The global Printed Electronics Market is estimated to be valued at Us$ 7114.14 Mn or Bn in 2023 and is expected to exhibit a CAGR Of 5.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Printed electronics offers several advantages over conventional electronics such as thin, lightweight, flexible, unbreakable and cost effective production. These electronics can be directly printed or deposited onto a variety of surfaces including glass, plastic, paper using a range of affordable tools and automated industrial processes.
Market key trends:
The printed sensors segment is gaining high traction and growing at a fastest pace. Printed sensors help in various applications such as detection of gases, temperature, motion, pressure and humidity. These printed flexible and wearable sensors can be easily embedded into various objects without compromising their aesthetics. Rapid adoption of printed and flexible sensors in applications such as smart packaging, medical devices and automotive is a major trend fueling growth of printed electronics market. One of the major factors driving this trend is the scope for device and product miniaturization offered by printed and flexible sensors.
Segment Analysis
The printed electronics market is segmented based on material, technology, application and geography. Based on material, the market is segmented into substrates, conductors, dielectric & laminates and resins. The substrate segment captured largest share of the market in 2022 owing to increasing usage of plastics and papers as a cost-effective substrate for printed electronics.
Key Takeaways
The Global Printed Electronics Market Demand is expected to witness high growth, exhibiting a CAGR of 5.3% over the forecast period, due to increasing demand for lightweight, flexible and lower cost electronics used in emerging applications like wearables, healthcare, appliances etc. The Asia Pacific region dominated the market in 2022 and projected to exhibit highest CAGR over the forecast period attributed to presence of key companies manufacturing printed electronic products in countries like China and India.
Furthermore, increasing adoption of advanced technologies like printed battery, sensors, photovoltaics in applications like smart packaging and healthcare in countries like Japan and South Korea are propelling growth of printed electronics market in Asia Pacific.
Key players operating in the printed electronics market are Ensurge Micropower ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E-Ink Holdings Inc., Molex.Inc, PARC, a Xerox company. The market leaders like DuPont and BASF have captured majority share in 2022 through their broad product portfolio and global sales and distribution networks.
Regional analysis
The Asia Pacific region dominated the global printed electronics market and captured around 35% market share in 2022. This dominance is attributed to presence of key players like Samsung, Panasonic, Ritdisplay, Plastic Logic, Palo Alto Research Center manufacturing printed electronic products in China and advancement of printing technologies in countries like Japan, South Korea. Furthermore, increasing adoption of printed electronics in emerging applications like smart packaging, healthcare, advertising in APAC countries is fueling growth of printed electronics market. North America and Europe are also significant markets majorly due to widespread adoption of printed flexible displays, RFID tags and sensors in these regions.
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