Global Conducting Polymers Market - 2021-2028

Conducting Polymers Market Overview

Conductive polymers are a segment of the plastic materials group which offer significant characteristics such as pliable, lightweight and inexpensive plastics that conduct electricity. Additionally, they are known to protrude, shrink and bend when stimulated by electricity. The main benefit of these polymers is their electrical properties & processability that can be tailored simply utilizing the organic synthesis method along with superior dispersion techniques.

Conductive Polymers are broadly utilized in healthcare, automotive, electronics & electrical and others. Moreover, the ongoing research on the usage of these polymers in biomedical applications, such as regenerative medicine, wound healing, tissue engineering and others, will offer a lucrative opportunity for conductive polymers market expansion.

The global conducting polymers market is estimated to reach US$ XX million by 2028 from the recorded market size of worth US$ XX million in 2020, growing at a CAGR of XX% during the forecast period (2021-2028).

Conducting Polymers Market Dynamics

The increasing inclination of consumers towards reduced sound levels due to stringent regulation is triggering the demand for conducting polymers in recent times. Growing demand for AI and self-driving car services creates a strong opportunity for the conducting polymers market growth.

The increasing demand from electronic industry are estimated to drive the market growth

The increasing importance of electronics devices with decreased sound levels due to stringent regulations imposed to control noise pollution is expected to result in buyers procuring conductive plastics, including PPS & ABS, in place of ceramics & conventional metals. In addition, the growing importance of ionic polymers in the electronics industry on account of offering excellent dimensional stability and good conducting characteristics is expected to remain a favorable factor for the growth of the conductive polymers market.

Moreover, advancements in the automotive sector with the combination of technologies including artificial intelligence & self-driving cars will further rise at a decent rate due to increasing sales of electric vehicles, which will eventually drive the demand for actuators & sensors utilizing conductive polymers, a key material. Europe is one of the key markets for automotive sensors.

According to the European Automobile Manufacturers Association (EAMA), 18.54 million passenger cars were manufactured in Europe in 2019, contributing to around 24.89% of global production. The proliferating automobile demand, particularly in developing economies, will drive the conducting polymer-based sensors market growth during the forecast period. Conductive polymers are recognized to lose their properties under uncertain environmental conditions. The former factor restricts the application of ICPs in moist & hot conditions.

Furthermore, the rise in the application of the product in portable electronic devices and increase in demand for these devices globally are expected to boost the growth of the conducting polymers market. Moreover, owing to the surge in usage of solar power, researchers and manufacturers are seeking ways to increase the efficiency of solar cells.

Additionally, it has enabled the design of lightweight, efficient, and compact electronic components due to increased environmental sustainability. A decrease in energy generation costs is expected to accelerate the adoption of renewable energy in the future. They are expected to drive the growth of the market.

Growing demand for anti-static packaging is anticipated to boost the market growth

The growing demand for anti-static packaging is anticipated to boost the growth of the conductive polymer market during the forecast period. Anti-static packaging is utilized in various industries to package, store and transport items having ESD sensitivity to protect the equipment from damage. In addition, conductive polymer can be utilized in certain applications to replace metals & semi-metals, where a high amount of energy is needed in processing & fabrication.

High cost and stringent government regulation are expected to hamper the market growth

However, the high cost of production, including manufacturing processes and raw materials, is expected to hamper the market growth during the forecasted period. On the contrary, a surge in demand for electric vehicles across the globe due to stringent government environmental regulations to decrease air pollution and the dependency on conventional fuels are expected to offer growth opportunities for the conductive polymer market in the future. In addition, conductive polymers are broadly utilized in EV components such as batteries, capacitors and sensors, which drive their demand, thereby boosting the market's growth.

Conducting Polymers Market Segment Analysis

By type, the market is segmented into conducting polymer composites, inherently conductive polymers, inherently dissipative polymers, conductive plastics and others.

ABS was the most broadly utilized product accounting for 35.18% of the global volume in 2015 and is anticipated to continue on account of its excellent properties, including excellent durability & high impact strength at the broad range of temperature. ABS is utilized in various electronic applications, including IC tray & tray dividers, IC chip carriers and tote boxes. Moreover, ABS has superior surface properties, which combine high-temperature resistance, toughness and strength. It enables it to be utilized in aerospace & automotive applications. In the electronics industry, manufacturers require maintained, worn and scratch-resistant surfaces and easily decorated. All these circumstances are anticipated to drive the demand for ABS during the forecast period.

