Advancements in 3D Printing Technology Most Opportune for Electronics Manufacturers
3D printed electronics is an emerging program that allows electronics to be integrated within or over the surface of gadgets. The concept of 3D printing was primarily used to add antennas and simple conductive interconnects to the exterior of 3D injection-molded synthetic products. With technological advancements in the 3D printed electronics market, the creation of materials and processes to build parts’ internal complex circuitry can be created from a variety of materials with new techniques. In the additive manufacturing process in production, customization can be a big asset to build parts utterly adjusted to a circuit board or any computerized equipment.
The electronics industry has been competitive since the beginning. The demand for tinier, thinner machines with advanced functionality is never-ending. However, challenging jobs such as creating an archetype of a PCB or printed circuit board and parts are mostly outsourced, resulting in a longer wait time. The advent of 3D printing has allowed the creation of in-house prototypes of circuits and circuit boards, reducing the expense, time, and concerns about intellectual property violations. The increasing efficiency and productivity of manufacturers as well as reduced material costs are anticipated to drive the global 3D printed electronics market during the forecast period.
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Market Likely to Witness Heavy Demand for 3D Printing for Flexible Displays, Wearables
Major electronic devices such as smartphones and cameras consist of elements such as sensors and antennas that are manufactured using 3D printing. The miniature components that are required in wearable devices that have space constraints can also be produced by 3D printing. The use of the 3D printed electronic device improves the competence and productivity of manufacturers as well as translates to cost saving in terms of material. 3D printed electronics are trending due to their uses in most demanded electronics such as TVs with a curved and flexible display. As the cost involved in producing displays are higher, TV manufacturers are more likely to offer LCD TVs compared with large OLED screens. However, 3D printed devices such as OLED and EPD-based flexible display are in demand due to their flexible display properties and better viewing angles. Hence, the 3D printed electronics market is anticipated to grow during the near future.
More people are obtaining reliable technology and electronic devices. User consciousness about the advantages of using flexible electronics in various applications is giving the required boost to the global market. Moreover, 3D printed electronics can efficiently help in producing energy-efficient products with better performance and cost-effective production. The use of compact displays in various applications such as vehicles, kiosks, laptops, tablets, and e-book readers has fueled the growth of the 3D printed electronics market. Furthermore, chemicals used in 3D printing have minimal influence on the environment. Rising awareness for the environment and eco-friendly product trends are anticipated to drive the global market during the forecast period.
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Asia Pacific to Dominate Global Market
The expansion of 3D printed electronics applications in sectors such as automotive, aerospace, defense, and consumer electronics is assuring the rise of the 3D printed electronics market due to changing lifestyle trends and growing need for cost-efficient alternatives to conventional manufacturing. The automotive sector is broadly using 3D printing and expected to dominate the market at a CAGR of 31.67% during the forecast period. Moreover, the growing usage of electronic devices in automotive components is propelling the 3D printed electronics market. With various factors influencing the global 3D printed electronics market, it is anticipated to reach the value of US$ 6 Bn by 2031, developing at an outstanding CAGR of ~31% during the forecast period.
The burgeoning presence of major companies across the world and emerging economies with competitive strategies are helping to boost global market growth. Across all regions, the 3D printed electronics market in Asia Pacific is likely to expand at a significant rate during the forecast period. This is mostly due to the increasing applications of 3D printed electronics in various sectors, and the presence of major business players designing and producing 3D printed electronics hardware and software in the APAC. The Asia Pacific is followed by Europe and North America. Furthermore, due to the presence of leading players in the U.S., the North America 3D printed electronics market is anticipated to grow significantly during the forecast period.
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Ongoing COVID-19 Pandemic to Create Barriers in Future for Global Market
The ongoing COVID-19 pandemic has led to nationwide lockdown in major countries that have affected several industries such as automotive, aviation, consumer electronics, and pharmaceuticals. There is a huge deficit of electronic tools and instruments, and decreasing stock market prices has affected the healthcare industry and expected to have a negative impact on the global market. Moreover, financial policies in developing nations are likely to fail to stop a high spike in unemployment and business cessations, which can lead to slow growth after the pandemic period.
The current 3D printing machine can only print one object at a time. Thus, the production of large units can be a major challenge for the market. However, working on one object at a time can allow maximum potential for customization of the product. Moreover, the information gap among various disciplines involved in the advancement of printed electronics is expected to hinder the growth of the 3D printed electronics market. The rising investments in research and development and increasing developments in the Internet of Things technology are most likely to overcome the restraints and challenges influencing the demand for 3D printed electronics. Other factors such as rising efficiency and productivity of manufacturers and expansion of the consumer electronics market in several regions are contributing to the growth of the 3D printed electronics market.
