PUBLISHER: Allied Market Research | PRODUCT CODE: 1414885
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414885
According to a new report published by Allied Market Research, titled, "Printed Electronics Market," The printed electronics market was valued at $9.4 billion in 2022, and is estimated to reach $55.7 billion by 2032, growing at a CAGR of 20.1% from 2023 to 2032.
Printed electronics is a developing area that has the potential to transform the way electrical devices are made. This innovative method includes the printing of electronic materials such as conductive inks and organic polymers onto diverse surfaces. As the sector develops pace, it is vital to investigate the drivers, benefits, constraints, restraints, opportunities, and technical breakthroughs that characterize the printed electronics environment.
Rise in the demand for flexible and lightweight electronic devices is a main driver of printed electronics adoption. Traditional manufacturing techniques are usually rigid and costly, whereas printed electronics provide economical and more flexible options. Furthermore, the surge interest in Internet of Things (IoT) devices has led to the demand for low-cost, high-volume production procedures, making printed electronics a tempting alternative. In addition, another key driver is the environmental sustainability of printed electronics compared to traditional manufacturing, as this printing approach generates less waste, and the use of organic and biodegradable components aligns with the global trend toward green technology. Moreover, medical sensors and diagnostic equipment may conform to the human body without causing discomfort due to the ability to print electronics on flexible and biocompatible substrates. This opens new opportunities for wearable health monitoring devices and implanted sensors, with the potential to transform patient care and diagnostics.
However, printed electronics have various obstacles that restrict market growth. The lower performance compared to ordinary silicon-based circuits is a significant barrier. The materials used in printed electronics may not be as conductive or durable as traditional materials, limiting their use in high-performance devices. One of the major hurdles of printed electronics is the limited complexity of circuits that may be built. Printing technology may now struggle to create intricate designs with the accuracy required for current electrical components. When compared to traditional manufacturing processes, one notable limitation is that printing procedures are slower and have a lower throughput. This can be a significant drawback for applications that need high-speed, high-volume production.
The use of printed electronics in a variety of industries will accelerate. Energy harvesting is one area where growth is expected. Printed solar cells and energy storage devices offer a long-term power source for electronic devices ranging from small sensors to larger applications such as smart buildings. The introduction of energy-harvesting capabilities into printed electronics aligns with the global shift toward renewable energy and energy-efficient devices. Printed electronics has a bright future, due to ongoing R&D initiatives. The performance and capacities of printed electrical devices are expected to surge as material science and printing technology advance. Flexible and lightweight displays may be put onto unexpected surfaces, transforming everyday objects into interactive gadgets. This allows for innovative product designs and user experiences. The automotive industry may profit from printed electronics and to produce flexible displays, sensors, and other components.
The breakdown of supply networks has been one of the most immediate and important impacts of the outbreak on printed electronics. Lockdowns, travel restrictions, and staffing shortages disturbed the complex network of suppliers, manufacturers, and distributors that constitutes the backbone of the printed electronics business. This resulted in delays in acquiring crucial materials such as conductive inks, substrates, and other components needed for the manufacture of printed electronic devices. Companies who adopted a flexible and imaginative strategy not only overcame the immediate challenges, but also positioned themselves for long-term success. For instance, there was a surge in R&D work aimed at producing printed electronics solutions to prevent virus spread.
The key players profiled in this report include: Samsung Electronics Co., Ltd., LG Display Co., Ltd., Molex LLC, Agfa-Gevaert Group, Palo Alto Research Center Incorporated (PARC), DuPont de Nemours, Inc., Nissha Co., Ltd., BASF, Nova Centrix, and E Ink Holdings Inc. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as research and development (R&D) and focus on sustainable and flexible materials.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)