Conductive polymer is an environmental friendly material and an organic polymer that has a comparatively wide potential window, high porosity, and high capacitance compared to other polymers being used in consumer electronics industry. Conductive polymers have relatively low equivalent series resistance than numerous other carbon based electrodes. And hence, it is considered as the most suitable material for manufacturing of super-capacitor electrodes.
In addition, conductive polymers are inexpensive, pliable, and lightweight plastics that conduct electricity and are known to bend, protrude, and shrink when stimulated by electricity.
Impact of COVID-19 on the Global Industry
The global emergency created due to the sudden outbreak of COVID-19 has negatively impacted the global conductive polymer market owing to the shutting down of several end use industry activities in the consumer, automotive, and other industries. Moreover, the disruption in manufacturing of automobile parts coupled with the stoppage of activities in assemble plants are expected to adversely affect the global market. Conversely, the leading manufacturers and companies of the market are applying several business tactics & strategies to sustain in the pandemic crisis.
For instance, in January 2020, a global leader in manufacturing component, KEMET introduced new series of polypropylene film capacitors namely, “R41T and R76H series AEC-Q200” especially for automotive industry. With these launch, the company expanded its product portfolio in the automobile applications.
Key Developments in the Global Market
The prominent industry players are implementing numerous growth strategies such as mergers, acquisitions, partnerships, technological advancements, and novel product launches to obtain a strong position in the overall market. This helping the conductive polymer market to grow at a rapid pace.
For instance, in February 2018, PolyOne entered into a partnership with Integral Technologies Inc. and also with Integral’s wholly-owned subsidiary ElectriPlast Corp. for commercializing its long fiber conductive material by ElectriPlast. It is a highly engineered, filled thermoplastic polymer that replaces metal in electromagnetic & radio-frequency shielding applications at about 60% lighter weight. The aim of the company behind this partnership is to expand their product portfolio in the conductive portfolio market.
In January 2019, the global chemical & specialty company, Celanese Corporation completed the acquisition of Next Polymers Ltd., which is the largest engineering thermoplastics (ETP) compounders based in India. The aim of the companies behind this acquisition is to expand their businesses and help Celanese to establish as a leader and offer customer base with extensive range of polymer products in the Indian market.
Forecast Analysis of Conductive Polymer Market
Global conductive polymer market is projected to experience a considerable growth throughout the period of forecast owing to the growing initiatives of government such as the ‘go green’ initiatives to use electric vehicles is expected to propel the growth of the global conductive polymer market . In addition, the increasing usage of conductive polymer in the production of electric vehicle components such as sensors, capacitors, batteries, and others, which is likely to provide lucrative growth opportunities for investors in the global market. However, the high cost of conductive materials and the availability of substitute materials are major factors predicted to impede the global market growth in the coming future.
A significant growth in consumer electronics sector and the growing demand from automotive industry are the significant factors expected to drive the growth of the global conductive polymer market in the forecast period. As per a Research Dive published report, the conductive polymer market is anticipated to grow at a CAGR of 7.7% from 2020 to 2027. The North America region is likely to hold the majority of share in the global market by the end of 2027 mainly because conductive polymers are extensively used in the production of electronic components such as mobile phones, laptops, and televisions in the region. The prominent players functioning in the conductive polymer industry include Heraeus Holding GmbH, American Dyes Inc., Sabic, Celanese Corporation, Merck KGaA, ABTECH SCIENTIFIC INC., KEMET Corporation, Agfa-Gevaert Group, Solvay, and Rieke Metals, LLC.