Organic Semiconductor Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2031)

By Application :

Based on the application, the market is segregated into OLED, photovoltaic cells, sensors, transistors, and others. In 2022, the OLED segment accounted for the highest organic semiconductor market share. The semiconductor are commonly used in the production of OLED (organic light-emitting diodes). Moreover, an OLED consists of one or more organic semiconductor layers that are inserted between suitable contacts. These semiconductor are utilized as active elements in organic light-emitting diodes (OLED) that are used for creating digital displays in consumer electronic devices, automotive, and medical devices among others.

For instance, in June 2023, Samsung launched its new Odyssey OLED G9 gaming monitor integrated with next-level AI upscaling technology. The new OLED monitor is integrated with a vivid display, faster response time, and 240Hz refresh rate. Examination of market trends concludes that the increasing innovation associated with OLED displays is a prime factor fostering the organic semiconductor market growth.

Photovoltaic cells segment is expected to witness the fastest CAGR growth during the forecast period. Photovoltaic cells use the semiconductor to absorb light and convert it into electricity. Additionally, they are also used as the photoactive layer in organic solar cells that are further deployed in generation of solar energy.

For instance, in December 2022, researchers at Indian Institutes of Technology, Kanpur, developed organic solar cell devices comprising of a combination of PCBM as an acceptor and organic polymer PTB7 as a donor. The organic semiconductor market analysis concluded that the rising research and development activities associated with organic solar cells is anticipated to boost the market expansion during the forecast period.

By Material :

Based on the material, the market is bifurcated into polyethylene, poly aromatic ring, and copolymer. In 2022, the polyethylene material segment accounted for the highest organic semiconductor market share. The semiconductor based on polyethylene offer high electron mobility and can be manufactured using low cost methods. Moreover, polyethylene-based semiconductor offer several benefits including flexibility, large-area coverage, solution processability, and lower cost among others. Additionally, polyethylene-based semiconductor are deployed in various applications including sensors, OLED, and photovoltaic cells among others.

For instance, according to Solar Energy Industries Association, solar PV installations in Texas, United States reached 6,060 MW in 2021, representing a significant rise of 76.8% in comparison to 3,426 MW in 2020. Assessment of market trends suggests that the rising solar PV installations is among the prime factors driving the utilization of polyethylene-based semiconductor for application in photovoltaic cells such as solar cells, in proliferating the expansion of the market.

The poly aromatic ring segment is anticipated to register the fastest CAGR growth during the forecast period. Poly aromatic ring-type semiconductor are composed of molecules that have a closed-ring structure. Moreover, poly aromatic ring-type semiconductor offer high performance and low manufacturing costs. Additionally, poly aromatic ring-type semiconductor are used in OLED displays, solar cells, and other related applications.

For instance, in January 2023, LG introduced its third-generation OLED TV panel that is capable of delivering superior picture quality. The OLED display is capable of attaining 60% brighter images, 30% wider viewing angles, and improved energy efficiency as compared to conventional OLED displays. Analysis of organic semiconductor market trends concludes that the increasing innovations associated with OLED displays are driving the adoption of poly aromatic ring-type semiconductor, in turn fostering the proliferation of the market during the forecast period.

By End-User :

Based on the end-user, the market is segregated into consumer electronics, healthcare, automotive, energy, and others. The consumer electronics segment accounted for the largest revenue share of 37.91% in the year 2022. Factors including growing adoption of smartphones, computers, and other consumer devices, rising popularity of smart wearable devices, and increasing integration of energy efficient displays in consumer devices are driving the proliferation of the consumer electronics segment.

According to Atradius, the consumer electronics sector in Spain observed a rise of 3.5% in 2021 in contrast to 2020. Additionally, according to GSM Association, the adoption of smartphones in Italy is projected to reach 81% by 2025, witnessing an increase from 77% in 2021. The semiconductor are primarily used in the production of OLED displays integrated in smartphones, television, computers, gaming consoles, and other consumer devices. Assessment of market trends suggests that the growing consumer electronics sector is increasing the utilization of semiconductor, in turn driving the organic semiconductor market growth.

Energy segment is expected to witness fastest CAGR growth during the forecast period. The proliferation of energy segment is primarily driven by multiple factors including prevalence of green energy targets, rising demand for renewable sources for power generation, and government incentives and tax rebates for installation of solar panels among others.

For instance, according to the International Energy Agency, solar PV installations reached up to 18 GW in India in 2022, depicting a rise of nearly 40% as compared to 2021. The organic semiconductor market analysis concluded that the growing solar energy sector is driving the adoption of the semiconductor for application in photovoltaic cells, in turn contributing to market expansion during the forecast period.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia-Pacific is expected to grow with a CAGR of 22.7% and is estimated to reach over USD 277.83 Billion by 2031 from a value of USD 45.03 Billion in 2022 and is projected to grow by USD 54.15 Billion in 2023. In addition, in the region, the China accounted for the maximum revenue share of 32.8% in the same year.

The market growth in the Asia-Pacific region is driven by the development of industries including consumer electronics, automotive, and others. Moreover, the increasing integration of the semiconductor in OLED displays integrated in consumer devices are among the significant factors driving the market expansion in the region.

For instance, according to the India Brand Equity Foundation, the consumer electronics sector in India was valued at USD 9.84 billion in 2021, while it is estimated to grow at a significant rate to reach USD 21.18 billion by 2025. The above factors are driving the utilization of the semiconductor for application in OLED displays installed in consumer devices, in turn driving the market proliferation in Asia-Pacific region. Furthermore, the increasing investment in the field of electric vehicles is projected to drive the market expansion in Asia-Pacific during the forecast period.

Europe is expected to register a CAGR growth of 22.8% during the forecast period. The increasing pace of industrialization and development is promoting proliferation aspects for the market in the region. In addition, factors including the development of various industries including healthcare, solar energy, automotive, and others are driving the market proliferation in the European region.

For instance, according to the European Medical Technology Industry, the medical device sector in Germany accounted for 25.8% of the total share of the medical device sector in Europe in 2021, followed by France, UK, and Italy with 14.3%, 10.4%, and 9% respectively. The semiconductor is often used in portable medical devices integrated with OLED displays for depicting patient information including oxygen saturation, heart rate, blood pressure, and others. Thus, growing healthcare sector in Europe is expected to drive the utilization of the semiconductor, thereby proliferating market proliferation in the region during the forecast period.