PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1358274
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1358274
The sustainable electronics manufacturing market is poised for exceptional growth, with revenue expected to witness a remarkable Compound Annual Growth Rate (CAGR) of 25% between 2023 and 2030, reaching a staggering US$150 billion by the end of the decade. This robust expansion is driven by a surge in electronics production geared towards meeting sustainability demands and curbing the impact of fluctuating energy costs.
The electronics industry, which currently accounts for 4% of global greenhouse gas emissions, is undergoing a transformative phase. Numerous breakthrough technologies are emerging to mitigate its environmental footprint, offering opportunities to enhance productivity, reduce waste, and cut costs in sustainable electronics manufacturing. Artificial Intelligence and the Internet of Things play pivotal roles in enabling sustainable manufacturing by utilizing sensor technology to identify leaks and inappropriate material utilization, and by employing intelligent digital manufacturing techniques to automate operations.
One noteworthy development is the expansion of Sanmina Corporation's plant in Thailand, announced in March 2020. This expansion will leverage cutting-edge custom packaging and assembly skills to produce top-notch optical, high-speed, and radio frequency (RF) microelectronic components and products. The burgeoning growth in the networking, 5G, data center, automotive/LIDAR, aerospace, and defense technology markets is further propelled by this expansion, along with the increased demand for electronic products and integrated circuits.
Two major drivers fueling the growth of sustainable electronics manufacturing are:
Despite the promising prospects, there are challenges:
In the sustainable electronics manufacturing market, substrate choice takes center stage, with flexible substrates gaining prominence. The consumption of materials for the electronics industry is expected to double by 2050, with flexible substrates projected to reach US$1 billion by 2030. Investments in substrates based on cellulose, paper, bioplastics, and bio-composites are on the rise.
The automotive industry is a dominant player in this market, driven by the increasing electrification of vehicles and government efforts to reduce CO2 emissions. Electronics manufacturing services (EMS) are crucial for automakers as electric vehicles gain popularity.
Asia Pacific: The region leads the sustainable electronics manufacturing market due to its rapid economic growth, presence of major electronic manufacturers, and a rising demand for sustainable practices and eco-friendly products. Government policies and programs in countries like Japan, China, and South Korea further promote green electronics manufacturing.
North America: The region is experiencing significant growth in consumer electronics consumption, driven by urbanization and a steady population increase. Strong financial standing supports R&D efforts, contributing to the growth of the structural electronics market.
Leading players in the sustainable electronics manufacturing market include: Samsung, Apple Inc., Intel, Nokia, Alpha, DP Patterning, Elephantech Inc., TSMC, VTT, and Sony Electronics.