The global printed electronics market is projected to reach USD 23.0 billion by 2026 from an estimated USD 9.9 billion in 2021, at a CAGR of 18.3% from 2021 to 2026. Major factors driving the growth of the market include increased demand for printed electronic products in automotive and transportation industry.
In 2020, screen printing held the largest size of the printed electronics market, and a similar trend is likely to be observed during the forecast period. The growth can be attributed to several benefits, including the ability to directly integrate electronics functionality on a wide range of substrates such as plastic films (PET, PC), glass, and silicon, and cost-effectiveness. At present, high-precision screen printing techniques are used to integrate many other functionalities, including sensors, antennas, touch controls, and heaters, that find applications in sports & healthcare wearables, automotive interiors, and smart objects.
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In 2020, inks held the larger share of the printed electronics market, and a similar trend is likely to be observed during the forecast period. Conductive inks dominate the overall printed electronics market for inks. The growth is attributed to the rising adoption of conductive inks due to their various benefits—conductivity, suitability for printing substrates, processing simplicity, mechanical flexibility, ability to assign new properties, capabilities, and complex functionalities.
In 2020, displays held the largest share of the printed electronics market. Printed displays are mainly used in consumer electronics such as wearables and mobile devices. Increased demand for energy-efficient, thin, and flexible consumer electronics products fuels the demand for printed displays globally.
Competition in the automotive industry is increasing, and all existing players are competing to obtain the largest share in the market by equipping their vehicles with innovative features and functionalities. For instance, automobile companies are deploying printed electronics technology-enabled remarkable quality displays, lighting, and capacitive touch sensors, collectively known as in-mold electronics, in the curved interior surfaces of their cars. Owing to this, the automotive & transportation industry held the major share of the printed electronics market in 2020.
In 2020, APAC held the major share of the printed electronics market. The market growth in APAC is attributed to the increasing adoption of thin-film PV cells to meet the energy requirements of the region using renewable sources of energy. Additionally, the increase in demand for highly advanced printed electronics for consumer electronics is also driving the growth of the market.