Conductive Inks Market Size, Share, Opportunities, And Trends By Application (Photovoltaics (PV), Displays, Automotive, Bio-Sensors, Radio-Frequency Identification (RFID), Printed Circuit Board (PCB), Others), By Material Type (Silver Flakes, Silver Nanowire, Copper-Based Conductive Inks, Conductive Polymer Inks, Carbon Nanotube (CNT) Inks, Carbon/Graphene Inks, Others), And By Geography - Forecasts From 2024 To 2029

  • Published : Jul 2024
  • Report Code : KSI061616986
  • Pages : 140

The market for conductive inks is anticipated to grow at a compound annual growth rate (CAGR) of 6.68% during the forecast period (2024-2029). 

Conductive inks are made from carbon, metal, and conductive polymers. They are used mostly in flexible and portable electronic devices. The demand for efficient and portable electronic devices generates the demand for conductive inks in the market. Another emerging application driving the market is the use of conductive inks in the photovoltaic (PV) industry. Some common types of conductive ink are silver conductive ink, radiolucent ink, carbon ink, zinc ink, and dielectric ink, among others.

The major application of the conductive inks is the usage in solar photovoltaics and it is followed by the electric vehicle sensors and heaters. Both sectors are based on renewable energy and have the great application of circuit technology at the high end. The growth of both sectors would lead to the demand for more conductive inks in the market.

  • In the first half of 2023, EV (electric vehicle) sales reached around 6 million in 2023, according to ICCT (International Council on Clean Transportation). The majority of sales are focused on the top four markets only.
  • According to IEA (International Energy Agency), in 2023, solar PV accounted for 75% of renewable capacity additions worldwide, showcasing the importance of solar capacity addition.

CONDUCTIVE INKS MARKET DRIVERS:

  • Demand for efficiency & miniaturization of electronic devices

By the end of 2023, among the European Union countries, 78.10% of the percentage of enterprises are using ICT (Information and communication technology) access, with Japan having 92.70 % of the percentage of enterprises. These numbers signify the use of growing use of the Internet and communication devices across businesses. This led to the growing demand for the same in the market. With the growing demand for electronic devices in the market, there has been a trend toward innovation and minimization of devices. The use of electronic devices varies from marketing to operational purposes.

The circuit manufacturing of all electronic devices required the application of the conductive inks in the application. Further, the use of the conductive inks are used in the specific type of sensing, it could be used to perform non-sensing functionality beyond simply connecting components. They can also be used to repair circuits on printed circuit boards. Thus, as the demand for overall electronics increases, the demand for conductive inks will also increase in the market.

  • Increasing applications in the solar panels-

Solar power has been becoming a critical sector worldwide. The application of solar power is not just for the renewable energy capacity but also for the cheaper energy requirements. Solar energy is abundant and can be sourced easily, especially for the domestic application. The need for advanced solar devices has also grown significantly in the market. Photovoltaic technologies use conductive ink on the surface that works to allow the light to travel through multiple layers. The stability of conductivity is necessary for traveling media with good conductivity.

The demand capacity for solar electricity in Europe expanded by 21.50% from 2022 to 2023. Given the sector's importance, the European Commission has deployed legal provisions for the expansion of the solar rooftops initiative, EU large-scale skills partnership, and industry alliance. This development would certainly increase the demand for conductive inks in the production of solar PVs.

  • Emerging applications in multiple industries-

The use of conductive inks has been expanding in every domain or sector of the application. The conductive inks are made of different types of silver, gold, copper, etc. The use of carbon particles is also becoming popular. Silver inks dominate the market for uses in different applications like solar PV,  printing RFID tags, etc. They can be used to repair or improvise on the printed circuit boards. Computer keyboards also have printed circuits that use conductive inks. The main purpose behind using conductive inks in semiconductor packaging applications is to do the ultimate design, functionality, and CAPEX flexibility through additive manufacturing, without sacrificing performance and reliability.

The growing use of semiconductors in multiple fields led to the demand for the application of conductive inks in the manufacturing domain.

The Asia Pacific region will dominate the conductive inks market during the forecast period.

Asia Pacific region has become the key region for the growth and development of the world economy, with China, Japan, India, and South Korea dominating the region and the world. The region is thickly populated, and major trade through the ocean takes place in this region. The region is the largest consumer and producer of goods, and it is dominated by China. The government in the region has put policy action to promote the overall solar capacity. For example, the government of India launched initiatives like Pradhan Mantri Suryodaya Yojana in January 2024. This is to put solar power on rooftops in 10 million households, and solar PV is a major application for conductive inks.

Similarly, China is treating solar power as a strategic sector, with major industrial policies shaping the global supply chain. China has become the lead exporter of solar PV, making the sector affordable to many parts of the world.

Further, China maintains a significant international dominance in the manufacturing of electronics. According to government sources, China's electronic production reached 1.09 billion units from January 2023 to September 2023. This production resilience shows the overall input demand for the raw materials used in electronic products, including conductive inks.

