Global Functional Printing Market demand is expected to be valued at US$ 21.3 billion in 2022, rising at a CAGR of 19.26% to US$ 124.0 billion between 2022 and 2032. Increased demand for functional printing items, particularly in the semiconductor and electronics industries, is driving growth.
Functional printing is a process of bringing functionality into 2D and 3D silicon based components. It is printing of different electronic components using substrates and ink. The some of the most commonly used printing techniques are screen, flexography and inkjet which are being employed to print on various substrates like glass, paper, paper etc. using dielectric inks, conductive copper and silver inks and grapheme inks. The increasing demand for low cost volume production of electronic components and rising concern towards environmental sustainability issues has boosted the growth of Global Functional printing market.
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Functional Printing is used for mass production of electronic devices such as light crystal display (LCD), Radio-frequency identification (RFID) chips, sensors, photovoltaic and organic light emitting diode (OLED).The use of functional printing for production of electronics is not only cost effective and environmentally safe but also provide scope for creating graphical visual effects like electrochromic effect, electroluminescent effect and electroluminescent effects. Functional printing offers increased durability, efficiency and reliability to the electronic components as compared to conventional process of production. On other hand existing functional printing technologies are still immature in terms of its application in development and production of electronic objects. It act as a both opportunity as well as challenge for market players to develop functional printing specifically designed for printed electronics.
The North America is the biggest functional printing market as most of the functional printing equipment & material manufacturers are from this region. There is need for technical developments and interdisciplinary efforts to fuel more innovative business opportunities along with core functional printing business to support rapid growth in functional printing market.
The basic factors that drive the growth of global functional printing market is increasing demand of low cost, reliable and robust electronic devices such as RFID antennas and sensors all over the world. The development of new types of substrate materials and inks has further boosted the global functional printing market. The functional printing market is also driven by benefits that it offers such as less material wastage and low power consumption, which ultimately an effort to reduce negative environment impact by electronics industry. On other side, functional printing is not specifically designed for production of electronic components, which is a factor that surpasses the growth of functional printing market.
Global Functional Printing Market: Key Players
Some of the top players in global Functional Printing market include – Avery Dennison Corporation (U.S.), Blue Spark Technologies (U.S.), Blue Spark Technologies (U.S.), BASF SE (Germany), Mark Andy, Inc. (U.S.), Xennia Technology (U.K.), Novaled AG (Germany), Xaar PLC (U.K.), Palo Alto Research Center Incorporated (PARC) (U.S.) and E Ink Holdings, Inc (Taiwan).
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Key Segments Profiled in the Functional Printing Market Survey
Material:
- Functional Printing Substrate
- Functional Printing Ink
Printing Technology:
- Functional Inkjet Printing
- Functional Screen Printing
- Functional Gravure Printing
- Functional Flexography
Application:
- Functional Printing for Display
- Functional Printing for Sensors
- Functional Printing for Batteries
- Functional Printing for RFID Tags
- Functional Printing for Lighting
- Functional Printing for Photovoltaic Applications
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