The global printed electronics market was valued at USD 10.59 billion in 2022 and is expected to grow at a CAGR of 22.3% during the forecast period due to the rapid adoption of printed electronic products. By 2032, the printed electronics market is expected to reach US$79.29 billion.
Printed electronics is a method of printing to create electrical circuits. In printed electronics method, the conductive polymers and inks are printed onto the fabrics or foils. The printed electronics is comparatively a cost effective process when compared to the traditional methods of creating transistors, capacitors and coils.
It has a wide range of applications in several industries, which includes consumer goods, electronics, media and healthcare among others. Printed electronics being the latest technology, the adoption of the technology among the above-mentioned industries are high owing to its potential benefits such as flexibility, thickness and cost among others.
The printed electronics market will provide lucrative opportunities for development of new products. The global market for printed electronics will register a double digit CAGR over the forecast period.
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The growing adoption of IoT is opening up new opportunities for printed electronics market growth, broadening the scope of printed electronics applications across the industry. The rising demand for advanced OLED displays and printed RFID devices is paving the way for increased technology adoption due to its low production cost, higher efficiency, and low power consumption.
Manufacturers incorporate technology into various products based on demand and supply them to distributors or retailers for sale. To gain a foothold in emerging regional printed electronics market such as Asia-Pacific, industry leaders are focusing on mergers and acquisitions or distribution partnerships.
Due to the growing consumer electronics manufacturing practices, there is high demand for printed electronics in the Asia-Pacific region. Printed electronics has been a significant research area, with a focus on continuous upgrades and improvisations to improve existing capabilities and explore new applications in a variety of fields.
Over the last few decades, increased R&D investments by various associations, organizations, and manufacturers have resulted in several benchmarking innovations and developments in printed electronics technology which results in boosting the printed electronics market opportunities.
The printed electronics market is expected to gain traction in the North America and Europe regions due to increased R&D investments and growing adoption of the technology in various industrial applications such as photovoltaic, lighting, and RFID devices.
During the forecast period, these regions are expected to experience consistent growth rates. The increasing adoptions of printed electronics in the European region, as well as the rising popularity of electronics products, are significantly contributing to the growth of the printed electronics market in Europe.
The Asia-Pacific region dominated the global printed electronics market, accounting for more than 45.00% of overall revenue. The high printed electronics market share can be attributed primarily to the growing use of printed electronics technology in consumer electronics applications.
During the forecast period, APAC printed electronics market is expected to maintain its leading position by growing at the fastest CAGR. This expansion can be attributed to the region's rapidly expanding electronics manufacturing sector.
Emerging printed electronics market such as China, South Korea, and Japan contribute significantly to the target market. The Asia-Pacific region, particularly China, is a manufacturing hub for electronics.
Companies are focusing on expanding their operations across different regions in order to meet rising consumer demand for printed electronics. Companies are focusing on emerging markets to expand their customer base through partnerships and acquisitions.
The printed electronics market is witnessing intense competition among key players for market understanding and dominance through rigorous R&D, innovative product launches, and improvements in printing capabilities. Companies are also entering into agreements to gain a competitive advantage in the printed electronics market.
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The global printed electronics market is primarily driven by the demand for printed electronics in from the electronics industry for various electronic products such as mobile phones, LED’s among others. The need for energy efficient products with high performance and cost effective manufacturing is fostering the growth for global printed electronics market.
The polymers used for printing being organic it has minimal effect on the environment and use of OLED (Organic Light Emitting Diodes) in the automotive industry, which is also contributing to the growth of printed electronics market globally.
However, some of the challenges associated with the printed electronics manufacturing such as the substrate thickness, uniformity and other materials related challenges such as the ink viscosity and printability might pose as a restraint to the market.
Based on the geographic regions, global printed electronics market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. Among the aforementioned regions, APEJ will dominate the printed electronics market over the forecast period.
The countries such as China, India, and South Korea will be the key contributor to the growth of printed electronics market in the region. The North America and Western Europe market for printed electronics market is followed by the APEJ market. Over the course of time the Latin America market for printed electronics is expected to pace up.
However, the APEJ market for the printed electronics market will hold the largest market share by the end of forecast period with promising growth rate over the forecast period.
Some of the major players identified in the global printed electronics market includes, Acreo Swedish ICT, PRINTED ELECTRONICS LTD, parc, Thinfilm, DuPont, Pragmatic Printing Limited and molex among others.
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