Conductive Inks Market - Forecasts from 2024 to 2029

The conductive inks market is expected to grow at a CAGR of 5.37% during the forecast period (2024-2029).

The conductive ink market is poised for significant growth, driven by technological advancements and increasing applications across various industries. Conductive ink is a type of ink that has electrical conductivity, allowing it to be useful in areas such as printed electronics, including RFID, sensors, and flexible electronics. The growing use of printed electronics, primarily in the electronics and automotive industries, is considered one of the primary drivers as electrically conductive inks are used in electric vehicles' components like displays and sensors to provide additional functions at a lower production cost. With the growth in electric vehicles, the demand for conductive inks is further expected to grow. For instance, according to Bolt Earth, a record-breaking 9,28,884 PEVs were sold in the USA in 2022, wherein this momentum continued into Q1 of 2023 with nearly 300 thousand EVs and plug-in hybrids sold. In Q2, the BEV sales alone reached a total of 300K, which was supposedly an increase of 48.8% from Q2 2022. This trend is expected to continue as the global push for renewable energy sources intensifies and the EV sales continue to grow.

• One of the major trends defining the conductive ink market is the increasing use of solar panel systems. All around the globe, countries actively work to decrease carbon emissions and integrate renewable energy sources into their countries. The demand for solar power has thus increased. Conductive inks are preferred specifically for forming photovoltaic cells because they adequately provide pathways for the electrical currents created by the solar panels. Concerning the application, the rising utilization of solar power, especially covering Asia-Pacific and Europe, positively impacts this market. For instance, China, India, and several other countries in Southeast Asia have set ambitious targets for solar power generation, driving investments in solar photovoltaic projects. As the solar industry continues to expand, the demand for conductive inks that produce solar cells and panels is expected to rise, further propelling the market's growth.
• Technological advancement has been an important factor that has boosted the speed of production of digital prints and their quality, which is extremely important in the current economy. Conductive inks are particularly compatible with digital printing methods, providing vibrant colors and excellent adhesion to various substrates. The rapid curing process of these inks, which solidify upon exposure to ultraviolet light, facilitates quicker turnaround times, enabling businesses to meet tight deadlines without compromising on quality. Therefore, the consumption of conductive inks in digital print applications has been on the rise and thereby is supporting the market growth. Such a relationship between technological innovation and market requirement is one of the most important forces that are fuelling the conductive ink market's growth.

CONDUCTIVE INKS MARKET DRIVERS:

• The photovoltaic segment by application will likely be the fastest-growing segment during the forecast period.

The photovoltaic segment is anticipated to be the fastest-growing application area within the broader renewable energy market, primarily due to the increasing global emphasis on sustainable energy solutions and solar power capacity installation. In this regard, according to India's Ministry of New and Renewable Energy published on GW Solar Power Capacity Installation in the country in 2023. It was informed that a cumulative solar power capacity of 70,096 MW was installed. In contrast, the highest state is Rajasthan, with a capacity of 17,83,998 MW, followed by Gujarat in India, with a capacity of 10,133.66 MW.

Additionally, as nations strive to meet ambitious climate targets, the demand for solar energy has surged, positioning photovoltaics (PV) as a key player in the energy transition. This growth is driven by several factors, including the declining costs of solar technology, which have made solar installations more accessible to residential and commercial consumers.

Conductive Inks Market Geographical Outlook

• Asia Pacific will dominate the conductive ink market during the forecast period.

With the prevalence of countries like China, India, and Japan, the Asia Pacific region is expected to emerge as the leading consumer of conductive inks in the global market. China is leading the APAC region in the market owing to the most capacity additions in the coming years.

The growth in the printed circuit board is also expected to drive the demand for the market. In the Asia Pacific region, Taiwan is the leading country in the PCB industry. According to the Taipei Printed Circuit Association (TPCA), Taiwan's Printed Circuit Board industry has temporarily led the global market with a 33.9% market share. Taiwan can maintain its technological lead for 3-5 years if the government sets up a global hub of advanced PCB fabrication and pursue autonomy in the supply of PCB materials.

The conductive inks market key developments:

• In January 2024, Creative Materials Inc. announced a new medical series. These include Conductive silver ink 112-15A, Medical electrode silver/silver chloride conductive ink 113-09, and UV dielectric ink 127-24FB, which is compliant with the industry standard Non-GLP primary direct to skin irritation test. This unique series of products is designed for application by screen printing, drop casting, or syringe dispensing.
• In June 2023, Celanese introduced its Micromax(TM) LF Series Conductive Inks and GreenTape(TM) LF95C Low-Temperature Co-fired Ceramic (LTCC) materials system at IMS 2023 in San Diego, California. The LF95C is a lead-free alternative to GreenTape(TM) 951 system, which is quite popular in the market.
• In January 2023, Celanese Corporation Micromax(TM) Conductive Inks announced the launch of nine new product grades for the printed electronics market at the IPC APEX EPXO. The products were featured during short PowerTalks hosted at the Insulectro/ Celanese Micromax(TM) Conductive Inks booth number 534.
• In November 2022, German-based Henkel AG & Co. KGaA and China-based firm LAIIER signed a deal to use printed electronics for scaled smart structure new construction applications.
• In January 2022, Creative Materials introduced 129-32 thermoformable in-mold compatible electrically conductive ink. This product is applied by conventional screen printing. 129-32 is formulated to provide exceptional thermoforming characteristics and meets the high temperature and pressure requirements of the in-mold electronics (IME) process.

The conductive inks market is segmented and analyzed as follows:

By Type

• Silver-based
• Copper-based
• Graphene-based
• Carbon NanotubeS
• Dielectric
• Conductive Polymers
• Other Types (Gold and Platinum-Based, etc)

By Application

• Photovoltaics
• Radio Frequency Identification (RFID)
• Sensors
• Touchscreens and Displays
• Printed Circuit Boards
• Other Applications (Digital Printing, aerospace, etc)

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• Saudi Arabia
• United Arab Emirates
• Rest of the Middle East and Africa
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific