With an estimated value of $35.7 billion in 2019, the global printed electronics market is projected to reach $363.1 billion by 2030, progressing at a CAGR of 22.4% during the forecast period (2020–2030). Between the two components, printer is estimated to hold the larger share in the market in 2019. This can be attributed to the rising demand for screen and inkjet printers for display and photovoltaic (PV) applications in various countries, including the U.S., Germany, the U.A.E., China, and Brazil.
Shift from Conventional to Digital Printing
One of the key trends observed in the printed electronics market is the shift from conventional printing to digital printing. Digital printing has gained traction in recent years, on account of the growing environmental concerns. Conventional printing involves the use of volatile organic compound-based products, such as aerosol sprays and paint strippers, along with heavy metals, such as lead, cadmium, mercury, and chromium, which pollute the soil and water when they reach landfills, thus adversely impacting the environment.
On the contrary, digital printing involves the use of mild solvents and less-harmful chemicals than those used in conventional printing technologies, such as offset printing and solid ink printing. Thus, with the increasing focus on green printing and cost-effective production, the demand for digital printing solutions is growing in the printed electronics market.
Rigid Electronic Products Impacting the Market Growth
The extensive use of rigid electronic products in various applications continues to hinder the growth of the printed electronics market, globally. Consumer electronics, such as flat-screen TVs, laptops, and audio keyboards, and various other electronic gadgets generally come integrated with rigid printed circuit boards (PCBs) instead of flexible PCBs. Thus, the large-scale use of rigid electronic products affects the demand for flexible circuits, which, in turn, limits the market growth.
Segmentation Analysis of Printed Electronics Market
Geographical Analysis of Printed Electronics Market
Geographically, the market is expected to register the highest growth rate in APAC during the forecast period. The APAC printed electronics market would be driven by the growing demand for consumer electronics in countries such as China, India, Japan, South Korea, and Australia. Since the printed electronics technology is increasingly being employed in the manufacturing of flexible consumer electronics, including wearable devices, the increased adoption of these electronics is expected to support the growth of the printed electronics industry in the region.
Browse report overview with detailed TOC on "Printed Electronics Market Research Report: By Component (Printer, Material), Application (Display, Photovoltaics, Lighting, Sensors, RFID Tags, Batteries), End User (Automotive & Transportation, Consumer Electronics, Healthcare, Retail & Packaging, Aerospace & Defense, Construction & Architecture) - Global Industry Trends Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/printed-electronics-market
Competitive Landscape of Printed Electronics Market
The global printed electronics market is highly competitive in nature, characterized by the presence of a large number of global and regional players. Major players in the market, including E Ink Holdings Inc. and Ynvisible Interactive Inc., are focusing on mergers and acquisitions and partnerships to increase their footprint. For instance, in August 2019, Ynvisible Interactive Inc. acquired Consensum Production AB, a contract manufacturer of printed electronics and hybrid systems, to become one of the leading providers of electrochromic printed display solutions for high-volume applications in the market.
Some of the other key players operating in the printed electronics market are Thin Film Electronics ASA, Nissha Co. Ltd., Xerox Corporation, Agfa-Gevaert N.V., DuPont de Nemours Inc., Molex LLC, NovaCentrix Corp., and BASF SE.
Printed Electronics Market Segmentation
Market Segmentation by Component
Market Segmentation by Application
Market Segmentation by End User
Market Segmentation by Geography