Printed Electronics Market Size, Share & Trends Analysis Report By Material (Substrate, Ink), By Technology (Inkjet, Screen), By Device (Displays, RFID), By Region (Asia Pacific, Europe), And Segment Forecasts, 2022 - 2030

Report Overview

The global printed electronics market size was valued at USD 8.66 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 22.3% over the forecast period as printed electronic products are gaining rapid traction. The estimated escalation of the technology is attributed to its ability to be incorporated in a variety of dynamic application areas, such as the Internet of Things (IoT) and consumer electronics. The increasing penetration of IoT is providing several growth opportunities, widening the scope of printed electronics applications across the sector. In addition, the rising demand for advanced OLED displays and printed RFID devices are paving the way for increasing the adoption of the technology owing to its low production cost, higher efficiency, and low power consumption.

Printed electronics has been a significant research arena, focusing on continuous upgrades and improvisations to enhance the existing abilities and for exploring more applications across various fields. Increased investments in R&D by various associations, organizations, and manufacturers over the last few decades have led to several benchmarking innovations and developments in this technology. The end-product manufacturers majorly include the producers of consumer electronics, such as IoT devices, smartphones, display devices, and other communication devices.

The manufacturers implement the technology into various products based on the necessity and supply to the distributors or retailers for sales purposes. The prominent players in the industry are focusing on mergers and acquisitions or distribution partnerships to establish a grip in the emerging regional markets, such as the Asia Pacific. For instance, Thin Film Electronics ASA (U.S.) has signed a distribution agreement with a Chinese company, CymMetrik. The agreement aims toward the expansion of sales, particularly in China, Taiwan, India, and other nations in the Asia Pacific region. Printed electronics technology is experiencing high demand in this continent on account of the increasing consumer electronics manufacturing practices.

COVID-19 Impact Analysis

The COVID-19 pandemic had a slightly negative impact on the market. The initial strict lockdowns imposed by the governments of various nations, coupled with the strict travel restrictions, affected the day-to-day operations of the target market as well as the end-use industries, such as automotive, consumer electronics, etc. The supply chain disruptions became a major hindrance in the supply of raw materials as well as created a roadblock for the distributions and shipments. However, the target market was considerably fast in adapting to the challenges caused by the pandemic. It has helped provide smart solutions in the fight against COVID-19. Printed electronics are used in smart monitoring devices, printed sensors, smart patches, and smart masks among others. Several companies launched new products. In 2020, Henkel partnered with Byteflies and Quad Industries for a smart patch that is used for remote monitoring of patients. Although the demand for printed electronics from certain end-use industries declined during the initial months of the pandemic, the demand from the healthcare sector saw a rise in demand.

Material Insights

On the basis of materials, the global market has been further segmented into inks and substrates. The ink materials segment accounted for the largest share of more than 78.00% in 2021. The segment is expected to retain its dominant position growing at the fastest growth rate during the forecast period. The extensive application of printed electronics technology has enabled the considerable adoption of inks in various applications across different industrial sectors. Therefore, the segment is projected to contribute significantly to the growth of the overall market over the forecast period.

The substrate material segment is expected to witness the second-fastest growth rate over the forecast period. Printed electronics also extensively use flexible substrates. It lowers the cost of production and allows the fabrication of mechanically flexible circuits. The inkjet and screen-printing typically imprint rigid substrates like glass and silicon. While the mass-printing methods use flexible foil and paper. Polyethylene Terephthalate (PET) is the most commonly used material for substrate owing to its low cost and higher temperature stability.

Devices Insights

On the basis of devices, the global market has been further segmented into display devices, photovoltaic, lighting, RFID, and other devices. The display devices segment accounted for the largest share of more than 36.00% of the global revenue. The segment is anticipated to maintain its dominance over the forecast years. Printed electronics technology is undergoing a steady adoption rate in other devices segment that includes printed batteries, sensors, medical & healthcare, and media. The RFID device segment is witnessing notable traction across the globe owing to the increasing application of RFID in the rapidly growing packaging industry.

The RFID devices are witnessing rising demand in the packaging sector owing to their accuracy, authenticity, reliability, and cost-effectivity offered by them. On account of the aforementioned factors, the RFID device segment is expected to witness the fastest CAGR from 2022 to 2030. The photovoltaic devices segment also accounted for a significant revenue share in 2021 and will expand further at a steady CAGR from 2022 to 2030 on account of the rising usage of printed electronics in photovoltaic devices. The segment has a promising growth potential owing to the increased adoption of solar energy across the globe. The segment is one of the key enablers of the target market.

Technology Insights

On the basis of technologies, the global market has been further segmented into inkjet, screen, gravure, and flexographic technologies. The screen-printing technology segment dominated the global market in 2021 and accounted for the maximum share of more than 64.00% of the overall revenue. The segment is expected to continue dominating the global market over the forecast period. The screen-printing technology uses a mesh to transfer ink onto a substrate. High quality and durable outputs are obtained with this method of printing technology. However, the inkjet printing technology is estimated to witness the fastest growth rate over the forecast period.

Regional Insights

The segment growth can be attributed to the features of inkjet technology, such as compactness, the flexibility of printing, and low material consumption as well as wastage & initial setup costs. The inkjet printing technology involves directing ink onto a substrate. The inkjet technology is suitable for a wide range of scales in production. It is used for prototyping as well as large-scale industrial production. Ink consumption and material wastage are minimal with inkjet technology and it is flexible with regard to its positioning within a process.

The Asia Pacific region dominated the global market in 2021 and accounted for the largest share of more than 45.00% of the overall revenue. The high market share is mainly attributed to the increasing adoption of printed electronics technology in consumer electronics applications. The regional market of APAC is anticipated to retain its leading position growing at the fastest CAGR during the forecast period. This growth can be attributed to the rapidly growing electronics manufacturing sector in the region. Emerging countries, such as China, South Korea, and Japan, are significant contributors to the target market. In addition, the Asia Pacific region, especially China, is a hub of electronics manufacturing.

The printed electronics technology is projected to gain traction in the North America and Europe regions on account of the increasing investments in R&D and growing adoption of the technology in various industrial applications, such as photovoltaic, lighting, and RFID devices. These regions are estimated to witness steady growth rates during the forecast period. The increasing adoption of innovative technologies in the European region and the rising popularity of electronics products are significantly contributing to the growth of the target market in Europe.

Key Companies & Market Share Insights

Companies are focusing on expanding their business across different regions to cater to the growing consumer demand. Companies are targeting emerging markets to expand their customer base through partnerships and acquisitions. The marketplace is witnessing a focused competition between the key players for understanding the market and establishing domination via rigorous R&D, innovative product launches, and enhancements in printing capabilities. Companies are also engaging in agreements to gain a competitive edge in the market. For instance, in April 2021, E Ink Holdings Inc. formed an agreement with DATA MODUL, a company that provides touch, display, and embedded monitors, for reselling its products focusing on the U.S. and European markets. Some of the prominent players operating in the global printed electronics market are:

• BASF SE

• DuPont

• Molex, Inc.

• PARC, a Xerox company

• E-Ink Holdings, Inc.

• Thin Film Electronics ASA

Printed Electronics Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global printed electronics market report on the basis of material, technology, device, and region:

• Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Ink

  • Substrate

• Technology Outlook (Revenue, USD Million, 2017 - 2030)

  • Inkjet

  • Screen

  • Gravure

  • Flexographic

• Device Outlook (Revenue, USD Million, 2017 - 2030)

  • Displays

  • Photovoltaic

  • Lighting

  • RFID

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • Japan

  • South America

    • Brazil

  • Middle East & Africa