Wilmington, Delaware, United States, March 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global printed electronics market size stood at US$ 12.25 Bn in 2021 and is likely reach US$ 45.08 Bn by 2031. The global industry is projected to expand at a CAGR of 14.2% between 2022 and 2031. Firms in the global printed electronics market are concentrating on rapidly growing end-use industries such as electronics and automotive in order to maintain their growth momentum following the COVID-19 outbreak.
The market is anticipated to grow at a notable rate due to the multiple benefits provided by printed electronics, including reduced product cost, and simple manufacturing procedure. It also facilitates development of innovative functional electronic devices.
Companies are concentrating on recent developments in the electronics industry, including miniaturization, organic electronics, and advanced materials. They are expected to take advantage of new prospects in electronics products in order to diversify their sources of income.
Printed electronics, a universal printing technique is utilized to create electrical devices by printing them on a variety of surfaces. It is used to create electrical devices by printing them on a wide range of substrates. Plastic or organic electronics employing one or more carbon-based inks were initially linked to printed electronics.
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The market demand for wearable electronics and smaller electronics is growing, which is expected to drive usage of printed electronics to make antennas, electronic skin patches, flexible keyboards, and other products.
Printed electronics is a technology that is now expanding quickly and finding application in a wide range of industries including transportation, media, aerospace, and healthcare. Increase in use of printed electronics technology for numerous uses, including interactive books and posters, creative packaging and labels, and flexible displays is set to drive the global market.
Key Findings of Market Report
- In 2021, based on material, the inks segment led the global industry with a share of 58.5%. Printed materials that conduct electricity are produced using conductive inks. As a result, it is feasible to produce conductive traces utilizing conductive inks, which is more cost-effective, as opposed to copper plating, Flexible printed electronic circuits are printed on a wide range of surfaces using conductive ink to increase communication or data storage capabilities. Conductive ink is extensively utilized to print flexible printed electronic circuits, which is expected to propel the global market.
- Based on technology, the screen printing segment held a sizable market share accounting for 59.5% in 2021. Screen printing is a very common print technique in the printed electronics industry since screen printing inks and techniques are established and trustworthy. Printers could use screen printing to meet customer demand for more volume, quicker printing, and longer runs. As such, steadily increasing demand for screen printing technology to produce printed electronics is anticipated to drive the segment.
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Global Printed Electronics Market: Growth Drivers
- Printable electronics offer access to flexible devices that were previously unthinkable. The fact that printed electronics are more affordable than other printing techniques is a crucial factor driving their demand. Moreover, printed electronics are versatile and reasonably priced, which appeals to different industries.
- Increase in demand for mobile device design and large-screen display in both developing and developed countries is likely to drive the global printed electronics market. Besides, increase in investment in the development of advanced printing materials is expected to drive the global market.
- Utilization of printed electronics is expanding in the automobile industry. Printed sensors and heating components have proven to be useful in vehicle seats over the past few years. They monitor if a seat is occupied and activate the heating system as required. Other recent applications include electrochromic dimming mirrors, deicing windows, and glass roof components.
- Smart packaging is projected to rapidly become the new benchmark for point-of-sale packaging solutions in both packaging and retail industries due to rapid growth of printed electronics. Packaging and automotive industries are stoking market demand for printed electronics as a result of favorable government laws encouraging use of cutting-edge technologies.
Global Printed Electronics Market: Regional Landscape
- Based on region, Asia Pacific accounted for 44.6% share of the global market in 2021. Use of printed electronics in Asia Pacific is attributed to its high market demand in packaging and retail industries. In 2021, China held a sizable portion of the market in Asia Pacific.
- Major markets for printed electronics include Europe and North America, which held shares of 21.3% and 28% respectively in 2021. Rise in usage of printed electronics in solar cell and automotive applications is anticipated to drive business opportunities in the global industry.
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Global Printed Electronics Market: Key Players
Some of the key players in the global printed electronics market include:
- Brückner Maschinenbau GmbH & Co. KG
- Witte Technology GmbH
- Cicor Management AG
- Nissha Co., Ltd.
- Komura-Tech Co., Ltd
- Optomec, Inc.
- Henkel Group
Global Printed Electronics Market: Segmentation
Material
- Substrates
- Inorganic Materials
- Inks
Technology
- Flexography
- Ink-jet Printing
- Screen Printing
- Offset Printing
- Others
Application
- Sensors & Switches
- Displays
- Medical Wearables
- Photovoltaic Cell
- Antennas
- Heaters
- In-Mold Electronics
- Others
Industry Vertical
- Automotive and Transportation
- Consumer Electronics
- Healthcare
- Aerospace & Defense
- Industrial
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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