PEDOT MARKET ANALYSIS

Global PEDOT market was valued at US$ 4.09 Mn in 2022 and is expected to exhibit a CAGR of 8.42% over the forecast period (2023–2030), to reach US$ 7.81 Mn by 2030.

This polymer is manufactured using oxidation. PEDOT is both an electrically- and ionically-conductive polymer, owing to this property it has various applications in energy, healthcare, and electronics industry in the form of sensors, capacitors, smart windows, and antistatic packaging, among others. Furthermore, increasing use of PEDOT polymers is due to its chemical stability and good conductivity.

Global PEDOT Market: Drivers

Demand for lightweight materials

Increasing demand for lightweight materials is expected to drive growth of the global PEDOT market. In electronics industry, PEDOT is used in development of advanced technological products such as wearables, flexible electronics displays, and semiconductors. The technological products are manufactured using PEDOT polymers for its electrical, optical, and physical and mechanical properties.

Electronic devices require high conductivity and stability

Electronic devices require high conductivity and stability which leads to increase in demand for PEDOT (Poly(3,4-ethylenedioxythiophene)). The low bandgap of PEDOT that is formed by the effect of the electron donor ethylene dioxy group on the energies of the frontier group of the π systems, offers high level of conductivity. Moreover, PEDOT is also used in antistatic packaging and smart windows, owing to its stability that is achieved by electron-donating effect within oxygen bombs and the effective ring geometry.

Global PEDOT Market: Restraints

High production cost

High production cost increases the overall price of pedot polymers, and this is expected to restrain the market growth. Pedot manufacturing companies  have to bear huge costs, due to lower stability during the production process. This results in a capacitance drop after a particular number of charge-discharge cycles. Limited capacitance is hampering the adoption of pedot in industrial applications. Therefore, high cost of pedot is expected to hamper growth of the pedot market over the forecast period.

Global PEDOT Market: Market Segmentation

Among polymer type, the Clevois P segment accounted for the largest market share in 2022, owing to increasing applications in the manufacturing of antistatic packaging trays, antistatic coatings, and organic thin film transistor (OTFT) backplanes. Moreover, the Clevios S segment is used in the manufacturing of electrochromic displays.

Among application, the Flexible Displays/OTFT Backplanes segment accounted for a significant market share in the global PEDOT market in 2022, owing to increasing demand for Flexible Displays/OTFT Backplanes in the automotive industry. Rising demand for Flexible Displays/OTFT Backplanes is due to technological advancements in the automotive industry such as self-driving cars, and adoption of artificial intelligence for manufacturing of electric vehicles.

Figure 1. Global PEDOT Market Share (%), By Segment Type

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Global PEDOT Market: Regional Analysis

Asia Pacific accounted for a significant market share in the global PEDOT market in 2022, and is expected to witness significant growth over the forecast period, owing to increasing adoption of portable speakers, tablets, smart phones, along with AI-assisted electronics due to increasing disposable income. Increasing research and development activities in the region is expected to drive growth of the PEDOT market. Moreover, new product launches, government initiatives, and investments in the automotive sector is also expected to boost demand for conductive polymers such as PEDOT in Asia Pacific automotive industry.

Figure 2. Global PEDOT Market Share (%), By Region

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Global PEDOT Market: Recent Developments

In 2021, Heraeus, a Germany-based technology company, announced that it has developed a new process for producing high quality PEDOT films with improved conductivity and stability. The company’s new process involves usage of novel solvent and a proprietary polymerization methodthat allows better control over the film’s properties.

In 2021, Agfa, a Belgium-based multinational corporation, launched a new PEDOT-based conductive ink. The ink is designed for usage in printed electronics applications such as sensors and antennas. Agfa’s new ink is highly conductive, and has excellent adhesion to a variety of substrates.

Global PEDOT Market: Key Companies

Major players operating in the global PEDOT market include Heraeus Holding, Ossila Limited, Nanoshel LLC, Nagase ChemteX Corporation, Suzhou Yacoo Science Co., Ltd., Agfa-Gevaert N.V., and Qingdao Topwell Chemical Materials Co., Ltd.

*Definition: PEDOT (Poly(3,4-ethylenedioxythiophene)) is a conductive polymer. This polymer offers several advantages such as optical transparency in the conducting stage, low redox potential, and moderate band gap.