The Global Printed Electronics Market is estimated to be valued at US$ 7114.14 Mn or Bn 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 is emerging as an innovative technology that utilizes materials and processes for production of electronic devices through printing techniques. Printed electronics offer advantages such as low material wastage, cost-effectiveness and roll to roll fabrication which makes it suitable for large area flexible and economic electronics.
Market key trends:
One of the key trends in printed electronics market is growing adoption of organic electronics. Organic electronics avoid the use of rare and expensive materials such as indium and rely on carbon-based materials which are cheap and abundantly available. This is expected to reduce the production costs and facilitate easy manufacturing of electronic devices through printing. Furthermore, advancements in printing technologies such as inkjet and gravure printing allowing high-resolution printing is also expected to contribute to the growth of printed electronics market during the forecast period.
Market key trends:
One of the key trends in the printed electronics market is the development of printed smart packaging. Printed electronics technology helps provide smart capabilities to food and beverage packaging such as time-temperature indicators, container health monitors, and interactive graphics. This enhances product safety, integrity, and the overall customer experience. Additionally, increasing demand for wearable devices is expected to boost the printed electronics market. Devices such as smart watches, fitness bands, and smart glasses utilize printed electronics components like sensors, batteries, and displays to offer connectivity and tracking features.
SWOT Analysis
Strengths: Printed electronics offer advantages such as low material wastage, design flexibility, and lightweight properties. Several industries are leveraging these strengths by integrating printed smart components into their products.
Weaknesses: High costs involved in setting up printing technology and R&D efforts. Dependence on hybrid manufacturing methods.
Opportunities: Growing demand for Internet of Things devices presents opportunities for using printed sensors, memory modules, and other components. Sectors like healthcare, automotive and logistics can benefit immensely from printed electronics applications.
Threats: Availability of alternative technologies like embedded electronics can pose threats if found to be relatively less costly and more efficient. Stringent performance and reliability requirements of some end-use sectors also act as a challenge.
Key Takeaways
The Global Printed Electronics Market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period 2023 to 2030, due to increasing demand for interactive and connected devices. The market size for printed electronics is estimated to reach US$ 7114.14 Mn by 2023.
Regional analysis : Asia Pacific dominates the global printed electronics market and is expected to grow at the fastest pace during the forecast period. Presence of major manufacturers coupled with growth of industries like consumer electronics in emerging countries like China, Japan, South Korea is driving high usage of printed technologies in this region.
Key players operating in the printed electronics market include 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. Some of these leading players are focusing on technology advancements, capacity expansions, and partnerships to enhance their market share in the printed electronics market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it