Conductive Inks Market size is expected to grow with a significant rate of CAGR during the projected timeframe. Extensive use of printed circuit board technology across medical, electronical and solar appliances will positively drive the conductive inks market size during the forecast timeframe. The product has its wide application in touch screen based electronic devices. It is mostly used in the membrane touch switches, desktop keyboards, heating elements, touch screens, automotive sensors, EL lamps, printed circuit boards and potentiometers. When compared to in comparison to conventional industrial standards such as etching copper through copper plated substrates, the product offers an economic solution across its application to provide efficient conductive traces.
Automotive industry is of the prime end-users of conductive inks market. Thus, escalating automotive production and sales will ultimately drive the industry growth as the product is widley used manufacturing automotive sensors. For instance, the overall automotive sales (commercial and personal vehicles) in 2017 was over 96 million units.
The conductive inks are economical then the traditional processes but are still expensive and less rigid on unstable bases such as printed paper and plastic sheets. It may pose as a hindrance to the growth of the conductive inks market size in the near future. Technological advancements in the healthcare and medical device manufacturing industry results in improvement of equipment functionality and precision of the device. To achieve high precision conductive inks plays a vital role. Thus, strong growth indicators in the healthcare and medical industry will subsequently propel the global conductive inks market size by 2024.
Based on product, conductive inks market size is segmented into carbon conductive inks, silver conductive inks, silver chloride inks, silver nano inks, etc. Silver inks are used in printing Radio-Frequency Identification (RFID) tags which are used in modern transit tickets. These are also used in repairing printed circuit boards. Silver conductive inks include screen-printable solutions and water-based which offers superior crease resistance and flexibility.
According to its applications, the conductive inks market is divided into sensors, biosensors, touch screen, RFID, PCBs (Printed Circuit Board), solar panels, etc. RFID technology is profoundly used in a wide a variety of devices such as passports, smart cards, credit cards, etc. It offers high adhesion, flexibility, and compatibility requirements which makes it ideal for a wide-range of applications. Additionally, RFID products have to be capable of transmitting and receiving specific radio frequencies.
The conductive inks market size has much higher chances for growing in the Asia-Pacific, Middle East & Africa, and Latin America due to their rapid and considerable growth in the economy. Asia-pacific with the highest economic growth will provide lucrative business growth opportunities for conductive inks market size in the near future. China leads the global conductive inks market size due to robust growth in photovoltaic and consumer electronics sector in the country. For instance, China accounts close to 30% of the global automotive production and thus holds a prominent demand share in the overall conductive inks market. In addition, rapid industrialization in Asia Pacific coupled with improved consumer spending power has positively included electronic product sales in India, Indonesia and other APAC countries, this trend shall boost regional conductive inks market size by 2024.
Conductive inks market size is competitive with major companies holding decent industry share. Some of the key players involved in the business are Henkel AG & Co. KGaA, NovaCentrix, Poly-ink, Sun Chemical Corporation, Heraeus Holding GmbH, Creative Materials Inc, Fujikura Ltd, Conductive Compounds Inc., Parker Chromerics, Vorbeck Materials Corp., Johnson Matthey Color Technology, Applied Nanotech and Pchem Associates Inc.
Key players across the industry ecosystem are engaged in technological innovation in order to provide a competitive product portfolio to their customers across the globe. In addition, major players including Henkel have a wide array of products serving all the prime industry end-users including electronics, automotive, medical & healthcare industry, etc. This helps in the company to expand their business operations and achieve competitive advantage over other players in the business.