The global printed electronics market in terms of revenue was estimated to be worth USD 9.9 billion in 2021 and is poised to reach USD 23.0 billion by 2026, growing at a CAGR of 18.3% from 2023 to 2028. The new research study consists of an industry trend analysis of the market.
The key factors fueling
the growth of this market include increased demand for printed electronic
products in automotive & transportation, growth of the consumer electronics
industry, increased adoption of IoT by end-use industries, and significant cost
advantages offered by printed electronics.
Screen printing technology
accounted for the largest share of the market in 2021
The growth of screen
printing can be attributed to the increased use of screen printing for
manufacturing displays and sensors. Screen printing is mostly used for
manufacturing displays of commercialized devices such as smartphones and
laptops.
It is also used to
develop sensors and photovoltaic (PV) cells by enabling the precise printing of
thin and thick lines on substrates. Moreover, Advanced techniques enable the
integration of electronic printing in any material such as paper, nylon,
cotton, plastic, and glass, creating affordable smart objects.
Inks material segment to
register the highest CAGR during the forecast period
The inks segment is
projected to grow at a higher CAGR during the forecast period.Printed
electronics use metal-based inks to manufacture electronic components.
Printed electronic inks
offer low-temperature capabilities and cost-effectiveness, significantly
impacting product performance and manufacturing costs. Conductive inks are
widely used for printing applications. The use of metals in conductive inks
makes them best suited for printing electronic devices and components.
Technological
innovations in conductive inks and their improved performance have driven
demand for these inks globally. Additionally, there are more manufacturers of
conductive inks than dielectric inks. Conductive inks, especially silver
conductive inks, have been widely used in printed electronics.
Automotive &
transportation end-use industry accounted for the largest share of the printed
electronics market in 2021
The automotive &
transportation end-use industry is expected to account for the largest share of
the market in the next few years.
A wide variety of
printed electronics such as displays, sensors, thin-film PV cells, and OLED
lighting solutions are used in the automotive industry. Printed electronics
also play a prominent part in the interiors of automobiles. For instance,
conductive inks can be used in car seat heaters and window defoggers.
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The use of molded
electronics enables automotive designers to incorporate various electronic
features into their vehicles while reducing the complexity of electronic
circuitry. The deployment of PV cells in vehicles helps improve fuel
consumption and reduce carbon emissions. Organic solar cells can be integrated
with vehicles for electricity generation and ensure the necessary ventilation
on hot days.
Asia Pacific to register
the highest CAGR during the forecast period
The APAC is projected to
witness growth at the highest CAGR from 2021–2026. Market growth can be
attributed to the rapid economic growth in major countries such as China,
Japan, and South Korea.
Most R&D activities
for new materials and devices are conducted in the APAC. The region is a mass
producer of electronic devices. Moreover, several key market players such as
Samsung Display (South Korea), LG Display Co., Ltd. (South Korea), and E Ink
Holdings (Taiwan) mark their presence in this region. Furthermore, rapid
urbanization & industrialization, the increased GDP of emerging markets,
and political support to expand the manufacturing sector in developing
countries in the APAC contribute to market growth.
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