Press release
Functional Printing Market Project to Garner 13.79 Billion by 2027 | Top Market Players are Isorg (France), Mark Andy Inc. (US), Nanosolar Inc. (US), Novaled AG (Germany), Optomec Inc. (US) and Toppan Forms Co. Ltd (Japan)
Market HighlightsFunctional printing technology is instead a modern invention that has taken the electronic market by storm. Its functionality is mainly in photovoltaics, batteries, inkjet printers, screen printing, OLED lighting and RFID. This dynamic technology is meant to put down a purposeful material onto the surface of existing material in a controlled pattern.
The major factor in the increase of the functional printing market is the fact that it involves the low cost of production, which means more electronic goods can be manufactured with this process. The demand for functional inks has increased globally, modifying the traditional printing methods.
It has been estimated that the functional printing market will witness a jump in the growth rate; it will surge to 19.10% from the year 2020 to 2027. The expected CAGR for 2021 to the year 2026 is 21.59%. In the year 2020, this technology had reached the zenith of USD 13.79 billion. It has been predicted that functional printing will take over other industries as well shortly.
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Segmentation:
There has been significant growth in innovative OLED electronic products; the demand has surged for lighting and screens integrated with this modern technology. OLED panels are soon becoming a norm in the television production sector. An increasing number of electronics companies are adopting functional printing because of its low manufacturing value, durability, lower consumption of raw materials, demand for slim and flexible electronic devices, positive environmental impact, and high-resolution input on the screens.
The functional printing market is segmented based on technology, coating, application and material. It is used in aerosol jet printing, nanoimprint lithography, and offset printing based on technology. It’s applied for conducive and conformal coating. This technology is highly successful for touch screen applications, membrane switches, OLED displays, and printed batteries. While for material based functional printing, it is mainly used in glass, paper, silicon, and plastic.
In addition to this RFID tags, biosensors and display cards are also accelerating the growth of this technology in the active market.
Regional Classification
The key companies leading the world regarding functional printing are Dupont – US, Mark Andy Inc. – US, Toya Ink International Corp. – US, Toppan Printing Co. Ltd. – Japan, BASF SE – Germany, Eastman Kodak Company – US, and Blue Spark Technology – US. Region-wise distribution of this market has been highly competitive, with the US leading the pack along with Canada, South America and Germany. The rest of the European regions are following close behind. The Asia-Pacific region seems to be still developing along with the Middle East and African countries.
Industry News
The presence of global brands in developing countries will lead to the functional printing market—especially in Asian countries like Japan, where electronic technology is the hub of production. Increased consumer behaviour towards smartphones and OLED lights that consume less power and are safe for the environment will also be game-changers. Functional printing will dominate the scene, with local and domestic brands falling into the competition race towards a sleek future.
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Functional Printing Market Research Report, By Material (Substrates (Glass, Plastic, Paper, Silicon Carbide, Gallium Nitride, Others), Inks (Conductive Inks, Graphene Ink, Dielectric Inks, Others), Printing Technology (Inkjet Printing, Screen Printing, Gravure Printing, Flexography, Others) Application (Sensor, Display, RFID Tags, Lighting, Battery, Photovoltaic, Others) - Forecast till 2027
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