PEDOT Market is Estimated To Witness High Growth Owing To Increasing Adoption of Transparent Conductors

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:

PEDOT or poly(3,4-ethylenedioxythiophene) is a conductive polymer. Due to its excellent film-forming ability and high electrical conductivity, PEDOT finds applications as transparent conductors in several electronic devices. It provides advantages such as flexibility, transparency and conductivity. PEDOT is used in applications such as organic solar cells, flexible displays, biosensors and organic light emitting diodes (OLED).

Market key trends:

One of the key trends boosting PEDOT market growth is increasing adoption of transparent conductors in electronic devices. Transparent conductors are essential components in display panels, touchscreens and photovoltaic cells. Traditionally, indium tin oxide (ITO) has dominated the transparent conductor market. However, ITO is brittle and inflexible. On the other hand, PEDOT provides flexibility as well as mechanical robustness along with good conductivity. Hence, major players are focusing on developing PEDOT-based transparent conductors to replace ITO. For instance, Heraeus Holding developed CleviosTM PEDOT surface modification technologies for transparent conductive coatings which find applications in mobile devices, automotive displays and touch panels. Rising penetration of consumer electronics and increasing integration of transparent conductors will propel market growth of PEDOT over the forecast period.

Porter's Analysis

Threat of new entrants: The threat of new entrants in the PEDOT market is moderate as it requires large capital investments and R&D for production.

Bargaining power of buyers: The bargaining power of buyers is moderate as PEDOT has application diversification and buyers can switch to substitutes.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of raw material substitutes and differentiated products.

Threat of new substitutes: Threat of new substitutes is high as alternatives like P3HT and polythiophene are being researched.

Competitive rivalry: High due to presence of key global players.

SWOT Analysis

Strengths: Growing application scope and rising demand for conductive polymers.

Weaknesses: High production costs and availability of substitutes.

Opportunities: Increasing investment in R&D and emerging applications in biosensors and tissue engineering.

Threats: Stringent regulations and environmental impact of production.

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 conductive polymers in applications such as biosensors, OLEDs and solar cells. Asia Pacific dominates the PEDOT market and is expected to grow at the fastest rate due to the expansion of end use industries in countries such as China and India.

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. The major players are focusing on partnerships, new product launches and capacity expansions to strengthen their foothold in the global market. For instance, in 2021 Nanoshel LLC launched new PEDOT grades to cater to increasing demand in touchscreens, AR/VR devices and smart packaging.

Read More: https://www.rapidwebwire.com/pedot-market-share-growth-and-regional-outlook/