July 20, 2024

Continuous technological advancements in Printed Electronics driving growth of Printed Electronics Market

The Global Printed Electronics Market is estimated to be valued at US$ 7114.14 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Printed electronics is a printing process that involves depositing functional inks made of semiconductive materials like organic materials or nanoparticles onto a variety of substrates such as paper, plastic, fabric, glass or metal. This printing method allows low-cost and large-area production of electronic components like displays, lighting, solar cells and sensors. Key advantages of printed electronics include design flexibility, light weight, ability to print on substrates like plastics or fabrics and cost-effective production through roll-to-roll processing. Printed electronics find applications in industries like consumer electronics, healthcare, transport, retail and various other industries.

Market key trends:

One of the major trends in the printed electronics market is the increasing miniaturization and flexibility of electronic components. Development of new printing techniques like inkjet and screen printing enables the fabrication of flexible and thin-film electronic circuits and devices. Another key trend is the development of advanced functional inks made from novel nanomaterials like carbon nanotubes, nanoparticles and quantum dots which further enhance the printed electronic components. Growing demand for flexible displays, wearable devices and Internet of Things (IoT) is also fueling the growth of printed electronics market. Moreover, printed sensors and electronic skins integrated with smart textiles are emerging as promising applications. Continuous R&D towards improving printing resolution and developing new types of printable semiconductors will expand the use of printed electronics in new domains in the coming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the printed electronics market is low as huge capital investment is required to establish printing infrastructure and technology. Bargaining power of buyers: The bargaining power of buyers is high as the market has several vendors providing similar products. Bargaining power of suppliers: The bargaining power of suppliers is moderate as technology providers have control over few critical components and materials. Threat of new substitutes: The threat of substitutes is moderate as alternative technologies like flexible displays are emerging but printed electronics provides several advantages over traditional electronics. Competitive rivalry: high due to presence of many regional and global players competing on basis of innovation, pricing, quality and reliability.

Key Takeaways

The Global Printed Electronics Market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period 2023 to 2030 due to increasing demand for wearable devices, flexible displays and smart labels & packaging materials.

The Asia Pacific region dominated the printed electronics market and is expected to continue its dominance during the forecast period. This is mainly attributed to growing demand from countries like China, India, Japan and South Korea. Countries in this region offer cost-effective manufacturing for printed electronics products.

Key players operating in the printed electronics market include Ensurge Micropower ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck, Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E-Ink Holdings Inc. and Molex.Inc. Companies are focusing on developing advanced printing technology and exploring new application areas of printed electronics. For instance, PARC, a Xerox company is working on printed electronic skin to enable human-device interactions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it