The market for conductive polymers is expected to witness a CAGR of over 8% during the forecast period. Major factors driving the market studied are increasing demand for lightweight components, and design flexibility and huge scope of innovation and product development through customization.
- Asia-Pacific is the fastest-growing market across the world, while North America is the largest market for the conductive polymers market.
Key Market Trends
Inherently Conductive Polymers (ICPS) to Drive the Market Growth
- Traditionally, carbon-based polymers have been considered to be electrical insulators. Such polymers may be given a degree of conductivity by the addition of quantities of a conductive additive, usually carbon, nickel, or silver.
- Inherently conductive polymers were accidentally discovered in 1970s, by a Japanese chemist, when excess catalyst was added to a batch of polyacetylene. When the resulting silvery film was doped, with various oxidizing agents, the material was found to have become conductive. This resulted in the development of several other conductive polymers.
- ICPs are electrically-conductive polymers, in which the conductivity arises from the presence of conjugated carbon-carbon bonds. These conjugated polymers possess interesting and useful properties, due to their delocalized electron systems.
- The outcome is a material that combines the electrical properties of a semiconductor or a metal, with the useful mechanical or other physical properties and processing advantages of a polymer.
- The use of ICPs is being investigated for practical applications in electronic and optoelectronic devices. Although stability and processing problems still have to be overcome for worldwide acceptance, the potential for these materials is immense.
- Thus, the demand for the inherently conductive polymers (ICPS) is expected to increase over the forecast period.
North America to Dominate the Market
- Conductive polymers are ideal for use in products where space and weight considerations are critical, such as automobiles, aircraft, and portable consumer electronics. Common applications for conductive polymers, which utilize their conductivity or electro-activity, include electrostatic material, conducting adhesives, electromagnetic shielding, artificial nerves, antistatic clothing, active electronics, and aircraft structures.
- In North America, the United States holds the largest market for automobiles and aircraft. The United States is one of the largest consumers of conductive polymers in the global market. A high rate of technology adoption in the country is expected to boost the consumption of conductive polymers in the coming years.
- The United States is one of the largest markets for consumer electronics in the world. Electronic gadgets witness a high adoption rate in the country. The United States is one of the technologically advanced nations in the world, and the people buy consumer electronics on a regular basis.
- Smart phones, tablets, portable speakers, and AI-assisted electronics are witnessing a high growth rate in the region. Other industrial segments and sectors are also expected to impact the growth of the market.
- With the R&D operations happening on a large scale in the region, the market is expected to evolve over the coming years. Thus, the US conductive polymers market is expected to grow at a strong rate.
The global conductive polymers market is partially consolidated with the major players accounting for a good share of the market. The major companies include 3M, Solvay, SABIC, PolyOne Corporation, and Lehmann&Voss&Co among others.
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