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Albany, New York, March 29, 2019 (GLOBE NEWSWIRE) -- The printed electronics market depicts a fragmented and highly competitive landscape, with key players operating across the global. Minimum material consumption and high-speed fabrication are the key aspects which players are focusing to fortify their foothold in the market, notes Transparency Market Research (TMR). Apart from this, players are emphasizing on improving their geographical presence through mergers and acquisitions to improve their market presence. Top players in printed electronics market are ramping their investing in automotive applications to increase their revenue.
Maintaining low manufacturing costs and energy-efficiency through the printed electronics technologies are key trends, which will decide dominance of players over the printed electronics market in the coming years, adds TMR. For instance- on 18th March 2019, Samsung Electronics Co. launched air conditioners with triple inverter technology. As per the company these AC consume less power, thus providing greater cooling efficiency. Some of the prominent players operating in the global printed electronics market are DuPont EONHARD KURZ Stiftung &Co. KG, Agfa-Gevaert N.V., Ynvisible Interactive, E Ink Holdings Inc., and BASF SE.
The global printed electronics market was noted at a valuation of US$25.4 bn in 2015. The market is projected to touch a worth US$65.0 bn by the end of 2024. The global printed electronics market is expected to rise at an impressive 11.0% CAGR during the forecast period.
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Out of various application segments, the demand for printed electronics is expected to rise in retail and packaging between 2016 and 2024 owing to the widespread acceptance of smart packaging in several industries. On the basis of geography, Asia Pacific is projected to dominate the global printed electronics market as the automotive industry in this region is expanding at a phenomenal rate. Apart from this, high demand for printed electronics from countries like China, Japan, and India contributes to growth of the region.
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Advent of Flexible Electronics to Open a Lucrative Avenue for the Market
Printed electronics refers to a technique used to develop electronic circuits by printing on different substrates. As demand for thinner electronics expands, printed electronics would increasingly be used in the form of electronic skin patches, flexible keyboards, and antennas. Apart from this, widespread adoption of intelligent labels and packaging are expected to bolster growth in the global printed electronics market.
The advancements in flexible technologies have offered a huge demand for printed electronics that are integrated into wearable electronics. Wearables like smart watches and activity trackers which have recently started witnessing a high demand, are expected to witness a strong growth during the latter half of the forecast period. This is expected to boost the global printed electronics market in the coming years.
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Blooming Automotive Industry, a Key Consumer
Despite being a fast growing market, growth in the global electronics market is likely to suffer through several challenges faced by printed electronics manufacturers. One of them is the requirement to carry out intense testing to cater to new applications.
The growth of automation industry is expected to contribute towards rising demand for printed electronics like printed sensors and printed memory. Sensors, diodes, and dimming elements in lighting panels and OLED displays are prominent applications of printed electronics in the automotive industry. This is expected to offer lucrative avenues for the global printed electronics market.
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This review is based on Transparency Market Research’s 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.”
Global printed electronics market has been segmented as:
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