The printed electronics market is estimated to reach USD 13.0 billion in 2023, which will increase to USD 42.4 billion, propelling at an 18.5% compound annual growth rate, by 2030.
The growth of this industry is because of the rising need for printed electronic products across different sectors, the enhancing consumer electronics sector, and the substantial cost advantages provided by printed electronics.
In 2023, the screen printer category, on the basis of printer components, is the largest contributor to the industry, with a 25% share. This can be because of the rising utilization of screen-printing technology to manufacture sensors and displays. It is primarily employed in producing displays for high commercial devices like smartphones and laptops.
The inks category, based on material components, will advance at a higher rate, of 19.0%, in the years to come. This is because of the increasing utilization of metal-based inks in producing electronic components as well as their benefits like cost-effectiveness, enhanced product performance, and low-temperature capabilities.
The substrate category will propel at the second-highest rate during this decade. This is because it is employed as a flexible substrate, making it possible to produce mechanically flexible circuits, therefore decreasing manufacturing expenses.
The display category, based on application, is the largest contributor to the printed electronics market. These displays comprise electroluminescent displays, electronic paper, and OLEDs. This resulted in the growth of developed functionality flexible screens as well as designing devices, which are employed across different fields like automobiles, wearable technology, and consumer electronics.
The automotive & transportation category, based on end user, is leading the industry, and it is also likely to observe the highest growth, during this decade. This can be because of the rising usage of IoT in automotive applications, which need high data processing capacity as well as high bandwidth to assist data types and networks for connected devices demanding remote collection and sensing.
The construction & architecture category will propel at a significant rate during this decade. This is ascribed to the increasing usage of printed electronics in energy-efficient lighting, building-integrated sensors, and smart building systems.
APAC is leading the industry in 2023, and it will also propel at the fastest rate during this decade. This will be because of the rising need for robust and flexible substrates for printed electronic circuits, the increasing end-use sectors, and the surging penetration of IoT technology in this region.
In addition, the continuous progression in digital printing technology as well as the low manufacturing price, are also aiding the regional industry expansion.
It is because of the advancing consumer electronic sector; the printed electronics industry will continue to advance in the coming years.
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