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The printed electronics market size is estimated to grow at a CAGR of 15% between 2022 and 2027. The market size is forecast to increase by USD 47,582.09 million. The growth of the market depends on several factors, including growing demand for flexible displays, rising use of NFC, and increasing demand for printed electronics in automotive and transportation.
This printed electronics market report extensively covers market segmentation by technology (screen, inkjet, gravure, and flexographic), application (display, sensors, photovoltaics, battery, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing demand for flexible displays is notably driving the market growth, although the high penetration of alternatives may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for flexible displays is notably driving the printed electronics market growth. OLED displays have superior display characteristics and superior viewing angles compared to currently available alternative technologies. LCD and EPD-based flexible displays are also gaining popularity in the market. TVs with curved liquid crystal displays are also on the market. Samsung, one of its leading suppliers of OLED displays, has shifted its focus from manufacturing its OLED TVs to curved LCD TVs. SAMSUNG has named a new series of curved LCD TVs based on quantum dot technology SUHD. The high cost of large-screen OLEDs is making manufacturers opt for LCD technology. Popular brands producing curved LCD TVs include SAMSUNG, Vu Technologies, Panasonic, and Mitashi. On the other hand, there are also providers who concentrate on EPD displays. Companies such as E Ink Holdings and Plastic are developing products based on EPD-based flexible displays. Moreover, given the high adoption rate of curved display smartphones and curved TVs, future products based on flexible display technology will attract demand rather than require a strong technology push.
Other new applications for flexible displays Vehicles, kiosks, tablets, notebooks, e-readers, smart glasses, etc. are expected to see increased demand for this technology during the forecast period. LG Display, one of the largest players in the market with a strong portfolio of OLED TVs, is also focusing on these new applications. Rising demand for flexible displays is therefore expected to boost the growth of the market during the forecast period.
Emerging stretchable electronics is a key trend influencing the printed electronics market growth. Stretchable or elastic electronics is a technology used to build electronic circuits. Stretchable electronic devices and circuits are placed on stretchable substrates or completely embedded in stretchable materials such as silicon or polyurethane. Stretchable electronics are expected to enable a variety of new applications such as cyber skins for robotic devices, electronics that can be implanted in the human body in the form of sponges, devices in which electronics remain embedded in the human body, such as energy storage devices that stretch in a mold, blood glucose test strips, etc. The stretchable electronics market is expected to see increased adoption in the healthcare industry. This is due to the growing need for real-time monitoring, especially of critically ill patients, and health tracking and management in the military and sports. Stretchable electronics can be easily bent, twisted, and stretched to fit the shape of the desired object. Therefore, it can be used in implantable devices or used to transfer data to and from computers and smartphones. In healthcare, stretchable electronic devices such as tattoo-like electronic devices that can be attached directly to the skin, such as physiological health sensors, and stretchable electronic devices made of materials that can be inserted into the body, such as post-surgery monitors.
From consumer electronics to automobiles, stretchable electronics help product designers and marketers differentiate their products. Brands and disruptive market players grow to increase their market share through the development of new and improved products. Hence, the emergence of stretchable electronics is the major trend expected to boost the growth of the market during the forecast period.
The high penetration of alternatives is challenging the printed electronics market growth. The existence of alternatives to printed electronics and the high penetration of products manufactured using alternative manufacturing techniques are certain factors hindering market growth. Manufacturing processes such as photolithography and vacuum deposition used to manufacture photovoltaic, sensors, RFID, NFC, display, and lighting products are widely used by electronics manufacturers around the world. Traditional PCB manufacturing techniques are still used for advanced applications such as IoT and automotive electronics. With this dominance of conventional and alternative technologies, the adoption of printed electronics to manufacture products as an alternative is one of the greatest challenges facing the market.
Barriers to adopting printed electronics include production volume, scalability, product reliability, effective printing technology, and most importantly production cost. In some low-cost, high-volume applications such as RFID and printed/organic photovoltaics, scalability can significantly hinder stakeholder adoption of printed electronics. For example, solar power is ordered in bulk for large-scale implementation. This is because end-users have widely adopted PV-based solar panels made of Crystalite. Printed PV manufacturers find it very difficult to prove the efficiency of their products compared to the most preferred and available alternatives in the end-user segment. Therefore, the high penetration of substitutes is expected to hamper the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Printed Electronics Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the screen segment will be significant during the forecast period. The screen printing process has been widely used in the printed electronics market for many years. It is an established technology for producing high-quality, reliable printed circuits, especially suitable for large-scale and mass production. Screen printing has several advantages over other printing methods such as high throughput, high resolution, and low unit cost. Screen printing can also produce thick, highly conductive traces, making it suitable for high-current applications.
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The screen segment was valued at USD 16,393.64 million in 2017 and continued to grow until 2021. Screen printing is a popular technology widely used in the printed electronics market, especially for applications such as flexible displays, photovoltaics, and touch screens. Therefore, the screen segment is expected to further enhance the performance and versatility of screen printing for the market during the forecast period.
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APAC is estimated to contribute 48% to the growth of the global printed electronics market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC is the segment with the largest revenue contributor to the market and is expected to remain dominant during the forecast period. This is due to the concentration of display and electronics manufacturers in this region. The presence of display makers such as E-ink Holdings and AU Optronics also contributes to the region's dominance. OLED display vendors are accelerating capacity expansion in APAC. They use printing technology to mass-produce OLED displays for smartphones and wearable applications. This will facilitate APAC's revenue contribution to the global market. Additionally, an increasing number of printed electronics products such as photovoltaics, electronic components, logic, and memory will contribute to the revenue contribution from this region during the forecast period.
In 2020, the market was adversely affected by COVID-19. Governments from across the world imposed nationwide lockdowns to curb the spread of the disease. Temporary closure of key production units for printed electronics products reduced the use of printed electronics. However, the lifting of nationwide lockdowns and the resumption of production activities after a massive vaccination campaign led to growth in the market in 2021. This restarted production activities and distribution channels for printed electronics in all parts of the world.
The printed electronics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global printed electronics market as a part of the global semiconductor equipment market within the global semiconductors and semiconductor equipment market. The parent global semiconductor equipment market includes semiconductor equipment manufacturers, including manufacturers of raw materials and equipment used in the solar energy market. Technavio defines semiconductor equipment manufacturers as companies involved in the manufacture of both front-end (wafer fab/fabrication and wafer processing) and back-end (test, assembly, and packaging) semiconductor equipment.
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Printed Electronics Market Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15% |
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Market growth 2023-2027 |
USD 47,582.09 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
14.0 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 48% |
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Key countries |
US, South Korea, Japan, China, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Agfa Gevaert NV, BASF SE, DuPont de Nemours Inc., Dycotec Materials Ltd., Enfucell, Fujikura Co. Ltd., Henkel AG and Co. KGaA, InnovationLab GmbH, Jabil Inc., Koch Industries Inc., Nissha Co. Ltd., NovaCentrix, Optomec Inc., Printed Electronics Ltd., Samsung Electronics Co. Ltd., Schreiner Group GmbH and Co. KG, TE Connectivity Ltd., Xerox Holdings Corp., YFY Inc., and Ynvisible Interactive Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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