The printed electronics market is estimated to be valued at USD 14.72 billion in 2024, growing at a CAGR of 18.8% over the forecast period (2024-2031). The growing popularity of advanced displays and rapid innovations in printed sensor technology are further fueling the market growth.
Market Dynamics:
The printed electronics market is driven by the rising demand for flexible displays and sensors from the consumer electronics and automotive industries. Flexible displays offer innovative design options to Original Equipment Manufacturers and provide a high level of durability. Additionally, printed sensors provide cost-effective solutions for applications ranging from health monitoring to Internet of Things. Furthermore, the surging adoption of printed Radio-Frequency Identification (RFID) tags across industries such as retail and logistics is also contributing to the growth of the printed electronics market. Printed RFID tags offer improved functionality, are extremely affordable to produce, and can efficiently track the movement of goods & assets. The development of more efficient printing technologies will further support the commercialization of printed electronics over the forecast period.
The growing demand for lightweight, flexible, and cost-effective electronic products is driving growth in the printed electronics market
The printed electronics market is witnessing strong growth due to the increasing demand from various end-use industries for lightweight, flexible. and cost-effective electronic products. Printed electronics allow for the development of electronic circuits that can be printed or deposited on almost any flexible surface such as plastics, fabrics, ceramics and more. This enables the fabrication of lightweight and flexible electronic devices. Moreover, printing techniques such as inkjet and screen printing reduce manufacturing costs compared to traditional silicon wafer processing. The cost benefits have increased the adoption of printed electronics in applications such as RFID tags, sensors, displays, and photovoltaics. Several industries including consumer electronics, automotive, healthcare and packaging are incorporating printed electronics to develop innovative products and meet evolving customer needs.
Rapid technological advancements in printing technologies are expanding the application areas and driving higher market revenues
Advancements in printing processes such as inkjet printing, aerosol jet printing, gravure printing, and screen printing have significantly improved deposition control and resolution. These developments now allow micro and nano-scale features to be printed with high precision. Emerging technologies like printed organic thin-film transistors, Organic light-emitting diodes (OLED), and Oral poliovirus vaccine (OPV) are finding applications in areas like flexible displays, smart labels, wearables, and Internet of Things (IoT). Continuous R&D is also enhancing printing speed, improving conductivity and stretching the cost-to-performance ratio. This is enabling printed electronics to replace conventional silicon chips in more applications. Higher resolution and faster printing processes will accelerate market growth by increasing adoption across industries.
High production costs and challenges in developing flexible inks pose restraints to market growth
Despite the benefits, high initial investments required for printing equipment hampers small manufacturers from entering this market. Advanced printing technologies and materials also contribute to higher costs. Developing functional inks that can be processed at low temperatures remains challenging. Meeting requirements in terms of conductivity, barrier properties and printability has proven difficult. This limits print electronics to niche applications currently. Standardization of processes and materials is still lacking compared to traditional silicon technology. Ensuring durability, lifetime and reliability of printed layers also presents technical obstacles. Such economic and technological barriers restrain overall market revenues to some extent currently.
Growth opportunities in developing areas such as flexible printed sensors and Internet of Things (IoT)
Increasing R&D in developing flexible printed sensors is opening new application avenues. Sensors for monitoring parameters like temperature, humidity, stress, and movement are finding uses in smart packaging, medical patches and industrial processes. This represents a major opportunity segment. Moreover, the proliferation of IoT technology is bolstering the demand for low-cost connected devices. Integration of printed electronics can help develop powerful IoT systems in a cost-effective manner. Areas such as smart cities, infrastructure monitoring and asset tracking will drive sensor and interconnection requirements. In future, printed memory, logic and communication components may allow truly flexible and disposable smart systems. The development of suitable printing techniques and materials will create multi-billion-dollar opportunities in these emerging application domains.
Link: https://www.coherentmarketinsights.com/market-insight/printed-electronics-market-595
Key Developments:
- In April 2022, E-Ink, a prominent digital paper technology company, launched E-Ink Kaleido 3, improving the display capabilities of eReaders and eNotes. This new version features 16 levels of greyscales and 4096 colors, with a 30% increase in color saturation compared to previous E-Ink Kaleido Plus.
- In February 2022, Ensurge Micropower ASA, a micro battery manufacturer, announced a customer agreement with a Fortune 500 industrial company specializing in capital equipment manufacturing. The focus of the agreement is to provide solid-state micro-batteries tailored for applications such as IoT and medical devices.
- In September 2021, Novacentrix, known for advancements in printed electronics, collaborated with the University of Texas at Dallas on solar panel production. The collaboration highlighted a method called photonic curing, showcased by the University, which is valuable for creating thin films in flexible electronics.
Key Players:
Agfa-Gevaert Group., Applied Ink Solutions., BASF SE, Coatema Coating Machinery GmbH, Dow, DuPont, E Ink Holdings Inc., ELANTAS Europe Srl., Intrinsiq Materials, Inc., Jabil Inc., Molex, NextFlex., Nissha Co., Ltd., Novacentrix., Optomec, Inc., Palo Alto Networks, PRINTED ELECTRONICS LTD., SAMSUNG, Sumitomo Chemical Co., Ltd., Thin Film Electronics ASA., Vorbeck MaterialsCorp., and Ynvisible Interactive Inc. are the major players.
