July 19, 2024

Rising Demand For Printed Flexible Sensors To Drive Growth Of Printed Electronics Market

The global printed electronics market is estimated to be valued at Us$ 7114.14 Mn in 2023 and is expected to exhibit a CAGR Of 5.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Key Takeaways

The Global Printed Electronics Market Demand is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing demand for lightweight, flexible and cost-effective electronic products.

Regional analysis

Asia Pacific dominated the global Printed Electronics Market in 2022 and is estimated to continue its dominance during the forecast period. This is attributed to the growing electronics manufacturing industry and consumer demand in countries such as China and Japan. North America is also expected grow significantly in printed electronics market supported by presence of major players and their investments in R&D activities.

Key players

Key players operating in the printed electronics market are Ensurge Micropower ASA, T+ink, Inc., NovaCentrix, Optomec Inc., Xerox Corporation, E. I. du Pont de Nemours and Company, Vorbeck, Materials Corporation, Inc., Intrinsiq Materials, Inc., BASF SE, E-Ink Holdings Inc., Molex.Inc, PARC, a Xerox company. These players are focusing on new product launches and collaborations with device manufacturers to strengthen their foothold in the market.

Market Overview

Printed electronics refers to electronic devices and circuits that are produced by printing various electronic components on flexible and non-flexible substrates using materials such as polymers, organic materials and nanoparticles inks. Printed electronics are finding large applications in smart packaging, wearables, electronic labels and healthcare sensors owing to advantages such as cost-effectiveness, versatility, light-weight and flexible nature. Printed electronics have potential to replace conventional silicon-based electronics in near future.

Market key trends

Growing demand for printed flexible and wearable sensors is a key trend in the printed electronics market. Flexible and printed sensors can detect vital signs, monitor health conditions and provide feedback to users. In healthcare sector, printed sensors are used in wound dressings, biosensors, implantable devices and personalized diagnostics. Increasing focus toward development of printed technologies such as printed RFID, OLED lighting, photovoltaic cells and electronic skins is also fueling market growth. Heavy investments in printed electronics by major players and ongoing research & development is expected to develop newer opportunities and spur market expansion over the forecast period.

Porter’s Analysis

Threat of new entrants: Low costs of entering the printed electronics market may attract new companies, however, existing players have established supply chains and production facilities which are difficult for new entrants to replicate.

Bargaining power of buyers: Large electronics companies that are primary buyers in this market have significant bargaining power over pricing and contracts due to their high demand volumes.

Bargaining power of suppliers: Due to availability of alternative suppliers for raw materials and printing techniques, the bargaining power of suppliers is moderate in this market.

Threat of new substitutes: Conventional electronic manufacturing processes pose as substitutes, however printed technology enables innovative form factors providing less threat from substitutes.

Competitive rivalry: Being an emerging technology, printed electronics players intensely compete on technological innovations.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it