The overall printed electronics market is estimated to reach USD 13.6 billion by 2023 from USD 6.8 billion in 2018, at a CAGR of 14.92% during 2018–2023. Major drivers for market growth are the rise in applications of printed electronics in IOT; significant cost advantages provided by printed electronics; and high demand for thin, robust, and flexible substrates for producing secure and cost-effective printed electronics.
Market for inkjet printing expected to grow at highest CAGR during forecast period
Inkjet printing is a contactless printing process used in applications requiring uniform thickness. Unlike screen printing, inkjet printing is used in emerging applications such as textile and industrial. Inkjet printing is also gaining high traction in commercialized applications, such as sensors, OLEDs, and PVs owing to its ability to digitally control the ejection of ink droplets of defined volume and precisely position them onto a substrate.
Printed displays expected to hold largest share of printed electronics market during forecast period
Printed displays are mainly used in consumer electronic products such as wearables and mobile devices. Increasing proliferation of lightweight, innovative, and flexible displays in consumer electronic devices is fueling the demand for printed displays. Rising demand for connected and IoT devices in the consumer electronics industry is also propelling the growth of the printed display market.
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The market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is a hub for various manufacturers of electronic devices and components. The growth can be attributed to the huge production of electronic components, increased investments in R&D in the region, and rapid economic growth in major countries in this region. Moreover, factors such as technological improvements, increased awareness regarding the benefits of printed electronics, and its ability to lower the production cost are also contributing to the growth of the printed electronics market.
Key Market Players
Key players in the printed electronics market include Samsung (South Korea), LG (South Korea), DuPont (US), BASF (Germany), Agfa-Gevaert (Belgium), Air Products and Chemicals (US), Nissha USA (US), NovaCentrix (US), Molex (US), E Ink Holdings (US), Ynvisible Interactive (Portugal), and Palo Alto Research Center (PARC) (US).
Samsung offers advanced solutions for displays and is one of the leading technology companies in consumer electronics and semiconductor products. The company is focused on collaborating with customers and establishing a close network with partners. As a result, the company has significantly gained traction in the printed displays market across geographies such as Asia, Europe, and the Americas. Samsung strategically works toward improving the ecosystem to accelerate the development of printed displays. The company works closely with material suppliers to ensure manufacturing of high-quality products and uninterrupted supply from the supply side.
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