Albany, NY -- (SBWIRE) -- 10/05/2017 -- The global printed electronics market is moderately fragmented, with leading players focusing on mergers and acquisition as their strategic business alliances are helping them to acquire greater share in the market and making them formidable competition for others. The players within the printed electronics market are also fighting to gain leadership in the market by implementing the latest technologies and investing in research and development for coming up with product innovations for customers. Samsung Electronics Co., Ltd., Thin Film Electronics ASA, Xerox Corporation, Optomec Inc., and Intrinsiq Materials, Inc. are some of the leading players within the global printed electronics market.
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According to the research report, the global printed electronics market will rise from US$25.4 bn in 2015 to reach US$65.0 bn by the end of 2024. At this pace, the market is expected to exhibit a strong CAGR of 11.0% between the forecast period of 2016 and 2024. By geography, it is estimated that Asia Pacific will continue to lead in the printed electronics market. The region held a 36% share in 2015, with most contribution from Japan, China, and India.
On the basis of application, the retail and packaging segment is leading in the market on account of the growing dynamic perceptions of packaging and growth in the retail sector. The retail and packaging segment is anticipated to account for a share of 34.5% by 2024. The high demand for smart packaging will also help boost the growth of this segment. Moreover, technological improvements and innovative methods of packaging are also behind the growth of the retail and packaging application segment.
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According to the lead author of this report, "the global printed electronics market is driven by high adoption of organic materials for making printed electronics, which is responsible for the low cost printing of flexible displays." The growing pressure to reduce consumption of energy, decrease material wastage, and reduce the negative impact on the environment has also compelled many market players to make use of organic materials for printed electronics, thereby increasing the uptake of the same.
The use of coated papers for printed electronics is also increasing and becoming popular. All these factors will boost the growth of the global printed electronics market. "The trend of minimal material consumption and high-speed fabrication will positively influence the growth of this market" said a TMR analyst.
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The global printed electronics market is also facing a few challenges, which have restrained its growth from reaching its fullest potential. One of the key restraining factors for the growth of the global printed electronics market is the lack of availability of organic materials.
Ironically, the market's strongest growth factor is the use of organic materials. Market players are investing extensively on research and development for using organic compounds. This in turn is increasing the cost of production. Thus, high production cost and low availability of organic materials are two important factors that are threatening the growth of the global printed electronics market.