Printed Electronics Market Size, Share & Industry Analysis, By Technology (Inkjet Printing, Screen Printing, Gravure Printing, Flexographic Printing, and Others), By Material (Ink and Substrate), By Application (Displays, Photovoltaic, Lighting, RFID, and Others), By End-user (Healthcare, Aerospace & Defense, Automotive & Transportation, Consumer Electronics, Construction & Architecture, Retail & Packaging, and Others), and Regional Forecast, 2024 - 2032

The global Printed Electronics Market size was valued at USD 11.74 billion in 2023 and is projected to grow from USD 13.80 billion in 2024 to USD 69.54 billion by 2032, exhibiting a CAGR of 22.4%. North America dominated the global market with a share of 18.06% in 2023.

Printed electronics is a set of printing methods used to generate electronic devices by printing on a diversity of substrates, such as paper, plastics, or even fabric. It involves the deposition of conductive, semiconductive, or insulating inks onto these substrates to form functional electronic components, such as transistors, capacitors, and sensors. This technology enables the production of flexible, lightweight, and potentially low-cost electronic devices, with applications ranging from RFID tags and flexible displays to sensors and smart packaging. It has a comprehensive range of applications in numerous industries, including electronics, consumer goods, media, and healthcare, among others. They are a modern technology, and the implementation of the technology between the industries mentioned above is high due to its potential benefits, such as thickness, flexibility, and cost, among others. For instance,

• Nissha GSI, a photography printing firm, has formed the Transdermal Medical Patch. This patch is a wearable electrical device that uses sensors and conductive silver inks to help provide medical information to patients. The usages for the patch range from glucose observation to temperature reading.

However, the COVID-19 pandemic had a slightly significant impact on the market. The initial strict lockdowns forced by the governments of several nations, combined with the strict travel restrictions, exaggerated the day-to-day operations of the target market and end-user industries, such as automotive, consumer electronics, and others. Supply chain disruptions become a major hindrance to the supply of raw materials and create a roadblock for distribution and shipments. However, the target market was significantly fast in acclimating to the challenges caused by the pandemic.

IMPACT OF GENERATIVE AI

Generative AI Implementation to Enhance Operations and Generate Market Prospects

Generative AI could potentially impact the printed electronics market by optimizing design, reducing material waste, and accelerating innovation. It can generate complex patterns for conductive traces, antennas, and sensors, enhancing performance and efficiency. Furthermore, it can aid in designing custom circuitry for specific applications, leading to advancements in fields, such as flexible electronics and IoT devices.  Moreover, it facilitates the creation of intricate, high-performance circuitry that traditional design methods might overlook, leading to improved functionality and efficiency. Therefore, generative AI accelerates innovation, unlocking new possibilities for applications in various industries, from healthcare to consumer electronics. Thus, this factor boosts the growth of the printed electronics market.

Printed Electronics Market Trends

Rising Adoption of Smart Packaging Over Traditional Packaging to Fuel Market Growth

Smart packaging is achieving prominence globally. It is anticipated to quickly replace traditional packaging, as it allows quality control and shipment tracking of the packaged products. Smart packaging usually uses Radiofrequency Identification (RFID) technologies and Near-Field Communication (NFC) to unite manufacturers with their clients and confirm the validity of different products, including perfumes and wines. Rewritable chips can be used as labels for smart packaging and are anticipated to replace the traditional bar code labeling system. Smart packaging uses printed electronics as they are lightweight, thin, efficient, and tough. Packaging with integrated electronics unwraps innovative communication channels between the digital and the real worlds. This is anticipated to aid companies in focusing on individual clients and identifying their consumer service delivery. Therefore, this factor is expected to drive the global printed electronics market growth.

Printed Electronics Market Growth Factors

Increasing Demand for IoT among Several Applications to Drive the Market Pace

The increasing usage of IoT is opening up new growth opportunities for printed electronics applications across the board. Furthermore, the growing demand for printed RFID devices and improved OLED displays is paving the way for better use of the technology owing to its low power consumption, high efficiency, and low production cost. Printed electronics has been a major research area, with importance on continuing improvements and improvisations to recover existing capabilities and explore innovative applications in a range of disciplines. Several technological developments and benchmarking advancements have resulted from improved R&D investments by several organizations, groups, and corporations over the previous few decades. Hence, this factor drives the market growth.

