The printed electronics market was valued at USD 3.13 billion in 2015 and is expected to reach USD 12.10 billion by 2022, at a CAGR of 22.38% between 2016 and 2022.
Factors that would drive the market for printed electronics are increasing demand from the Internet of Things, thin and flexible form factor, and significant cost advantages provided by the printed electronics products. Printed electronics along with their low cost provides added benefits of thin-form factor, flexibility, stretchability, portability, and rollability, among others. These factors make them suitable in various applications.
The printed electronics market has been segmented on the basis of geography into the Americas, Europe, APAC, and RoW. APAC is expected to account for the largest share of the total market in 2016. This region has emerged as a major electronics manufacturing hub with robust manufacturing activities in countries such as China, Japan, India, and South Korea, which is boosting the demand for printed electronics systems in this region. Europe has been the epicenter for the research and development of the printed electronics materials.
On the other hand, difficulties faced by electrically functional inks and lack of awareness amongst the manufacturers are posing as a challenge in the printed electronics market. Conductive inks, especially silver, are predominantly used in printing electronics. Silver-based inks cannot be cured at low temperatures and also requires high temperatures for the sintering process, which limits the choice of substrates.