Furthermore, demand for PPP-based resins was 62.2-kilo tons in 2015 and is expected to foresee growth due to its growing use for manufacturing under-the-hood vehicle components with superior chemical resistance and good high temperature. They are growing expenditure towards developing organic PV by solar energy companies, including BP Solar, due to the technology's ability to generate energy at low manufacturing cost compared to conventional solar power-producing techniques. This development is anticipated to promote the usage of conductive polymers as an absorption medium of solar radiation. Solar energy is anticipated to witness volume growth at a CAGR of 9.87% from 2016 to 2024. Moreover, actuators & sensors accounted for 29.78% of the global volume in 2015. Increasing demand for electrochemical actuators for being highly compatible with sophisticated semiconductor devices is anticipated to grow the demand for these materials. The market is predicted to witness significant growth due to the growing penetration of conductive polymer materials in electrochemical actuators and numerous sensors.

Conducting Polymers Market Geographical Analysis

Based on the geography, the conducting polymers market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The demand for conducting polymers in the North American market is expected to remain at the dominant position in sales and value generation due to the growing volume of trade and e-commerce in countries such as the U.S.

North America region holds the largest market share global conducting polymers

North America will observe significant demand over the forecast period. The conductive polymers sector remains to behold dynamic changes due to the impact of foreign players, which will drive the business toward new product offerings. North America is the most extensive market for conductive polymer products during the forecast period, accounting for over 39.89% of the overall conductive polymers market share in 2020.

The powerful presence of electronics & semiconductor industries supported by the R&D & latest technologies in the region, particularly in the U.S., will drive this growth. According to SIA (Semiconductor Industry Association), in, the U.S. estimated for around 46.87% of the global semiconductor businesses, which accounted for around US$ 192.9 billion. As per the report, the country is predicted to sustain its dominance during the forecast period, making it a profitable market for electroactive polymers.

Europe is anticipated to be the second-largest market for conductive polymers in terms of geographical segmentation. End-user utilization of sensors & batteries in the automobile industry is predicted to boost the growth of the conductive polymers market in the region. Conductive polymers assist as one of the key factors in producing both these automotive electrical elements. The presence of chief market players such as Bayer, Ormecon Chemie GmbH, etc., is another key driving factor in Europe.

APAC is expected to witness extensive growth over the next few years due to the growing requirement for conductive polymers in applications such as capacitors, textiles, actuators, batteries, sensors and solar cells. Moreover, rising economies countries such as India & China are anticipated to further increase the market because of the expanding industrial center in the region. Latin America is predicted to observe steady growth in the conductive polymers market on-demand from end-user industries in the region.

Conducting Polymers Market Competitive Landscape

The conducting polymers market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. 3M, Lubrizol, Covestro AG, Celanese Corporation, SABIC, Henkel AG, BASF SE, Syngenta AG, Bayer CropScience AG, Novozymes A/S are the major player in the polymers market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to the global growth of the conducting polymers market.

3M

Overview: At 3M, the organization applies science in collaborative ways to improve lives daily. With US$ 33 billion in sales and approx. 93,000 employees connect with customers globally and are growing positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. Headquartered in St. Paul, Minnesota, the company has services in more than 60 countries and assists customers in nearly 200 countries.

Product Portfolio:

• 3M Boron Nitride Cooling Fillers are advanced ceramic materials that enhance thermal conductivity in polymers while developing electrical insulation. Their different properties make these additives proper for a broad range of electronic & electrical applications. Utilizing 3M Boron Nitride Cooling Fillers, thermal conductivity can be tailored to satisfy the thermal specifications in the consumer system - harmonized with production criteria such as flame retardancy, target electric insulation, compound/system cost specifications and mechanical properties.
• The company endured a global organization of product specialists, application engineers and materials scientists to work exactly with consumers to advance processes & formulations to support them to achieve optimal performance & thermal conductivity levels.

Key Development:

• In February 2021, 3M expects to invest approx. US$ 1 billion over the next 20 years to accelerate new environmental goals: achieve carbon neutrality by 2050, decrease water use by 25% at its facilities, and return higher-quality water to the environment after use in manufacturing operations.

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The global conducting polymers market report would provide an access to an approx. 69 market data table, 75 figures and 232 pages.

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