The global conducting polymers market is estimated to be USD 4.39 Billion in 2017 and projected to reach USD 6.77 Billion by 2022, at a CAGR of 9.0% from 2017 to 2022.
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The growth of the global conducting polymers market is mainly driven by the increasing demand for advancements in miniaturization of electronic components. Compact electronic devices are comparatively faster than larger devices as the signals in compact devices do not have to travel as far as in the larger devices.
Lower costs, greater density, and higher speed are the additional benefits of miniaturization.
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The thermally conducting segment is projected to grow at the highest CAGR between 2017 and 2022
Based on type, the global conducting polymers market has been segmented into electrically conducting and thermally conducting.
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The thermally conducting segment is projected to grow at the highest CAGR during the forecast period. This expected high growth rate is because of the increasing need for heat dissipation in various applications such as LED, medical devices, cooling & heating systems, and consumer electronics housings.
The others application segment is projected to grow at the highest CAGR during the forecast period
Based on application, the others segment is projected to grow at the highest CAGR between 2017 and 2022. Others segment includes lightweight heat sinks, solar cells, OLEDs, sensors, medical devices, textiles & fabrics, actuators,.
An increasing demand for biosensors in medical applications; lightweight heat sinks in microchips; OLEDs in lighting application; batteries; and solar cells is fueling the growth of the conducting polymers market globally.
Asia Pacific to be the fastest-growing market for conducting polymers during the forecast period
The conducting polymers market in the Asia Pacific region is projected to grow at the highest CAGR between 2017 and 2022. This growth is mainly attributed to the rise of automotive, electronics, and infrastructure industries; huge R&D investments; and construction/renovation of residential & commercial buildings in Asia Pacific countries, such as India, Indonesia, Thailand, and China.
North America accounted for the largest share of the global conducting polymers market in 2016, and the dominance is expected to continue during the forecast period. This is due to the early product commercialization, intensive R&D, and rapid growth of the smart fabrics & smart electronics market in this region.
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SABIC, 3M, PolyOne, Heraeus, and Celanese, Arkema SA (France), Cabot Corporation (U.S.), Eastman Chemical Company (U.S.), Electriplast Corporation, (U.S.), Ensinger Inc. (U.S.), Ferro Corporation (U.S.), Kemet (U.S.), Lati Industria Termoplastici S.P.A. (Italy), N.V. Bekaert S.A. (Belgium), Premix OY (Finland), Royal DSM (Netherlands), RTP Co. (U.S.), Sigma-Aldrich Co. LLC. (U.S.), Simona AG (Germany), Techmer PM (U.S.) are some of the leading players in the global conducting polymers market.
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