The global Printed Electronics Market is estimated to be valued at Us$ 4,771.9 Mn in 2021 and is expected to exhibit a CAGR Of 22.1% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The Printed Electronics Market refers to the manufacturing of electronic devices using printing technology. These devices offer various advantages such as flexibility, low cost, and lightweight. Printed electronics find applications in various industries including consumer electronics, healthcare, automotive, and aerospace. The need for technologically advanced products that can be produced at a lower cost has been a key driver for the growth of the printed electronics market.
Market Key Trends:
One key trend in the printed electronics market is the increasing adoption of wearable technology. With advancements in printing technology, wearable devices such as smartwatches and fitness trackers are becoming more popular. These devices incorporate printed electronic components such as sensors and flexible displays, providing users with real-time data on their health and fitness. The demand for wearable technology is expected to drive the growth of the printed electronics market during the forecast period.
Key Players: Ensurge Micropower ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck, Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E-Ink Holdings Inc., Molex.Inc, PARC, a Xerox company.
Threat of New Entrants: The threat of new entrants in the printed electronics market is moderate. Although the market offers opportunities for new players due to its high growth potential and increasing demand, the presence of established companies and the requirement of significant capital investment and technological expertise act as barriers to entry.
Bargaining Power of Buyers: The bargaining power of buyers in the printed electronics market is moderate. While buyers have the option to choose from a wide range of suppliers, they still face limitations due to the relatively limited number of key players in the market. Additionally, the high switching costs and the unique nature of printed electronics products provide some leverage to the suppliers.
Bargaining Power of Suppliers: The bargaining power of suppliers in the printed electronics market is moderate to high. The market relies on raw materials such as conductive inks, substrates, and chemicals, which are supplied by a limited number of suppliers. This gives suppliers some leverage in terms of pricing and quality control.
Threat of New Substitutes: The threat of new substitutes in the printed electronics market is low. Printed electronics offer unique advantages such as flexibility, lightweight, and low-cost production compared to traditional electronics. The lack of viable alternatives to printed electronics limits the threat of substitutes.
Competitive Rivalry: The competitive rivalry in the printed electronics market is high. The market is characterized by intense competition among key players, with numerous companies vying for market share. Factors such as technological advancements, product innovation, and pricing strategies determine the competitive landscape in the market.
The Global Printed Electronics Market Demand is expected to witness high growth, exhibiting a CAGR Of 22.1% over the forecast period. This growth can be attributed to the increasing demand for flexible and lightweight electronic devices in various industries such as healthcare, automotive, and consumer electronics. The market is driven by advancements in printing technologies and the rising adoption of Internet of Things (IoT) devices.
In terms of regional analysis, Asia Pacific is anticipated to be the fastest-growing and dominating region in the printed electronics market. The region’s growing population, rapid urbanization, and increasing disposable income contribute to the demand for printed electronics products. Additionally, the presence of key market players and government initiatives supporting the adoption of printed electronics further boost the market in this region.
Key players operating in the printed electronics market include Ensurge Micropower ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E-Ink Holdings Inc., Molex.Inc, PARC, a Xerox company. These companies focus on technological advancements, product innovation, collaborations, and mergers and acquisitions to strengthen their market position and expand their customer base.
In conclusion, the printed electronics market is expected to experience significant growth in the forecast period. With increasing demand and technological advancements, the market presents lucrative opportunities for both existing and new players. The Asia Pacific region is poised to lead the market, while key players continue to invest in research and development to stay competitive.