RESTRAINING FACTORS

Higher Investments in New Technologies May Hinder Market Growth

When it comes to innovative technologies, cost reduction is frequently a resilient driver of R&D efforts. However, the cost of new equipment and materials for printed electronic research is very high. Industrialists thus need a vast focus on R&D to generate value beyond cost reduction, such as lightweight, thinner, flexible, and robust products. Decisions regarding savings in certain technologies will be ruled by their measurable properties. The expansion of new technologies also necessitates trained personnel and precision machinery, in addition to the overall costs. Therefore, the higher investment involved in these slackens down the market growth.

Printed Electronics Market Segmentation Analysis

By Technology Analysis

Increasing Production of Screen Printing in Electronic Applications Propelled Segment Growth

On the basis of technology, the market is categorized into inkjet printing, screen printing, gravure printing, flexographic printing, and others.

The screen printing segment held the largest market share in 2023. This printing is widely used in printed electronics for several reasons. It offers versatility in printing on various substrates, including flexibility and rigid materials, making it suitable for a range of applications. Additionally, the screen-printing technology uses a mesh to hand over ink on a substrate. High-quality and resilient outputs are attained with this method of printing technology. Hence, this factor promotes the segment growth.

Hence, the inkjet printing segment is expected to grow at the highest CAGR during the forecast period. This printing offers digital control over the deposition process, enabling rapid prototyping and customization. Furthermore, it is a non-contact printing method, minimizing substrate damage and enabling printing on delicate or flexible materials. This printing has found applications in various fields, such as RFID tags, flexible displays, sensors, and even organic photovoltaics, driving its adoption in the industry. Thus, this factor boosts the growth of the market.

By Material Analysis

Rising Adoption of Inks to Boost the Segmental Growth

On the basis of the material, the market is categorized into ink and substrate.

The ink segment dominates the market with the maximum global printed electronics market share and is expected to continue its dominance during the forecast period. The adoption of ink is fundamental to the entire process. Conductive, semiconductive, and insulating inks are utilized to create electronic components and circuits directly onto substrates. These inks are specially formulated to be compatible with printing techniques, such as screen printing, inkjet printing, and flexography. The extensive application of printed electronics technology has enabled the considerable adoption of inks in various applications across different industrial sectors. Thus, these factors play a vital role in driving the growth of the market.

In addition, the substrate segment is projected to grow at the highest CAGR during the forecast period. The adoption of substrate have improved the performance and reliability of printed electronic devices, making them more attractive for various applications. Substrates offer cost advantages compared to traditional semiconductor materials such as silicon, making printed electronics a more economical choice for certain applications, especially those requiring large-area production. Therefore, these factors boost the market growth.

By Application Analysis

Growing Adoption of Displays Due to their Flexibility Boosted Segmental Growth

On the basis of the application, the market is categorized into displays, photovoltaic, lighting, RFID, and others.

The displays segment held a larger market share in 2023. The segment is anticipated to maintain its dominance over the forecast period. The adoption of display applications in printed electronics is gaining traction due to their flexibility, low-cost manufacturing, and potential for large-scale production. Printed displays offer opportunities for innovative form factors and applications, ranging from wearable devices to IoT devices and beyond. Moreover, this technology is experiencing a steady adoption rate in other devices segment that includes sensors, printed batteries, medical & healthcare, and media. Hence, this factor boosts the segment growth.

Moreover, the RFID segment is projected to grow at the highest CAGR during the forecast period. Printed RFID tags offer benefits, such as low-cost manufacturing, flexibility, and integration into a variety of surfaces and materials. These tags are used in various applications, including inventory management, supply chain tracking, smart packaging, and asset tracking. Moreover, the segment is perceiving prominent traction across the globe due to the growing application of RFID in the rapidly growing packaging industry. Thus, this factor boosts the segment growth.

By End-user Analysis

Rising Adoption of Electronic Sensors in the Automotive & Transportation Sector Boosted Segment Growth

On the basis of the end-user, the market is categorized into healthcare, aerospace & defense, automotive & transportation, consumer electronics, construction & architecture, retail & packaging, and others.

The automotive & transportation segment held the largest market share in 2023. Printed electronics enable the production of lightweight, flexible, and customizable components, making them ideal for various applications within vehicles. These are also used in sensor technology for automotive applications, such as pressure sensors for tire pressure monitoring systems and occupancy sensors for airbag systems. These sensors can be printed directly onto surfaces, enabling more efficient and cost-effective manufacturing processes. Hence, this factor boosts the segment growth.

