The global functional printing market is projected to grow at a CAGR of 21.05% to reach a total value of US$47.834 billion by 2027, from US$12.560 billion in 2020.
Functional printing can be two-dimensional or three-dimensional and is used to bring functionality to what is printed. It is used for printing on different substrates and inks. Functional printing technology provides graphical effects like the electrochromic effect and electroluminescent effect. Functional printing technology has various advantages, like low production cost, less energy consumption, high manufacturing rate, and less material wastage. Advancing printing technology is increasing the reliability, accuracy, and mounting need for the mass production of electronic devices like LED, OLED, and RFID chips. The growth in display and biosensors' requirements and the development of new printing processes like micro-contact printing and nanoimprint lithography is boosting the functional printing market growth.
Inkjet is projected to hold a notable share
The functional printing market is segmented by printing technology such as inkjet printing, flexographic printing, screen printing, gravure printing, and others. Inkjets are flexible and versatile, and setting up an inkjet printer is easy. It is best used for low-viscosity, soluble materials like organic semiconductors. Screen printing is widely used in the production of sensors and radio frequency identification (RFID) antennas. Screen printing has numerous advantages over other printing technologies, such as durability, versatility, speed, and affordability. These advantages are boosting the adoption of screen-printing technology by different industries. Gravure printing is applied to transform paper into a viable substrate for printing electronics. The printing of high-performance electronic devices onto paper is limited by the large surface roughness and ink absorption of paper. Gravure printing has overcome this by providing a local smoothing layer and printing organic thin-film transistors (OTFTs). That demonstrates performance on par with the device on a plastic substrate.
RFID is anticipated to show good growth
By application, the market is segmented into sensors, batteries, RFID, photovoltaic, and flexible display. The demand for thin and highly efficient displays required in different applications has increased the growth of the OLED and LED displays segment. Advancing technology in printed electronics is developing OLED displays and making them thinner, rollable, and more efficient than OLED displays developed using traditional methods. The function printing market is growing owing to recent advances in technology and a decline in the cost, of reliable and robust electronic devices such as RFID antennas and sensors all over the world.
The Asia Pacific is expected to grow substantially
The Functional Printing market is divided into five regions: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The report also analyses 16 countries across these regions with a complete analysis and forecast along with prevailing market trends and opportunities that each of these countries presents for the manufacturers. North America has a significant market share of functional printing due to increased usage of this printing technology by the electronics sector because of its design, low cost, and material utilization benefits. The Asia Pacific region will witness the fastest growth due to the massive production of electronic components, amplified investments in research and development, and fast-emerging economies like India and China. Factors like rapid industrialization and supportive government regulations such as FDI, and trade agreements will significantly contribute to the functional printing market’s growth over the forecast period.
|Market Size Value in 2020||US$12.560 billion|
|Market Size Value in 2027||US$47.834 billion|
|Growth Rate||CAGR of 21.05% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Technology, Material, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Avery Dennison Corporation, BASF SE, Eastman-Kodak, Mark Andy, Glenroy, Inc., Flexo Graphics Inc, Century Label, Kendall Packaging Corporation, Choice Label Inc.|
|Customization Scope||Free report customization with purchase|
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. 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. FUNCTIONAL PRINTING MARKET ANALYSIS, BY TECHNOLOGY
6. FUNCTIONAL PRINTING MARKET ANALYSIS, BY MATERIAL
7. FUNCTIONAL PRINTING MARKET, BY APPLICATION
8. FUNCTIONAL PRINTING MARKET ANALYSIS, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.2. United Kingdom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.3. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Avery Dennison Corporation
10.2. BASF SE
10.4. Mark Andy
10.5. Glenroy, Inc.
10.6. Flexo Graphics Inc
10.7. Century Label
10.8. Kendall Packaging Corporation
10.9. Choice Label Inc.
Avery Dennison Corporation
Flexo Graphics Inc
Kendall Packaging Corporation
Choice Label Inc.
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