Conductive Inks Market is expected to reach US$ 5,119.80 Million by 2028 | The Insight Partners

Growing Demand for Miniaturized and Efficient Electronic Devices to Drive Conductive Inks Market Growth During 2021-2028

Governments across the world have enacted environmental restrictions to encourage industries to replace heavy materials in devices with modern lightweight materials. In addition, consumer desire for tiny and lightweight electronics has pushed the consumer electronics industry to miniaturize its products. Moreover, rapidly increasing IoT based application, increasing miniaturization trend are driving the demand for conductive ink. The rapidly increasing usage of smartphones and connected devices propels the need for smaller and lighter sensors with low-power requirements and enhanced performance, which stimulates the demand for miniaturization.

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The List of Top Companies - Conductive Inks Market

• Molex
• DuPont
• Henkel AG & Co. KGaA
• Inkron (Nagase Group)
• InkTec
• Heraeus
• NovaCentrix
• Poly-Ink
• Merck KGaA
• Vorbeck Materials Corporation

According to our latest market study on "Conductive Inks Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application," the market is expected to grow from US$ 3,565.80 million in 2021 to US$ 5,119.80 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.

The conductive inks market is segmented based on type, application, and geography. Based on type, the market is segmented into silver conductive ink, carbon conductive ink, polymer conductive ink, copper conductive ink, and others. By application, the conductive inks market is segmented into solar panels, touch screens, membrane switches, medical devices, printed circuit boards, sensors, heating elements, radio frequency identification, cell phone antennas, automotive, and others. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

Conductive inks are efficient, effective, and reliable. They are extensively utilized to improve efficiency and reduce the weight of electronic components by replacing traditional wire and circuit arrangements. Conductive inks have various advantages, such as reduced material density, low component weight, and easy handling. As a result, the adoption of conductive inks increases to improve the quality and quantity of small and efficient electronics.

China dominates the entire value chain of the global electronics manufacturing business and is heavily investing in new techniques to create miniaturized electronics products rapidly. Thus, the growing demand for minimizing space that are required in smartphones, wearables, and other gadgets will boost the miniaturization trend and rise the demand for efficient electronic devices bolsters the conductive inks market growth.

Impact of COVID-19 Pandemic on North America Conductive Inks Market Growth

The COVID-19 pandemic negatively impacted countries in North America, such as the US, Canada, and Mexico. The automotive and printed electronic industries reported low production and witnessed a profound supply chain disruptions during the initial phase of the COVID-19 outbreak. Conductive ink manufacturers, such as DuPont, Creative Materials Inc., CHASM, and Vorbeck Materials Corp., temporarily closed their production facilities. Thus, slowdown in the conductive ink production, trade restriction, and raw material shortages restrained the conductive inks market.

Before the COVID-19 pandemic, the growing automotive industry in North America, rising penetration of electric vehicles, and increasing awareness regarding health propelled the demand for miniaturization of devices. The consumer electronic industry witnessed an inclined growth. Also, the rising demand for small and lightweight electronics, such sports wearables watches, and electronic medical devices to monitor health is contributing the growth of the conductive ink market. Furthermore, in the pre-pandemic scenario, the renewable energy in North America was showing rapid growth, and it is one of the fastest growing segments in the region. For instance, in 2020, the US generated total energy of 3.3% from solar generation, and it is the fastest growing electric source. Renewable energy consumption in the US is expected to grow at a rate of 2.4% per year over the next 30 years, outpacing the overall growth rate of 0.5% per year in energy consumption. The production tax credit (PTC) and the investment tax credit (ITC) are two federal tax credits that have aided renewable energy in the US. Solar power is expected to account for 3% of Canada's total electricity generation capacity by 2040, according to the Canada Energy Regulator (formerly the National Energy Board). In 2021, country borders reopened, and cross-border traffic came to normal. Many domestic and international flights resumed, including those for exports via air corridors, resulting in improving trading activities and the supply chain operations. Further, the demand for RFID technology is increasing as it is used in variety of applications, such as passports, smart cards, and various transportation system. Thus, the resumption of flights increased the demand for RFID tags, which supported the North America conductive inks market growth.

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