The global printed electronics market is evaluated at US$15.338 billion for the year 2019 and is projected to grow at a CAGR of 16.83% throughout the forecast period. Printed Electronics is a printing method used to create electronic devices by printing on a variety of substrates. Printing uses common printing equipment suitable for defining patterns on material, such as screen printing, flexography, gravure, offset lithography, and inkjet. Printed electronics were related to organic or plastic electronics that use one or more inks made of carbon-based compounds. Electronic printing has evolved over time like inkjet printers are capable of printing electrical circuits quickly and at less cost. Printed Electronics has a lot of applications due to advancing technology like flexible screens, interactive books and posters, intelligent labels and packaging, and upholstery. Printing Electronics has made it easy to make electric components lightweight, cost-effective, and use of flexible materials in conventional circuits. Printed electronics are used in applications like displays, industrial applications including RFID, batteries, packaging and consumer applications, sensor and lighting. The cost advantage in the fabrication of roll-to-roll printing and flexible printed electronics is a major factor propelling the growth of the printed electronics market. Printed electronics have helped in reducing environmental impact, energy consumption, and material wastage.
Gravure printing to grow substantially
Printed Electronics Market is segmented by technology as Inkjet Printing, Flexographic Printing, Screen Printing, Gravure Printing, and others. Screen printing is best for fabricating electrics and electronics due to its ability to produce patterned, thick layers from paste-like materials. Screen printing has numerous advantages over other printing technologies such as durability, versatility, speed, and affordability. These advantages enhance the adoption of screen printing technology by industries. Gravure printing is applied for transforming paper into a viable substrate for printing electronics. Printing of high-performance electronic devices onto paper is limited by the large surface roughness and ink absorption of paper. The Gravure printing has overcome this by providing a local smoothing layer and printing organic thin-film transistors (OTFTs). That exhibits performance on-par with the device on a plastic substrate.
Sensors expected to hold a notable market share
Segmentation on the basis of the application is Industrial Applications, Display, Lighting, Sensors, and others. The demand for thin and highly efficient displays required in the different applications has increased the growth of OLED and LED displays segment. Advancing technology in printed electronics is developing OLED displays and making them thinner, rollable, and more efficient as OLED display developed using traditional methods. The growing sensor market owing to recent advances in technology and a decline in the cost of smartphones, diagnostic devices, and others are expected to boost the sensor segment of the printed electronics market in years ahead.
Asia Pacific to dominate the global printed electronics market
Regionally the printed electronics market is classified into North America, South America, Europe, Middle East, and Africa, and the Asia Pacific The report also analyses 16 countries across these regions with complete analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers. Asia Pacific region to witness the fastest growth in the printed electronics market 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, trade agreements will significantly contribute to the printed electronics market growth over the forecast period.
Prominent key market players in the Printed Electronics market include Thinfilm Electronics, BASF SE, E Ink, GSI Technologies, PARC, Novacentrix, and DuPont, among others. The global Printed Electronics market is highly competitive with key market players competing by way of continually innovating new applications and technologies. M&A and partnerships are some of the key strategies being implemented by key market players to gain a larger market share.