The competitive landscape of the global printed electronics market is fairly fragmented due to the increasing preference of the established players towards making strategic business decisions such as mergers, takeovers, partnerships, and joint ventures. These decisions allow them to acquire better share in the global market for printed electronics and helps in intensifying the overall competition in the market. The players operating in the global printed electronics market are also tackling to gain advantage in the market by deploying cutting edge technologies and heavily investing in the activities of research and development so as to have better and innovative products for their clients. Some of the key players in the global market for printed electronics include names such as Intrinsiq Materials, Optomec Inc., Xerox Corporation, Thin Film Electronics ASA, and Samsung Electronics Co. Ltd. among others.
According to the study report, the global market for printed electronics is expected to reach an overall valuation of US$65.0 bn in the year 2024 from the initial market valuation of US$25.4 bn in the year 2015. The growth rate of the global printed electronics market is expected show a strong CAGR of 11.0% over the course of the given forecast period of 2016 to 2024.
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In terms of geography, the Asia Pacific market for printed electronics is expected to continue its domination over the forecast period. The region accounted for nearly 36% of the overall market share in the year 2015, with maximum contribution coming from countries such as India, China, and Japan. In terms of applications, the segment of retail and packaging is projected to continue its domination and expected to cover 34.5% of overall market share by the end of the given period of forecast in 2024. The huge demand for smart packaging is also anticipated to aid the overall development of this segment. In addition to this, the advancements in technology and the newer methods of packaging are also helping in developing the retail and packaging application segment of the global printed electronics market.
Increasing Use of Organic Materials to Drive Market Growth
The development of the global market for printed electronics is expected to be chiefly driven due to the increasing uptake of the organic materials for producing printed electronics. These are also responsible for the low price printing of adaptive or flexible displays. The increasing pressure to cut down the excessive use of energy, reduce the wastage of material, and decrease the negative effect on the nature has also helped in propelling the market players to use more organic materials for manufacturing printed electronics. This, thus expected to drive the overall development of the global market over the coming years of the forecast period. The usage of coated paper for printed electronics is increasing as well as gaining high popularity. All these factors are expected to propel the overall growth of the global printed electronics market. The new trend of minimum consumption of material and high speed assemblage is expected to have a positive impact on the global market.
High Production Cost and Dearth of Organic Materials to Impede Market Growth of Printed Electronics
However, there are some challenges in the path of the global printed electronics market. One of the key impeding factors for the growth of the global market for printed electronics is the dearth of organic materials in the market. Moreover, the growing production cost is also slowing down the growth of the market. Nonetheless, the players in the market are investing heavily on research and development activities for the use of organic materials.