Printed Electronics Market-Providing Continuous Flexibility and Fabrication of Electronic Devices
Printed electronics is a set of printing techniques applied to produce electrical devices on different substrates. Screen printing, gravure, flexography, offset lithography, and inkjet printing are some of the major printing techniques used for defining patterns on substrates or materials. The printed electronics market is expected to gain steady growth in the foreseeable future, due to the commercialization of printed devices in various industries such as healthcare, automotive, consumer electronics, and media. Increasing proliferation of smart displays and touch devices is also contributing towards positive growth of the market.
Medical sensors and diagnostic devices are some of the prime application areas of the printed electronics. Increasing application of printed batteries in different medical devices is also considered as one of the drivers for the market. Adoption of printed batteries as they are stretchable, rechargeable and flexible is another major ongoing trend in the printed electronics market. Growing application of printing technologies in memory, logic energy storage devices, mobile chips and printed circuit boards is expected to act as a major driver for the market over the forecast period.
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The global printed electronics market is estimated to be valued at US$ 4,771.9 million in 2017 and is expected to witness a CAGR of 21.3% during the forecast period (2017 – 2025).
The growing application of flexible and touch displays drives growth of printed electronics market
Printed materials for smart fabrics as well as wearable electronics, which includes, communication, health monitoring, and OLED displays is another major driver for the market. Light weight, ultra-thin, bendable, shatter-proof energy efficient and portability are some of the major attributes of the flexible displays. Growing usage of printed electronics in memory or logic and in different sensors is one of the major growth driving factors for the market.
Also, development of portable and miniaturized electronic devices is also increasing adoption of printed electronics in different industries globally. The market in Asia Pacific is expected to gain major traction over the forecast period, mainly due to increasing application of printed electronics in different industries in China and Japan. However, technological complexities and issues with electricity conductivity with some substrates or materials may inhibit the growth of the market. However, growing application of printing technologies in the energy storage devices, photovoltaic cells are expected to act as a major drivers for the market over the forecast period.
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Growing application of OLED displays and smart labels is a prominent factor to fuel growth of the printed electronics market
Increasing adoption of printed electronics in the photovoltaic cells in order to convert solar energy into electricity along with growing application of conductive inks are some of the prime driving factors for the market. Printed electronics increases the electronic functionality of substrates than conventional rigid electronic fabrication techniques. While conventional electronics are used in packaging and print, integrating large-scale printable electronics primarily offers lightweight and thin electronics using high-volume manufacturing processes in cost effective way. Product innovation through research is one of prime strategies adopted by the key players operating in the printed electronics market to strengthen their positions globally.
Growing application of printed sensors, batteries and other portable devices are anticipated to fuel the market for printed electronics over the forecast period globally. Moreover, growing usage of printed electronic devices in the healthcare industry is also contributing in the positive development of the market. Asia Pacific is leading the market for printed electronics, followed by North America due to increasing demand for the smart devices and displays. Owing to rapid progression of electronic products which includes RFID, membrane switches, electronic labels and printed displays are anticipated to contribute in the positive development of the market over the forecast period.
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