Global Conducting Polymers Market Size Revenue Projected to be Worths USD 14.59 Billion By 2032, at 9.1% CAGR: Polaris Market Research

NEW YORK, Dec. 11, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Conducting Polymers Market Share, Size, Trends, Industry Analysis Report, By Type (Electrically Conductive, Thermally Conductive); By Application; By Region; Segment Forecast, 2023- 2032" published by Polaris Market Research in its research repository.

The global conducting polymers market size and share is predicted to grow from USD 6.14 billion in 2022 to USD 14.59 billion in 2032. It is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 9.1% from 2023 to 2032, according to the latest report by Polaris Market Research.

What are Conducting Polymers? How Big is Conducting Polymers Market Size?

• A Quick Review

Conducting polymers, also referred to as intrinsically conducting polymers, are organic polymers that can transmit electrical charge. Having alternating single and double bonds along with the polymer backbone, conducting polymers combine the electrical charge conduction characteristics of polymers along with the advantage of polymers. One of the primary benefits of conducting polymers is their easy-to-process nature, mainly by dispersion.

Conducting polymers are classified into two main types. These are doped conducting polymers and non-doped conducting polymers. Conducting polymers have a wide range of applications, including ESD shielding, Antistatic packaging, capacitor and electrostatic coating. The growing number of research initiatives focused on finding new applications for conducting polymers and their capability to enhance performance in numerous applications fuels the conducting polymers market demand over the forecast period.

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What Companies Manufacture Conducting Polymers?

• 3M
• Agfa-Gevaert Group
• Arkema
• Avient Corporation
• Cabot Corporation
• Celanese Corporation
• Covestro
• DSM
• Eastman Chemical Company
• Ensinger
• Ferro Corporation
• Heraeus Holding
• Integral Technologies
• KEMET Corporation

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Important Highlights of the Report

• Conducting polymers have surged in popularity as a substitute for metals owing to their lightweight and less corrosive nature.
• An increase in research activities to widen the applications of conducting polymers plays a major role in driving market growth.
• The conducting polymers market segmentation is primarily based on type, application, and region.
• North America dominated the market for conducting polymers in 2022.

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Market's Prime Determinants of Growth, Trends, and Opportunities

Growth Drivers

• Development of effective energy storage technologies: The depleting fossil fuel levels and growing energy demand worldwide have led to an increase in the creation and use of fossil fuels. However, the current renewable energy generation demands the usage of efficient and adequate energy storage technologies such as supercapacitors. Conducting polymers find applications as electrode material in supercapacitors owing to their several advantages, including good conductivity and flexibility. This, in turn, drives the conducting polymers market growth.
• Wide range of applications: Polymeric materials have a wide range of applications across several sectors. They're used as ionic-conducting polymers in lithium-ion batteries. Owing to their ability to maintain a metal's receptivity, these polymers have gained traction as a vital component of corrosion-resistant coatings. Besides, their efficient wave uptake and enhanced electrochemical behavior make them suitable for several other applications.

Trends and Opportunities

• Demand for flexible electronics: Conducting polymers have a wide range of end uses in the electronics sector, including conductive inks and organic electronic devices. The miniaturization trend of electronic components and the rising need for flexible electronics have spurred the demand for advanced conducting polymers, impacting the conducting polymers market size favorably.

Segmental Analysis

• Electrically Conductive Segment is Anticipated to Witness the Highest Growth

The segment's growth in the market is primarily driven by increasing innovations in the development of more efficient electronic devices. A variety of electronic materials, including conducting polymers, are used in the conversion and storage of energy. These materials exhibit several ways of charge transfer. The growing prevalence of renewable energy is projected to spur the demand for power storage systems, thereby fueling the demand for conducting polymers market over the forecast period.

Owing to its lightweight and versatility, the thermally conductive segment accounted for a substantial revenue share. Thermal paste and other thermally conductive polymers find applications in batteries, phones, and laptops. Given the growing prevalence of electronic vehicles and the expansion of the electronic sector, the need for conductive polymers is anticipated to rise in the upcoming years.

• The ESD/EMI Segment Accounted for the Largest Market Share

Conductive plastics are used in various applications to avert early failure or damage caused by electrostatic discharge. Besides, conductive polymer-based composites, a class of composite materials developed as EMI shielding materials, have gained significant traction due to their distinctive characteristics. These characteristics, which include long life, durability, lightweight, and less corrosiveness, are contributing to the rising conducting polymers market sales.

The antistatic packaging segment is projected to grow at a significant rate. This can primarily be attributed to its application in the aerospace sector. The primary goal of antistatic agents in the aerospace industry is to facilitate the creation of an active pathway to disseminate the accumulated static charges in conducting polymers. These materials are now widely used in various aircraft components owing to their longevity and excellent mechanical properties. Besides, antiseptic packaging finds applications in safeguarding optical equipment like cameras from damage.

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Regional Insights

• Which Region Leads the Market for Conducting Polymers?

North America: The North America region accounted for the largest conducting polymers market share. This is primarily due to the growing emphasis on clean energy transition in the region. According to the National Renewable Energy Laboratory's (NREL) estimation, solar energy could account for over 45% electricity supply in the US by 2050 if full decarbonization of the energy system takes place. With the rapid transition towards renewable energy, there will be a huge demand for conducting polymers.

Asia Pacific: The Asia Pacific region is anticipated to witness the fastest growth rate. The booming automotive sector in APAC nations like China and India and the shift towards electric vehicles are the primary factors propelling the need for conducting polymers in the region. Besides, the usage of conducting polymers in power storage devices is anticipated to have a favorable impact on the region's growth.

Browse the Detail Report "Conducting Polymers Market Share, Size, Trends, Industry Analysis Report, By Type (Electrically Conductive, Thermally Conductive); By Application; By Region; Segment Forecast, 2023- 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/conducting-polymers-market           

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The Report Answers Questions Such As

• How big is the conducting polymers market size?
• At what CAGR is the market expected to grow?
• Which factors are driving the demand for conducting polymers?
• What are the market trends and opportunities?
• What segments are covered by the report?
• Who are the leading conducting polymers market players in the industry?

Polaris Market Research has segmented the conducting polymers market report based on type, application and region:

Conducting Polymers, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Electrically Conductive
• Thermally Conductive

Conducting Polymers, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• ESD/EMI Shielding
• Antistatic Packaging
• Electrostatic Coating
• Capacitor
• Others.

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SOURCE Polaris Market Research