Global Printed Electronics Market Is Estimated To Witness High Growth Owing To Increasing Adoption of Flexible Electronics
The global Printed Electronics Market is estimated to be valued at US$9.9 billion in 2021 and is expected to exhibit a CAGR of 18.3% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Printed electronics is a rapidly growing field that involves the use of printing techniques to create electronic devices on various substrates such as plastics, papers, and textiles. The market for printed electronics is driven by the increasing demand for flexible, lightweight, and low-cost electronic products. Printed electronics find applications in various industries such as healthcare, consumer electronics, automotive, and aerospace. Some of the key products associated with printed electronics include sensors, displays, batteries, and photovoltaics.
B) Market Dynamics:
Two major drivers fueling the growth of the printed electronics market are the increasing adoption of flexible electronics and advancements in printing technologies. Flexible electronics offer several advantages such as lightweight, thinness, and bendable nature, making them suitable for various applications. They are widely used in wearable devices, smart packaging, and flexible displays. The advancements in printing technologies, such as inkjet printing and screen printing, have made it possible to print complex electronic components with high precision and at low cost.
Additionally, the market for printed electronics presents lucrative opportunities for the integration of Internet of Things (IoT) and printed electronics technology. IoT requires low-cost, flexible, and energy-efficient devices, which can be achieved through printed electronics.
C) Segment Analysis:
The Printed Electronics Market can be segmented based on printing technology, application, and region. In terms of printing technology, inkjet printing is expected to dominate the market due to its ability to print a wide range of materials and high-resolution printing. In terms of application, the display segment is expected to dominate the market due to the increasing demand for flexible displays in smartphones, televisions, and wearable devices.
D) PEST Analysis:
Political: The government regulations and policies related to the manufacturing and use of printed electronics can impact the market growth.
Economic: The economic conditions of a region, such as GDP growth, inflation rate, and disposable income, can influence the adoption of printed electronics.
Social: The growing consumer preference for lightweight and flexible electronics is driving the demand for printed electronics.
Technological: Advancements in printing technologies and materials are enabling the printing of complex electronic components with high precision.
E) Key Takeaways:
- The global printed electronics market is expected to witness high growth, exhibiting a CAGR of 18.3% over the forecast period, due to increasing adoption of flexible electronics and advancements in printing technologies.
- The Asia-Pacific region is expected to be the fastest-growing and dominating region in the printed electronics market, driven by the presence of major electronics manufacturing countries such as China, Japan, South Korea, and Taiwan.
- Key players operating in the global printed electronics market include Ensurge Micropower ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E-Ink Holdings Inc., Molex, Inc., and PARC. These players are focusing on partnerships, collaborations, and product innovations to strengthen their market position.
In conclusion, the global printed electronics market is poised for substantial growth, driven by the increasing adoption of flexible electronics and advancements in printing technologies. The market offers significant opportunities for players in the integration of IoT and printed electronics technology. The Asia-Pacific region is expected to lead the market, supported by major electronics manufacturing countries. Key players in the market are actively engaged in strategies to enhance their market presence.
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