Moreover, the healthcare segment is expected to grow at the highest CAGR during the forecast period. In this, printed electronics play a vital role in the fabrication of disposable diagnostic devices, such as biosensors and lab-on-a-chip systems. These devices can be mass-produced at a low cost, making them ideal for point-of-care testing and remote healthcare settings. Furthermore, it enables the production of smart drug delivery systems and implants. Thus, this factor fosters segment growth.

REGIONAL INSIGHTS

Based on region, the global market is segmented into Asia Pacific, North America, Europe, South America, and the Middle East & Africa. They are further classified into countries.

North America holds the largest share of the market. The highest market share is due to the strong presence of research and development institutions and robust manufacturing infrastructure, which has contributed to the advancement and adoption of printed electronic technologies. In addition, the region has many key players in the electronics industry, driving innovation and commercialization in areas, such as flexible displays, RFID technology, and smart packaging. Thus, this factor promotes the market growth.

Asia Pacific is expected to register the highest growth in terms of CAGR during the forecast period. Countries, such as China, Japan, South Korea, and Taiwan are leading the way in the research, development, and manufacturing of printed electronic components and devices. The region’s strong presence in electronics manufacturing, coupled with its focus on innovation and technology, has propelled the region to the forefront of printed electronics adoption. Additionally, government initiatives across the region are gaining momentum due to their potential to revolutionize various sectors, from healthcare to transportation, are the key drivers of market growth in this region.

Europe is anticipated to exhibit steady growth over the forecast period. The region has significant growth in sectors, such as automotive, healthcare, and consumer electronics, where printed electronics offer advantages, such as lightweight, flexible, and cost-effective solutions. Several European countries in the region, including Germany, the U.K., France, and Finland, are at the forefront of research, development, and commercialization in printed electronics. Thus, these factors boost the market growth.

Similarly, South America is showing substantial growth in this market due to its growing interest in sustainable and low-cost technologies. These electronics offer opportunities for environmentally friendly production processes and materials, as well as cost-effective solutions for local industries. Moreover, partnerships and collaborations with international organizations and companies are helping to accelerate the adoption of the electronics in the region.

Furthermore, the Middle East & Africa (MEA) market is set to witness prominent growth over the forecast period due to rising investments and government funding for digitization.

List of Key Companies in Printed Electronics Market

Leading Companies Emphasize Collaborations to Boost Their Market Presence

Major participants in the market are offering customized solutions for specific industries to boost their global presence. They are tactically making collaborations and procuring local companies to form strong positions in different regions. Key players are focused on creating real marketing approaches and offering novel solutions to maintain and increase their market shares. Hence, surging adoption of printed electronics applications is paving the way for market players.

List of Key Companies Profiled:

• Samsung Electronics Co., Ltd. (South Korea)


• LG Display Co., Ltd. (South Korea)


• Molex, LLC (U.S.)


• Agfa-Gevaert Group (Belgium)


• Palo Alto Research Center Incorporated (PARC) (U.S.)


• DuPont de Nemours, Inc. (U.S.)


• Nissha Co., Ltd. (Japan)


• BASF (Germany)


• NovaCentrix (U.S.)


• E Ink Holdings Inc. (Taiwan)

KEY INDUSTRY DEVELOPMENTS:

• August 2023: DuPont acquired Spectrum Plastics Group. The acquisition is anticipated to increase complete top-line growth rates for DuPont via a wider and more integrated set of aids for critical healthcare applications led by user-driven innovation.


• July 2023: BASF offered its higher-performance UV acrylic hotmelt acResin through a zero product carbon footprint. The new products are indistinguishable in properties and quality from their conservative counterparts.


• October 2022: Samsung Electronics Co., Ltd. declared the accessibility of matter functionality, permitting seamless device control through the SmartThings app. From this update, consumers can control their Matter devices via a single application instead of increasing the number of apps from various device manufacturers.


• June 2022: Molex, LLC declared the profitable availability of the Molex Quad-Row Board-to-Board Connectors. These patent pending connectors bid device manufacturers and product developers greater flexibility and freedom to provision compact form factors, including smartwatches, smartphones, wearables, and Augmented Reality/Virtual Reality devices.


• May 2022: NovaCentrix introduced the release of the new product- jettable gold ink, for electronics, biomedical and high-corrosion environments. The launch of the product benefits by drying, sintering, and soldering at an industrial scale on low-temp heat-sensitive substrates without damage.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

Report Scope & Segmentation