Organic electronics are defined by the materials that are used in the manufacturing process. For example, electronics made with carbon instead of silicon fall under the umbrella of organic electronics.
The largest market for organic electronics is consumer electronics, especially because of the rising popularity of OLED displays. According to MarketsAndMarkets, OLED displays and other organic components like “organic photovoltaic cells” are becoming more widely used because their “lightweight and energy-efficient nature makes them attractive for portable computing devices” and the “increasing consumer preference for devices with superior display quality, energy efficiency, and innovative designs.” These attributes make them particularly well-suited for use in various wearable technology and medical devices. Market Future Research also claims organic electronics are a go-to for energy-efficient and clean energy technologies like solar panels and displays.
MarketsAndMarkets Research Firm predicts a CAGR of 18.9 percent by 2028, raising the revenue from $59.9 billion in 2023 to $142.1 billion in 2028. This has been corroborated by other research firms like Market Future Research, who predicted that the organic electronics market will grow at a 21 percent CAGR to $195.7 billion by 2032. The math checks out! Based on these numbers, it is safe to predict that the organic electronics market will surpass $200 billion in the next two decades.
According to Market Future Research, the drawbacks of organic electronics are the same reasons that make them appealing. Like most green energy solutions, the manufacturing costs for organic electronic products “is still in the early stages and requires specialized equipment and materials, which can be expensive.” The cost of production will eventually drop; however, the juxtaposition between potential earnings and the increased costs in the initial stages is difficult. Additionally, organic electronics often have lower performance and stability, which can limit uses.
Organic electronics is a growing market, much like solar, a new invention several decades ago. However, will manufacturers be able to fix the durability and production costs? The green energy initiative is better for the planet and the individual consumer, but will that be enough to offset initial costs in a time of economic uncertainty?