Electronic Polymer Market Segmentation By Polymer Type (Electroactive Polymers, Magnetic Polymers and Other Polymers); By Application (Electrical & Electronics, Healthcare Devices, Packaging & Labeling, Automotive and Others) - Global Demand Analysis & Opportunity Outlook 2027
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Electronic polymers are organic polymers that conduct electricity. These polymers have metallic conductivity or can be semiconductors. The major benefit of these polymers is their processability, mainly by dispersion. Electronic polymers are generally not thermoplastics, i.e., they are not thermoformable but alike insulating polymers, they are organic materials. These include advantage of offering high electrical conductivity. The electrical properties can be finely modified using the methods of organic synthesis and by advanced dispersion techniques.
The properties of electronic polymers are such that they possess electronic and optical attributes of metals coupled with those of inorganic semiconductors. Moreover, they also have the flexible mechanics of polymers. Additionally, electronic polymers are essentially significant category of polymers owing to the inclusion of doped polymers and intrinsic semiconducting conjugated polymers in electro-chemical devices.
The global electronic polymer market has observed significant growth on account of increasing application in electronics sector. Advances in electronics industry in the past few years and growing technological explorations are projected to drive electronic polymer market along with growing population and rise in per capita income.
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According to Pew Research Center, the share of people in the U.S using E-reader, Tablet and Desktop/Laptop are 73%, 53% and 22% respectively as of January 2019. As per the statistics, it is anticipated to significantly lead to increase consumption of electronic polymers.
Electronic polymer market is anticipated to record a significant CAGR over the forecast period. The electronic polymer market is expected to showcase a moderate growth over the forecast period on the back of growing consumer demand for electrical and electronics market.
Rising Demand for Electronic Devices
Rising demand for flexible and wearable electronics with better displays and other flexible semiconductors have propagated the demand for the electronic polymers. Growing demand for lightweight and high-performance materials which are used in the manufacturing of electronic items such as cell phones, laptops and other gadgets have also led to surge in demand of electronic polymers. Moreover, growing e-commerce has established the availability of electronic goods to urban and many rural areas across the globe which is anticipated to project the growth of the market at a high pace during the forecast period.
Rising Disposable Income
Growing consumer needs for electrical and electronics items are fueled by the rising disposable income of the people across the globe. The rising income levels in developing countries and changing consumer preferences for lighter and advanced electronic devices, packaging and other products are escalating the growth of the market for electronic polymers. The demand for these polymers is growing owing to their usage in the production of lightweight electronic devices mainly preferred by consumers in these days are driving the electronic polymers market. Moreover, increased awareness about healthcare has made positive impact on the market on account of customers’ willingness to spend, enabling healthcare providers to make use of the latest technologies and thereby driving the electronic polymers market.
High Integration Cost
High manufacturing cost of electronic polymer is affecting the end-user product cost. Thus, the rising price of products in application segment is not affordable by different income groups of consumers which is anticipated to hinder the market growth during the forecast period.
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