INDUSTRIAL SCREEN PRINTING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market Challenges And Opportunities

Global Industrial Screen Printing Market- Restraints

• Stringent environmental regulations-The screen printing industry faces challenges due to stringent environmental regulations regarding Volatile Organic Compound (VOC) emissions from inks and disposal of screen printing wastes. Compliance to regulations such as Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) in Europe, Clean Air Act in the US increases production costs. This may restrain the growth of the screen printing market. Companies need to develop eco-friendly processes and reformulate inks to minimize impact.
• Competition from digital printing: Advances in digital printing technology and its increasing adoption are posing competition to conventional screen printing. Digital printing provides advantages like flexibility, lower costs, quick turnaround times, ability to print variable data. Several end-use industries are adopting digital printing over screen printing due to these benefits. However, limitations in printing on uneven surfaces, lower ink durability restricts complete replacement of screen printing.

Global Industrial Screen Printing Market- Opportunities

• Emerging markets in Asia Pacific and Middle East &: The industrial screen printing market in the Asia Pacific and Middle East & Africa regions provide tremendous opportunities for growth in the coming years. These emerging markets are experiencing rapid industrialization and expansion of manufacturing capabilities. With a huge population base and a growing middle class with rising disposable incomes, the internal demand for a wide variety of screen printed products is surging steadily. Several countries in these regions such as China, India, Indonesia, Vietnam, Iran and Saudi Arabia have introduced investor-friendly reforms and are actively working to develop world-class manufacturing and infrastructure. Low-cost skilled labor, availability of raw materials and accessibility to global export markets give these nations a competitive advantage in production. According to The World Bank, the manufacturing sector output in China increased by 6.4% in 2021 from the previous year. Similarly, manufacturing in India has seen steady expansion contributing to around 15-17% of the GDP in recent years.
• Development of new applications: Development of new applications is one of the major opportunity areas in the global industrial screen printing market. As new technologies emerge, screen printing is finding a wide range of innovative uses across diverse industries. For instance, screen printing is now being used to develop smart textiles that can monitor health vitals, integrate electronic components and interact with digital devices. Several research institutes and companies are experimenting with advanced conductive inks and printable electronics to open up new frontiers for e-textiles, wearable tech and smart logistics. This presents a huge scope to drive the adoption of industrial screen printing processes. Similarly, screen printed chips, sensors and other micro-components are creating more opportunities in medtech, lab-on-chip technologies and nano-manufacturing sectors according to World Health Organization reports. Cutting edge research at various engineering universities revealed potential applications in developing low-cost flexible solar panels and biodegradable electronic paper-like displays as per their published studies in 2021 and 2022. This signifies the growing emphasis on sustainability and eco-friendly production methods embraced by many organizations. Screen printing allows for printing electronic circuits on compostable, edible and 3D contoured surfaces.

Global Industrial Screen Printing Market- Drivers

• Increasing demand from textile industry - The textile industry is witnessing a phase of strong growth globally which has resulted in increasing demand for printing on various textile materials like cotton, polyester, nylon etc. used in apparel, home furnishings and other industrial applications. With rising disposable incomes, fashion has become an integral part of self-expression and identity for many consumers across the world. This has encouraged textile manufacturers and retailers and push the boundaries of design and creativity through industrial screen printing. Screen printing allows for multicolor designs and patterns to be printed consistently at high speeds on fabric rolls or cut pieces. It gives leverage to textile businesses to frequently refresh their catalog with new designs and stay ahead of the latest trends. Particularly for apparel and accessories segments targeting youth, screen printing helps bring out innovative and customized prints. The ever-evolving tastes of young consumers have made industrial screen printing the preferred technology for bulk production of textiles with aesthetic design As per data by United Nations Economic Commission for Europe, construction spending across globe increased by 3% year-on-year in 2021 led by higher investment in residential and infrastructure projects in developing nations like India and countries in Southeast Asia. This trend indicates longer term prospects for technical textiles and specialty fabric printers.
• Rising applications in electronics industry: The electronics industry has seen tremendous growth in recent years, with more sophisticated devices being developed and adopted widely. Almost all electronic devices today, from smartphones to appliances to vehicles, require intricate circuit boards and components that allow for their complex functions. Screen printing plays a vital role in manufacturing these electronic components and circuit boards. It allows for the precise deposition of conductive metals like silver and copper traces that form the connections between chips and other elements. The miniaturization of electronics has also increased the demand for higher-resolution industrial screen printing capabilities. Whether it's printing onto substrates as small as a grain of rice for wearables or circuit boards for laptops, screen printing machines have evolved to meet the demands of electronics manufacturing. As technologies like 5G networking, artificial intelligence, virtual/augmented reality, autonomous vehicles, and the internet of things continue to develop rapidly, their widespread adoption will fuel further growth of the electronics sector in the coming years. A 2020 report from the UN Conference on Trade and Development estimates that the global electronics export market will increase by 27% from 2020 to 2023. Since almost all electronics require circuit boards and components made possible through screen printing technologies, this rise in the electronics industry directly drives increases in demand for industrial screen printing machines, screens, substrates, inks and other supplies.