According to the report, global printed electronics market was valued at USD 3.05 billion in 2015 and is expected to reach USD 10.26 billion in 2021, growing at a CAGR of 22.4% between 2016 and 2021.
Printable electronics are electronics systems, components, and sub-systems, which are produced by low-cost coating, patterning and printing processes usually done by solution processable inorganic and/ or organic materials. Printable electronics are usually fabricated on ambient temperature in contrast to conventional semiconductor electronics technologies. These technologies are usually based on high temperature evaporative inorganic metals/oxide substrates or thin film technologies example, Si, metal oxides and III/V. Capital and operating production costs are hence greatly reduced with the help of development of simpler processes which in turn enable new product concepts. The major advantages of printable electronics generally include low cost and the ability to fabricate lightweight flexible.
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The growth of printed electronics market is mainly attributed to growing demand for flexible printed electronics in the packaging industry coupled with increasing application in Internet of Things. In addition, low manufacturing cost, increasing demand for flexible electronics and environmentally friendly technology are some of the major driving factors are flourishing the market growth. Furthermore, rising demand from various industrial applications paired with increased investments is expected to contribute the market growth. However, complexity in manufacturing processes is expected to have the adverse impact on printed electronics market. Nonetheless, the trend of additive manufacturing paired with advantages of thin and flexible form for various applications is likely to open new doors for the printed electronics demand.
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Based on material, printed electronics market is classified into substrates the and inks. Substrates could be segmented into organic and inorganic substrate and inks. Inks are further segmented into dielectric inks and conductive inks. The substrate material segment is expected to be one of the fastest growing materials for printed electronics. The growth of substrates segment is mainly attributed to significant demand for the organic substrate as well as the inorganic substrate.
Ink-jet printing, flexography, screen printing, and gravure printing are the segments covered under technology. Screen printing is expected to hold the major market share of the technology in 2016. This high demand of screen printing technology from printed electronics manufacturers is due to its simplicity, speed, adaptability and affordability to the fabrication process.
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Based on application, global printed electronics market is bifurcated into sensors, displays, batteries, RFID, lighting, and photovoltaics. Lighting application segment is expected to grow at the highest rate in the forecast period. Sensor and displays application is expected to experience significant growth owing to demand touch sensors and Organic Light-Emitting Diodes (OLED) respectively.
Asia-Pacific is expected to account for the largest market share of the printed electronics market in 2016. The presence of major electronics manufacturing hub with robust manufacturing activities in countries such as China, India, Japan and South Korea is expected to be the major factor for the growth of this region. North America is expected to witness noticeable growth due to expected growth in the packaging industry. Latin America and European markets are predicted to grow at a consistent rate driven mainly by recent developments in applications of printed electronics.
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Major participants in the printed electronics space include Novaled AG, Nano Solar Inc., BASF SE, Emagin Corp., kovio Inc., Printechnologics GMBH, Polyic Gmbh & Co. Kg, Toppan Forms, Sipix Imaging Inc., Aveso Displays, Blue Spark technologies and E Ink Holdings Inc. amongst others.