CAGR: 19.1%Current Market Size: USD 10.02 BillionFastest Growing Region: Europe
Largest Market: APACProjection Time: 2022-2029Base Year: 2021
The global printed electronics market is expected to grow from USD 10.02 billion in 2021 to USD 39.54 billion by 2029, at a CAGR of 19.1% during the Projection period 2022-2029. Upsurge in the adoption of IoT across the end-use industries along with the significant growth of the consumer electronics sector has primarily driven the growth of the global printed electronics market.
Printed electronics involves a process of using printing technology for the production of different types of electronic goods, including electronic circuits, sensors, displays, and RFID. It is the process of printing circuits on different flexible substrates to create electronic solutions. The various electronic printing techniques includes screen printing, rotogravure printing, vacuum evaporation, offset, roll-to-roll, flexographic, spin-coating, and inkjet printing.
Printed electrics is an innovative term in the global electronics sector with several benefits. For instance, it replaces bulky electronics components and makes the final product more innovative and thinner. In addition, it is easier to incorporate into various applications and components and offers advantageous features such as attractive and customizable design, Cost-effectiveness, and lightweight.
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Market Dynamics:
Drivers:
The demand for the latest consumer electronic devices has been trending for past years and is expected to grow substantially in the upcoming years. In addition, the growth of global economies has fueled demand for consumer electronics due to the increased disposable income of the population. However, the consumer electronics sector is looking for faster, lighter, thinner, and more flexible electronics solutions. Hence, the growth of the global consumer electronics sector boosts the growth of the printed electrics market.
The features, including security, flexibility, and cost-effectiveness, make printed electronics appealing to an extensive range of industries. In addition, printed electronics have the potential to reduce technical constraints and costs related to the mass production of electronics. Moreover, it facilitates wide-ranging development of non-conventional functional electronic devices such as flexible displays, active clothing, smart labels, and animated posters, among others. All of the factors mentioned above contribute to the global market growth.
Restraints:
Printed electronics offer low performance as compared with conventional electronics. In addition, the product life cycle of products manufactured by integration of printed electronics is short in comparison to long life cycle of products manufactured with the help of conventional electronics techniques. Such factors may hamper the growth of the printed electronics market to some extent.
Opportunities:
Emerging interest and inevitable move towards 5G technology created new material opportunities in the electronics sector for the printed electronics market. On the other hand, electric vehicle (EV) battery capacity significantly depends on temperature. Hence, there is a huge demand for printed arrays of temperature sensors to enable local monitoring. Therefore, the rising move toward more connectivity and weight reduction in autonomous vehicles and EVs opens lucrative growth opportunities for printed electronics.
Challenges
The global electronics manufacturing industry has become significantly competitive. This has made companies operating in the printed electronics industry compete for market share; however, the new entrants are continuously entering the market. Due to this competition, market players are under pressure to reduce the prices of electronics products impacting their margins and profitability. This is a prominent challenge in the global printed electronics market.
Segmentation Analysis:
The global printed electronics market has been segmented based on material, technology, applications, end-use industry, and regions.
By Material
The material offering segment includes ink and substrate. The inked segment led the printed electronics market with a market share of around 72.34% in 2021. Upsurge in the application of printed electronics across different industries has enabled the significant adoption of inks. In addition, the market players are introducing innovative inks for printed electronics applications, fueling the growth of the segment. For instance, in August 2020, Kunal Enterprise, the solution provider in Printing/ Packaging Industry in collaboration with Saralon GmbH introduced Saral, the brand name of innovative Ink for Printed Electronics.
By Technology
The technology segment includes inkjet printing, screen printing, flexographic printing, gravure printing, and others. The screen-printing technology segment led the Printed electronics market with a market share of around 53.1% in 2021. The durable outputs and high quality associated with the screen-printing technology is the major factor contributing to the growth of this segment. In addition, screen printing is compatible with an extensive range of material viscosities as compared with inkjet printing technologies. This advantage, among others, has further led to the rising preference for screen printing technology.
By End User Industry
The end-use industry segment includes automotive & transportation, healthcare, consumer electronics, aerospace & defense, construction & architecture, retail & packaging, and others. The consumer electronics segment led the Printed electronics market with a market share of around 32.4% in 2021. The rising shift among the consumers preference toward printed electronics in wearable devices. In addition, rising demand for improving the functionality and improved electrical performance of consumer electronics devices is projected to boost the growth of this segment.
Global Printed Electronics Market- By Regional Analysis:
The regions analyzed for the Printed Electronics market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia-Pacific region dominated the Printed electronics market and held the 40.76% share of the market revenue in 2021.
Global Printed Electronics Market- Country Analysis:
Germany printed electronics market size was valued at USD 1.10 billion in 2021 and is expected to reach USD 4.32 billion by 2029, at a CAGR of 19.0% from 2022 to 2029.
Germany is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. In Europe, Germany is the leading electronics market in production and sales. In addition, the country is recognized as the leader in research and innovation in microelectronics production. For instance, in November 2020, Merck KGaA officially launched its new Research Center for electronic applications at the headquarters in Darmstadt, Germany. The company has invested about $52.34 million in this research hub to further advance the innovation for the display and semiconductor sectors.
China printed electronics market size was valued at USD 2.10 billion in 2021 and is expected to reach USD 8.19 billion by 2029, at a CAGR of 18.9% from 2022 to 2029. China is the electronics manufacturing hub across the globe. In addition, the Chinese government is introducing innovative plans to expand its domestic electronics manufacturing sector. For instance, in January 2021, the Chinese government introduced expansion plans for the domestic electronic components market to $327 billion by 2023. Such plans are opportunistic for the growth of the China printed electronics market.
