According to latest market research
report "Printed
Electronics Market by Printing Technology (Screen, Inkjet,
Gravure, Flexographic), Application (Displays, Sensors, Batteries, RFID,
Lighting), Material (Inks, Substrates), End-Use Industry, and Geography -
Global Forecast to 2024", The
printed electronics market is projected to grow from USD 9.8 billion in 2019 to
USD 19.8 billion by 2024; it is expected to grow at a CAGR of 15.1% during the
forecast period. The growth of the market is mainly driven by the increased use
of printed electronics for the development of smart and connected devices, rise
in the global demand for energy-efficient, thin, and flexible consumer
electronics, high demand for new generation flexible printed electronics, and
significant cost advantages offered by printed electronics.
The inkjet printing technology segment
of the printed electronics market is projected to grow at the highest CAGR
during the forecast period.
Inkjet
printing is a contactless printing process, which is suitable for applications
requiring a uniform thickness of printed lines. Unlike screen printing, inkjet
printing is used in emerging textile and industrial applications, among others.
It can digitally control the ejection of ink droplets of defined volume, and
precisely position them onto substrates.
The displays application segment is
expected to account for the largest size of the printed electronics market from
2019 to 2024.
Printed
displays are mainly used in consumer electronics such as wearables and mobile
devices. Increased demand for energy-efficient, thin, and flexible consumer
electronic products is fueling the demand for printed displays globally.
Leading manufacturers have introduced thin, flexible, and energy-efficient
displays developed using the organic light-emitting diodes (OLED) technology in
the market. OLED technology is one of the major applications of printed
electronics and is being used in high-end smartphones.
The aerospace & defense end-use
industry segment of the printed electronics market is projected to grow at the
highest CAGR during the forecast period.
The
aerospace & defense segment of the printed electronics market is projected
to grow at the highest CAGR during the forecast period owing to the increasing
use of printing electronics-based lighting in automobiles and home appliances.
Printed electronics are largely being adopted in the aerospace & defense
industry owing to their lightweight, less complexity, and high reliability,
which ultimately results in their low maintenance requirements.
The printed electronics market in APAC
is projected to grow at the highest CAGR from 2019 to 2024.
Countries
such as China, Japan, South Korea, and Australia are major contributors to the
growth of the printed electronics market in APAC. Factors such as the
acceptance of innovative technologies and the increased popularity of advanced
consumer electronics are driving the growth of the printed electronics market
in APAC. The region is a manufacturing hub for electronic devices and
components. The growth of the printed electronics market in APAC can be
attributed to the large-scale production of electronic components and increased
investments in R&D activities related to printed electronics in the region.
Key
players in the printed electronics market include Samsung Electronics Co., Ltd.
(Samsung) (South Korea), LG Electronics Inc. (LG) (South Korea), Palo Alto
Research Center Incorporated (PARC) (US), Agfa-Gevaert Group (Agfa-Gevaert)
(Belgium), Molex LLC (Molex) (US), Nissha Co., Ltd. (Nissha USA) (US), DuPont
de Nemours, Inc. (DuPont) (US), BASF SE (BASF) (Germany), NCC Nano, LLC
(NovaCentrix) (US), E Ink Holdings (US), and Ynvisible Interactive Inc.
(Ynvisible Interactive) (Portugal).
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