According to our latest market study on "Conductive Inks Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application," the market is expected to grow from US$ 3,565.80 million in 2021 to US$ 5,119.80 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.
RFID, which stands for Radio Frequency Identification, is a wireless technology for capturing and identifying data using radio frequency waves. It enables the recognition, tracking, and identification of people, animals, and objects. A typical RFID system comprises an antenna, RFID tags or transponders that store unique electronic information, and an RF module or reader that decodes the information. RFID technology has the potential to revolutionize industries such as distribution, retail, e-commerce, and manufacturing. The technology has overgrown from a niche product to a global technology that provides financial benefits to retailers worldwide. RFID is highly versatile, with excellent adhesion, flexibility, and compatibility, making it suitable for a wide range of applications. It is commonly used in various devices, including credit cards, passports, and smart cards. RFID products can both transmit and receive radio frequencies, making it a helpful technology for supply chain management and vehicle tracking. Many retailers and other businesses quickly adopt RFID technology due to its benefits.
Manufacturers of RFID devices are utilizing conductive inks to enable the development of the next generation of ID products. The application of conductive inks in printing RFID chips has numerous benefits, such as smaller size, rapid and efficient production, and low costs of manufacturing. Furthermore, the antenna of an RFID tag is used to distribute frequency signals and create a wireless connection between the tag and the reader. Traditional methods of antenna manufacturing are expensive, slow, and environmentally damaging. To tackle these issues, conductive ink technology for printing antennas is being utilized. As a result, the increasing adoption of RFID technology is driving the growth of the conductive inks market. The demand for miniature and efficient electronic devices is also driving the growth of the conductive inks market. However, the high cost of silver-based conductive inks could hinder the growth of the conductive inks market.
The COVID-19 pandemic had a significant impact on the economies of India and China, which are two of the most rapidly developing economies. The pandemic led to restrictions on travel and business closures, causing a decline in the sales revenue of the automotive industry, which, in turn, adversely affected the demand for flexible electronic components and consumer electronics. Consequently, companies operating in the Asia-Pacific (APAC) region were unable to fulfill the demand for conductive inks required for applications such as smart wearables, smart textiles, smartphones, rear windows, and EV battery control panels. Despite these challenges, the growth of the APAC conductive inks market was supported by the increasing adoption of Industry 4.0 and the rising sales of vehicles. Various initiatives by governments and tech companies, such as the production linked incentive (PLI) scheme, Japan Electronics and Information Technology Industries Association (JEITA) initiatives, and the People's Bank of China (PBOC) to "rectify" e-commerce, created a conducive environment for the growth of the APAC conductive inks market.
The conductive inks market is segmented based on type, application, and geography. Based on type, the conductive inks market is segmented into silver conductive ink, carbon conductive ink, polymer conductive ink, copper conductive ink, and others. By application, the conductive inks market is segmented into solar panels, touch screens, membrane switches, medical devices, printed circuit boards, sensors, heating elements, radio frequency identification, cell phone antennas, automotive, and others. Based on geography, the conductive inks market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Dupont, Henkel, Novacentrix, Merck, and Heraeus are among the key players operating in the conductive inks market. Several important conductive inks market players were analyzed during this study to get a holistic view of the market and its ecosystem.
Key Findings of Study:
The North American consumer ink market is expected to undergo significant changes in the coming years due to the rapidly growing technological advancements, evolving consumer electronics categories, and shifting competition dynamics. The market growth is also being positively influenced by the rising demand for miniature, lightweight, and efficient electronic medical devices for monitoring and tracking health. As a result, numerous companies in North America are investing heavily in developing conductive inks specifically designed for electronic medical devices. The global COVID-19 pandemic has caused disruptions in the chip supply chain, leading to many countries increasing domestic production and supply. In the US, a massive investment of US$ 52 billion has been made to attract major chipmakers such as Taiwan Semiconductor Manufacturing Corp (TSMC) and Samsung Electronics to establish new factories within the country, thereby further boosting the conductive inks market growth in North America.
During the forecast period, the APAC conductive inks market is anticipated to grow at the highest CAGR, mainly due to the increasing use of conductive inks in touch sensors and intelligent devices. Japan, China, and India are some of the leading countries in APAC where conductive ink manufacturers are focusing their efforts. Additionally, the market is being supported by favorable policies such as Make in India, Production Linked Incentive (PLI) scheme, Japan Electronics and Information Technology Industries Association (JEITA) initiatives, and People's Bank of China (PBOC) investments in e-commerce rectification. The growth of the market in the Asia Pacific is also being driven by improving medical infrastructure, increasing use of conductive inks in advanced medical sensors, rising demand for miniaturized and intelligent devices, increasing adoption of electric vehicles, and the high rate of commercialization of printed electronics in emerging economies.
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