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Global printed electronics market size was valued at $6.86 billion in 2017 and is expected to reach $21.44 billion by 2026 to exhibit a CAGR of 15.31 % during the forecast period.
Printing technologies are presently used to create electronic devices on different substrates. Printing electronics have allowed the printing of electrical components and electronic on cost-effective, lightweight and flexible materials in conventional circuits. Printed electronics is used in many applications like industrial applications including batteries, packaging, consumer, sensor, displays, and RFID.
Drivers behind the global printed electronics market are low manufacturing cost, rising demand for flexible electronics, environmentally friendly technology, the rise in applications of printed electronics in IOT, significant cost advantages provided by printed electronics the wide range of substrates and increased investments.
Ink viscosity and printability and a dearth of technical knowledge and highly skilled system integrators restraint to the market. Developing new and cost-effective inks and educating partners and clients about printed electronics and substrate thickness, uniformity related to print electronics manufacturing are the major challenges to the growth of the printed electronics market.
Several opportunities are generating in the printed electronics market owing to new functionality, applications, and incorporation of printed electronics into multiple products and amplified trend of building electronics using additive manufacturing.
Inkjet printing is a contactless printing procedure used in applications demanding uniform thickness. Different screen printing, inkjet printing is used in developing applications like textile and industrial. Inkjet printing is also gaining high power in commercialized applications, such as sensors, OLEDs, and PVs owing to its capacity to digitally control the ejection of ink droplets of defined volume and precisely position them onto a substrate. Owing to the application of Inkjet printing is expected to dominate the Inkjet printing in the global printed electronics market.
Printed displays anticipated to hold the largest share of printed electronics market during the forecast period owing to the more use of the printed display in consumer electronic products, the Increasing explosion of lightweight, innovative, and flexible displays in consumer electronic devices and rising demand IoT devices. These factors propel the growth of the printer displays in the global printed electronics market.
Stretchable electronics is expected to grow at highest CAGR during the forecast period owing to an increased adoption in the healthcare industry, due to their ability to bend, stretch, and twist easily to mold into the shape of the required object, like implantable devices, and their proficiency of transferring data from and to computers and smartphones. Also, it is used in dissimilar forms, like thin, tattoo-like electronics that can be directly mounted onto the skin and physically springy electronics that can be inserted into the body like post-surgery monitoring devices.
Consumer electronics is expected to hold the largest market share during the forecast period owing to the massive use of printed electronics in various consumer electronics equipment such as wearables smartphones, tablets, laptops, TVs and digital cameras. With the rising need for real-time monitoring, particularly, of patients with critical conditions, as well as health-condition monitoring and management in military and sports, this segment has seen robust growth. Also, the healthcare industry is expected to grow rapidly in the coming years owing to increased adoption in the healthcare industry in many devices such as CT scanning, infusion pumps, glucose monitors and so on.
The APAC is projected to hold the highest market share during the forecast period. APAC is a center for many manufacturers of electronic devices and components. The growth can be recognized to the massive production of electronic components, amplified investments in R&D in the region, and fast economic growth in major countries in this region. Also, factors like technological developments, enlarged awareness regarding the benefits of printed electronics, and its capacity to lower the production cost are also contributing to the progress of the printed electronics market. The North America and Western Europe market for printed electronics market are followed by the Asia/Pacific Excluding Japan (APEJ) market. Latin America market for printed electronics is anticipated to pace up. But, the APEJ market for the printed electronics market will hold the major market share by the end of the forecast period with a favorable growth rate over the forecast period.
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