Printed electronics is a set of printing techniques applied to produce electrical devices on different substrates. Screen printing, gravure, flexography, offset lithography, and inkjet printing are some of the major printing techniques used for defining patterns on substrates or materials. The printed electronics market is expected to gain steady growth in the foreseeable future, due to the commercialization of printed devices in various industries such as healthcare, automotive, consumer electronics, and media. Increasing proliferation of smart displays and touch devices is also contributing towards positive growth of the market. Medical sensors and diagnostic devices are some of the prime application areas of the printed electronics. Increasing application of printed batteries in different medical devices is also considered as one of the drivers for the market. Adoption of printed batteries as they are stretchable, rechargeable and flexible is another major ongoing trend in the printed electronics market. Growing application of printing technologies in memory, logic energy storage devices, mobile chips and printed circuit boards is expected to act as a major driver for the market over the forecast period.
Increasing adoption of printed electronics in the photovoltaic cells in order to convert solar energy into electricity along with growing application of conductive inks are some of the prime driving factors for the market. Printed electronics increases the electronic functionality of substrates than conventional rigid electronic fabrication techniques. While conventional electronics are used in packaging and print, integrating large-scale printable electronics primarily offers lightweight and thin electronics using high-volume manufacturing processes in cost effective way. Product innovation through research is one of prime strategies adopted by the key players operating in the printed electronics market to strengthen their positions globally. Growing application of printed sensors, batteries and other portable devices are anticipated to fuel the market for printed electronics over the forecast period globally. Moreover, growing usage of printed electronic devices in the healthcare industry is also contributing in the positive development of the market. Asia Pacific is leading the market for printed electronics, followed by North America due to increasing demand for the smart devices and displays. Owing to rapid progression of electronic products which includes RFID, membrane switches, electronic labels and printed displays are anticipated to contribute in the positive development of the market over the forecast period.
The global printed electronics market growth is being restrained by the complexity of printed electronics manufacturing methods. Manufacturing challenges include high processing speed, monitoring the uniformity, managing curing temperature, and others are the challenging methods used for printed electronics devices. Apart from these, the substrate properties such as smoothness, porosity, ink uptake, chemical and physical compatibility are a few other challenges that are still to be solved. Therefore, all these manufacturing challenges are restraining the growth of the global printed electronics market growth.
Global Printed Electronics Market - Impact of Coronavirus (Covid-19) Pandemic
The spread of COVID-19 has had an impact on the display industry, as manufacturers of display panels have experienced production disruptions as a result of lockdowns enforced in many nations. Many companies wanted to expand their markets across the globe, but due to supply chain disruptions, several companies had to hold their decision of production. For example, LG Display Co., Ltd., wanted to expand its OLED production at its Guangzhou factory in China. Due to the COVID-19 epidemic, the company experienced production delays, resulting in a reduction in display shipment.
Asia Pacific held a dominant position in the global printed electronics market in 2021
Asia Pacific held dominant position in the global printed electronics market in 2021, accounting for 36.0% share in terms of volume, followed by Europe and North America, respectively.
|Base Year:||2021||Market Size in 2021:||US$ 4,771.9 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||22.1 %||2030 Value Projection:||US$ 55,566.5 Mn|
Ensurge Micropower ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck, Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E-Ink Holdings Inc., Molex.Inc, PARC, a Xerox company
|Restraints & Challenges:||
Figure 1: Global Printed Electronics Market Share (%), By Region, 2021
Asia Pacific is expected to account for the largest market share for the global printed electronics market during the forecast period. Technological advancements and a strong emphasis on energy harvesting in nations like China, Japan, and South Korea are major contributors to the business for the printed electronics market. Japan and China are industrial hub with a plethora of electronic equipment, components, devices, and other industries that rely on printed electronics to save energy. The demand for highly advanced and miniature electronic gadgets and products is likely to rise in the future. As a result, the printed electronics market is expected to show prominent growth in the forecast period.
North America and Europe regions are expected to gain traction during the forecast period owing to increasing investments in R&D and increased usage of the technology in numerous industrial applications, such as photovoltaic, lighting, and RFID devices. The growing popularity of electronics items and the increasing acceptance of innovative technologies across the European region is contributing to the expansion of the printed electronics market in Europe. For instance, Keiron Printing Technologies has received funding through Thematic Technology Transfer (TTT) which is a Smart Industries fund, backed by Innovation Industries. The financing will help the Eindhoven startup develop a proof of concept for its laser-assisted deposition equipment for printed electronics and speed up market adoption.
Displays segment is expected to drive the global printed electronics market during the forecast period
Among application, Printed electronics are primarily used in smart labels, as they offer rapid replacement for conventional labels. The wide verity of applications of printed electronics in flexible displays is due to properties such as light weight, ultra-thin, bendable, shatter-proof energy efficient, portable and unbreakable. Furthermore, increasing utilization of printed electronics in memory or logic and different sensors propels growth of the market. Increasing demand for Internet of Things (IoT) applications and significant cost advantages provided by the printed electronics products is boosting growth of the printed electronics market.
Figure 2: Global Printed Electronics Market (US$ Bn) Analysis and Forecast, 2017 - 2030
The global printed electronics market was valued at US$ 4,771.9 Mn in 2021 and is expected to reach US$ 55,566.5 Mn by 2030, growing at a CAGR of 22.1% between 2022 and 2030.
Major players operating in the global printed electronics market include Thin Film Electronics ASA*, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck, Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E Ink Holdings Inc., Molex.Inc., PARC, a Xerox company
Printed electronics is a set of printing techniques applied to create electrical devices on various substrates. Screen printing, gravure, offset lithography, flexography, and inkjet printing are some of the major printing techniques used for defining patterns on substrates or materials. As the technology continues to advance, the printed electronics are being used in different products. Low cost, easy production and integration along with flexible form factor are some of the major advantages of printed electronics, which is contributing towards positive growth of the market. In the whole process of printed electronics, optical or electrically functional inks are deposited on materials or substrates to produce active as well as passive devices such as thin film transistors, coils and resistors. Technological advancements in the field of electronics have led to increasing application of printed electronics in smart labels, flexible displays, active cloth and electronic wearable products, among others.
The market for printed electronics is gaining significant traction due to growing application in RFID tags, solar cells, and OLED displays, among others. Increasing application of printed electronics in memory or logic, different sensors is one of the major growth driving factors for the market. Printed sensors and antennas to printed batteries and displays, printed electronics are being integrated into plastic film, paper, fabric, 3D printed objects and metals. These factors are projected to fuel the growth of printed electronics over the forecast period. Printed electronics have wide range of opportunity in the industries like aerospace, healthcare, and media, among others.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.