Organic Electronics Market in India 2023-2028

The potential for growth in the organic electronics market in India is evident due to the rising demand for flexible and lightweight electronic devices. Various research and development endeavours are being pursued to explore the applications of organic electronics in sectors such as displays, lighting, sensors, and photovoltaics. The Indian government has expressed interest in fostering the organic electronics industry, supporting initiatives that encourage research, innovation, and collaboration between academic institutions and industry stakeholders. OLED technology is gaining prominence in India, especially in premium smartphones and high-end TVs. The OLED TV segment in India is expanding as consumers favour the superior picture quality and sleek designs offered by OLED TVs. Notably, flagship smartphones from different brands in India now feature OLED displays, contributing to the growing adoption of OLED technology in the mobile sector. The organic electronics market in India was valued at INR 211.45 Bn in 2022. It is expected to reach INR 662.98 Bn by 2028, expanding at a CAGR of ~21.59% during the 2023 - 2028 period.

Market Influencers:

Drivers

Significant investments from public and private sectors are driving the commercialization of organic electronic devices. Ongoing technological advancements in organic electronics inspire investor confidence, with a focus on flexible displays, sensors, and photovoltaics. India's improved Network Readiness Index position indicates a favourable environment. Organic semiconductors find applications in solar energy, healthcare, and expansive electronics. The electronics industry aims to promote a circular economy through product longevity, repairability, and recycling initiatives. Organic materials align with the demand for eco-friendly technology, with continuous research enhancing their performance. The government's Budget 2023 includes a reduction in customs duty, impacting pricing competitiveness for organic electronic devices. Factors like minimal import duties and Import Substitution Industrialization contribute to the industry's landscape.

Challenges

The use of biodegradable plastics offers environmental advantages, but proper disposal methods, like composting, are crucial for their efficient decomposition. Attention to recycling programs is essential to maximize these benefits. Organic electronics, while providing flexibility and sustainability, face challenges like shorter durability and stability issues due to environmental factors. High-performance organic semiconductors encounter hurdles in charge carrier mobility. Integrating with traditional manufacturing processes requires modifications. Economic barriers, initial investments, and limited high-quality materials hinder commercialization. Collaborative efforts focus on improving materials and stability, signalling a positive outlook for transforming industries.

Market Trends:

The consumer electronics industry is experiencing significant growth driven by the increasing affordability and advanced features of smartphones, reaching a broader consumer base. There is also a rising demand for televisions, supported by the development of expansive, flexible, and cost-effective electronics. The organic electronics market, with its ability to create flexible, lightweight, and potentially transparent devices, is opening new design possibilities. There is a notable trend towards electronic devices offering flexibility and bendability, making organic electronics well-suited for applications like flexible displays, wearables, and rollable solar panels. The advantages of flexible electronics, including size, weight, portability, and energy efficiency, enable the realization of previously unattainable designs and technologies, such as wearable devices. The exploration of biodegradable flexible electronics has the potential to influence future design trends and foster innovation in Electronic Design Automation (EDA) software for electronic and Printed Circuit Board (PCB) design.

Competitive insights:

The Indian OLED display market requirements are being fulfilled by major companies through various strategies and offerings: Major companies are diversifying their product portfolios to include OLED displays for smartphones, TVs, and other electronic devices. Companies collaborate with Original Equipment Manufacturers (OEMs) to integrate OLED displays into their devices. Companies focus on expanding their presence in the Indian market, considering the country's growing consumer base.