Global Printed Electronics Market is Poised to Reach a Valuation of USD 62.57 Billion by 2032: Astute Analytica
The global printed electronics market is growing rapidly, fueled by demand for flexible displays, sensors, and smart packaging. Top players invest heavily in R&D, drive innovation, and form strategic partnerships. While the market exhibits some concentration, opportunities remain for new entrants seeking disruptive applications.
New Delhi, March 27, 2024 (GLOBE NEWSWIRE) -- According to the latest research by Astute Analytica, the global printed electronics market is projected to reach US$ 62.57 billion by 2032, up from US$ 13.58 billion in 2023, at a CAGR of 18.5% during the forecast period 2024–2032.
Printed electronics hold a significant advantage over conventional electronics manufacturing in terms of cost-effectiveness. For instance, printing an RFID antenna using inkjet printing offers a cost reduction of approximately 20-30% compared to traditional etching methods. Additionally, printed electronics pave the way for the production of highly efficient, low-power electronic products. Printed organic photovoltaic (OPV) cells can achieve impressive power conversion efficiencies exceeding 17% while maintaining lower manufacturing costs than their silicon solar cell counterparts.
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One of the most exciting aspects of printed electronics market is the ability to create thin, flexible, lightweight, and affordable electronic products. The Royole RoWrite Smart Writing Pad exemplifies this with its ultra-thin 0.19 mm flexible tablet design capable of digitizing handwritten notes. The demand for flexible and stretchable electronics is booming, as evidenced by devices like foldable displays and wearables. Samsung's Galaxy Z Fold3 5G smartphone, featuring a flexible OLED display, achieved a remarkable 5-fold increase in sales during its launch month compared to its predecessor. These unique characteristics of flexibility and compactness are fueling the adoption of printed electronics technologies like inkjet printing.
Printed electronics market is witnessing a significant growth in several key industries and applications. Wherein, the automotive sector is anticipated to see a surge in the market for printed and flexible sensors and display, reaching $17.9 billion by 2031 for applications such as seat occupancy, braking, screen, and battery monitoring. In consumer electronics, the global market for flexible displays is forecast to grow from $13.6 billion in 2023 to $65 billion by 2029, spurred by the popularity of smartphones, smartwatches, and TVs. Healthcare is another burgeoning area for printed and flexible sensors, with applications like continuous glucose monitoring devices. The FreeStyle Libre system serves a global user base of over 4 million. Printed RFID tags in the packaging industry also hold promise. Avery Dennison's RFID division, a major supplier for apparel brands, experienced a significant sales growth of 20% in Q2 2022.
*Key Findings in Global Printed Electronics Market *
Market Forecast (2032) US$ 62.57 Billion
CAGR 18.5%
Largest Region (2023) Asia Pacific (47.82%)
By Component Ink (56.4%)
By Printing Technique Contact Printing (60.8%)
By Application Display (34.6%)
By Industry Automotive (29.9%)
Top Trends · Growth in the Use of Advanced Material
Top Drivers · Demand for flexible, wearable, and novel form factor electronics
· Cost and manufacturing advantages over conventional electronics for certain applications
· Increasing investment and commercialization by major corporations
Top Challenges · Demand for flexible, wearable, and novel form factor electronics
· Cost and manufacturing advantages over conventional electronics for certain applications
· Increasing investment and commercialization by major corporations
*Printed Electronics Market Application: Reshaping Displays with Flexibility and Affordability, Controls over 34% Revenue*
Displays represent the most significant application area within the printed electronics market. This segment accounted for the largest share (over 34.6%) of global market revenue and is forecasted to continue its dominance in the years ahead. The increasing use of printed electronics in consumer electronics, particularly for thin and flexible displays, underpins this growth. Rising demand for advanced OLED displays is particularly fueling the adoption of printed electronics due to its advantages of low production cost, higher efficiency, and low power consumption
In 2023, alongside displays, photovoltaic devices also held a substantial share of the printed electronics market. This trend is largely influenced by their growing applications within industries like packaging. Large area printed displays are finding innovative use cases, exemplified by the world's largest digital non-emissive display (40 ft long, 5 ft wide) being constructed by the Kraft Group for a new sports exhibit hall. Furthermore, the development of simple, inexpensive printed displays is considered a key enabler for enhancing information transfer and interactivity in applications across newspapers, magazines, and packaging. These advancements highlight the potential of printed electronics to revolutionize how we interact with information in everyday items.
*Contact Printing Gaining Strong Foothold in the Printing Electronics Market, Capturing More Than 60.8% Market Share*
Contact printing methods, including screen printing, flexography, and gravure printing, continue to solidify their position as the backbone of the printed electronics market, boasting a dominant market share of over 60.8%. This trend showcases the crucial role contact printing plays in driving the industry's growth, and investors or businesses looking to enter this space must understand the significance of this technology.
Why the dominance? Contact printing's value proposition lies in its potent blend of high-volume scalability, cost-effectiveness, and flexibility. These techniques offer rapid printing speeds essential for mass production, as well as a simplicity that reduces operational costs – particularly vital in a price-sensitive market like printed electronics. Furthermore, contact printing's compatibility with flexible substrates unlocks the potential for creating innovative wearable devices, smart packaging, and a myriad of other applications unachievable with traditional electronics.
