Stretchable Conductive Material Market - Forecast(2024 - 2030)

Stretchable Conductive Material Market Overview

The global stretchable conductive material market size is forecast to reach US$ 1.8 billion by 2027, growing at a CAGR of 26.4% from 2022 to 2027. The stretchable conductive materials have ability to conduct heat or electricity with high elasticity which widens the range of applications. These materials usually use plastics, polymers or composites. In composites, the fillers such as Graphene, Carbon Nanotubes (CNTs) and metal particles are used to incorporate conductive properties in a flexible matrix. They exhibit various properties such aselectro conductive, electroluminescent, ferromagnetic, self-healing, antioxidant, antibacterial and others. They are used in devices such as photovoltaics, wearable sensors, flexible supercapacitors, LED displays and others. The factors such as growth of compact consumer electronics and wearables as well as an increase in innovative medical devices and implants are driving the growth of this market. Challenges such as large deformation rate, expensive fabrication processes and low product life restricts the stretchable conductive material market growth

Report Coverage

The report: “Stretchable Conductive Material Industry Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Stretchable Conductive Material industry.

By Material: Composite(Single filler, Multi filler ), Polymer, Plastics, Others
By Fillers: Graphene, Carbon Nanotubes (CNTs), Carbon Black, Silver, Copper, Others
By Stretching mechanism: Intrinsic stretchable filler, Percolation network, Stretchable geometry (Wavy surface structure, Serpentine or spiral, Porous or Fabric, Others )
By Fabrication: Dry Process (Chemical vapor deposition (CVD), Array drawing, Others ), Wet process (Mixing, Drop-casting , Spin-coating, Printing, Vacuum filtration, Others )
By Function: Electro conductive, Electroluminescent, Ferromagnetic, Self-healing, Antioxidant, Antibacterial, Others
By Application : Energy storage (Capacitors, Photovoltaic) ,Electronic components (LED display, Strain sensors, Electrodes, Others )
By End user: Power & Energy, Healthcare & Pharmaceuticals, Consumer electronics, Life sciences, Military and defense, Education, Robotics, Others
By Geography: North America (U.S, Canada, Mexico), Europe(U.K, Germany, France, Italy, Spain,Others), APAC (China, Japan, South Korea, India, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa)

Key Takeaways

• The graphene segment held the largest market share in the stretchable conductive material market segmented by fillers. This is owing to high conductivity and mechanical strength properties as well as cost effectiveness.
• The consumer electronics segment held the largest share in stretchable conductive material market by application, in 2021. This is attributed to miniaturization of devices and growing trend of wearable electronics.
• Asia-Pacific (APAC) market is predicted to be the fastest growing at a CAGR of 24.6% over the forecast period 2022-2027. This is due to increase in research in stretchable conductive materials, growing demand of photovoltaic cells and promoting government policies.
• The growth of demand of wearable consumer electronics, photovoltaic devices, rising applications in biomedical sector and increasing government initiatives and financial support are the contributing factors in the growth of stretchable conductive material market.

Stretchable Conductive Material Market Value Share, By Geography, 2021 (%)

Stretchable Conductive Material Market Segment Analysis- By Filler

The Stretchable Conductive Material market by filler has been segmented intographene, carbon nanotube (CNT), carbon black, silver, copper and others. The graphene segment held the largest share of 32%, in 2021. This is owing to growing use of solar photovoltaic cells and increasing demand of flexible and compact electronic components. The exceptional electrical conductivity and mechanical properties imparted by graphene fuels its use in stretchable conductive materials. These graphene filler-based materials are used in batteries and supercapacitors for energy storage which is also used on a large scale. In December 2021, Grafren AB, located in Sweden, announced the G-Heatex, a series of graphene-coated textiles. Due to the high electrical conductivity of graphene, attached flakes create a conductive skin on every fibre, which makes the entire fabric electrically active. Graphene can be coated on diverse textile substrates and the electrical resistance can be tailored depending on the application requirements. Thus, growing research and wide range of application of the innovative graphene-based materials is helping the growth of stretchable conductive material market.

