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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