Majorly driven by growing uptake in consumer electronics, and the rising buzz around smart clothing, global conductive ink market reached approximately US$3 Bn in revenue in 2021. A stable growth outlook is expected over the next few years.
Use of Conductive Inks in Smart Clothing to Offer New Opportunities to Global Conductive Ink Market
With propagation of technology across various applications, smart wearables are witnessing a paradigm shift with introduction of wearable electronics. So is the case with clothing as it plunges into the smart realm. The use of mart clothing has transformed the sports industry. Using this technology, it has become possible to gain insights and data apropos to performance tracking of Olympic contenders, soccer players, golfers, and other sporting activities. Recent studies carried out by Taiwan Textile Research Institute (TTRI), and National Research Council of Canada (NRC)’s Advanced Electronics and Photonics (AEP) Research Centre reflect that wearable electronics can be taken to the next level. According to their research, manufacturers can embed novel electronic functionalities in garments. By using conductive ink as a replacement for wires, the method of integration can draw circuits on various materials such as films, paper, and textiles. Moreover, it also ensures survival of circuits from washing. In addition to sports, use of conductive inks in textiles also facilitates tracking of routine activities and can prevent occurrence of critical health conditions such as heart failure and manage overall life quality. In this background, applications in textile garments are expected to provide potential avenues for the conductive ink market in the coming years.
Soaring Need for Miniaturisation in Consumer Electronics Industry Augurs Well for Conductive Ink Market
Consumer preference for lightweight, and small electronic devices has resulted in an increased demand for miniaturisation in the consumer electronics sector. Using lightweight material, the functional efficiency of the device can be enhanced significantly alongside reducing material input and saving energy. Conductive ink is an effective, efficient, and reliable option for replacement of conventional circuit arrangement, and wiring which can reduce weight of the component and improve its efficiency. That said, using conductive inks can reduce material density, component weight and enables easy handling. This factor remains instrumental in driving their demand, consequently influencing growth of the conductive ink market.
Silver-based Inks to Grow Prominent in Conductive Ink Market
Silver inks are witnessing high demand and are expected to account for a major revenue share in the conductive ink market. Silver-based conductive inks are widely used in the manufacturing of high performance electronic devices owing to their superior thermal and electrical conductivity and chemical stability. Moreover, their ability to conduct electricity in the oxide state has fuelled their adoption in manufacturing of flexible and printed electronics. This is mainly owing to the low melting point of silver particles that has facilitated manufacturing of thin conductive films which are used in flexible substrates. In this backdrop, the demand of silver inks is poised to increase significantly, thus complementing the growth of the conductive ink market.
Asia Pacific Continues to Surge Ahead in Terms of Revenue in Global Conductive Ink Market
Demand for conductive ink in Asia Pacific region is expected to spearhead at a momentous pace in the following years. This can be attributed towards increasing adoption of conductive ink in industries such as touch screens, photovoltaics, automotive and microelectronics. Moreover, increasing sales of consumer electronics in emerging nations owing to growing purchasing power is expected to provide opportunities of growth for conductive ink market. In addition, the emergence of electric vehicles in the region and their increasing sales is expected to boost the use of conductive inks. According to International Energy Agency (IEA), electric vehicle sales in China almost tripled to touch a 3.3 million count in the end of 2021. This figure accounted for about half of sales of electric vehicle globally. Based on Net Zero Emissions by 2050 Scenario, IEA also reveals that by end of 2030, approximately 300 million electric vehicles would hit the roads. This aspect is expected to fuel demand for electronic components used in electric vehicles, in turn further pushing use of conductive ink.
Furthermore, on the back of growing environment concerns apropos to use of fossil fuels, government authorities in Asian countries are promoting use of renewable sources. This has propelled use of solar photovoltaics to meet the growing energy demand. In this backdrop, rampant progression of consumer electronics, rising electric vehicle sales and increasing inclination towards use of photovoltaics is expected to bolster growth of the conductive ink market in Asia Pacific region. Companies involved in the manufacturing and distribution of conductive inks can expect potential avenues from the region backed by its optimistic business scenario.
Conductive Ink Market: Competitive Scenario
New product introductions based on research and development initiatives and other strategic moves such as collaborations and acquisitions by major players have been witnessed in the conductive ink market. For instance, in 2022, Encres DUBUIT concluded the acquisition of POLY-INK. This acquisition will position Encres as a major player in printed electronic applications by adding conductive inks to its product portfolio.
On the other hand, in April 2022, Electroninks Inc. launched a new suite of MOD (Metal-Organic Decomposition) conductive ink solutions to strengthen its position in the market using this innovation. Similarly, same year in January, Nano Dimension, by collaborating with XTPL S.A., introduced the next-gen nano particle conductive ink. This conductive ink would be an apt solution for AME (Additively Manufactured Electronics) applications facilitating high performance and high conductivity material for 3D electronic printing. Main objective being portfolio expansion, Nano Dimension aims to develop the AME market. Likewise, in 2022, HydrogGraph Clean Power Inc. announced the launch of its patented graphene ink. This new conductive ink maintains key qualities of graphene such as strength, flexibility, optical transparency, and non-toxicity.
A few of the major players in conductive ink market include DowDupont (US), Applied Ink Solutions (US), Sun Chemical Corporation (US), Henkel AG & Co. KGaA (Germany), Johnson Matthey (UK), Creative Materials Inc., (US), Heraeus Holding GmbH (Germany), Vorbeck Materials (US), and NovaCentrix (US).
The Global Conductive Ink Market Is Segmented As Below:
Key Elements Included In The Study: Global Conductive Ink Market
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