July 21, 2024

The Rising Demand For Flexible And Wearable Electronics Is Anticipated To Open Up The New Avenue For Printed Electronics Market

The Printed Electronics Market is estimated to be valued at Us$ 7114.14 Mn or 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 refers to electronics manufactured through printing processes on flexible and non-flexible substrates, including plastics, fabrics, ceramics, and paper. Printed electronics technologies are used to manufacture electronic devices such as displays, thin-film photovoltaics, radio frequency identification (RFID) tags, organic light-emitting diodes (OLEDs), organic semiconductor devices (OSCs), and electronic circuits. These technologies involve printing of conductors, semiconductors and various functional materials like enzymes, DNA and nanoparticles on various substrates.

Market Dynamics:

Printed electronics market growth is driven by advantages offered by printed electronics technologies over conventional technologies. The printing processes enable fabrication of flexible and low-cost electronic devices. This has increased the adoption of printed electronics across various end-use industries like consumer electronics, healthcare, automotive, and retail, among others. For instance, printed electronics are being widely used for wearable devices, flexible displays and biosensors.

Another key driver for the printed electronics market is growing investment in R&D activities by various players for development of advanced printed electronic products. Large investments are being made for commercialization of printed electronic technologies. For example, companies are developing printed transistors, photovoltaics and battery technologies to enable next generation flexible and printed electronic products. This is supporting market growth.

 

Segment Analysis

The printed electronics market can be segmented into display, photovoltaic, lighting/LED, RFID, batteries, sensors and memories. The display segment is currently dominating and is expected to continue its dominance over the forecast period owing to increasing demand for OLED and printed flexible displays in consumer electronics like smartphones, TVs and other devices.

PEST Analysis

Political: Government initiatives and funding to support research in printed electronics will promote growth. Economic: Growing electronics industry leading to new applications and products will drive demand. Social: Increasing adoption of wearables, smartphones and e-clothing will boost market. Technological: Advancements in printing technologies like inkjet printing and developments in new functional inks will support market growth.

Key Takeaways

The Global Printed Electronics Market Demand  is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period 2023 to 2030, due to increasing miniaturization of electronic devices. North America is expected to be the fastest growing regional market over the forecast period owing to growing research & development activities in the region.

Key players operating in the Printed Electronics market are 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., Molex.Inc, PARC, a Xerox company. The key players are focusing on new product launches to strengthen their market position.

The global Printed Electronics Market size for 2023 is estimated to be US$ 7114.14 Mn. Asia Pacific is currently the dominating regional market due to presence of key manufacturers. Key printed electronics application areas driving growth include displays, sensors, batteries and photovoltaics.

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