Printed Electronics Market
The global Printed Electronics Market size was USD 8.66 Billion in 2021 and is expected to register a revenue CAGR of 22.3% during the forecast period, according to latest analysis by Emergen Research. Increasing applications of printed electronics in medical devices is a major factor driving market revenue growth. Printed electronics have aided in manufacturing of high-performance, cost-effective, and flexible medical devices such as smart sensors, displays, smart labels, smart Personal Protective Equipment (PPE), and others. They have also facilitated incorporation of various new features in these products. Technologies, such as smart labels and others, enable healthcare professionals to monitor a patient remotely and check for vital functions. In addition, printed electronics are also witnessing a large-scale application in medical implants, smart cards, and others, which is primarily attributed to their lightweight and compact nature. It is incorporated in devices that aid in tracking usage of drugs and alerting patients as and when required.
However, high costs associated with manufacturing of printed electronics and disruption in supply chain of components, materials, and others are major factors restraining market revenue growth. When it comes to new technologies significant costs are attached to research & development activities. Also, there are costs of raw materials, equipment, and others that significantly contributed to increased overall cost of manufacturing printed electronics. In addition, the Russia and Ukraine war has majorly dented supply chain, since Ukraine and Russia are major sources of neon and hexafluorobutadiene gases that are primarily used in manufacturing of semiconductor chips. In addition, Russia is prominently known for its large presence of automotive manufacturers. The war has significantly impacted demand in Printed Electronics Market industry.
Some Key Highlights From the Printed Electronics Market Report
- The ink segment accounted for a significant revenue share in 2021. Increasing demand for conductive inks for printing Printed Circuit Boards (PCBs) is a key factor driving revenue growth of this segment. Primary advantage of utilizing conductive inks in Three-Dimensional (3D)-printed electronics is their flexibility. This type of ink is also susceptible to various printing technologies such as inkjet printing or aerosol printing. In addition, electronics system manufacturers significantly invest and spend a considerable amount of time tuning the material before used in systems. This aids in achieving high product standards and in customer retention.
- The flexographic segment accounted for a moderate revenue share in 2021. Increasing demand for reliable and cost-effective printed electronics in automotive & transportation industries is a major factor driving revenue growth of this segment. Printed electronics are widely used in these industries due to their wide variety of features, robustness, and others. In addition, rapid adoption of technologies, such as adaptive cruise control and others, have significantly aided in the segment’s revenue growth. Flexographic printing offers various advantages to electrical and electronics industries professionals. For instance, it enables printing on a wide variety of both porous and non-porous surfaces and enables printing millions of images with one template.
- The Radio-Frequency Identification (RFID) segment accounted for a moderate revenue share in 2021. Increasing demand for RFID tags in the logistics industry is a crucial factor driving market revenue growth. It is mainly due to rapid adoption of tracking systems in warehouses and machine shops. Industry professionals also benefit from RFID due to easy monitoring and better managing of warehouse inventory, tracking shipments, and others. Also, significant investments in online shopping platforms have aided in rapid adoption of RFID in various regions. Therefore, companies, such as Flipkart, Amazon, and others, are deploying RFID tags to ensure that right product is delivered to the customer within specified timeframe.
- The North America market accounted for a moderate revenue share in 2021. Increasing demand for reliable and high-performance electronics in the packaging industry is a major factor driving market revenue growth in this region. In addition, medical Original Equipment Manufacturers (OEMs) in this region, such as Johnson & Johnson, Abbott, and others, significantly invest in incorporating printed electronics in their equipment and devices. Printed electronics offer various benefits to the manufacturing industry, for instance, flexographic printing is a method widely adopted due to its ability to print and cure a layer of ink. Other widely used printing technologies, such as rotogravure, are capable of providing fastest way to print electronics in the industry. Increasing consumer demand for innovative display products is another major factor driving market revenue growth throughout the forecast period.
- Some major companies in the global market report include BASF SE, E Ink Holdings Inc., Enfucell, Molex, NovaCentrix, PARC, a Xerox Company, Ensurge Micropower ASA, AUO Corporation, Cymbet Corporation, BrightVolt Solid State Batteries, Blue Spark Technologies, Inc., and C3Nano.
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