Printed Electronics Market is expected to grow from USD 10.02 billion in 2021 to USD 39.54 billion by 2029, at a CAGR of 19.1% during the forecast period 2022-2029 : GreyViews

Pune India, June 21, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Printed electronics market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Printed electronics market is present across various countries in the above-mentioned regions.

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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the material, technology, applications, end use industry, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global Printed electronics market are Samsung Electronics Co., Ltd., LG Display Co., Ltd., Molex, LLC, Agfa-Gevaert Group, Palo Alto Research Center Incorporated, DuPont de Nemours, Inc., Nissha Co., Ltd., BASF, NovaCentrix, and E Ink Holdings Inc. among others. To achieve a substantial market share in the worldwide printed electronics market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Molex, LLC is one of the most significant manufacturers and distributors present in the global Printed electronics market.

Printed electronics involves a process of using printing technology for the production of different types of electronic goods including electronic circuits, sensors, displays, and RFID. It is the process of printing circuits on a different flexible substrates for the creation of electronic solutions. The variety of techniques used for electronic printing include screen printing,  rotogravure printing, vacuum evaporation, offset, roll-to-roll, flexographie, spin-coating, and inkjet printing.

The features including security, flexibility, and cost-effectiveness makes printed electronics appealing to an extensive range of industries. In addition, the printed electronics has a potential to reduce technical constraints and costs related to the mass production of electronics. Moreover, it facilitates wide ranging development of non-conventional functional electronic devices such as flexible displays, active clothing, smart labels, and animated posters among others. All of the aforementioned factors contributes to the global market growth.

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Scope of Printed electronics Market Report

Segmentation Analysis

Substrate segment is expected to be the fastest growing segment in 2021.

The material offering segment includes ink and substrate.. However, substrate segment is expected to witness highest growth rate during the forecast period. This is attributed to the huge demand for flexible substrates in printed electronics sector. Substrates helps in lowering the cost of production as well as enables fabrication of mechanically flexible circuits. On the other hand, in October 2021, Panasonic Industrial Devices Sales Company of America through its Electronic Materials Division launched BEYOLEX, a novel thermoset stretchable film for printed electronics. Emergence of such substrates is expected to create lucrative growth opportunities for the segment..

Inkjet printing segment is expected to be the fastest growing segment in 2021.

The technology segment includes inkjet printing, screen printing, flexographic printing, gravure printing, and other. However, inkjet printing segment is expected to witness considerable growth rate during the forecast period. This type of printing is used for printing the circuit patterns on the substrates similar to the traditional paper printers. Furthermore, ongoing developments in the inkjet printing has created lucrative growth opportunities for the segment. For instance, Notion Systems GmbH, a manufacturer of inkjet printing systems partnered with Scrona AG, one of the leaders in ultra-high resolution EHD (electrohydrodynamic) print heads. This partnership is aimed at the development and manufacture of high end printing systems for functional materials.

Automotive segment is expected to be the fastest growing segment in 2021.

The end use industry segment includes automotive & transportation, healthcare, consumer electronics, aerospace & defense, construction & architecture, retail & packaging, and others. Automotive sector is expected to witness highest growth rate during the forecast period. In automotive sector, the car dashboards are becoming increasingly integrated. In addition, the automotive companies are investing heavily in In-Mold Electronics (IME). Such factors are creating lucrative growth opportunities for printed electronics in automotive industry. In addition, Faurecia, the automotive parts supplier forecasted around $3.04 billion market for printed electronics in vehicles by 2025..

Regional Analysis                                                               

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Printed electronics include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

Asia-Pacific region witnessed a major share. This is mainly attributed to the fact that the Asia-Pacific region has become manufacturing hub for electronic components and devices. North America and Europe region are expected to witness considerable growth rate during the forecast period. Growth of these regions is mainly driven by significant R&D investment in printed electronics market, proliferation of electric vehicles, and demand for advanced consumer electronics products.

Country Analysis

Germany

Germany printed electronics market size was valued at USD 1.10 billion in 2021 and is expected to reach USD 4.32 billion by 2029, at a CAGR of 19.0% from 2022 to 2029.
Germany is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. In Europe, Germany is the leading electronics market in terms of production and sales. In addition, the country is recognized as the leader in research and innovation in microelectronics production. For instance, in November 2020, Merck KGaA officially launched its new Research Center for electronic applications at the headquarters in Darmstadt, Germany. The company has invested about $52.34 million for this research hub to further advance the innovation for the display and semiconductor sectors.               

China                                                                     

China printed electronics market size was valued at USD 2.10 billion in 2021 and is expected to reach USD 8.19 billion by 2029, at a CAGR of 18.9% from 2022 to 2029. China is the electronics manufacturing hub across the globe. In addition, the Chinese government is introducing innovative plans to expand its domestic electronics manufacturing sector. For instance, in January 2021, the Chinese government introduced expansion plans for the domestic electronic components market to $327 billion by 2023. Such plans are opportunistic for growth of the China printed electronics market.

India                                                                                         

India Printed electronics market size was valued at USD 0.78 billion in 2021 and is expected to reach USD 3.11 billion by 2029, at a CAGR of 19.2% from 2022 to 2029. In India, electronics sector contributes about 3.4% of the country's Gross Domestic Product (GDP). On the other hand, in January 2022, the Ministry of Electronics and Information Technology and the India Cellular and Electronics Association (ICEA) released five-year roadmap and vision for electronics sector in the country. As per this roadmap, electronics manufacturing in the country is expected to reach $300 Billion by 2026. This huge market of electronics manufacturing is opportunistic for growth of the India printed electronics market.  

Covid-19 Impact                                                

Covid-19 had a major impact on almost all of the industries such as construction, automotive, transport, manufacturing, consumer electronics, etc. The demand for printed electronics systems has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of printed electronics systems were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for printed electronics significantly decreased.

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