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Global Conductive Inks Market to Reach Over $4B by 2023
December 4, 2017 | Wiseguyreports.comEstimated reading time: 1 minute
The global conductive inks market accounted for $3.12 billion in 2016 and is expected to reach $4.33 billion by 2023 growing at a CAGR of 4.8% during the forecast period. One of the key factors fueling the market is the exponential increase in the growth of printed electronics technology. Conductive ink is extensively used in automotive sector and also in smart packaging applications. The usage of smart packaging has amplified in pharmaceutical and food product industry in the recent years, which, in turn, is expected to propel the growth of conductive ink market in the FMCG sector.
Carbon or grapheme base provides the conductive ink with an added flexibility and performance. Carbon-based inks are extensively being used in the fabrication of nanomaterials due to their low cost and customization. Conductive silver ink also has several applications because of to its high thermal conductivity and printability. However, manufacturers are exploring substitutes for silver owing to its high cost and shortage.
The key players are expanding their product portfolio as they can, hoping that one or more of niche markets become huge success stories. That’s why big companies have all categories of new inks on the market, whether they are inks that are in-mold compatible, stretchable inks, inks that can be used in extremely high or extremely low temperatures or many others. The capability to customize the formulation will be a big selling point. The United States and European markets are observed to be major markets, and it is expected that production volumes will grow as the conventional packaging converter base begin developing more production capabilities for electronics at lesser costs.
Some of the key players in the market include
Conductive Compounds Inc., Creative Materials Inc., E. I. Dupont De Nemours and Company, Henkel AG & Co. KGAA, Heraeus Holding GmbH, Johnson Matthey PLC, Novacentrix, Poly-Ink, Sun Chemical Corporation, Vorbeck Materials Corporation, Advanced Nano Products Co. Ltd. (Korea), Agfa-Gevaert N.V. (Belgium), AgIC Inc. (Tokyo, Japan), Applied Nanotech Holdings Inc. (Texas, U.S.) and Bando Chemical Industries, Ltd. (Japan).
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