Conductive Inks Market: Providing Better Electric Conductivity
Conductive ink results in a printed object, which conducts electricity. It is produced by infusing conductive substrates into ink. Conductive inks comprise silver, graphite, carbon, or any other type of precious metal coated base material. Conductive inks can be applied in different ways including, flexographic, screen print, spray, dip, stencil print, and syringe dispense, among others. Growing use of conductive inks in OLEDs, smart packaging, flexible displays, thin film transistors, and smart textiles is projected to surge the demand for conductive inks over the forecast period. Recent advancements in the printed electronics sector have enabled conductive inks find application in electronic and medical devices, which is projected to drive the market growth over the forecast period. Conductive inks are being widely used in flexible displays, smart lighting, RFID tags, and so on. Rising demand for miniaturized and efficient electronic devices is also fueling the market growth. Smart devices, touch screens, printed batteries, and printed sensors are some of the major application areas of conductive inks, which is contributing to the positive growth of the market globally.
The global conductive inks market is estimated to be valued at US$ 2,723.2 million in 2017 and is expected to witness a CAGR of 6.2% during the forecast period (2017 – 2025).
Figure 1. Global Conductive Inks Market Share, By Application 2017 (%)
Growing demand for miniaturized and efficient electronic devices drives the market
Conductive inks are used in printed electronics for better electric conductivity and efficient operation. Silver conductive inks are primarily applied in PV cells and membrane switches, which is identified to be the prime trend in the global conductive inks market. Consumer goods is a key application industry of conductive inks, for example, smart packaging, which contributes significantly to the market growth. In addition, conductive inks find application in printed circuit boards and biosensors. Need for printed materials for smart textiles as well as wearable electronics, for example, health monitoring, smart and OLED displays, etc. is fueling the demand for conductive inks globally. Increasing adoption of diverse conductive inks in cutting-edge medical devices along with sensors and industrial equipment can be considered as a key driver for the market. The market in Asia Pacific is projected to gain traction over the forecast period, mainly due to the increasing application of conductive inks in smart devices, touch screens, sensors, and so on, mainly in China and Japan. However, the high cost of silver conductive inks along with fluctuating prices of conductive inks hinders market growth.
Significant application of conductive inks in advanced medical sensors to drive the market growth
Market for conductive inks is gaining traction globally as a result of high rate of commercialization of printed electronics in emerging economies along with rising consumption of smart devices, miniaturized devices, and printed batteries. In addition, growing application of conductive inks in different components of vehicles is another prominent driver for the market. Growing usage of conductive inks in medical sector, for instance, in medical sensors and other devices, is anticipated to surge the demand for conductive inks. Product innovation through research and development is one of the major approaches adopted by key players operating in the conductive inks market to strengthen their foothold globally. The launch of novel products such as gold, aluminum, and nickel based conductive inks is expected to bolster the market growth further.
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