Market Dynamics
Market Research Future (MRFR) presumes that the printed electronics market 2020, after touching a valuation of USD 6.24 billion in 2018, can now reach USD 11.50 billion by 2023. MRFR also confirms that the market can advance at a rate of 13.0% over the appraisal period (2018–2013). We will provide COVID-19 impact analysis with the report, offering an in-depth review of the market following the coronavirus disease outbreak.
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Market Segmentation
The Printed Electronics Market Forecast has been segregated into printing technology, application as well as industry vertical.
The printing technologies considered in the study include screen printing, inkjet printing, gravure printing, flexographic printing, and others.
Application-wise categories are RFID tags, displays, photovoltaics, batteries, lighting solutions, sensors, and more.
Industry verticals that deploy the technology are consumer electronics, aerospace and defense, healthcare, retail and consumer goods, automotive, and others.
Regional Insight
The geographic distribution of the printed electronics market comprises North America, APAC/Asia Pacific, Europe, and RoW/rest of the world.
MRFR deems North America with the highest potential to clinch the top position in the global market. As a highly advanced region, there is higher uptake of modern technologies, especially in the semiconductor industry. The printed electronics market has incredible growth potential in the region, due to extensive application scope in consumer electronics and automotive industries. It is anticipated that the US can take the lead in the regional market, thanks to the growing investments in R&D coupled with the rising consumption of the technology in applications such as lighting, RFID devices and photovoltaic.
The APAC market can witness the fastest expansion in the years ahead, as a result of the easy availability of low priced technologies combined with the high concentration of well-established electronic devices manufacturing vendors. The APAC market is the most lucrative in countries like India, Japan, and China, because of the thriving electronic manufacturing industry.
COVID-19 Analysis
Health-care professionals, governments and industries are struggling to deal with the after effects of the COVID-19 outbreak, with the use of artificial intelligence, big data and predictive analysis, in every way possible to reduce the spread of the pandemic. The printed electronics market is on the brink of massive financial crisis due to ceased production, price volatility and disruption in supply. For this, manufacturers are stepping up to address the soaring demand; however, the lack of raw materials can be a huge challenge for the industry.
However, printed electronics are observing huge demand across various industries like healthcare, retail and automotive post SARS-CoV-2, given the rising use of electronic devices for smart applications owing to closure of gyms, schools, restaurants, theaters, and various public venues. There has been a decline in social interactions, which has led to significant curb on people’s mobility that helps reduce the spread of novel coronavirus. Countries are working on finding a COVID-19 breakthrough; printed electronics manufacturers are doing everything in their capacity to curb the revenue loss during the lockdown period. Despite the COVID-19 impact, it can be assumed that the printed electronic market can witness sustained growth due to mitigation measures being taken by governments and leading players.
Growth Inducers and Main Restraints
The massive traction gained by the Printed Electronics Market Forecast has been result of its ability to be integrated into various dynamic applications such as consumer electronics and IoT. The growing popularity of IoT has given way to a host of lucrative opportunities, boosting the printed electronics application scope across industries. Also, the soaring demand for printed RFID devices and advanced OLED displays work in favor of the technology, given its higher efficiency, low power consumption as well as low production cost.
Over the years, printed electronics has been subjected to vigorous research, leading to continuous improvisations and upgrades that have boosted its capabilities and applications across diverse fields. Heavy spending on R&D by various organizations, manufacturers and associations has also resulted in multiple benchmarking advancements and innovations in the market, leading to higher profits.
A majority of renowned manufacturers are using the printed electronics technology to develop various products depending on the demand of distributors and consumers. Many of the leading vendors are focused on partnerships and mergers and acquisitions to expand their presence in untapped markets of emerging regions. To cite a reference, Thin Film Electronics ASA (U.S.) entered an agreement with CymMetrik (China) for the expansion of sales in countries like China, India, and Taiwan, among others.
Significant Competitors
Significant competitors in the printed electronics industry include E Ink Holdings (Taiwan), FM Systems (US), SAMSUNG (South Korea), Brightvolt (US), Xerox (Palo Alto Research Center) (US), Thin Film Electronics (Norway), Molex (US), Novacentrix (US), Intrinsiq Materials (US), Agfa-Gevaert (Belgium), BASF (Germany), to mention a few.
Recent Updates
May 2020
HENSOLDT along with Nano Dimension, a leading printed electronics provider, has successfully achieved a significant breakthrough while studying the use of 3D printing in developing high-performance electronics components. With the use of recently created conductive ink and dielectric polymer ink from Nano Dimension, the company managed to assemble the first-ever ten-layer printed circuit board that can carry high-quality electronic structures soldered to outer sides.
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