Most polymers, especially commodity polymers, that are used in various applications offer similar electrical and optical properties. These polymers are non-conductive and colorless. Conjugated polymers are different from commodity polymers; these polymers are semi-conductive or conductive, and interact with light. Conjugated polymers are polymers with an alternating double and single bond attached to the backbone. Electrical and optical conductivity is an important property of conjugated polymers. Commodity monomers do not provide such properties, which are necessary in most of the modern high-tech applications. Conjugated polymers are used in various applications in industries such as semiconductors and light-emitting devices. Increase in demand for conjugated polymers in these industries is estimated to drive the market in the near future.
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Rise in demand for conjugated polymers in organic electronics and extensive use of these materials in light-emitting devices are factors augmenting the conjugated polymers market. This is prompting companies to increase production of these materials. Additionally, easy availability of raw materials is anticipated to boost the demand for conjugated polymers in the near future.
The global conjugated polymers market is witnessing technological advancements. Companies are constantly striving to develop new and better ways to manufacture these materials. Development of new manufacturing processes of conjugated polymers and applications is estimated to propel the market. However, volatility in prices of raw materials is projected to hamper the market.
In terms of product, the conjugated polymers market can be segmented into polyacetylene, polythiophene, poly(3-alkylthiophene), polypyrrole, and others. The polyacetylene segment is anticipated to expand at a fast pace due to the increase in demand for these materials in light-emitting diode applications.
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Based on end-use, the conjugated polymers market can be divided into organic electronics, photovoltaic cell, molecular imaging, and others. The organic electronics segment dominates the market owing to the extensive use of conjugated polymers in organic light-emitting diodes (OLED) in emerging economies such as India and China.
Based on geography, the conjugated polymers market can be split into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute key share of the market during the forecast period. The conjugated polymers market in Asia Pacific is also estimated to expand at a significant pace owing to the rise in demand for these materials in organic electronics in the region. Middle East & Africa is likely to be an attractive region of the conjugated polymers market during the forecast period due to the rise in demand for these polymers in photovoltaic cells in the region.