Printed Electronics Market to cross USD 23.0 billion by 2026: Report
02 November 2021: 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.
It is but natural that despite the COVID-19 impact the Printed Electronics Market is projected to cross USD 23.0 billion mark by 2026 from an estimated USD 9.9 billion in 2021, at a CAGR of 18.3% from 2021 to 2026, according to a recent research report published by MarketsandMarkets.
The report titled, “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”, states that 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.
Interestingly, the report highlighted that in 2020, screen printing held the major share of the printed electronics market owing to the increased use of screen printing in manufacturing displays and sensors. 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. As such, in India, a machine dealer states that recently there has been surge in demand for screen printing machinery for PCB for lighting industry.
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.