Conductive Polymers Market size will exceed $5.15 billion by 2026

According to a new research report by Global Market Insights, Inc., the Conductive Polymers Market size will exceed USD 5.15 billion by 2026. The escalating U.S. solar power industry will lead to an increased demand for conductive polymers in the near future.
 

Growing need for sustainable energy will lead to an increased demand for conductive polymers

Rising environmental issues related to conventional power generation methods have escalated the consumption of sustainable energy. Many developed & developing countries are building huge solar plants to cater to the power demand. For instance, in 2019, around 2.6 gigawatts of solar PV capacity has been installed by the U.S. government to attain a total installed output of 71.3 GW, which is sufficient to power 13.5 million U.S. houses. In 2019, the U.S. government announced new PV projects, which will contribute 21.3 gigawatts to the current capacity.

 

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In the last five years, favorable government incentives, such as tax credits and Renewable Portfolio Standard (RPS) targets, have proliferated the solar power industry in the U.S. Escalating demand for solar-powered houses/equipment owing to decreasing equipment costs, rising public awareness of green energy, and grants to encourage investments in solar power will propel the conductive polymers market.
 

Conductive polymers find a wide range of applications in the automotive industry. Thermally conductive polymers are often used in the automotive industry for heat dissipation. Furthermore, actuators and sensors composed of electrically conductive polymers are widely accepted products in the market. Polymer capacitors have optimum vibration resistance and low weight, thus preferred by car manufacturers across categories. A rise in the demand & production of electric vehicles is further expected to expand the conductive polymers market landscape.
 

Browse key industry insights spread across 300 pages with 327 market data tables & 26 figures & charts from the report, “Conductive Polymers Market By Conduction Mechanism (Conducting Polymer Composites [Acrylonitrile Butadiene Styrene {ABS}, Polycarbonate {PC}, Polyvinyl Chloride {PVC}, Polypropylene {PP}, Nylon]), Inherently Conductive Polymers [Polyaniline {PANI}, Polypyrrole {PPy}, Polyphenylene Vinylenes {PPV}, Poly(3,4-ethylenedioxythiophene) Polystyrene Sulfonate {PEDOT}]), By Application (Anti-static Packaging & Coating, Capacitors, Actuators & Sensors, Batteries, Solar Cells, Electroluminescence, Printed Circuit Board), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/conductive-polymers-market
 

The lack of stability under certain environmental conditions might hamper the conductive polymers market growth during the forecast period. For instance, inherently conductive polymers lose their conductivity when the temperature is increased, and the presence of moisture will also lead to the deterioration of their mechanical properties. These limitations will restrict the applications of ICPs in extreme environmental conditions. Furthermore, high production cost of the product will act as a major setback for the industry.
 

The global covid-19 infection has negatively affected the conductive polymers industry as there is a huge decline in the economic output of every developed nation. Reduced consumption during the period has shrunken production capacities and research in every sector including electronics, automotive, aerospace, & general manufacturing.
 

Inherently conductive polymers to acquire a high growth rate in the product segment

The inherently conductive polymers segment will hold a revenue of over USD 1.29 billion in the overall market by 2026. The demand for inherently conductive polymers is primarily driven by a distinctive combination of processability, dimensional stability, conductivity, and optical & mechanical properties. A resurgence in the electrical & electronics industry along with the proliferation of sensitive electronic devices and need for shielding Electrostatic Discharge (ESD) will escalate the adoption of conductive polymers.
 

Polyaniline (PANI) holds a major portion in the inherently conductive polymers industry. It is highly preferred for antistatic coatings and corrosion inhibition. The product exhibits good ambient stability characteristics and is melt processable. PANI can provide a precisely controlled electrical conductivity over a wide range and improved phase compatibility. Additionally, composites provide easier means of processing, form conductive products, and provide low-cost solutions to produce transparent & colored thin films & coatings. These factors will subsequently increase demand for conductive polymers during the assessment period.
 

Actuators & sensors application will generate promising revenue growth

The actuators & sensors application segment held a market share of over 13.6% in the conductive polymers market in 2019 and will grow at a stable growth rate of 7.4%. Conductive polymers have several advantages over silicon including high energy storage capability and superior actuator technology. Compared to their inorganic counterparts, conductive polymers achieve high sensitivity & selectivity by the virtue of their chemical & structural diversity. Conductive polymer’s ability to attain high tensile strength allows actuators to be loaded at forces over 200 MPa. The introduction of smart electronics and ongoing improvements in the field of robotics will increase the conductive polymers market demand.
 

The matured electronics & semiconductor industry in North America will escalate the regional market growth

North America is anticipated to account for a 43.3% market share in the overall conductive polymers market by 2026. The strong presence of electronics & semiconductor industries backed by continuous technological advancements and innovation in the region, especially in the U.S., will drive growth. According to the U.S. Congressional Research Service, the region held approximately half of the global semiconductor sales and is anticipated to sustain its dominance during the assessment period.
 

Another major trend prompting conductive polymers in the region is consumer preference for renewable energy. The cost to install solar cells has dropped by more than 70% over the last decade, leading the industry to expand into new markets and deploy thousands of systems regionally. A solar cell is a promising application field for conductive polymers and growth in solar cell consumption will subsequently increase demand for electroactive polymers.
 

New product development and strategic collaborations will escalate market competitiveness

The competitive landscape of the conductive polymers industry is moderately consolidated with the majority of players contributing to more than 50% share in the overall market. Strategic initiatives such as product improvement, innovation & research, and expansion in production capacity are prime factors escalating growth. There is a significant backward integration in the market as players such as 3M company, Solvay, and Henkel are engaged in the manufacturing of raw materials and finished products. In January 2018, Henkel acquired JemPack Corporation for USD 86 million, allowing the company to increase its presence in North America.
 

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