Stretchable Conductive Material Market Segment Analysis- By End User

The stretchable conductive material market by end user has been segmented intopower & energy, healthcare & pharmaceuticals, consumer electronics, life sciences, military and defense, education, robotics and others. The consumer electronics segment held the largest stretchable conductive material market share of 40%, in 2021. This is due to the growing demand of compact, flexible and wearable electronics. As the essential component of electronics, printed circuit boards (PCB) use stretchable conductive materials hence this market has significant growth in consumer electronics segment. In May 2022, Electroninks, Inc. announced the production-scale availability of its full suite of proprietary metal organic decomposition (MOD) conductive metal ink solutions. In addition to bringing standalone ink products to market, it announces its line of ink products, including its own small prototype additive manufacturing solution for rapid on-demand printed circuit board (PCB) printing and repair. Thus, growing research and development as well as demand of flexible printed circuit boards and other components of consumer electronics spurs the growth of stretchable conductive material market

Stretchable Conductive Material Market Segment Analysis- By Geography

The Stretchable Conductive Material market by geography is segmented into North America, Europe, Asia-Pacific (APAC), South America, and the rest of the world (RoW). APAC (Asia-Pacific) is predicted to grow at the fastest rate with a CAGR of 28.1% over the forecast period of 2022-2027.This is attributed to increasing demand of wearable electronics, large scale of manufacturing of electronics in Asian countries and supporting government policies. Stretchable conductive materials made of elastic matrix and conductive fillers are widely used in wearable electronics such as smartwatch, AR/VR glasses and others due its ability to bend, stretch without losing its conductive properties. In October 2021, Panasonic Electronic Materials Division, announced BEYOLEX, a new thermoset stretchable conductive film for printed electronics. The material is based on a proprietary non-silicone thermoset polymer chemistry developed by Panasonic researchers in Japan. Thus, many other Asian countries such as Japan, China, Taiwan lead in research and development of stretchable conductive materials which drives the growth of this market.

Stretchable Conductive Material Market Drivers

The growing government initiatives to promote the research and innovations in stretchable conductive materials for flexible applications boost the market growth.

The growing demand of flexible wearable sensors-based electronics, energy storage technologies such as photovoltaics, flexible supercapacitors and others have promoted the use of stretchable conductive materials. The demand and the need for energy conservation solution is attracting the government initiatives and financial support for the research, development and production of solutions such as stretchable conductive materials preventing energy loss. As the stretchable conductive materials use expensive raw materials and costly fabrication processes, the assistance provided by governments help in the growth of this market. For instance, according to National Academies Press report, the European Union’s Future and Emerging Technology (FET) Flagship projects are large-scale science-driven research efforts aimed at achieving visionary goals. One of the first FET Flagship projects announced was the Graphene Flagship, a 10-year and one billion Euros of effort to develop applications and manufacturing processes for graphenes. Envisioned applications include fast, flexible and strong consumer electronics such as electronic paper and bendable personal communications devices. Another initiative, the Seventh Framework flexible electronics projects address a broad variety of themes in the field, including organic lighting systems, manufacturing technology, applications, organic photovoltaics, and systems integration with a budget in the range of 4 to 15 million Euros. Thus, government initiatives to promote research in stretchable conductive materials for energy efficient solutions and other application are fueling the growth of this market.

The increasing innovations and usage of stretchable conductive materials in the biomedical implants and devices is driving the growth of this market

Increasing research and development of stretchable conductive materials is widening its range of application. Healthcare and biomedical is having numerous applications of stretchable conductive materials in various devices and implants. The use of biologically compatible materials with flexible and conductive properties is driving the growth of research in this field. For instance, in 2022, Grapheal, a France-based associated member of the Graphene Flagship, launched its Test NPass technology using graphene based stretchable conductive material as graphene is highly sensitive biosensor. This technology features a stand-alone test strip to detect biomarkers that is connected to a smartphone. After the test, the test strip delivers a time-stamped, encrypted RFID tag . In May 2022, according to a paper published in Science Advances journal, states that the development of vascular electronics for arterial sensing requires soft pressure sensors. Advances in stretchable conductive materials offer a means of forming wireless arterial sensors. It is formed using the printed layers of PI, silver nanoparticles (AgNPs), and polydimethylsiloxane (PDMS) forming the pressure sensor with stretchable interconnects which shows promising results. Thus, there is growing research on stretchable conductive materials for medical applications which has a huge potential yet to be explored and will contribute to growing stretchable conductive material market.

