by The PEDOT Market is estimated to be valued at US$ 4.43 Bn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Poly(3,4-ethylene dioxythiophene) polystyrene sulfonate (PEDOT:PSS) is a polymer blend material that exhibits excellent conductivity and optical properties. It is used as a hole transport layer in organic light-emitting diodes (OLEDs) and organic photovoltaics (OPVs). PEDOT:PSS displays good transparency in the visible region, high work function, good environmental stability and film-forming properties. It can be processed from solution and has high conductivity after appropriate treatment or formulation.
Market Dynamics:
The primary drivers boosting the PEDOT market growth are growing demand for OLED displays and increasing adoption of e-textiles. OLED displays are increasingly being used in smartphones, tablets and TVs due to their thinner profile, richer colors and wider viewing angles compared to LCDs. The hole transport layer of an OLED comprises PEDOT:PSS which provides better charge injection into the emissive layer. The incorporation of advanced electronic functionality into fabrics is an emerging trend with the development of e-textiles. Conductive polymers such as PEDOT:PSS allow integration of electronics such as lights, sensors and heaters into wearable fabrics.
Segment Analysis
The global PEDOT market is segmented by type, application and geography. By type, the market is classified into electroluminescent materials, polymer precursors, semiconductor materials and others. The electroluminescent materials segment held the largest share of the PEDOT market in 2022 owing to increasing demand from display and lighting applications. By application, the market is divided into displays, batteries, transistors, solar cells, OLED lighting and others. The displays segment dominated the PEDOT market in 2022 due to rising adoption of touchpanels, smartphones and digital signage screens.
PEST Analysis
Political: Regulations supporting renewable energy and green technologies spur growth opportunities. Economic: Growing electronics industry and urbanization drive market expansion. Social: Rising living standards and disposable income boost demand for consumer electronics. Technological: Advancements in OLED, quantum dots and perovskites present new application avenues.
Key Takeaways
The global PEDOT Market Size is expected to witness high growth, exhibiting CAGR of 8.4% over the forecast period, due to increasing demand for energy efficient and flexible display technologies. The Asia Pacific region dominated the PEDOT market in 2022owing to presence of large consumer electronics market and major players in countries like China, South Korea and Japan. Key players operating in the PEDOT market are 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.
Regional analysis
The Asia Pacific region held the largest share of the global PEDOT market in 2022. Growing electronics sector and large consumer base in China, Japan, South Korea and other developing economies are driving the demand. China accounted for over 35% share of the APAC PEDOT market in 2022 and is expected to maintain lead owing to extensive manufacturing activities. Europe was the second largest regional market for PEDOT in 2022 led by Germany, UK and France.
Key players
Key players operating in the PEDOT market are 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. Heraeus Holding is one of the leading players developing innovative materials for displays and electronics. Nagase ChemteX Corporation offers wide range of PEDOT products for semiconductors, batteries and energy industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
