The global automotive printed electronics market is on a trajectory of substantial growth, with a projected CAGR of 22.1% during the forecast period from 2023 to 2030, aiming to reach a market value of approximately US$13 billion by the end of 2030.
Market Overview:
The automotive printed electronics market encompasses the sale of printed electronic products, including electronic circuits, displays, antennas, electronic skin patches, and sensors. Printed electronics represent a technology that enables the creation of thinner and more wearable electronic devices, known for their precision and cost-effectiveness. These technologies facilitate the development of gadgets, sensors, and uniquely shaped components that can be seamlessly integrated into various substrates and existing products.
Automotive Printed Electronics Market:
The automotive sector is experiencing notable developments in printed electronics, driven by the introduction of on-cell touch e-paper modules and increasing demand for printed electronic devices in transportation. Expansion in the consumer electronics industry, growing acceptance of the Internet of Things (IoT) by various industries, and the significant cost advantages associated with printed electronics are pivotal factors propelling the markets growth.
Key Report Findings:
- The automotive printed electronics market is poised for significant expansion through 2030.
- Key drivers include rising demand for advanced OLED displays, printed RFID tags, and increased use of IoT applications in automotive devices.
- Screen printing technology holds the largest share in the automotive printed electronics market.
- Displays emerge as the leading category in the automotive printed electronics market.
- Asia Pacific leads the market, while Europe is set for strong growth until 2030.
Growth Drivers:
Significant Cost Benefits Associated with Printing Electronics:
Printed electronics offer substantial cost advantages compared to traditional electronics manufacturing techniques. The use of low-cost printing processes, lightweight substrates, and high-volume production methods reduces manufacturing expenses. Flexible substrates and thin layers enable the development of flexible electronic devices and roll-to-roll (R2R) printing, further enhancing economic benefits. R2R printing, encompassing various techniques, significantly contributes to high-volume manufacturing of electronics, including solid-state lighting, flat-panel displays, and solar cells.
Increase in Printed Electronics Use in Automotive Industry:
Printed electronics find application in various automotive components, such as transparent heaters, antennae, battery warmers, sensors, interior heaters, flexible displays, lighting, in-mold electronics, and more. The automotive sectors growing preference for electric vehicles (EVs) and autonomous vehicles fuels the adoption of printed electronics. These technologies are instrumental in enhancing vehicle interiors, exteriors, and engine applications. Innovations like deicing windows, electrochromic dimming mirrors, and glass roof elements further drive market growth. Additionally, smart packaging, encouraged by government regulations, contributes to increased demand for printed electronics in the automotive and packaging industries.
Market Challenges:
Technical Difficulties in Manufacturing and Commercialization:
Creating printed electronics involves various ink types, including functional inks, which present challenges due to high resistance and low electrical conductivity. Conductive inks, primarily silver-based, offer excellent electrical conductivity but require high-temperature sintering and are sensitive to substrate limitations. Carbon inks, a cheaper alternative, suffer from weak substrate adherence and limited conductivity. Developing and commercializing high-quality graphene-based printed electronics pose challenges, although graphene ink has the potential to replace silver inks.
Overview of Key Segments:
Inkjet Printing Poised for Fastest Growth:
While screen printing technology currently dominates the automotive printed electronics market, inkjet printing is anticipated to exhibit the highest growth rate. Inkjet printing offers digital, flexible, cost-effective, and scalable manufacturing. It minimizes ink usage, waste generation, and chemical waste, making it attractive to the automotive industry, particularly in interior applications like decoration, displays, lighting, and sensors.
Displays Segment Contributes Significantly:
The displays segment is the primary revenue contributor in the automotive printed electronics market. Growing demand for energy-efficient display technology drives its growth, with OLED displays gaining prominence. Innovative applications include curved displays in dashboards, integrated lighting, and touch surfaces. Lighting, sensors, and heaters are other key applications within the automotive printed electronics market, with organic LED technologies poised to reduce vehicle weight and production costs.
Growth Opportunities Across Regions:
Asia Pacific Leads:
Asia Pacific is set to maintain its leadership in the automotive printed electronics market, driven by its status as a manufacturing hub, the presence of numerous OEMs, and increasing consumer awareness of printed electronics benefits. Availability of a wide range of raw substrates further supports demand. China, Japan, South Korea, and India are pivotal contributors to the regions market growth, owing to expanding R&D investments and the growing adoption of printed electronics.
Europe Develops Lucrative Potential:
Europe is expected to witness substantial CAGR in the automotive printed electronics market, fueled by rising R&D investments and broader acceptance of printed electronics in applications like photovoltaics, lighting, and RFID devices. Advancements in technology and the popularity of electronic products further drive market expansion. Government regulations encouraging innovative technology adoption boost demand in the automotive and packaging sectors. RFIDs role in healthcare institutions, as well as investments in cutting-edge consumer electronics, contributes to market growth in the region.
North America Focuses on EV Infrastructure:
In North America, the US holds a significant revenue share in the automotive printed electronics market. The regions market growth is attributed to substantial investments in improving electric vehicle (EV) infrastructure and technology adoption, including IoT and vehicle electrification.
Automotive Printed Electronics Market: Competitive Landscape:
Key players leading the global automotive printed electronics market include Samsung Electronics Co. Ltd., LG Display Co. Ltd., E Ink Holdings Inc., Nissha Co., Ltd., Molex LLC, Jabil Inc., ALT Technologies, and Quad Industries.
Browse Global Automotive Printed Electronics Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 (By Substrate Outlook Coverage, By Technology Outlook Coverage, By Application Outlook Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/automotive-printed-electronics-market
Similar Reports:
Power Electronics Market: https://www.fairfieldmarketresearch.com/report/power-electronics-market
Active Electronic Components Market: https://www.fairfieldmarketresearch.com/report/active-electronic-components-market
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: [email protected]
This press release first seen on Brilad
COMTEX_440961501/2840/2023-09-26T05:58:39
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Smart Herald journalist was involved in the writing and production of this article.