A fresh business intelligence study by Transparency Market Research has observed that the shares in the global printed electronics market are distributed among a large pool of players and that the fragmented scenario will sustain in the near future too. That being said, some of the players who are ahead of the curve, such as Samsung Electronics Co. Ltd., Intrinsiq Materials, Xerox Corporation, Optomec Inc., and Thin Film Electronics ASA, are readily indulging in strategic activities of takeovers, mergers, and joint ventures in order to expand their geographical presence and strengthen their moderate stronghold. In addition to that, prominent companies of this market are also focused on the development of advanced technologies and hence are investing on R&D activities. For instance, inkjet has emerged as a tool for high quality printing via robust pixel accuracy. 3D printing is also opening new opportunities for the players.
Printed Electronics Market to be worth US$65.0 bn by 2024
If the projections of the TMR report are to be believed, the opportunities in the global printed electronics market will aggregate for a revenue of US$65.0 bn by the end of 2024, incrementing at a notable CAGR of 11.0% during the forecast period of 2016 to 2024. The analysts have evaluated that the market was worth merely US$25.4 bn in 2015. As far as the futuristic competitive landscape is concerned, increasing number of regional and domestic players are expected to make a foray and eat into the shares of market leaders. BASF SE, DuPont, E-Ink Holdings, Inc., Molex, Inc., and PARC are some of the other notable players currently active in the global printed electronics market.
Based on materials, the TMR report has segmented the printed electronics market into substances including organic materials of polymers and paper and inorganic materials of glass and silicon and inks which can be conductive and dielectric. Technology-wise, the market has been bifurcated into gravure printing, flexography, and screen printing, with the latter providing for the maximum demand in 2015, owing to its extensive usage in circuit board printing, product labels, displays, and thick film technology. Application-wise, the market has been classified into retail and packaging, automotive, display, and electronics. Geographically, Asia Pacific has been highlighted as the region with maximum potential, with the emerging economies of China, India, and Japan providing for the most prominent chunk of demand.
Growing Usage of Smart Labels Driving Demand
Increasing application of printed electronics in the emerging field of the Internet of Things (IoT), escalating demand for flexible displays that help in demonstrating information to every eyeball they catch in an attractive manner, increasing adoption of organic materials for the production of printed electronics as they lead to lowed printing prices and flexibility of displays, growing usage of smart labels in order to track the products during transportation, advent of active clothing, and growing usage of animated and decorative posters are some of the factors boosting the demand in the global printed electronics market. In addition to that, some the trends that are primed to aid the prosperity of the global printed electronics market are: growing need for energy-efficient products, adoption of printed electronics in photovoltaic segment, introduction of 3D printers, and adaptability of printed electronics in automotive technologies.
Lack of Awareness among Manufacturers Holding Market’s Prosperity
On the other hand, the complexity of manufacturing processes pertaining to printed electronics, challenges pertaining to electrically functional inks, and lack of awareness among several potential manufacturers are some of the restraints obstructing the prosperity of the global printed electronics market.
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The information presented in this review is based on a Transparency Market Research report, titled, “Printed Electronics Market (Materials – Substances (Organic Materials (Polymers and Papers) and Inorganic Materials (Silicon and Glass), Inks (Dielectric Inks and Conductive Inks); Technology – Flexography, Ink-jet Printing, Gravure Printing, and Screen Printing; Application – Automotive, Retail and Packaging, Electronics, and Display) – Global Industry Analysis Size Share Growth Trends and Forecast 2016 – 2024.”