December 18, 2020
According to the research report titled ‘Global Printed Electronics Market Size study with COVID-19 Impact, by Printing Technology (Screen Printing, Inkjet Printing, Flexographic Printing, Gravure Printing and Others), by Application (Displays, Photovoltaic (PV) Cells, Radio-frequency Identification (RFID) Tags, Lighting, Sensors, Batteries and Others), by Material (Substrates and Inks), by End-Use Industry (Automotive & Transportation, Consumer Electronics, Healthcare, Retail & Packaging, Aerospace & Defense, Construction & Architecture and Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global printed electronics market was worth USD 6.4 billion in 2019 and is anticipated to record a y-o-y growth rate of 21.5% during 2020-2027.
Considerable cost advantages, surging demand for next-gen flexible and energy-efficient consumer electronics, and increasing usage in development of smart and connected devices are primarily driving the global printed electronics market growth.
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Notably, printed electronics results in inexpensive processing as compared to conventional methods of creating coils, capacitors, and transistors. In this procedure, inks and conductive polymers are printed out on the foils or fabrics. Printed electronics find wide variety of applications in several industries such as healthcare, media, electronics, and consumer goods.
Constant advancements and other planned alliances by major industry partakers is anticipated to augment global printed electronics market share in the coming years. Citing an instance, Agfa-Gevaert partnered with TFL, in February 2019, to develop Alussa, an inkjet printing solution to decorate superior quality leathers used in nautical, aviation, automotive, upholstery, and fashion industries.
The outbreak of COVID-19 pandemic has adversely affected global printed electronics market due to the imposition of work from home policy in companies, and subsequent temporary shutdowns of manufacturing sectors. Many firms have limited their manufacturing and supply operations disrupting the supply demand chain.
Coming to the pitfalls, knowledge gap between various disciplines involved in the development of printed electronics is likely to hamper the industry outlook over the assessment period.
Considering the regional terrain, prominent regions studied for worldwide printed electronics industry dynamics are Asia Pacific, Europe, Latin America, North America, and Rest of the World. As per the report, Asia Pacific currently dominates the overall market and is poised to witness substantial traction through 2027, on account of growing adoption of printed electronics technology in the consumer product applications.
Major companies impacting global printed electronics market trends are Ynvisible Interactive Inc., E Ink Holdings Inc., Novacentrix, BASF SE, DuPont de Nemours Inc., Nissha USA Inc., Molex LLC, Agfa-Gevaert N.V., Palo Alto Research Center (PARC), LG Electronics Inc., and Samsung Group.