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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