The conductive polymers market is expected to witness substantial growth by 2027 driven by the increasing product demand across diverse industries, especially automotive and biomedical applications. Additionally, surging research focus on conductive polymers applications is also expected to boost market dynamics over the forecast period.
Technological advancements have been playing a key role in expanding the scope of application of conductive polymers, which has significantly boosted industry outlook. For instance, in April 2021, scientists from Sweden's Link??ping University developed a stable conductive polymer ink.
The high-conductivity n-type polymeric ink could potentially be leveraged for high-efficiency printed electronics. The Link??ping team collaborated with colleagues from South Korea and the US to develop the ink - dubbed ???BBL:PEI??? - which is stable in air as well as at high temperatures.
Moreover, researchers have also been studying the use of conductive polymers in making lithium-ion batteries safer, which has propelled product adoption in automotive applications. As a result, the improving product landscape is positively influencing market outlook across the globe.
Notably, recent instances of internal short circuits in lithium-ion batteries have raised concerns about the safety of electric cars. Prompted by these concerns, in June 2021, scientists from the National Renewable Energy Laboratory (NREL) set out to find a solution to stop thermal runaway - the process that causes short circuit in the battery.
The study, which also saw participation of researchers from NASA, The Faraday Institution in Oxford, University College London, the European Synchrotron in France, and National Physical Laboratory in London, was aimed at finding and validating an approach to prevent thermal runaway. In a method involving polymer current collector (PCC), the researchers discovered that a conductive polymer layer could successfully contain thermal runaway in Li-ion 18650 cells.
The conductive polymers market has been categorized on the basis of conduction mechanism (conducting polymer composites and inherently conductive polymers), application, and region. Based on conducting polymer composites, the conduction mechanism segment has further been segmented into polycarbonate (PC), acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyvinyl chloride (PVC), and nylon.
The acrylonitrile butadiene styrene (ABS) conducting polymer composites segment is estimated to reach a valuation of USD 1.45 billion by 2027, expanding at a significant pace through the assessment period. The demand for ABS is escalating owing to its beneficial characteristics, such as high impact strength, superior tensile strength, and corrosion resistance, which is expected to contribute to segmental adoption over the following years.
With respect to application, the market has been segregated into batteries, anti-static packaging & coating, actuators & sensors, capacitors, solar cells, printed circuit board, electroluminescence, and others. The capacitors application segment is speculated to observe considerable growth at around 7.8% CAGR through the forecast period. Proliferating consumer electronics sector across the globe is speculated to drive segmental growth over the projected timeline.
In the regional landscape, the Latin America conductive polymers market is expected to generate a considerable revenue of around USD 265 million by 2027. The growing manufacturing sector, along with the regulatory framework pertaining to lightweight vehicles, across the region is anticipated to foster market outlook in the future.