Printed Electronics Market to Surge Past US$ 22.3 Billion by 2025
The Global Printed Electronics Market was valued at US$ 3,345.0 million in 2015 and is projected to expand at a CAGR of 21.3% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Growing demand for smart devices and displays is one of the major driving factors for the market. Continuous technological advancement in the field of electronic components that use printed electronics in turn is having a positive impact on the market for printed electronics globally.
The demand for printed electronics is anticipated to surge over the forecast period as growing demand for printed batteries and printed antennas is one of the key reasons behind the growth of printed electronics globally. Printed electronics are required for the mass production of tags, color e-papers and smart labels which is another prime factor fueling the market. Smart touch devices and displays are anticipated to contribute in the positive growth of the printed electronics market over the forecast period. Easy production and integration, low cost along with flexible form factor are some of the major advantages of printed electronics which is contributing in the positive growth of the market.
The growth in the revenue of the global printed electronics market is also attributable to growing application of the printed sensors and batteries in various industries. Increasing application of printed batteries in different medical devices is also considered as one of the drivers for the market. Medical sensors and diagnostic devices are some of the prime application areas of the printed electronics. Wireless sensors, smart cards, portable electronic devices are core application areas for the printed electronics globally, which is anticipated to boost the growth of the market over the forecast period.
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Smart labels is one of the key application areas of printed electronics. Printed electronics allows for rapid replacement of conventional labels with smart labels. Moreover, flexible displays are also one of the core end uses of printed electronics. Flexible display primarily provides offers advantages such as light weight, ultra-thin, bendable, shatter-proof energy efficient, portable and unbreakable. Increasing application of printed electronics in memory or logic, different sensors is one of the major growth driving factors for the market. Rising demand in Internet of Things (IoT) applications and significant cost advantages provided by the printed electronics products is boosting the growth of the printed electronics market. In addition, development of portable and miniaturized electronic devices are also increasing adoption of printed electronics in different industries globally. Research and development activities in the field of printed electronic materials is also anticipated to drive the market in near future.
Large numbers of printed electronics and equipment manufacturers are focusing on product innovation in order to capture the untapped market in the emerging economies globally. Technological complexities and issues with electricity conductivity with some substrates or materials may inhibit the growth of the market. However, increasing application of printing technologies in the memory, logic, energy storage devices, mobile chips and printed circuit boards are expected to act as a major drivers for the market over the forecast period.
Key takeaways of the Printed Electronics Market:The global printed electronics market is estimated to increase at a CAGR of 21.3% over the forecast period (2017–2025) as there exists major demand in the global market, especially in Asia Pacific and North America
Among materials, substrates segment dominates the market, owing to its application in printed batteries and sensors. Screen printing is the largest technology segment in the printed electronics market, as it is primarily used in various electronic portable devices.
Displays is the leading application segment in the printed electronics market, owing to growing demand for smart devices and touch displays
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Some of the major players involved in global printed electronics market are T+ink, Inc., NovaCentrix, Optomec Inc., E. I. du Pont de Nemours and Company, Thin Film Electronics ASA, Xerox Corporation, Vorbeck Materials Corporation, Inc, LEONHARD KURZ Stiftung &Co. KG, Intrinsiq Materials, Inc., Agfa-Gevaert N.V., BASF SE, Samsung Electronics Co., Ltd., and E Ink Holdings Inc.
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