The global printed electronics market size is estimated to grow from USD 7.9 billion in 2020 to USD 22.7 billion by 2027. It is projected to grow at a CAGR of 21.5% from 2021 to 2027. The production of Screen Printing is gathering traction around the globe, backed by wide applications such as commercialized devices such as smartphones and laptops, sensors, and photovoltaic cells. In addition, the global market is driven by the trend of using graphene ink to develop cost-effective, versatile, water-repellent, and highly conductive printing technologies. Over the forecast period, this aspect would boost the global printed electronics industry.
Factors Affecting the Printed Electronics Market Over the Forecast Period:
The increased use of printed electronics to produce smart and connected devices and the growing penetration of IoT are the key factors driving the global market. Moreover, the global demand for energy-efficient, lightweight, flexible electronics, low manufacturing costs, and environmentally sustainable technologies is also moving the market towards expansion.
Substantial cost advantages provided by printing technologies are boosting the market growth. The use of additive processing for print electronics is also creating market growth opportunities.
The advent of new functionalities and the implementation of Printed Electronics and its combination with multiple products create several opportunities in the global market for printed electronics.
Complex Production Method is Hindering the Market Growth
- The knowledge gap between the various group of people engaged in the production of Printed Electronics is restricting the market growth.
- The lack of understanding of benefits among manufacturers of electronic devices and components is hindering the industry’s growth.
- Complex production methods and other content problems impede the market.
- The commercialization of innovative and cost-effective inks presents huge challenges to the global demand for printed electronics.
Impact of COVID-19 on Printed Electronics Market:
COVID-19 Pandemic is projected to have a major impact on the global printed electronic industry, as the APAC region is one of the largest raw and finished products producers. COVID-19 has also significantly affected the printing electronics market, and manufacturers intend to foresee production delays when the sector needs more human labor. Reduction of processing capability limits the probability of printing displays. With factories facing labor and component storage, production declines are expected. Reducing orders, halting production activities, and labor shortages are likely to affect applications, impacting the printing electronics industry.
Based on the technology, the printed electronics market has been segmented into–
- Screen Printing
- Inkjet Printing
- Flexographic Printing
- Gravure Printing
- Others
Based on material type, the printed electronics market has been segmented into –
- Substrates
- Inks
- Plastic
- Glass
- Paper
- Dielectric Inks
- Conductive Inks
Based on application, the printed electronics market has been segmented into –
- Displays
- Photovoltaic (PV) Cells
- Radio-frequency Identification (RFID) Tags
- Lighting
- Sensors
- Batteries
- Others
Based on end-use industry, the printed electronics market has been segmented into –
- Automotive and Transportation
- Consumer Electronics
- Healthcare
- Retail and Packaging
- Aerospace and Defence
- Construction and Architecture
- Others
Printed Electronics Market: Regional Outlook
The global printed electronics market has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, and the Middle East and Africa (MEA). In the global printed electronics market, North America accounted for the largest share in the global market in 2020, followed by the Asia Pacific and Europe. The region of the region is primarily due to the growing investment in R&D, the technology is expected to gain traction in North America. Furthermore, Asia Pacific is anticipated to project the highest CAGR in the global market over the forecast period. This rise is attributable to the increasing need for printed electronics technologies in the implementation of consumer products.
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