Conductive Inks Market Size Worth $5.11Bn, Globally, by 2028 at 5.4% CAGR - Exclusive Report by The Insight Partners
NEW YORK, May 18, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Conductive Inks Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Silver Conductive Ink, Carbon Conductive Ink, Polymer Conductive Ink, Copper Conductive Ink, and Others) and Application (Solar Panels, Touch Screens, Membrane Switches, Medical Devices, Printed Circuit Boards, Sensors, Heating Elements, Radio Frequency Identification, Cell Phone Antennas, Automotive, and Others)", the global conductive inks market is expected to grow from $3.56 billion in 2021 to $5.11 billion by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.
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Conductive Inks Market: Competitive Landscape and Key Developments
Dupont, Henkel, Novacentrix, Merck, and Heraeus are among the key players profiled in the report on the conductive inks market. Several other conductive inks market players were also analyzed to get a holistic view of the market and its ecosystem.
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In 2022, DuPont Microcircuit and Component Materials business announced the launch of 5881, a new Silver/Silver Chloride conductive ink/paste for healthcare applications.
In 2021, DuPont announced that it has successfully completed the acquisition of Laird Performance Materials, a world leader in high-performance electromagnetic shielding and thermal management solutions.
The conductive inks market growth is driven by growing installation of solar panels, the growing adoption of RFID technology, growing demand for miniaturized and efficient electronic devices, rapidly increasing IoT based application.
Conductive ink produces printed objects that can conduct electricity. Graphite or other conductive elements are frequently infused into ink to create it. Owing to the advancements in the application of these inks, conductive ink is used in direct digital printing on various materials. Conductive inks are compatible with multiple printing standards. Thus, they are adopted for specific applications. For example, textile wearables are becoming increasingly popular as flexible and portable electrical devices for monitoring health and other purposes. With increasing number of applications, the demand for conductive inks is rising which in turn is impacting the conductive inks market size.
Moreover, conductive inks offer various advantages, such as reduced material density, lower component weight, and easy handling. As a result, the adoption of conductive inks is rising to improve the quality and quantity of smaller and efficient electronics. The use of conductive inks in printing RFID chips has several advantages, such as reduced size and faster and efficient production, resulting in low production costs. Therefore, the conductive ink industry is predicted to expand due to the rising demand for RFID tags. With an increase in the production of RFID chips, the demand for conductive inks is projected to endure and in turn will positively boost the growth of conductive inks market.
Moreover, the widespread usage of printed circuit board technology in medical, electronic, and solar appliances would drive the conductive inks market during the forecast period. The conductive ink product has a wide range of uses in electrical gadgets with touch screens. Membrane touch switches, desktop keyboards, heating elements, touch screens, automotive sensors, EL lights, printed circuit boards, and potentiometers are among the most common applications of conductive inks. Thus, the above-mentioned factors are driving the conductive inks market growth.
The sales of vehicles increased to 82,684,788 in 2021, and it expected that economic stability across the countries will further increase the sales the vehicles in 2022, thus positively impacting the market size of conductive inks. In 2020, decline in pollution and carbon emissions attracted many renewable energy companies, such as Cypress Creek Renewables; First Solar Inc.; NextEra Energy, Inc.; SunPower; and Canadian Solar Inc., and governments to invest in renewable energy. As per International Energy Agency (IEA), many developed and developing economies are shifting toward low carbon sources of electricity, such as solar (photovoltaic) and other renewable sources. Thus, significant investments in sustainable green energy (clean energy), recycle batteries, carbon capture and storage technologies such as pre-combustion, post-combustion and oxyfuel, AVs (Automated vehicles), and EVs. Growth aforesaid factors will positively create lucrative business opportunities for conductive inks market. In addition, favorable policies by the government are attracting many FDIs to invest in renewable energy. These factors create lucrative growth opportunities for the key players operating in the global conductive inks market.
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Increasing Adoption of Conductive Inks in Various Application Areas to Create Lucrative Opportunities for the Conductive Inks Market Key Players during Forecast Period:
The rising adoption of conductive ink in various applications sectors such as 5G, automotive (sensors, electronics, heaters, etc.), photovoltaic, power electronics, package-level EMI shielding, In-Mold Electronics, electronic textile and wearable electronics, skin patches, RFID, and others.
The automotive industry has been a key target market for conductive ink manufacturers. Printed defrosters, particularly on rear windows, are a typical application. The use of transparent and efficient large-area heating to minimize apparent defroster lines is an important development. In addition, transparent heating can also be utilized for other purposes, such as defrosting perception sensors used in highly automated and autonomous driving, such as cameras or lidar. Furthermore, seat heaters are also a notable market with ample upside growth opportunity.
Moreover, telecommunications companies use 5G antennas to handle the incredible speed, capacity, and bandwidth of 5G networks. In addition, there are several opportunities for the conductive inks market key players to increase their conductive inks market growth in 5G technology, primarily for filter technology. Highly thermally conductive die attaches pastes, such as metal sinter or highly loaded epoxies, are another important opportunity for conductive ink in 5G technology. Current LDMOS technology will struggle at the required frequencies, especially at sub-6GHz 5G, hence RF GaN power amplifiers (PAs) will likely become more popular. Furthermore, the increasing adoption of 5G-based consumer electronics is also driving the use of conductive inks in the devices and eventually driving the market growth. Thus, the factors mentioned above would create lucrative opportunities for the conductive inks market growth during the forecast period.
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Conductive Inks Market: Type Overview
The conductive inks market share based on type, is segmented into silver conductive ink, carbon conductive ink, polymer conductive ink, copper conductive ink, and others. The carbon conductive ink segment led the market in 2020. Due to excellent conductivity, performance stability, and high-volume manufacturability, silver remains the principal material of choice for printed electronics. Most silver inks contain micron-sized flakes, however nano-silver compositions have lately gained popularity because to their ability to sinter at lower temperatures (allowing for higher conductivity) and print fine lines. Carbon conductors can be printed via screen or flexographic printing for lower cost or less demanding applications. These can be used for conductive tracks or as overprints on top of silver to protect or prevent silver migration.
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