Conductive Inks Market Restraints:

  • Although conductive inks are the critical material sector in the field, the cost of manufacturing those inks is very high, and the technology used has been very sophisticated, which led to difficulty in the overall manufacturing process. The resourcing of raw materials used is also not easily available; thus, the operational cost of the conductive inks becomes high and difficult for many players who want to be involved in the field.
  • Additionally, the standardization of the material, quality, and technology used has been a difficult choice for the industry player. The high-end usage of the technology and application is necessary to produce the conductive inks. The entry barrier is high for the new player.

Conductive inks market key developments:

  • In November 2023,  NovaCentrix announced the launch of  Metalon® JR-001, which is an aqueous carbon-black nanoparticle dispersion. This gives solution to a wide range of substrates. Key features of the NovaCentrix's carbon-black nanoparticle dispersion are it contains 10% by weight carbon black dispersed, is stabilized with a polymeric dispersing agent, has an average particle size of approximately 130 nanometers. It also has purity, dispersibility, and tight size control. Its properties ensure various applications, such as the fabrication of circuit boards, heating elements, switches, and sensors. Its modern utility extends to the lithium-ion batteries in electric vehicles and several consumer electronics.

NovaCentrix’s Metalon carbon nanoparticle inks are derived from the dispersion stick and can be used on a wide variety of materials, such as porous and non-porous substrates, coated and uncoated plastics (e.g., polycarbonate, PET, and polyimide), glass, metal, and paper. They exhibit high water resistance.

  • In October 2022, C3Nano, Inc. announced a breakthrough formulation in the highly conductive coatings on various temperature-sensitive substrates. The new curing ink has the possibility of application in the life sciences, automotive, packaging, consumer electronics, and disposable commodities. C3Nano presented the Activegrid™ LT (Low Temperature) Ink Series. This enables the application in multiple technological domains like food packaging, sophisticated bio-medical devices, and consumer electronics. Activegrid LT innovation is part of the company’s conductive materials platform composed of nanowires, nanomaterials, formulations, thin films, and coatings and further adds to its broad technology. Further, its applications are found in electronic stickers, one-time displays, high-volume sensors, antennas, simple circuits, near-field communication (NFC), and radio-frequency identification (RFID).
  • In January 2022,  Electroninks announced the increase in its portfolio by introducing gold (Au) and platinum (Pt) particle-free conductive inks to its catalog of products. This new addition of gold and platinum ink gives Electroninks offering to the consumer electronics, medical devices, sensors, and semiconductors industry to make lighter, less expensive, and more environment-friendly products. Introducing this new product is helpful for the foldable displays in new 5G phones to medical sensors, and it applies to athletic wear and semiconductor packaging. The new inks have high corrosion resistance and are better for protective circuits and gas, thermal, and biological sensors. Electroninks’ particle-free inks enable reliable printing and manufacturing in non-typical and even space-like environments for its aerospace and defense customers.

The conductive inks market is segmented and analyzed as follows:

  • By Application
    • Photovoltaics (PV)
    • Displays
    • Automotive
    • Bio-Sensors
    • Radio-Frequency Identification (RFID)
    • Printed Circuit Board (PCB)
    • Others
  • By Material Type
    • Silver Flakes
    • Silver Nanowire
    • Copper-Based Conductive Inks
    • Conductive Polymer Inks
    • Carbon Nanotube (CNT) Inks
    • Carbon/Graphene Inks
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Europe
      • United Kingdom
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Rest of the Middle East and Africa
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Demand for efficiency & miniaturization of electronic devices

4.1.2. Increasing applications in the solar panels

4.1.3. Emerging applications in multiple industries

4.2. Market Restraints

4.2.1. High-end technology and high cost of materials

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. CONDUCTIVE INKS MARKET BY APPLICATION 

5.1. Introduction

5.2. Photovoltaics (PV)

5.3. Displays

5.4. Automotive

5.5. Bio-Sensors

5.6. Radio-Frequency Identification (RFID)

5.7. Printed Circuit Board (PCB)

5.8. Others

6. CONDUCTIVE INKS MARKET BY MATERIAL TYPE

6.1. Introduction

6.2. Silver Flakes

6.3. Silver Nanowire

6.4. Copper-Based Conductive Inks

6.5. Conductive Polymer Inks

6.6. Carbon Nanotube (CNT) Inks

6.7. Carbon/Graphene Inks

6.8. Others

7. CONDUCTIVE INKS MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES  

9.1. DuPont

9.2. Vorbeck Materials Corp.

9.3. Applied Nanotech Holdings, Inc.

9.4. Sun Chemical Corporation

9.5. PPG Industries, Inc.

9.6. Creative Materials, Inc.

9.7. Poly-Ink

9.8. Henkel Ag & Co. KgaA

9.9. Fujikura Ltd.

9.10. Heraeus Holding

9.11. Nagase America Corporation

9.12. Epoxies, Etc

9.13. Novacentrix

9.14. NanoCnet

9.15. Octopus Fluids GmbH & Co KG


DuPont

Vorbeck Materials Corp.

Applied Nanotech Holdings, Inc.

Sun Chemical Corporation

PPG Industries, Inc.

Creative Materials, Inc.

Poly-Ink

Henkel Ag & Co. KgaA

Fujikura Ltd.

Heraeus Holding

Nagase America Corporation

Epoxies, Etc

Novacentrix

NanoCnet

Octopus Fluids GmbH & Co KG


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