3D Printed Electronics Market: Overview
- According to Transparency Market Research’s latest research report on the global 3D printed electronics market for the historical period of 2017–2019 and the forecast period of 2021–2031, increasing application areas of 3D printed electronics such as aerospace and defense, consumer electronics, medical, and automotive, and rising efficiency and productivity of manufacturers are the major factors expected to boost the global 3D printed electronics market during the forecast period
- The 3D printed electronics market has been segmented based on type and industry. In terms of type, sensors and PCB are projected to expand at a CAGR of 32.86% and 34.71%, respectively, for the period of 2017 to 2031, as PCB and sensors have greater use in electronic devices such as wearable devices, computers, and automotive electronics.
- In addition, based on industry, the consumer electronics segment of the 3D printed electronics market is set to expand at a CAGR of 31.58% from 2017 to 2031, due to increasing adoption of miniature devices as compared to telecom applications. 3D printed electronics are widely used in the automotive sector and expected to expand at the highest CAGR of 31.67% during the forecast period. Adoption of 3D printed electronics in the automotive sector is increasing as the technology allows electronic customization for automotive products. Moreover, increasing usage of electronic devices in automotive parts is fueling the growth of the 3D printed electronics market.
- In terms of revenue, the global 3D printed electronics market is estimated to reach US$ 6 Bn by 2031, expanding at a CAGR of ~31% during the forecast period
Advancements in Internet of Things Technology: A Key Driver
- Internet of Things technology has various applications in the areas of day-to-day life and industries. Technological developments in Internet of Things can be attributed to decline in prices of sensors and Internet connections. According to the World Economic Forum, the cost of sensors has declined two fold and bandwidth cost by multiple of 40.
- 3D printing allows manufacturers to produce sensors at low cost with complex geometries and accurate configurations. These sensors can be printed directly on the 3D surface and eliminates the need for circuitry. Therefore, the increasing need for customized and high performance sensors in various industries is fueling the growth of the 3D printed electronics market.
Rising Efficiency and Productivity of Manufacturers
- Electronic devices, which are manufactured with 3D printing machines, require lesser materials as compared to conventional manufacturing. 3D printers manufacture layer over layer as per the requirement, whereas in conventional manufacturing, the material is produced.
- Moreover, the conventional manufacturing process consists of lead time, while in 3D printing there is hardly any lead time between the final product and prototype. This reduces the time required for manufacturing the product. Furthermore, the design parameters can be modified and the manufacturing can be started immediately, which increases the operational efficiency as well as productivity. These factors are propelling the growth of the 3D printed electronics market.
3D Printed Electronics Market: Competition Landscape
- Detailed profiles of providers of 3D printed electronics have been given in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global 3D printed electronics market are
- Nano Dimension
- Eastprint Incorporated
- The Cubbison Company
- Molex, LLC
- The Charles Stark Draper Laboratory, Inc.
- ISORG SA
- Novacentrix
- Optomec, Inc.
- Enfucell
- Pasternack Enterprises Inc.
3D Printed Electronics Market: Key Developments
- Key providers of 3D printed electronics, such as Nano Dimension, The Cubbison Company, Molex, LLC, and Pasternack Enterprises Inc. are focusing on technological developments. Some other key developments in the global 3D printed electronics market are highlighted below:
- In July 2019, ISORG SA announced a partnership with Sumitomo Chemical to develop organic photodetectors. This partnership is the expansion of the existing collaboration since 2013. The company aims to provide materials and technology processing solutions to OEMs.
- In February 2018, Nano Dimension announced an online service, offering on-demand 3D printed electronics. This is expected to help the company gain competitive advantage to offer electronic designers and engineers access to develop smart electronic objects that cannot be created with the help of conventional manufacturing methods.
- In 2016, Hensoldt started working with Nano Dimension’s DragonFly 3D printing system to examine the possibilities of 3D printed electronics. The company successfully implemented the DragonFly Lights-Out Digital Manufacturing (LDM) printing technology, which is the industry’s only additive manufacturing platform for round-the-clock 3D printing.
- In the global 3D printed electronics market report, we have discussed individual strategies, followed by company profiles of providers of 3D printed electronics. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global 3D printed electronics market.
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