Organic Semiconductor Market Set to Reach USD 843.62 Billion by 2032, Driven by Rising Demand for Flexible Electronics

Emergen Research has predicted that the global Organic Semiconductor market will reach USD 843.62 billion by 2032, growing at a compound annual growth rate of 21.8%. This growth is primarily driven by the rising demand for flexible electronics. The by-products of the fossil fuel industry, often burnt if no other use is found for them, are most frequently used to produce organic semiconductors. These by-products are chemically altered to create value-added products for various applications, including solar cells. However, the market's growth could be hampered by limited performance and stability. Organic semiconductors often perform better and are more unstable compared to inorganic semiconductors. Additionally, the complexity of manufacturing and competition from inorganic semiconductors could also restrain market growth. Organic semiconductors require more complex fabrication techniques than inorganic ones. Therefore, scalable and economical production procedures must be developed for organic semiconductor-based products to be widely used. The market is dominated by a few large and medium-sized players, including BASF SE, DuPont De Nemours, Inc., Koninklijke Philips N.V., LG Electronics, Merck KGaA, Novaled GmbH, Samsung, Sony Corporation, Sumitomo Corporation, and Universal Display. These companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, and developing, testing, and introducing more effective organic semiconductors. The North American market accounted for the largest revenue share in 2022, driven by increasing investments and Research and Development (R&D) activities in the region. For instance, the University of North Carolina in Chapel Hill is leading a team of four universities that have been given USD 7.5 million by the U.S. Department of Defense to develop organic semiconductors for the next generation of electronics.