Conductive Ink Market Growth & Trends
The global conductive ink market size is expected to reach USD 4913.8 million by 2030, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2022 to 2030. Increasing demand for efficiency and miniaturization, and emerging applications to drive the market growth are some of the key factors that are presumed to drive the regional markets. R&D initiatives to develop superior robust products that have a wide application base across diverse industries offer ample opportunities for market development.
The surge in demand for properties such as smaller size, better energy efficiency, and better durability, conductive inks are used as a substitute for traditional wire circuits is anticipated to be beneficial for the overall market growth. Research initiatives to develop cost-effective raw materials, such as copper, nickel, and graphene, which have properties similar to that of silver, are projected to further aid in market growth in the near future. The research initiatives are undertaken by both government and industry participants and are expected to increase multiple potential applications, which in turn are projected to complement the global market growth.
The market has been segmented into three segments on the basis of product, application, and region. Major products of conductive Ink include conductive silver ink, conductive copper ink, conductive polymers, carbon nanotube ink, dielectric inks, and carbon/graphene ink. conductive silver ink dominated the market demand for the last few years. Prominent conductive Ink applications include photovoltaic, Membrane switches, Displays, Automotive, Smart packaging, biosensors, printed circuit boards, and other applications. Photovoltaic applications dominated the global market.
Regionally, the market has been segmented into North America, Europe, Asia Pacific, Central and South America, and the Middle East and Africa. The Asia Pacific occupied the largest market share in the recent past. Macroeconomic factors in the Asia Pacific such as the expanding middle class, rising disposable incomes, education, changing demographics, and rapid urbanization are driving the market in the region. The demand for conductive inks in consumer electronics is high in the region. The rising presence of key players in the Asia Pacific is also estimated to boost the overall growth of the market. Economies such as China, South East Asia, and India are projected to lead the regional market.
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Conductive Ink Market Report Highlights
Asia Pacific dominated the market and is expected to witness the fastest CAGR of 6.3% in terms of revenue during the forecast period
Conductive silver ink was estimated to be the largest product segment in the market in 2021 and is also anticipated to dominate the market during the forecast period
Photovoltaic was estimated to be the largest application segment in the market in 2021 with a revenue share of more than 21.0% and is also anticipated to dominate the market during the forecast period
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