Global Conductive Inks Market was valued at US$ 3,253.3 Million in 2022 and is projected to exhibit at a CAGR of 6.87% during the forecast period and expected to reach at 5,536.1 Million in forecast period (2023–2030). Growing proliferation of printed electronics, smart devices, printed batteries, and increasing application of conductive inks in high-end medical devices and photovoltaic cells are projected drive the growth of global conductive inks market over the forecast period. Increasing application of conductive inks in smart packaging, OLEDs (Organic Light Emitting Diode), flexible displays, thin film transistors, and smart textiles is projected to surge the demand for conductive inks over the forecast period. Adoption of printed batteries as it is rechargeable and flexible is the ongoing development in the printed electronics field, and this is expected to boost the demand for conductive inks globally. Photovoltaic, displays, and sensors are some of the prime application areas of conductive inks, and this is expected to fuel the market growth. For Instance, printed electronic market to reach at US$ 55,566.5 Million by 2030 by coherent market insights.
Growing application of conductive inks in energy storage devices, memory, printed circuit boards, and mobile chips is the key driver for the market growth over the forecast period. Increase in revenue of the global conductive inks market is due to growing application of conductive inks in RFID (Radio Frequency Identification) tags and lighting. Increasing usage of conductive inks in displays, medical devices, consumer electronics, and automotive industry is contributing to positive growth of the market. Major market players are focusing on ink formulations that will address demand for fine line printing, and this will accelerate the growth of global conductive inks market. For instance, Medical device market to grow at CAGR 20.4% during forecast period by coherent market insights this will increase the market growth.
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Key trends and Analysis and Segmentation:
Conductive inks are used in stretchable and flexible electronics and smartphones due to its properties such as oxidative stability and high conductivity of silver and copper. Furthermore, it has applications in various printed electronics such as health monitors, communication devices, and OLED displays. Its extensive application in advanced medical and electronic devices along with sensors and industrial equipment is expected to drive growth of the market.
Photovoltaic application has positive trend and it will continue to have positive in near future. Photovoltaic cells helps in producing steam or hot water. Display and sensors also has positive trend in the conductive inks market.
Asia Pacific accounted highest market share in global conductive market followed by Europe, North America, Latin America, Middle East and Africa and it is expected to continue the same in forecast period.
However, high cost of silver conductive inks and price fluctuations of inks, despite of extensive sales and the steady demand for conductive ink, are hindering growth of the market. However, introduction of gold- and nickel-based inks, and high investments in research and development by market players to develop new products is expected to drive growth of the market over the forecast period.
Global Conductive Inks Market- Impact of Coronavirus (Covid-19) Pandemic
Covid-19 has negative effect on conductive inks market. Lockdown has imposed in different parts of globe and due to this there was shortage of raw material which required for production of conductive inks. Major market players had to shut down their production and manufacturing process in pandemic. Due to this demand was decreased in a large extent in Covid-19 and this affect the market in a large extent.
Key Takeaways of the Conductive Inks Market:
- Global Conductive Inks market is estimated to exhibit a CAGR of 6.87% over the forecast period (2022–2030) with huge demand for inks in Asia Pacific and Europe
- Silver Conductive Inks dominates the global market in the product segment, owing to its increasing application in smart devices in forecast period.
- Photovoltaic is a major application area of conductive inks market, as silver conductive inks are used in photovoltaic cells, and this increases the adoption of printed electronics and solar photovoltaic (PV)
- Major players involved in the global conductive inks market are E.l. du Pont de Nemours and Company, Henkel AG & Co. KGaA, Vorbeck Materials Corporation Inc., Intrinsiq Materials Inc., Johnson Matthey PLC, Heraeus Holding GmbH, Sun Chemical Corporation, Applied Ink Solutions, Creative Materials Inc., and NovaCentrix
