Global Conductive Polymers Market
As stated in our extensive report; the Global Conductive Polymers Market accounted for USD 3.8 Billion in the year 2022 and is forecast to reach USD 6.72 Billion by 2030 at a CAGR of 8.5%.
Increasing investment in electronic devices, aerospace, and automotive sectors has fueled the development of the light in weight-Conductive Polymers, which have significant use. The lightweight components are covered with lightweight Conductive Polymers that are used for heat dissipation which further fuels product adoption in varied industries. Also, with strict regulations on noise pollution control and the growing importance of low-noise electronic devices, buyers are expected to buy conductive plastics, including ABS and PPS, instead of traditional metals and ceramics. The growing importance of ionic polymers in the electronics industry due to their superior dimensional stability and good conductive properties is expected to remain a favorable factor for the growth of the Conductive Polymers market.
Conductive Polymers are environmentally friendly. In addition, conducting polymers have relatively high capacitance and high conductivity, a wide potential window, high porosity, and relatively low ESR compared to carbon-based electrode materials, making them promising candidates for supercapacitor electrode materials. Highly Conductive Polymers are used as the electrode material of supercapacitors: PANI, Ppy, and PTh. Conductive Polymers always store and release charge through redox processes. In case of oxidation, ions are transferred to the polymer. During reduction, ions are released back into the solution. Due to their excellent specific conductivity, conducting polymer electrodes have the highest potential energy, power density, and high specific capacitance. However, the lack of efficient n-doped conducting polymer materials has limited their use in pseudo capacitors. In addition, their cycle life is very poor due to the mechanical stress experienced during reduction-oxidation reactions, which limits their stability during charge-discharge cycles.
As the name suggests, organic polymers that conduct electricity are called conducting polymers. They are also known as intrinsically conducting polymers (ICPs) and have alternating single and double bonds along the polymer backbone (conjugated bonds) or consist of aromatic rings such as phenylene, naphthalene, anthracene, pyrrole, and thiophene connected by carbon-carbon single bonds. These materials are electroactive in nature and are used to provide properties such as good optical properties, excellent mechanical flexibility, and high thermal stability. The most used products are ABS, polycarbonates (PC), polyphenylene resin, nylon, polyethylene terephthalate (PPS), and polyvinylidene chloride (PVC).
Key Factors Influencing Conductive Polymers Market Growth
The growth of the global Conductive Polymers market can be attributable to the following:
- Favorable prospects for the electronics industry in China, Japan, South Korea, and Singapore and new product launches, including smartphones, by market players such as Samsung and LG are expected to play a crucial role in driving the demand for Conductive Polymers.
- The increasing importance of lightweight materials in the automotive industry, driven by a growing awareness of improving fuel economy, is expected to promote the use of ABS and PPS as conductive materials in wiring systems.
- Additionally, rising defense spending by governments in the Middle East and North America is expected to increase domestic production of military aircraft, which is expected to increase the use of these Conductive Polymers materials during the forecast period.
- Solar companies, including BP Solar, are increasing spending to develop organic solar energy because the technology can produce energy at low production costs compared to traditional solar production methods. This development is expected to lead to the promotion of the use of conducting polymers.
- Increased manufacturing of energy storage devices, including solar cells and battery systems, in major markets such as the United States and Canada is expected to have a positive impact. In addition, improvements in the US automotive industry due to Volkswagen’s new product launches are expected to increase the use of Conductive Polymers in the form of wiring and engine systems.
North America Region Forecast to Lead the Global Market in the Estimated Period
North America Conductive Polymers market will grow the fastest due to the growth of the automotive industry in China and India, new product launches by companies including Volkswagen, and the government’s willingness to encourage investment in the sector, the use of electrically conductive plastics is expected to increase. materials in motor boxes and wire harnesses. North America accounted for 45% of the global volume market in 2015. The high adoption of electroactive polymers in the electronics, solar, healthcare, and automotive industries, given the huge potential of the R&D infrastructure in the US and Canada, is expected to have a positive impact. impact on the market for conducting polymers.
The overall Conductive Polymers market sales have been favorably impacted by rising investment in electronic devices, aerospace, and automotive industries.
The well-known players of the Global Conductive Polymers Market include ABTECH Scientific (U.S.), AGFA-GEVAERT NV (AGFA) (Belgium), American Dyes Inc. (Quebec), Celanese Corporation (U.S.), Heraeus Holding GmbH (Germany), Kemet Corporation (U.S.) and others.