According to the new market research report “Conductive Ink Market by Type (Silver, Copper, Carbon/Graphene, Carbon Nanotube, Conductive Polymer), Application (Photovoltaics, RFID, PCB, Membrane Switches, Displays, Bio-Sensors, Thermal Heating), Region – Global Forecast to 2024″, is projected to grow from USD 3.3 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 4.0% during the forecast period.
The growth of the market can be attributed to the increasing consumption of conductive inks from various applications such as photovoltaics, RFID, PCB, membrane switches, displays, biosensors, and thermal heating, among others.
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The silver conductive ink segment is projected to account for the largest market share, in terms of value, during the forecast period. Apart from being a good conductor, silver offers a conductive native oxide layer, which usually forms on the surface, unlike other metals. With advancing technological advancements, conductive silver inks are compatible with almost every printing technique, such as inkjet, screen, gravure, and flexography. The various properties, which make silver a suitable candidate for the manufacturing e of conductive inks include strength, corrosion resistance, and unaffected by moisture resistance.
Based on application, RFID is projected to be the fastest-growing application of conductive inks during the forecast period. This is due to the increasing demand for RFID in smart packaging. Many low-cost variants of RFIDs are being developed. The RFID system has the advantage of tracking long-distance communication between the tag and reader through ultra-high frequency (UHF) band. Hence, it is expected to witness high growth in the future.
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The global conductive inks market is estimated to grow from USD 3.3 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 4.0% during the forecast period. The global conductive inks are mainly driven by the high demand for efficiency and miniaturization of electronics and new applications in the electronics industry. Rising demand for smaller electronics in every industry is driving the demand for conductive inks for these electronics. Conductive inks are efficient, effective, and reliable and are widely used as a replacement for conventional wire and circuit arrangement to enhance efficiency and reduce the weight of electronic components.
DowDuPont (US), Henkel AG & Co. KGaA (Germany), Heraeus Holding GmbH (Germany), Johnson Matthey (UK), Poly-Ink (France), Sun Chemical Corporation (US), NovaCentrix (US), Creative Materials Inc. (US), Applied Ink Solutions (US), and Vorbeck Materials (US), among others are the leading conductive inks manufacturers, globally. These companies adopted partnerships, merger & acquisition, new product development, collaboration, and agreement, as their major business strategies between 2015 and 2019 to earn a competitive advantage in the conductive inks market.
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DowDuPont (US) is one of the leading players in the conductive inks market. The company has been focusing on both organic and inorganic strategies to maintain its leading position in the market. For example, in March 2019, the company invested around USD 220 Million to build new production assets at its Circleville, Ohio, plant. In December 2018, the company launched its second generation of in-mold electronic materials with key advancements. This technology enables functions such as touch controls and lighting to be directly embedded inside of plastic parts by printing circuits onto plastic sheets.
Henkel AG & Co. KGaA (Germany) is another major player in the conductive inks market. In February 2018, the company invented a new material for medical and automotive printed electronics applications. Novel printed inks and coatings for health monitoring, in-cabin automotive design, self-regulating heating technology, and ink-compatible solder materials are some of the recent products launched by the company. In December 2017, the company invested in Copprint Technologies Ltd (Copprint), headquartered in Israel to strengthen its expertise for in printed electronics.
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