Pune, India, June 2019, MRFR Press Release/- Market Research Future Published a Half-Cooked Research Report on the Global Organic Semiconductor Market.
Market Highlights
The Global Organic Semiconductor Market is expected to grow from USD 53.3 billion in 2018 to USD 179.4 Billion by 2024, at a compound annual growth rate (CAGR) of 22.4% during the forecast period.
Organic semiconductors are biodegradable materials which are lightweight, flexible, affordable, and posses easily adjustable electronic characteristics that can be set by chemical tuning. Organic semiconductors are used in organic light emitting diodes (OLED) displays, organic radio frequency identification devices (RFID), solar cells, printed batteries, among others. OLED displays are used in TVs, laptops, and tablets. Lighting and displays are two of the most important applications of organic semiconductors. Organic semiconductors are used in system components, organic photovoltaic (OPV) devices, OLED lighting, printed batteries, organic RFID tags, and display applications. These are also used to manufacture biodegradable electronics.
Key Players
The key players in the organic semiconductor market are BASF SE (Germany), Bayer AG (Germany), Koninklijke Philips N.V. (Netherlands), Merck & Co. (US), Novaled GmbH (Germany), Samsung (South Korea), Sony Corporation (Japan), LG (South Korea), Universal Display Corporation (US), Sumitomo Corporation (Japan).
Other prominent players studied for the organic semiconductor market are Dupont (US), AU Optronics (Taiwan), Sigma-Aldrich (US), and Toyota Riken (Japan), among others.
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Regional Analysis
The global market for organic semiconductor is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of organic semiconductor market is done for North America, Europe, Asia-Pacific, Middle East and Africa, Central and South America.
Asia-Pacific accounts for the largest market share in the organic semiconductor market as the countries such as Japan, Taiwan, China, and South Korea are investing a huge sum of money in the R&D activities for organic electronics. Japan has set up several research centers to conduct research on organic semiconductors. Also, the presence of major companies such as Samsung (South Korea), Sony Corporation (Japan), LG (South Korea), Sumitomo Corporation (Japan) is fueling the growth in this region. North America holds the second-largest share of the organic semiconductor market due to the presence of advanced infrastructure. Europe is also investing significantly in the growth of organic semiconductor in this region. Here, companies such as BASF SE (Germany), Bayer AG (Germany), Koninklijke Philips N.V. (Netherlands), Novaled GmbH (Germany) are contributing to the growth of the market. The organic semiconductor market in the Middle East and Africa and Central and South America is at a nascent stage but expected to show high growth during the forecast period. However, lack of technology readiness in various underdeveloped countries may hamper the growth of this market.