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TMR analysts suggest that the global market for conductive inks will expand at a promising 6.9% CAGR from 2017 to 2025. Considering that the projection holds true, the market will rise to a promising US$4,275.4 mn by 2025 from a valuation of US$2,340.0 mn in 2016.
Asia Pacific to Lead to Promising Growth Opportunities
Based on application, the photovoltaic segment has emerged as the largest segment of the market. The automobile, sensors, and battery segments are also expected to exhibit impressive growth over the reportís forecast period. Additionally, the market is expected to gain from the technological advances introduced across industries such as the healthcare, electronics, energy, and automobile in the near future. Although the market has reached its maturity in many regions, it is expected to witness surging demand in emerging segments such as PV.
Regionally, Asia Pacific boasts the dominant demand for conductive inks and this trend is expected to continue over the forecast period owing to the rising demand for miniaturization in automobiles and electronics. Furthermore, the growing demand for PV is also anticipated to boost the demand for conductive inks from this region. The Europe and North America markets are also likely to witness robust growth due to the presence of favorable regulatory policies encouraging the PV market.
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Increased Demand for Printed Circuit Boards to Drive Growth
The demand for printed circuit boards and smart packaging has significantly expanded in the past few years, particularly in emerging economies across Asia Pacific and Latin America. This is subsequently boosted the demand for conductive inks. The increased demand for advanced medical devices, which are steadily upping their usage of 3D printed electronics, is also expected to drive the market in the next few years. Furthermore, the increased global demand for products such as OLEDs, thin film transistors, flexible displays, radio frequency identification tags, and smart textiles is also expected to drive the market in the next few years.
Despite witnessing rising demand from the automobile and electronics industries, the high cost of conductive inks will inhibit its widespread uptake. Nevertheless, with the development of nanomaterials that can be used as conductive inks, enterprises operating in the market have come upon a lucrative opportunity to capitalize on in the near future.
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