The conductive inks market was valued at US$3,565. 80 million in 2021 and is expected to reach US$5,119. 80 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028. Increasing consumer awareness of miniature, lightweight and efficient electronic medical gadgets is driving the growth of the conductive ink market.
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Therefore, many companies in North America are investing in medical devices based on conductive ink, which supports the growth of the North American conductive ink market.
For example, on January 11, 2021, the Air Force Rapid Sustainment Office (RSO) awarded Electroninks a US$1.5 million contract to develop advanced manufacturing hardware and particle-free conductive inks for printed circuit boards. In addition, due to strict government regulations for passenger safety, automakers are focusing on advanced electronic and security systems of the vehicles. Some of the established players in the North American conductive ink market are DowDuPont, Heraeus Holding GmbH, Henkel AG & Co. KGaA, Johnson Matthey, Poly-Ink, Sun Chemical Corporation and NovaCentrix.
The use of silver inks is driving the emerging trend to integrate different technologies. In addition, strategic initiatives by the various conductive ink manufacturers such as Electroninks, Henkel, DuPont and Poly-Ink are creating market growth opportunities.
In 2022, Electroninks, the leader in particle-free metallic inks and advanced conductive materials, announced the confirmation of an enhanced particle-free silver ink product with aerosol jet printing compatibility for ultra-fine line printing requirements for Electroninks’ commercial customers. † Improvement of the medical infrastructure; increasing applications of conductive ink in advanced medical sensors; increasing consumption of miniaturized devices, smart devices and printed batteries; and the high level of commercialization of printed electronics in emerging economies is driving the conductive ink market in Asia-Pacific.
Furthermore, the increasing propensity for electric vehicles and the increasing adoption of 5G-based consumer electronics are driving the use of conductive inks, which would create a lucrative opportunity for the conductive inks market in the coming years. Governments around the world have introduced environmental restrictions to allow industries to replace heavy materials in appliances with modern lightweight materials.
In addition, consumer desire for small and lightweight electronics has prompted the consumer electronics industry to miniaturize its products. In addition, the rapidly increasing IoT-based applications and the increasing trend of miniaturization are driving the conductive inks market.
Conductive inks offer several advantages, such as lower material density and component weight and easy handling. As a result, the use of conductive inks is increasing to improve the quality and quantity of smaller and more efficient electronics.
Using conductive inks in RFID chip printing has several advantages, such as smaller size and faster and more efficient production, resulting in low production costs. Therefore, the conductive ink industry is predicted to grow in the coming years due to the rising demand for RFID labels.
The widespread use of printed circuit board technology in medical, electronic and solar devices is expected to drive the conductive inks market during the forecast period. The conductive ink product has a wide range of applications in touch screen electrical gadgets.
Membrane touch switches, desktop keyboards, heaters, touchscreens, automotive sensors, EL lamps, printed circuit boards and potentiometers are among the most common applications of the conductive ink market. The industry is driven by the growing need for smaller and more efficient electronic devices. In printed electronics, conductive inks improve electrical conductivity and efficiency. The use of conductive silver inks in PV cells and membrane switches has been identified as an important trend in the global conductive ink market.
The initial phase of the COVID-19 pandemic negatively impacted the growth of the conductive inks market. Severe restrictions imposed by European governments have disrupted the supply chain, halted production and distribution of products and hampered business operations.
Many companies producing conductive inks in Europe, such as Johnson Matthey, Poly-ink, Heraeus Holding and Henkel AG & Co.KGaA, have stopped production due to a lack of raw materials.
Flexible electronics are used in smart sensors, displays and contactless sensors for vehicles in the automotive industry. The applications of conductive inks can also bring benefits to electric vehicles.
Total vehicle sales in 2019 and 2020 were 21,575,118 and 16,942,248 respectively. A decline in sales therefore had a negative impact on the European market for conductive inks. However, in 2021 vehicle sales improved, creating lucrative opportunities for key players in the conductive inks market. So a few factors such as the growing market for flexible electronics (printed electronics); rising demand for electric vehicles; increasing use of semiconductor technologies, such as GaN and SiC, in electric vehicles; and huge investments in the development of photovoltaic cells are driving the European market for conductive inks.
The conductive ink market is segmented by type and application. Based on type, the market is segmented into silver conductive ink, carbon conductive ink, polymer conductive ink, copper conductive ink, and others.
In 2021, the carbon conductive ink segment led the market and accounted for the largest market share. In terms of application, the market is segmented into solar panels, touch screens, membrane switches, medical devices, circuit boards, sensors, heating elements, radio frequency identification, mobile phone antennas, automobiles, and others.
In 2021, the printed circuit board segment led the market and accounted for the largest market share. Geographically, the conductive inks market is broadly segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. America (SAM).
In 2021, APAC accounted for a significant share of the global market.
applied ink solutions; DuPont DE Nemours, Inc.; Henkel AG and CO. KGAA; Inkron OY; ink; Heraeus; Novacentrix; POLY INK; Merck KGAA; and Vorbeck Materials Corporation are among the major players in the global conductive inks market and profiled in the market study.
The total global conductive ink market size has been derived using both primary and secondary sources. To begin the research process, extensive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the conductive ink market.
The process also serves to gain an overview and forecast for the conductive inks market across all segments. Multiple primary interviews were also conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic.
The participants in this process include industry experts such as VPs, business development managers, market intelligence managers and national sales managers, along with outside consultants such as valuation experts, research analysts and key opinion leaders specializing in the conductive inks market.
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