India's Printed electronics market size was valued at USD 0.78 billion in 2021 and is expected to reach USD 3.11 billion by 2029, at a CAGR of 19.2% from 2022 to 2029. In India, the electronics sector contributes about 3.4% of the country's Gross Domestic Product (GDP). On the other hand, in January 2022, the Ministry of Electronics and Information Technology and the India Cellular and Electronics Association (ICEA) released a five-year roadmap and vision for the electronics sector in the country. As per this roadmap, electronics manufacturing in the country is expected to reach $300 Billion by 2026. This huge market of electronics manufacturing is opportunistic for the growth of the Indian printed electronics market.
Key Industry Players Analysis:
To increase their market position in the global Printed electronics business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
19.1% |
Market Size |
10.02 billion in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
Material, Technology, Applications, End Use Industry, and Regions |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Samsung Electronics Co., Ltd., LG Display Co., Ltd., Molex, LLC, Agfa-Gevaert Group, Palo Alto Research Center Incorporated, DuPont de Nemours, Inc., Nissha Co., Ltd., BASF, NovaCentrix, and E Ink Holdings Inc. among others |
By Material
|
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By Technology
|
|
By Applications
|
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By End Use Industry
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Regional scope |
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Scope of the Report
Global Printed Electronics Market by Material:
Global Printed Electronics Market by Technology:
Global Printed Electronics Market by Applications:
Global Printed Electronics Market by End-Use Industry:
Global Printed Electronics Market by Region:
The global printed electronics market is expected to grow from USD 10.02 billion in 2021 to USD 39.54 billion by 2029, at a CAGR of 19.1% during the Projection period 2022-2029.
End-use industries are automotive & transportation, healthcare, consumer electronics, aerospace & defense, construction & architecture, retail & packaging, and others. The consumer electronics segment led the Printed electronics market with a market share of around 32.4% in 2021. The rising shift among the consumers preference toward printed electronics in wearable devices. In addition, rising demand for improving the functionality and improved electrical performance of consumer electronics devices is projected to boost the growth of this segment
Upsurge in the adoption of IoT across the end-use industries along with the significant growth of the consumer electronics sector is primarily driving the growth of the printed electronics market.
China is the electronics manufacturing hub across the globe. In addition, the Chinese government is introducing innovative plans to expand its domestic electronics manufacturing sector. For instance, in January 2021, the Chinese government introduced expansion plans for the domestic electronic components market to $327 billion by 2023. Such plans are opportunistic for the growth of the China printed electronics market
Leading market players active in the Samsung Electronics Co., Ltd., LG Display Co., Ltd., Molex, LLC, Agfa-Gevaert Group, Palo Alto Research Center Incorporated, DuPont de Nemours, Inc., Nissha Co., Ltd., BASF, NovaCentrix, and E Ink Holdings Inc. among others.
The global printed electronics market has been segmented based on material, technology, applications, end-use industry, and regions.
Political Factors- In India, the electronics sector contributes about 3.4% of the country's Gross Domestic Product (GDP). On the other hand, in January 2022, the Ministry of Electronics and Information Technology and the India Cellular and Electronics Association (ICEA) released a five-year roadmap and vision for the electronics sector in the country. As per this roadmap, electronics manufacturing in the country is expected to reach $300 Billion by 2026. This huge market of electronics manufacturing is opportunistic for the growth of the Indian printed electronics market.
Economic Factors- Germany is the leading electronics market in production and sales. In addition, the country is recognized as the leader in research and innovation in microelectronics production. For instance, in November 2020, Merck KGaA officially launched its new Research Center for electronic applications at the headquarters in Darmstadt, Germany. The company has invested about $52.34 million in this research hub to further advance the innovation for the display and semiconductor sectors. In January 2021, the Chinese government introduced expansion plans for the domestic electronic components market to $327 billion by 2023. Such plans are opportunistic for the growth of the China printed electronics market.
Social Factor- The Asia-Pacific region witnessed a major share. This is mainly attributed to the fact that the Asia-Pacific region has become a manufacturing hub for electronic components and devices. In addition, the countries such as China, India, Japan, and South Korea are seeing increased investments in the electronics sector along with the large-scale production of electronic components.
Technological Factors- Emerging interest and inevitable move towards 5G technology created new material opportunities in the electronics sector for the printed electronics market. On the other hand, electric vehicle (EV) battery capacity significantly depends on temperature. Hence, there is a huge demand for printed arrays of temperature sensors to enable local monitoring. Therefore, the rising move toward more connectivity and weight reduction in autonomous vehicles and EVs opens lucrative growth opportunities for printed electronics.
Environmental Factors- The polymers used for printing being organic it has minimal effect on the environment. New techniques still do not have an established method for replicating lab processes while experimenting on press. "Printed electronic manufacturers can overcome these issues by coating or encapsulating organic materials in a protective barrier to make them less vulnerable to environment hazards.
Legal Factors- In November 2021, DuPont acquired Rogers Corporation, an engineered materials and components provider. This acquisition has strengthened the advanced technology solutions offering DuPont competitive advantages. In April 2021, E Ink Holdings, the innovator of electronic ink technology, signed an agreement with DATA MODUL, the provider of the display, embedded, touch, monitor, and panel PC solutions. Through this agreement, the DATA MODUL is projected to become a reseller, focusing on the European and the U.S. markets.
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