by Poly(3,4-ethylenedioxythiophene) (PEDOT) is an organic polymer that exhibits high electrical conductivity and is thermally stable. It is primarily used as a conducting polymer in film form which is applied to surfaces that require electro-conductivity such as touchscreens, flexible displays, and organic solar cells. PEDOT films have high transparency, flexibility and are lightweight making them suitable for such flexible electronic applications. The transparent and conductive nature of PEDOT enhances the performance and efficiency of electronic devices. It is the replacement of indium tin oxide (ITO) and finds increasing use as a transparent electrode in flexible electronic displays and solar cells. With the rising demand for flexible and wearable electronics, the adoption of PEDOT films as a substitute for ITO is growing.
The global PEDOT Market is estimated to be valued at US$ 4.43 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend in the PEDOT market is the increasing demand for organic and transparent electrodes in displays and solar panels. PEDOT:PSS, which is the most common formulation of PEDOT, has high transparency, excellent film forming properties and high conductivity making it a suitable replacement for ITO. With advancements in display technologies, there is a growing need for lightweight, flexible and transparent electrodes. PEDOT has emerged as the leading alternative to ITO due to its superior properties. Another major trend is the development of new PEDOT formulations with improved conductivity, stability and film quality by modifying the production process and doping technique. Continuous R&D in enhancing the characteristics of PEDOT films will further increase its replacement of ITO and drive higher adoption in emerging flexible electronics.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the PEDOT market is low due to the presence of established players and the requirement of huge capital investments to set up manufacturing plants.
Bargaining power of buyers: The bargaining power of buyers in the PEDOT market is low as it is a consolidated market dominated by few leading players and buyers do not have many alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are large number of raw material suppliers globally.
Threat of new substitutes: Threat of substitutes is moderate due to availability of alternatives such as PANI and PEDOT:PSS polymer.
Competitive rivalry: The competitive rivalry in the market is high owing to presence of global as well as domestic players offering variety of PEDOT products.
Key Takeaways
The Global PEDOT Market Size is expected to witness high growth during the forecast period. The global PEDOT Market is estimated to be valued at US$ 4.43 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023-2030.
The Asia Pacific region dominates the global PEDOT market and is expected to grow at the fastest rate during the forecast period owing to rising production and demand from various end use industries in emerging economies such as China and India. With rising industrialization and urbanization, the demand for PEDOT is expected to increase substantially in Asia Pacific during the forecast period.
Key players:
Key players operating in the PEDOT market are ADM (US), Cargill, Incorporat, DuPont (US), BASF (Germany) among others. ADM and Cargill dominates the global PEDOT market owing to their diverse product portfolio and strong distribution network across regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
