Transparent Electrode Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 04/16/2019 -- Transparent Electrode are oxide degenerate semiconductor electrodes that carries a high level of light transmittance in the visible light spectrum, and low resistivity simultaneously. These are widely used in optoelectronic devices, such as touch panel screens, liquid crystal displays, and solar cells. At present, the transparent conductors used for such applications are made of indium tin oxide (ITO). The transparent electrode market is expected to expand at a higher growth rate in the forecast period owing to the increasing demand of optoelectronic devices and displays from consumer electronics and other sectors. The global transparent electrode market is expected to witness a substantial growth during the forecast period.
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This is due to its increasing demand across various application sectors such as Consumer electronics, healthcare, industrial and medical sector. The increase in consumer electronic production worldwide is stimulating the growth in demand for transparent electrode and associated components. The continuous innovation in technology has increased the demand for global transparent electrode in industrial, military and defense. However, brittle, prone to breakage, and expensive transparent electrodes is acting as a restraining factor for the growth of transparent electrode market. Efforts are being taken by many manufacturers to upgrade their research and development activities to analyze further application that is expected to generate profitable growth opportunities for the market in the forecast period. The manufacturer are looking for flexible, unbreakable, and transparent electrodes that fulfill the applications in both large-scale and mobile optoelectronic devices including ones that are flexible.
The global transparent electrode market is segmented on the basis of product type, accuracy type, end-user and region. On the basis of product type, the market has been segmented into Indium tin oxide (ITO) Transparent Electrode, Carbon Nanotube (CNT) Transparent Electrode, Nanowire and others. ITO Transparent Electrode is the mostly adopted electrically conductive material currently owing to its low resistivity of ~10?4 ?·cm and a transmittance of greater than 80%. However, ITO-based transparent electrodes are brittle, prone to breakage, and expensive. Therefore, there is strong demand for alternatives to ITO transparent electrodes. Furthermore, Rapid developments in the manufacturing technology of low-cost, high-quality carbon nanotubes (CNTs) are leading to increased industrial applications for this remarkable material.
One of the most promising applications, CNT based transparent conductive films (TCFs), are an alternative technology in future electronics to replace traditional TCFs, which use indium tin oxide. On the basis of application, the market is segmented into LCDs, OLEDs, Solar Photovoltaic (PV), Transparent Display and others. LCD application is expected to the largest application segment owing to its high adoption of LCD display in consumer electronics, healthcare devices, military & aerospace and industrial PC devices worldwide, stimulating the transparent electrode market. However, Solar Photovoltaic (PV) is expected to the fastest growing market owing to the high investment in harnessing renewable solar energy through solar power plants globally.
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In the region wise study, the global transparent electrode market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific which comprises China, India, South Korea, Australia and other rising economies captured significant market share followed by North America and Europe in 2017. Asia Pacific showed the fastest growth rate during the forecast period due to the emerging economies. China represents huge potential for the transparent electrode with the low cost of raw materials and huge production facilities in the country. The region's dominance is attributed to increasing investment in solar energy in countries such as Japan, South Korea, China, and India. Moreover, rapid level of industrialization in this region is also contributing to growth of transparent electrode market.