The printed electronics market involves manufacturing of electronic products through printing technologies such as screen printing, inkjet printing, and others. Printed electronics and photovoltaics have become an emerging technology used for manufacturing thin-film electronic circuits. Printed electronics are witnessing high demand from various end-use industries like automotive, healthcare, consumer electronics and others owing to their advantageous properties such as flexibility, cost-effectiveness and light weight. The printed electronics finds its applications in photovoltaic cells, electronic components, radio frequency identification (RFID) tags and near field communication (NFC) antenna.
Global printed electronics market is estimated to be valued at US$ 14.72 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the printed electronics market are Regenacy Pharmaceuticals, Inc., Astex Pharmaceuticals, 4SC AG, CellCentric Ltd., Celleron Therapeutics Ltd., Bristol-Myers Squibb Company, Oryzon Genomics S.A., ChromaMedicine, Inc., Epizyme, Inc., and EpiGentek Group Inc. Key players are investing in R&D activities to develop new printed electronic products with advanced functionalities.
Key opportunities in the Printed Electronics Market Demand include development of flexible and wearable electronics. With widespread adoption of internet of things, there lies a huge opportunity for printed electronics in applications like wearable devices, smart labels and packaging.
The printed electronics market is witnessing high growth in regions like North America, Europe and Asia Pacific. Major players are expanding their manufacturing facilities globally to cater to growing demand from different industries. For instance, in 2021, LG Display announced plans to set up a printed electronic substrate production line in South Korea to expand into next-generation business areas.
Market drivers
The major market driver for Printed Electronics Market Size And Trends is the rising demand for flexible and cost-effective electronics from various industries. Printed electronics help in reducing the size and weight of electronic components. They also enable manufacturing of flexible circuits which finds applications in novel flexible displays. This rises the demand for printed electronics globally.
PEST Analysis
Political: Printed electronics will be impacted by regulations around materials and manufacturing processes. Governments may implement new environmental or safety rules related to the inks and components used.
Economic: The global economy influences demand across various end-use industries for printed electronics. Recessions could decrease sales, while economic growth helps drive new applications and adoption.
Social: Younger demographics are early adopters of new technologies enabled by printed electronics in fields like wearables, entertainment and healthcare. Social acceptance of these applications promotes further innovation.
Technological: Advancements in printing techniques, material science and miniaturization allow for new functionalities and form factors. Lower cost fabrication methods expand the scope of commercial viability. Integration with other emerging technologies spur novel applications.
The geographical regions where the printed electronics market is concentrated in terms of value are North America and Europe. Countries like the US, copyright, Germany, UK and France account for a major share of the global market currently due to the presence of established electronics manufacturing industries and early technology adoption.
The fastest growing regional market for printed electronics is expected to be Asia Pacific with countries like China, Japan, South Korea and India. This is owing to rising electronics consumption, manufacturing hubs shifting to the region and government initiatives promoting research into the field. Additionally, a burgeoning middle class population drives demand in Asian countries for various end-use products incorporating printed electronics technologies.
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