According to latest market research report “Printed Electronics Market by Printing Technology (Screen, Inkjet, Gravure, Flexographic), Application (Displays, Sensors, Batteries, RFID, Lighting), Material (Inks, Substrates), End-Use Industry, and Geography – Global Forecast to 2024”, published by MarketsandMarkets™, the Printed Electronics Market is projected to grow from USD 9.8 billion in 2019 to USD 19.8 billion by 2024; it is expected to grow at a CAGR of 15.1% during the forecast period.
The growth of the market is mainly driven by the increased use of printed electronics for the development of smart and connected devices, rise in the global demand for energy-efficient, thin, and flexible consumer electronics, high demand for new generation flexible printed electronics, and significant cost advantages offered by printed electronics.
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The inkjet printing technology segment of the printed electronics market is projected to grow at the highest CAGR during the forecast period.
Inkjet printing is a contactless printing process, which is suitable for applications requiring a uniform thickness of printed lines. Unlike screen printing, inkjet printing is used in emerging textile and industrial applications, among others. It can digitally control the ejection of ink droplets of defined volume, and precisely position them onto substrates.
The displays application segment is expected to account for the largest size of the printed electronics market from 2019 to 2024.
Printed displays are mainly used in consumer electronics such as wearables and mobile devices. Increased demand for energy-efficient, thin, and flexible consumer electronic products is fueling the demand for printed displays globally. Leading manufacturers have introduced thin, flexible, and energy-efficient displays developed using the organic light-emitting diodes (OLED) technology in the market. OLED technology is one of the major applications of printed electronics and is being used in high-end smartphones.
The aerospace & defense end-use industry segment of the printed electronics market is projected to grow at the highest CAGR during the forecast period.
The aerospace & defense segment of the printed electronics market is projected to grow at the highest CAGR during the forecast period owing to the increasing use of printing electronics-based lighting in automobiles and home appliances. Printed electronics are largely being adopted in the aerospace & defense industry owing to their lightweight, less complexity, and high reliability, which ultimately results in their low maintenance requirements.
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The printed electronics market in APAC is projected to grow at the highest CAGR from 2019 to 2024.
Countries such as China, Japan, South Korea, and Australia are major contributors to the growth of the printed electronics market in APAC. Factors such as the acceptance of innovative technologies and the increased popularity of advanced consumer electronics are driving the growth of the printed electronics market in APAC. The region is a manufacturing hub for electronic devices and components. The growth of the printed electronics market in APAC can be attributed to the large-scale production of electronic components and increased investments in R&D activities related to printed electronics in the region.
Key players in the printed electronics market include Samsung Electronics Co., Ltd. (Samsung) (South Korea), LG Electronics Inc. (LG) (South Korea), Palo Alto Research Center Incorporated (PARC) (US), Agfa-Gevaert Group (Agfa-Gevaert) (Belgium), Molex LLC (Molex) (US), Nissha Co., Ltd. (Nissha USA) (US), DuPont de Nemours, Inc. (DuPont) (US), BASF SE (BASF) (Germany), NCC Nano, LLC (NovaCentrix) (US), E Ink Holdings (US), and Ynvisible Interactive Inc. (Ynvisible Interactive) (Portugal).
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