All Eyes Focus On "Organic Electronics" As Rising Popularity Impacts the Consumer Electronics Industry
• The organic electronics market is growing fast because it uses fewer resources, is easy to produce, is flexible, is highly efficient, and is environmentally friendly.
• OLED is the fastest growing segment of organic electronics as it is used in smartphones and televisions, both of which form a big market share for consumer electronics industry.
• Asia-Pacific is the fastest growing region for organic electronics because it is a large production base and a major market for consumer electronics.
Organic Electronics, a branch of materials science, is a key factor that drives the change in the consumer electronics industry. This is because organic electronic devices have high potential due to low resource consumption and simple production process. It also has many advantages over conventional electronic devices, such as reduced power consumption, reduced environmental impact, and the ability to work in harsh environments. Nowadays, there are many companies working on developing technologies for organic electronics, and the market is growing rapidly.
The organic electronics market is growing rapidly with a wide range of applications, whether it's optoelectronics, sensors, displays, or energy storage devices. The global market for organic electronics is expected to reach USD 67.8 billion by 2025, growing at a CAGR of 14.7% between 2017 and 2025, driven by factors such as the adoption of technologies that support sustainable development, and the growing demand for electronic devices that are flexible, lightweight, and cheaper than those made with conventional silicon-based inorganic materials. Organic electronics are also more energy efficient and more environmentally friendly in terms of production, usage and disposal, and OLED technology is being used in smartphones and televisions. Moreover, there is an increasing use of organic solar cells in various portable electronic devices as well.
The fastest growing segment of organic electronics is OLED due to the increasing adoption of OLED in smartphones and televisions. OLED has several advantages over LCD, such as wider viewing angles, lower power consumption, faster response time, and more vivid colors and brighter light. At the same time, the thinner and more flexible properties of organic materials enable OLEDs to be used in curved monitors, foldable or rollable mobile devices, and consumer wearables. In the near future, it is expected that organic electronics will find even more applications.
The Asia-Pacific region is expected to grow the fastest because the region has a large number of manufacturing companies, and is already a major market for consumer electronics. In addition, the region is experiencing rapid economic growth which is expected to boost the growth of organic electronics even further.
The major global player in this market is LG Display, one of the world's leading OLED manufacturers, who offers a wide range of OLEDs including flexible, transparent and large-size OLEDs. LG Display has a strong presence with more than 30% share in the global OLED market. The company also has a wide customer base in North America, Europe, and Asia Pacific.
At any rate, the high cost of production and the instability of organic materials are currently the main obstacles that hinder the growth of the organic electronics market. Therefore, if there is a solution that can overcome this drawback, organic electronics will become even more attractive. It will also empower the electronics industry at large to become more sustainable.
For those interested in the latest movements in the electronics industry, do not miss the future editions of NEP Blogs, and make sure to mark your calendar for "NEPCON Thailand 2023" – ASEAN’s #1 international exhibition on assembly, measurement & testing technologies for electronics manufacturing. The event will feature technologies from more than 420 international brands, so pre-register online today and see you during 21-24 June 2023 at BITEC, Bangkok.