Stretchable Conductive Material Market Challenges

There are technical challenges such as high deformation, low life of stretchable products and time-consuming fabrication processes which limits the growth of stretchable conductive material market

As the stretchable conductive materials are available in various forms such as tapes, paste, ink, fabric and many others, its fabrication processes are expensive and time consuming. The production line involves costly machinery and raw materials are also expensive which makes it difficult for mass production. Another limitation is high deformation especially at higher temperatures, composites or polymers cannot exhibit sufficient strength even after adding fillers or with geometric structure. Hence, for durable applications, stretchable conductive material is not preferred. These materials also have low life span due to frequent stretching and weakening of internal bonding. These materials are still under development and have many such technical limitations on which research is ongoing. For instance, according to a report by AZO materials, Liquid state conductors are suitable for creating compliant electrodes as they are inherently deformable compared to solid composites. The fabrication process transforms the liquid metal coating into a mesh-like morphology, which improves the overall permeability and wearing comfort. However, the porous liquid metal conductor is incompatible with the less stretchable textiles. Thus, challenges to streamline fabrication process and maintaining the material properties are hindering the growth of this market.

Stretchable Conductive Material Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Stretchable Conductive Material industry. The Stretchable Conductive Material top 10 companies include:

1. DuPont & Co.
2. 3M Company
3. Applied Nanotech Inc.
4. Advanced Nano Products Co. Ltd.
5. Indium Corporation
6. Toyobo Co. Ltd.
7. Osaka Organic Chemical Industry Ltd
8. Vorbeck Materials
9. BASF SE
10. Panasonic Corporation

Recent Developments:

• In May 2022, Nova Centrix announced the release of its newest product: jettable gold ink. The Metalon® JG.line of jettable gold inks are ideal for applications like biomedical and electronics. Early customers include advanced R&D groups as well as universities and institutes. This stretchable conductive materials in the form of ink has wide range of applications such as displays. Thus, it can rapidly gain a significant market share with the innovative product manufacturing.
• In March 2022, the research group at Soft Hybrid Materials Research Center in the Korea Institute of Science and Technology (KIST), announced a lithium battery wherein all of the materials, including of the cathode, anode, electrolytes, current collector and encapsulant, are printable and stretchable. Their performance even following repeated pulling of the battery 1,000 or more times, a high stretchability of 50% or above, and long-lasting stability in air. This breakthrough product is predicted to have potential to capture a large share of stretchable conductive material market
• In December 2021, Continental Corporation announced in November 2021 that is received a €1 billion order for its OLED displays from BMW and Audi, using OLED tail lights in some of their models. Carbon nanotube-based heaters in head lights and windshields also have the potential to improve lighting and visibility. Thus, innovations in automotive sector is driving the growth of stretchable conductive materials market.
• In June 2021, a new study, North Carolina State University researchers demonstrated they could print layers of electrically conductive ink on polyester fabric to make an e-textile that could be used in the design of future wearable devices. Also the researchers described use of FUJIFILM Dimatix inkjet printer to create a durable and flexible e-textile material, to reliably create the e-textile, and its properties. Thus, such a easy fabrication process can reduce the cost and increase profits in stretchable conductive materials market.

Relevant Report Titles:

Stretchable Electronics Market- Forecast 2021 – 2026

Report Code: ESR 30559

Conductive Polymers Market - Forecast(2022 - 2027)

Report Code: CMR 0326

Conductive Plastics Market- Forecast(2022 - 2027)

Report Code: ESR 0325

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