CHICAGO, Oct. 19, 2021 /PRNewswire/ -- According to a research report "Printed Electronics Market with COVID-19 Impact Analysis by Printing Technology (Screen Printing, Inkjet Printing), Application (Displays, PV Cells), Resolution, Material (Inks, Substrates), End-use Industry, and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the 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. Increased demand for printed electronic products in automotive and transportation industry and growth of the consumer electronics industry are among the factors driving the growth of the printed electronics market.
The printed electronics market is projected to grow at a CAGR of 18.3% from 2021 to 2026
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. The growth of the market is mainly driven by the increased use of printed electronics for the development of smart and connected devices, rise in the global demand for energy-efficient, thin, and flexible consumer electronics, high demand for new generation flexible printed electronics, and significant cost advantages offered by printed electronics.
In 2020, screen printing held the major share of the printed electronics market
In 2020, screen printing held the major share of the printed electronics market. The growth can be attributed to the increased use of screen printing for manufacturing displays and sensors. Screen printing is the most used technology for manufacturing displays of commercialized devices such as smartphones and laptops; it is also used to develop sensors and photovoltaic (PV) cells by enabling the precise printing of thin and thick lines on substrates. Moreover, screen printing offers a simplified application of a variety of inks and dyes, which are highly durable and flexible.
The lighting segment is projected to grow at the highest CAGR from 2021 to 2026
The lighting segment of the printed electronics market is expected to grow at the highest CAGR during the forecast period owing to an increase in the use of printed electronics in automotive lighting solutions and home appliances. The rise in demand for economical, customized, and energy-efficient lighting is also fueling the growth of the market globally. Lighting based on printed electronics is rapidly replacing tungsten, halogen, and fluorescent lamps, which are costly. Moreover, governments of different countries have made increased investments in the development of printed OLED-based lighting. They have also issued directives mandating the use of energy-efficient lighting.
Automotive & transportation held the major share of the printed electronics market in 2020
Automotive & transportation held the major share of the printed electronics market in 2020. There are wide application areas for devices and components based on printed electronics. These devices and components, such as sensors and displays, can be integrated with vehicles. For instance, prominent automotive manufacturers such as Ford, General Motors, Nissan, Toyota, BMW, and Audi have an increasing demand for flexible lighting for automobiles.
APAC is projected to grow at the highest CAGR from 2021 to 2026
APAC is projected to grow at the highest CAGR from 2021 to 2026. The region also held the largest share of the overall printed electronics market, followed by Americas, Europe, and RoW. The printed electronics market in APAC is projected to grow at the highest CAGR from 2021 to 2026. China, Japan, and South Korea adopt printed electronics at a higher rate owing to the benefits offered by them, including transparent, lightweight, flexible and stretchable materials. Moreover, industrial developments and a concentration of manufacturing activities in China and Japan drive economic growth of the region, which, in turn, is expected to result in increased adoption of printed electronics in APAC.
Samsung Electronics Co., Ltd. (South Korea), LG Display Co., Ltd. (South Korea), Molex, LLC (US), Agfa-Gevaert Group (Belgium), Palo Alto Research Center Incorporated (PARC) (US), DuPont de Nemours, Inc. (US), Nissha Co., Ltd. (Japan), BASF (Germany), NovaCentrix (US), and E Ink Holdings Inc. (Taiwan) are some of the key players in the printed electronics market.
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