Printed Electronics Market Is Registering A CAGR Of 22.3% Over The Forecast Period
Printed Electronics Industry Overview
The global printed electronics market size is projected to reach USD 52.58 billion by 2030, registering a CAGR of 22.3% over the forecast period, according to a new report by Grand View Research, Inc. The surging demand for flexible electronics at low manufacturing costs and the need for eco-friendly technologies is paving the way for increased adoption of the technology. In addition, the increasing penetration of IoT across the globe is proving to be a prime factor in pulling the market over the forecast period. The continuously growing demand for IoT in the telecommunication industry for enhancing the network and optimizing the performance along with operations is expected to propel the application of technology over the forecast period.
Numerous technological advancements and developments have led to the evolution of various electronic gadgets and instruments. The growing awareness is leading to the early adoption of these innovative products significantly. Market players are investing in R&D activities for enhanced product portfolios and to establish their presence in the global market. Eventually, the adoption of efficient and reliable technologies, such as printed electronics, has turned out to be a necessity for manufacturers across the globe. Therefore, it is anticipated to seek notable attention across the consumer electronics sector over the forecast period. The market is categorized based on the materials needed, technologies, and devices. The Asia Pacific region accounts for the maximum demand for conductive inks and is expected to lead the global market over the estimated time.
This demand can be accredited to the increased production of consumer electronics across the region. Countries in North America and Europe have a strong presence of various organizations and associations that promote and invest in R&D for developing the technology. The characteristic features of the inkjet technology, such as less ink consumption and material wastage, flexibility, compactness, and less initial investment costs, are boosting its adoption. Furthermore, printed electronic RFID devices are another segment expected to observe a remarkable rise over the forecast period due to the demanding application in the packaging sector. Hence, positively impacting the global market growth.
Printed Electronics Market Segmentation
Grand View Research has segmented the global printed electronics market on the basis of material, technology, device, and region:
Based on the Material, the market is segmented into Ink, and Substrate.
- The global market has been further segmented into inks and substrates. The ink materials segment accounted for the largest share of more than 78.00% in 2021. The segment is expected to retain its dominant position growing at the fastest growth rate during the forecast period.
- The inkjet and screen-printing typically imprint rigid substrates like glass and silicon. While the mass-printing methods use flexible foil and paper. Polyethylene Terephthalate(PET) is the most commonly used material for substrate owing to its low cost and higher temperature stability.
Based on the Technology, the market is segmented into Inkjet, Screen, Gravure, and Flexographic.
- The global market has been further segmented into inkjet, screen, gravure, and flexographic technologies. The screen-printing technology segment dominated the global market in 2021 and accounted for the maximum share of more than 64.00% of the overall revenue. The segment is expected to continue dominating the global market over the forecast period.
- The screen-printing technology uses a mesh to transfer ink onto a substrate. High quality and durable outputs are obtained with this method of printing technology. However, the inkjet printing technology is estimated to witness the fastest growth rate over the forecast period.
Based on the Device, the market is segmented into Displays, Photovoltaic, Lighting, RFID, and Others.
- The global market has been further segmented into display devices, photovoltaic, lighting, RFID, and other devices. The display devices segment accounted for the largest share of more than 36.00% of the global revenue. The segment is anticipated to maintain its dominance over the forecast years.
- Printed electronics technology is undergoing a steady adoption rate in other devices segment that includes printed batteries, sensors, medical & healthcare, and media. The RFID device segment is witnessing notable traction across the globe owing to the increasing application of RFID in the rapidly growing packaging industry.
Key Companies & Market Share Insights
Companies are focusing on expanding their business across different regions to cater to the growing consumer demand. Companies are targeting emerging markets to expand their customer base through partnerships and acquisitions. The marketplace is witnessing a focused competition between the key players for understanding the market and establishing domination via rigorous R&D, innovative product launches, and enhancements in printing capabilities. Companies are also engaging in agreements to gain a competitive edge in the market. For instance, in April 2021, E Ink Holdings Inc. formed an agreement with DATA MODUL, a company that provides touch, display, and embedded monitors, for reselling its products focusing on the U.S. and European markets. Some of the prominent players operating in the global printed electronics market are:
- BASF SE
- DuPont
- Molex, Inc.
- PARC, a Xerox company
- E-Ink Holdings, Inc.
- Thin Film Electronics ASA
Order a free sample PDF of the Printed Electronics Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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