increasing demand for lightweight materials is expected to drive growth of the PEDOT market. Within the electronics industry, PEDOT has extensive scope in development of advanced technological products such as wearables and flexible electronics displays and semiconductors. The technological products are manufactured using PEDOT polymers for its electrical, optical, and physicomechanical properties.
Key players in the market are focused on adopting strategies such as acquisitions, in order to enhance their product portfolio. For instance, in September 2017, Heraeus Medical Components, a global business unit of Heraeus Holding acquired Biotectix LLC, a manufacturer of conductive polymers. Biotectix LLC offers conductive polymer materials to Heraeus Holding’s medical components unit to enhance performance of sensing and stimulation electrodes used in diagnostic and therapeutic medical devices. This acquisition has helped Heraeus Holding to expand its medical component business unit in the global market.
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Key Market Takeaways:
- The global PEDOT market is expected to exhibit a CAGR of 8.4% during the forecast period (2019–2027)
- On the basis of application, Flexible Displays/OTFT Backplanes segment is expected to exhibit significant growth, owing to increase in demand for Flexible Displays/OTFT Backplanes in the automotive industry. Increased demand is a result of technological advancements in the automotive industry such as self-driving cars and use of artificial intelligence in the manufacture of electric vehicles.
- Among regions, North America is expected to account for a major market share over the forecast period. Growth of the PEDOT market in North America can be attributed to increasing manufacturing of complex electronic equipment, research and development activities, and miniaturization of electronic products. Moreover, Asia Pacific is expected to exhibit highest CAGR over the forecasted period, owing to increasing adoption of portable speakers, tablets, smart phones along with AI-assisted electronics due to increasing disposable income. Increasing research and development activities in the region are expected to drive growth of the PEDOT market. Furthermore, new product launches, government initiatives, and investments in the automotive sector are expected to drive demand for conductive polymers such as PEDOT in Asia Pacific automotive industry.
- Some of the major players operating in the global PEDOT market include Heraeus Holding, Ossila Limited, Nanoshel LLC, Nagase ChemteX Corporation, Suzhou Yacoo Science Co., Ltd., Agfa-Gevaert N.V., and Qingdao Topwell Chemical Materials Co., Ltd.
Global PEDOT Market, By Polymer Type:
- Clevios P
- Clevios S
- Clevios PH
Global PEDOT Market, By Application:
- Antistatic Packaging Trays
- Antistatic Coating
- Flexible Displays/OTFT Backplanes
- Electrochromic Displays
- Touch Panels
Global PEDOT Market, By Region :
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- Middle East
- North America
- Company Profiles