New York , March 21, 2024 (GLOBE NEWSWIRE) -- The global conductive inks market size is predicted to grow at a CAGR of over 5% from 2024 to 2036. The market is projected to garner a revenue of USD 6 billion by the end of 2036, up from a revenue of USD 3 billion in the year 2023. It is anticipated that demand for solar energy will keep growing driven by the incentives from the government, and tax breaks on solar panel installation. The globe is steadily moving toward renewable energy sources, and one of the most well-liked options for producing sustainable and clean electricity is solar panels, which are solar energy conversion devices composed of many solar cells that gather solar radiation and transform it into DC (direct current) electricity.
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This has led to an increase in demand for a type of conductive ink called solar ink that was created specifically to get over all of the obstacles that both new and old PV systems now face, which also has the potential to be extremely versatile as it can print solar cells onto a variety of substrates, including paper, plastic, and cloth.
According to the International Energy Agency, in 2022, solar PV generation reached about 1 300 TWh, a record 270 TWh (up 26%).
Conductive Inks Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- Conductive silver ink segment to garner the highest growth
- Market in North America to grow at a significant rate
Growing Consumer Electronics Industry to Boost Market Growth
It is anticipated that the consumer electronics business will increase owing to a rise in disposable incomes, digitalization, and initiatives by governmental and private sector programs to improve the infrastructure of the digital world. For instance, it is anticipated that the global consumer electronics market will expand by more than 2% between 2024 and 2028, reaching a market size of around USD 1176 billion by that year.
This is expected to result in increasing demand for printed circuit boards (PCBs) leading to a higher need for conductive inks since the majority of electronics are built using PCBs, which are the boards at their core and are an essential component of many different industries' electronics that we utilize daily. PCBs are widely used in electronics nowadays, and they come in a variety of forms and are composed of a non-conductive substance and feature copper sheet etchings for lines, pads, and other characteristics that electrically link the electronic parts of a product. Carbon ink PCB, also known as carbon conductive PCB conductive ink for PCB design is an ink that has conductive materials such as copper, silver, or gold mixed into it, which aids in creating a strong and durable electrical interface and keeps its characteristics including resistance, form, and conductivity even after the PCB reflows during assembly.
Conductive Inks Industry: Regional Overview
The global conductive inks market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Burden of Diabetes to Drive the Growth in the Asia Pacific Region
The conductive inks market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2036. The growth can be attributed to the growing burden of diabetes in the region. The second largest population of diabetics worldwide is in India since over 90 million people in the country have diabetes, either diagnosed or undiagnosed, and throughout the next 20 years, this number is predicted to triple. Moreover, India is regarded as the global "diabetes capital" owing to the rising rate of overweight and obesity as well as bad lifestyle choices. For instance, the amount of diabetes in India is expected to rise from around 74 million in 2021 to more than 124 million by 20454.
This has led to an increase in demand for conductive inks in the region as it is used to pattern commercial diabetes test strips that function as the primary component of the glucose sensing system, thereby impacting the health of the patient.
Growing Personal Disposable Income to Drive Growth in the North American Region
The North American conductive inks market is estimated to garner the largest revenue by the end of 2036. The growth can be attributed to the growing personal disposable income in the region. Consumers who have more disposable income are more likely to buy technological products such as tablets, which may create a huge demand for conductive inks in the area. For instance, the United States' disposable personal income rose by more than 0.1% in January 2024 compared to the same month the previous year. In addition, the automobile market in the United States is among the biggest worldwide, which has substantially changed society by becoming a major contributor to the U.S. economy and by making personal mobility more accessible and inexpensive. Particularly, the US automotive industry was projected to be valued at USD 1514 billion in 2022.
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Conductive Inks Segmentation by Product
- Conductive Silver Ink
- Conductive Copper Ink
- Conductive Polymers
- Carbon Nanotube Ink
- Dielectric Inks
- Carbon/Graphene Ink
The conductive silver ink segment in conductive inks market is anticipated to hold the largest revenue by the end of 2036. The growth is expected to be influenced by the growing production of printed circuit boards (PCBs). The printed circuit board (PCB) business grew quickly as a result of encouraging government efforts, an increasing demand for electronic devices, technological advancements, and rising investments in digitization. For instance, more than 620 million square feet of printed circuit boards were produced in Taiwan in 2022. This has led to an increasing need for conductive silver inks which are often used for PCB design since they offer unmatched performance advantages such as excellent conductivity.
Conductive Inks Segmentation by Application
- Photovoltaic
- Membrane Switches
- Displays
- Automotive
- Smart Packaging
- Biosensors
- Printed Circuit Boards
The photovoltaic segment in conductive inks market is anticipated to hold the largest revenue by the end of 2036. The growth is driven by the growing demand for solar photovoltaics. Solar PV is one of the most economical technologies for producing power the demand for which is being driven by factors such as population increase, urbanization, and economic development. For instance, global solar PV consumption is anticipated to reach over 125 gigawatts in 2024. As a result, the demand for conductive inks may significantly rise as many industries employ conductive inks, including the photovoltaic industry since they offer printed conducting tracks with incredibly low resistance, which is crucial for the photovoltaic.
A few of the well-known market leaders in the global conductive inks market that are profiled by Research Nester are Applied Nanotech Holdings, Inc., Sun Chemical Corporation, PPG Industries, Inc., Creative Materials, Inc., Poly-Ink, Henkel Ag & Co. KgaA, PChem Associates, Inc., Johnson Matthey Colour Technologies, Fujikura Ltd., Heraeus Holding, and other key market players.
Recent Development in the Market
- DuPont announced the launch of MCM’s 5881 conductive ink, a new silver/silver chloride (Ag/AgCl) conductive ink/paste that will allow manufacturers to make products with a high rate of electrical feedback, and can help patients receive accurate health information and meet the increasing needs of patients and medical professionals who use these devices daily.
- Creative Materials, Inc. introduced economical gold conductive ink, coating, and adhesive, CMI’s 128-24 for printing on non-oxidizing gold electrodes.
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