Global Printed Electronics Market: Snapshot
Printed electronics is printing techniques used for the production of electrical devices on a different type of substrates. Numerous printing techniques such as screen printing, gravure, flexography, offset lithography, and inkjet printing is used for defining patterns for printing. Printing electronics devices make the printing easier on flexible materials such as cloth, plastic, paper, and others also on electrical components such as resistors, spools, condensers, and transistors. Printed electronics market is gaining traction by the increasing demand for smart labels, flexible displayers, and active clothing.
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The global printed electronics market is estimated to be benefited from the growing trend of minimal material consumption which helps to reduce the cost of printing. The demand for flexible electronics and at lowered cost is increasing. This demand is paving way for increased adoption of the printed electronic technology.
The report by TMR on the global printed electronics market observes that the market registered revenue of US$25.4 bn in 2015 and is expected to expand with a CAGR of 11.0% over the forecast period from 2016 and 2024 to attain the valuation of US$65.0 bn by the end of 2024.
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Rising Smartphone Users to Boost Uptake of Mobile Applications
On the basis of application, the printed electronics market is segmented into automotive, retail and packaging, electronics, and display among others. Of these, retail and packaging segment accounted for the dominant share in 2015 followed by automotive and electronics segment. This growth is attributable to the rising demand for smart packaging. The other factors which are likely to support growth are increasing demand for consumer goods, emerging retail sector, and some technological advancements. Additionally, this technology allows excellent printing quality on materials including acetate film, foil, plastic, and brown paper materials that are used for packaging. This factor is boosting the growth of the retail and packaging segment over the forecast period.
On the basis of technology, the printed electronics market is segmented into flexography, gravure printing, screen printing, and ink-jet printing among others. Of these, in 2015, the screen printing segment accounted for the largest share in the global printed electronics market. The extensive use of screen printing technology in numerous industries such as printed electronics, circuit board printing, thick film technology, displays, and product labels. The flexography segment is expected to gain momentum in upcoming years owing to its excellent printing quality on any substrates.
High Internet Penetration in North America to Boost Growth
On the basis of region, the global printed electronics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, Asia Pacific is expected to dominate the global market in terms of revenue followed by North America. The developing economies in the region such as India, Japan, and China are majorly contributing to growth. Additionally, technological advancements in the regions such as e-paper displays, electroluminescent displays, an organic light emitting diode (OLED).
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The global printed electronics market has highly fragmented competitive landscape. Some of the companies operating in the global printed electronics market are Thin Film Electronics ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Vorbeck Materials Corporation, Inc., Xerox Corporation, and E. I. du Pont de Nemours and Company.
The marrying of printing technologies with electronics has led to a few exciting technology disruptions. This is evident in the expanding application areas of flexible electronics. Advances made in printing processes, the advent of new ink chemistries, and new technology stacks being integrated all have paved way to new avenues in the printed electronics market. Interesting design innovations can be seen in a wide array of consumer and industrial electronics with flexible displays and sensors. The drive for new electronics with digital intelligence in the Covid-19 world is opening new potential applications of printed electronics. Their integration into smart devices are only the tip of the iceberg toward smart living. A case in point is the adoption of printed electronics to carve out new designs in smart building application.
Recent years have seen some incredible advancements in the printing technologies, opening up new vistas in printed electronics. A case in point is the rapid evolution of wearables. The advent of cutting-edge technologies in printing equipment will accelerate the growth momentum of the printed electronics market in the post- Covid world. Hardware developers in the electronics industry will come to appreciate new printing designs and paint chemistries. This will help players commercialize new technology stacks. On the other hand, industry standards for integrating printed electronics will have its own share of challenge, and therefore hidden revenue potential for market participants. The declining cost of flexible electronics will attract new customer base while consolidating the old ones. All these trends will help motivate incumbent players in the printed electronics market to put higher stakes. Nanotechnologies will spur new market potential, among numerous other new technologies shaping the next-generation printing processes and materials. Nano-inks are already showing vast promise in the way flexible electronics are integrated with connected objects. Further, new in-mobility applications will gain developmental momentum among automotive and aerospace industries. Internet of things is among some of the few exciting use cases likely to attract industry investments in the printed electronics market.
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