Conducting Polymers Market

Conducting Polymers Market

The global conducting polymers market was valued at USD 5.8 billion in 2022 and is projected to reach USD 9.6 billion by 2028, growing at a cagr 8.8% from 2023 to 2028. The market is mainly led by the significant usage of conducting polymers technology in various end-use industries. The growing demand from the electronics industry, rising demand for energy storage materials, and demand form medical industries are driving the market for conducting polymers.

Attractive Opportunities in the Conducting Polymers Market

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Conducting Polymers Market Dynamics

Driver: Advancements in miniaturizing of electronic components

Advancements in the miniaturization of electronic components have been a driving force in the development of conducting polymers. Conducting polymers offer unique advantages and play a significant role in enabling miniaturization in electronics. There are several advantages of miniaturization such as lower costs and higher speed. These developments need for more resourceful  materials that can efficiently dissipate thermal energy in even little area of component. These products/materials must have high thermal conductivity in order to transfer heat for cooling.

Restraint: Comparitively lower thermal conductivity than traditional materials

The relatively lower conductivity of thermally conducting polymers compared to traditional materials poses a constraint on their utilization in certain applications, particularly in industries such as power plants and machinery, where high conductivity is a critical factor in addition to design considerations. The need for efficient heat transfer and dissipation in these applications requires materials with superior thermal conductivity properties. While thermally conducting polymers offer advantages in terms of design flexibility and weight reduction, their lower conductivity limits their suitability for applications where conductivity is the primary determining factor.

Opportunity: Booming LED market in developing nations

The thriving LED market provides a substantial opportunity for conducting polymers. Conducting polymers possess distinctive properties that make them well-suited for integration into LEDs, contributing to the expansion and progress of this market. LED lights are recognized as a sustainable alternative to traditional lighting systems, offering significant energy savings. The use of thermally conductive polymers in LEDs aids in enhancing their thermal performance and extends their operational lifespan.

Challenge: Electroactive Stability of Conducting Polymers can be poor

One of the major challenges confronting conducting polymers is their limited electroactive stability. Over time, these polymers can degrade or lose their ability to conduct electricity when exposed to environmental elements. Factors such as moisture, oxygen, and chemical interactions can contribute to this degradation. To overcome the challenge of poor electroactive stability, ongoing research focuses on improving the durability and stability of conducting polymers.

Market Ecosystem

A market ecosystem refers to the interconnected network of individuals, businesses, and other organizations participating in a particular market. It includes various stakeholders such as producers, distributors, retailers, Customers, and regulatory bodies that interact with each other to exchange goods, services, and information. Prominent companies in the market are the ones who are well-established and financially stable and have state-of-the-art technologies and a strong global marketing network and sales record. Saudi Arabia Basic Industries Corporation( Saudi Arabia), Henkel AG & Co. KGaA (Germany) , 3M (US), Agfa- Gevaert NV (Belgium), Celanese Corporation (US), Covestro AG (Germany),Heraeus Holding GMBH (Germany), Avient Corporation (US), Solvay SA (Belgium), The Lubrizol Corporation (US) are the leading manufacturers and service provider of conducting polymers.

Conducting Polymers Market Ecosystem

Source: Secondary Research, Interviews with Experts, and MarketsandMarkets Analysis

"Electrically Conductive Polymers is the largest type of of conducting polymers in 2023, in terms of value"

Electrically Conductive polymers accounted for the largest market share in the global conducting polymer market, in terms of value, in 2023.  However, Thermally conductive is projected to grow at the highest CAGR in value during the forecast period. Electrically conducting polymers are in demand as a result of expanding markets in the building and construction, electrical & electronics, and automotive industries.

"ESD/EMI Shielding was the largest applicaton for conducting polymers market in 2023, in terms of value"

The ESD/EMI shielding, by application, accounted for the largest market share in the global conducting polymers market, in terms of value, in 2023. However, electrostatic coating is projected to grow at the highest CAGR in value during the forecast period. Electrostatic discharge is prevented by ESD/EMI shielding, and as the electronics industry continues to increase, so will demand for this applications.

"North America was the largest market for conducting polymers in 2023, in terms of value."

North America was the largest market for the global conducting polymers market, in terms of value, in 2023. US is the largest market in the North America. While , Mexico is projected to witness the highest growth during the forecast period considering the increase in demand for electronic application along with the increasing population and urbanization. The major players operating in the North America region include Celanese Corporation, 3M, Avient Corporation, among others.

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Key Market Players

The key players in this market   Saudi Arabia Basic Industries Corporation( Saudi Arabia), Henkel AG & Co. KGaA (Germany) , 3M (US), Agfa- Gevaert NV (Belgium), Celanese Corporation (US), Covestro AG (Germany),Heraeus Holding GMBH (Germany), Avient Corporation (US), Solvay SA (Belgium), The Lubrizol Corporation (US). Continuous developments in the market—including new product launches, mergers & acquisitions, agreements, and expansions—are expected to help the market grow. Leading manufacturers of conducting polymers have opted for new product launches to sustain their market position.

Conducting Polymers Market Report Scope

This report categorizes the global conducting polymers market based on type, application and region.

On the basis of type, the conducting polymers market has been segmented as follows:

• Electrically Conductive
• Thermally Conductive

On the basis of application, the conducting polymers market has been segmented as follows:

• ESD/EMI Shielding
• Antistatic Packaging
• Electrostatic Coating
• Capacitor
• Others.

On the basis of region, the conducting polymers market has been segmented as follows:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Central & South America

Recent Developments

• In 2022 Celanese Corporation acquired significant portion of DuPont’s Mobility and Materials business to expand its product portfolio.
• In  2023 Henkel AG&Co KgaA announced its partnership with Imakr to provide industrial customers in UK and Ireland with its companys Loctite 3D printing product portfolio.
• In January 2020, Heraeus Holding GMBH announced its partnership with Myant Inc to jointly develop a solution utilizing the company’s Tecticoat coating for electrical sensing applications in textiles.
• In September 2022, Saudi Arabia Basic Industries Corporation partnered with Conventus Polymers, it assigned it as a authorized distributor of its high performance engineering thermoplastics in North America.
• In March 2022, Slovay SA announced its partnership with Mitsubishi Chemicals Advanced Materials and collaborated on a sustainable initiative in regards to Solvays Udel high performance polysulfone thermoplastics.

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