The global printed electronics market in terms of revenue was estimated to be worth USD 9.9 billion in 2021 and is poised to reach USD 23.0 billion by 2026, growing at a CAGR of 18.3% from 2023 to 2028. The new research study consists of an industry trend analysis of the market.
The key factors fueling the growth of this market include increased demand for printed electronic products in automotive & transportation, growth of the consumer electronics industry, increased adoption of IoT by end-use industries, and significant cost advantages offered by printed electronics.
Screen printing technology accounted for the largest share of the market in 2021
The growth of screen printing can be attributed to the increased use of screen printing for manufacturing displays and sensors. Screen printing is mostly used for manufacturing displays of commercialized devices such as smartphones and laptops.
It is also used to develop sensors and photovoltaic (PV) cells by enabling the precise printing of thin and thick lines on substrates. Moreover, Advanced techniques enable the integration of electronic printing in any material such as paper, nylon, cotton, plastic, and glass, creating affordable smart objects.
Inks material segment to register the highest CAGR during the forecast period
The inks segment is projected to grow at a higher CAGR during the forecast period.Printed electronics use metal-based inks to manufacture electronic components.
Printed electronic inks offer low-temperature capabilities and cost-effectiveness, significantly impacting product performance and manufacturing costs. Conductive inks are widely used for printing applications. The use of metals in conductive inks makes them best suited for printing electronic devices and components.
Technological innovations in conductive inks and their improved performance have driven demand for these inks globally. Additionally, there are more manufacturers of conductive inks than dielectric inks. Conductive inks, especially silver conductive inks, have been widely used in printed electronics.
Automotive & transportation end-use industry accounted for the largest share of the printed electronics market in 2021
The automotive & transportation end-use industry is expected to account for the largest share of the market in the next few years.
A wide variety of printed electronics such as displays, sensors, thin-film PV cells, and OLED lighting solutions are used in the automotive industry. Printed electronics also play a prominent part in the interiors of automobiles. For instance, conductive inks can be used in car seat heaters and window defoggers.
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The use of molded electronics enables automotive designers to incorporate various electronic features into their vehicles while reducing the complexity of electronic circuitry. The deployment of PV cells in vehicles helps improve fuel consumption and reduce carbon emissions. Organic solar cells can be integrated with vehicles for electricity generation and ensure the necessary ventilation on hot days.
Asia Pacific to register the highest CAGR during the forecast period
The APAC is projected to witness growth at the highest CAGR from 2021–2026. Market growth can be attributed to the rapid economic growth in major countries such as China, Japan, and South Korea.
Most R&D activities for new materials and devices are conducted in the APAC. The region is a mass producer of electronic devices. Moreover, several key market players such as Samsung Display (South Korea), LG Display Co., Ltd. (South Korea), and E Ink Holdings (Taiwan) mark their presence in this region. Furthermore, rapid urbanization & industrialization, the increased GDP of emerging markets, and political support to expand the manufacturing sector in developing countries in the APAC contribute to market growth.
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