PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555745
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555745
The market for Printed Electronic Material was projected to reach USD 3,926.6 million in 2023 and expand at a CAGR of 19.60% between 2024 - 2032.
A printing technique called "printed electronics" is used to create electronic devices on a variety of surfaces. The capacity of this technique to build flexible electronics on a massive scale is gaining popularity. The substrate selection greatly influences the design of printed electronics materials, whether it be flexible or stiff. Automation, mass production adaptability, and rapid production speed are some of the main advantages of printed electronics. The evolution of contemporary electronic technology is facilitated by the production of thin, flexible, lightweight, and reasonably priced electronic products made possible by printed electronic materials.
Printed Electronic Material Market- Market Dynamics
Growing Need for Flexible and Compact Electronics Materials
One of the main factors driving the expansion of market, according to the printed electronics materials market estimate, is consumers' shifting demand for flexible and lightweight electronics that may reduce weight and save costs. Because conventional electronics are heavy and inflexible, it is more difficult to create innovative and contemporary products. Due to its ability to generate flexible substrates that enable the creation of new designs, paradigms, and applications, printed electronic materials are in even greater demand. Furthermore, growing awareness of printed electronics' flexible qualities has increased demand for them in the wearables, consumer electronics, and healthcare sectors, which is driving the market's expansion.
Printed Electronic Material Market- Key Insights
According to our research analyst's analysis, the global market is projected to expand at a CAGR of approximately 19.60% during the forecast period of 2024-2032.
On the basis of application, the display category was projected to have the largest market share in 2023.
On the basis of material, the ink category emerged as the top segment in 2023.
On the basis of technology, the screen printing category emerged as the top segment in 2023.
Asia Pacific held the largest revenue share by region in 2023.
The Global Printed Electronic Material Market is segmented into Application, End-user, Material, Technology, and Region.
Based on application, the printed electronic material market is segmented into Display, Battery, RFID Tag, Lighting, Photovoltaic Cell, and Others. Due to the growing global sales of smart devices, the printed electronic materials market in 2023 was dominated by the displays segment, which was the largest segment. The display market is expanding as a result of consumers' increasing desire for smartphones and flexible electronics, which are improving customer experiences in consumer electronics, automobiles, and other industries.
On the basis of material, the market is divided into Ink (Copper Ink, Silver Ink, Carbon Ink) and Substrate (Inorganic, Organic). Due to its lightweight, flexible, thin, and affordable nature, the ink segment, which holds the greatest share in the printed electronic materials market, led by the automotive and consumer electronics end-use sectors, in 2023. The market for printed electronic materials is seeing expansion in the ink segment due to the increased demand for carbon-based ink and its ability to cater to industrialists' demands.
Printed Electronic Material Market- Geographical Insights
The Printed Electronic Material market is widely distributed geographically in North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. These areas are further separated based on the countries that provide business.
In 2023, the Asia Pacific region held a dominant position in the global market, contributing over 45.00% of the total revenue. The rising use of this technology in consumer electronics applications is mostly responsible for the high market share. Throughout the forecast period, it is expected that the APAC regional market will continue to develop at the quickest rate of compound annual growth. This expansion is explained by the region's fast-expanding electronics manufacturing industry. China, South Korea, Japan, and other emerging nations provide substantial contributions to the target market. Additionally, a major center for the production of electronics is the Asia Pacific region, particularly China.
Due to expanding R&D investments and the technology's increasing acceptance in a variety of industrial applications, including photovoltaic, lighting, and RFID devices, printed electronics technology is expected to gain traction in North America and Europe. Throughout the projected period, these regions are expected to experience consistent growth rates. The target market in Europe is expanding due in large part to the growing popularity of electronic items and the region's increasing acceptance of cutting-edge technologies.
In order to meet the increasing demands of their customers, businesses such as E Ink Holdings Inc., Agfa-Gevaert N.V., BASF SE, and Nissha Co. Ltd., among others are concentrating on growth throughout various locations. Businesses are focusing on new areas in order to increase the size of their clientele through joint ventures and acquisitions. The major competitors in the market are engaged in a concentrated competition to grasp the market better and gain dominance through inventive product launches, thorough R&D, and improvements in printing capabilities. Businesses are increasingly entering into agreements in order to obtain a market advantage.
August 2022: The successful completion of a $35 million expansion capital financing by Element Solutions Inc. was announced by C3Nano. Moreover, the company was able to double its capacity for silver nanowire synthesis and production at its Hayward, California, facility thanks to the growth funding that included both loans and equity.
January 2022: The 129-32 thermoformable, electrically conductive ink that is compatible with molds was created by Creative Materials and is used in the screen-printing industry. The product line adheres very well to polyester, poly (methyl methacrylate) (PMMA), polycarbonate (PC), acrylonitrile butadiene styrene (ABS), and a number of other high-energy surfaces.