While limitations exist, continued advancements in ink formulations, printing techniques, and post-processing are steadily overcoming these hurdles. For industry players, this translates to a technology landscape with significant growth potential. Wherein, understanding the nuances of contact printing applications, emerging optimizations, and its evolving role in the printed electronics ecosystem is crucial for making informed investment and strategic decisions.
*Asia Pacific: Electronics Giant on the Rise, Eyes Cutting-Edge Printed Technologies, Controls More Share than North America and Europe Collectively *
Asia Pacific stands as a titan in the global printed electronics market, with market share of over 47%. East and Southeast Asia, in particular, serve as central hubs for electronics manufacturing and trade, with a strong focus on semiconductors. This massive production base and integration into global value chains solidify the region's position. However, within the specialized realm of printed electronics, North America and Europe currently hold an edge in specific areas like the adoption of advanced 3D printing techniques.
Despite a slightly slower start, Asia Pacific is rapidly becoming a major force in the printed electronics market. The region boasts the fastest-growing market for plastics within consumer electronics manufacturing, demonstrating its vast electronics production capabilities. Additionally, increasing investments in printed electronics research throughout Asia Pacific are stimulating demand from various sectors. These factors, coupled with the region's existing manufacturing prowess, indicate that Asia Pacific is poised to contribute significantly to the global market revenue in the near future.
While North America and Europe may currently lead in the adoption of some cutting-edge printed electronics technologies, Asia Pacific is a formidable contender.
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*Top 6 players Holds More than 32% Revenue share of Global Printed Electronic Market *
The printed electronics market exhibits a fairly concentrated structure, with the top 6 players – E Ink Holdings, Applied Materials, BASF, DuPont, Henkel, and Agfa-Gevaert – collectively capturing over 32% of the market share in 2023. This indicates that while the leading players wield significant influence, the market still offers opportunities for other companies to establish themselves. The top players demonstrate a strong commitment to technological leadership, investing heavily in research and development to propel the evolution of printed electronics.
E Ink stands out as the pioneer of ePaper technology, continually innovating with offerings like color ePaper displays. DuPont holds a prominent position as a leader in printed electronics materials, with their conductive inks and pastes facilitating advancements in smart textiles and in-mold electronics. BASF focuses on developing next-generation organic semiconductors and other functional materials to boost the performance of printed electronics.
These leading companies in the printed electronics market have established a broad footprint across various end-use markets. Applied Materials provides manufacturing equipment for diverse applications within displays, solar cells, and flexible electronics. Henkel's conductive inks and materials have found use in printed sensors, smart packaging, in-mold electronics, and wearables. Agfa specializes in supplying materials and equipment for photovoltaics, displays, and printed circuit boards. To accelerate innovation and commercialize new printed electronics solutions, the top players engage in strategic partnerships and joint ventures.
DuPont collaborates with equipment manufacturers to streamline production processes, and BASF establishes joint development agreements with integrators and end-users for collaborative innovation. Several notable mergers and acquisitions have occurred within the printed electronics market, including E Ink's acquisitions of SiPix to extend its technology offerings, later being acquired by Prime View International itself. Additionally, Applied Materials has acquired companies like Varian to bolster its printed electronics equipment capabilities.
*Global Printed Electronics Market Key Players*
· Agfa-Gevaert N.V.
· Applied Materials, Inc.
· BASF SE
· Brewer Science, Inc.
· DuPont de Nemours, Inc.,
· E Ink Holdings Inc.
· Ensurge Micropower ASA
· Henkel
· Molex LLC
· Nissha Co., Ltd.
· NovaCentrix
· PRINTED ELECTRONICS LTD
· Xeikon N.V.
· Other Prominent Players
*Key Segmentation:*
*By Component*
· *Ink*
· Dielectric Inks
· PTC Ink
· Conductive Inks
· Resistive Inks
· Electrode Inks
· Others
· *Substrate*
· Dielectric Substrates
· PET (Polyester)
· Polyimide
· Fabrics and Paper
· Stretchable Substrates
· Printed Circuit Boards
· Others
· *Services*
· *Professional Services*
· Designing
· Prototyping
· Manufacturing
· *Support Services*
*By Printing Technique*
· *Contact Printing*
· Gravure Printing
· Offset Printing
· Flexography
· Screen Printing
· Pad Printing
· *Non-Contact Printing*
· Inkjet Printing
· Aerosol Printing
*By Application*
· Radio Frequency (RF) Components
· Display
· Thin Film Transistors
· Sensors
· Others
*By Industry*
· Healthcare & Pharmaceutical
· Consumer Electronics
· Automotive
· Smart Building & Construction
· Food & Beverages
· Cosmetics & Personal Care
· Others
*By Region*
· North America
· Europe
· Asia Pacific
· South America
· Middle East & Africa (MEA)
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*About Astute Analytica*
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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CONTACT: Vipin Singh
BSI Business Park, H-15,Sector-63, Noida- 201301- India
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
Email: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/