TAGS: Inks
The global conductive inks market is anticipated to expand at a CAGR of 3.4% from 2018 to 2026, according to a new report titled ‘Conductive Inks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global conductive inks market is primarily driven by strong growth of the global packaging industry.
Market to expand at a CAGR of 3.4%
Innovations in Printed Electronics Application to Drive Market
Printed electronics can be used in a wide range of applications including organic photovoltaics (OPVs) and organic light-emitting diodes (OLEDs). With technological advancements, different types of nano-patterning methods have been developed to improve light extraction from OLEDs, for instance, nano-imprinting and nano-contact printing.
Furthermore, increasing demand for low-cost, anti-reflection coatings for use in LCD displays is driving the market. Growing awareness about the usefulness and convenience in terms of application of printed electronics in different industries is projected to augment the global conductive inks market in the short, medium, and long term.
Growing use of printed circuit boards (PCBs), circuits, antennas, biosensors, sensors, touchscreens, printed heaters, and touch switches in different industries also acts as a major driving factor for the global conductive inks market.
Risen Demand for Conductive Inks in End-use Industries
Medical-grade, electrically conductive inks are used in a wide range of medical electrode applications (such as TENS and ECG electrode applications), defibrillation, transdermal drug delivery, and monitoring systems. Increasing usage of conductive inks in advanced medical devices is acting as a key driving factor for the global conductive inks market.
Moreover, increasing use of conductive inks in the production of lightweight sensors and seat-heating elements in the automotive industry is propelling the global market for conductive inks.
Flexible displays, thin-film transistors, OLEDs, OPVs, smart textiles, and radio frequency identification (RFID) are some of the major applications of conductive inks. Impact of the above-mentioned driver is analyzed to be high currently and it is likely to remain high during the forecast period also.
Complexities Associated with High-end Technologies
High costs of silver conductive inks is a key restraining factor for the global conductive inks market. Moreover, complexities related to usage of highly conductive inks in high-end devices is a major technological challenge for the market. These factors have been restraining the market over the last few years.
However, market players are constantly in pursuit of integrating enhanced technologies to improve their profitability. Manufacturers are engaging in continuous research activities in order to innovate advanced conductive inks. Impact of the above-mentioned restraint is analyzed to be medium currently and it is likely to remain medium during the forecast period also.
Silver Conductive Inks Segment to Dominate Market
The silver conductive inks segment dominates the global conductive inks market, as these inks are largely used in the electronics industry. Silver conductive inks have a wide range of applications across RFI/EMI shielding of polyimide flexible circuits, polymer thick-film circuitry, membrane switches, and coatings for tantalum capacitors. Due to properties of silver conductive inks, they are widely used in energy, medical, and consumer electronics industries.
Growing Demand in Asia Pacific
Based on region, the global conductive inks market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific led the global market in 2017. According to leading manufacturers of conductive inks based in Asia Pacific, the demand for conductive inks in the region has been increasing, especially in the electronics & electricals (E&E) sector.
Furthermore, China was the leader of the global semiconductor industry in 2017. It was the world’s largest producer of electronic products accounting for well over a 33% of the global production in 2017. In 2017, China’s electronics production witnessed an increase of 3.4%, while the electronics equipment production increased by 2.0%, and the production of electronic components rose by 8.7% in the year.
Demand for conductive inks in Latin America and Middle East & Africa is anticipated to increase at a rapid pace during the forecast period.
Dominance of Brazil in the electronics & electricals (E&E) industry in Latin America drives the conductive inks market in the region. The E&E industry in Brazil expanded at a CAGR of 7% in 2018.
Source: TMR