Global Functional Printing Market Size, Share & Review 2020-2024

Posted by Monica nerkar on January 24th, 2020

The global functional printing market had reached the valuation of USD 10.52 billion in 2018 and can touch the valuation of USD 30.27 Billion by 2024, estimates Market Research Future (MRFR). The market is projected to grow at a rate of 19.26% during the forecast period (2019-2024).

Market Boosters and Key Barriers

At present, printing technologies are not particularly designed to be used in functional printing, which has prompted several organizations to explore techniques to develop new technologies for this purpose. The rising adoption of functional printing across the globe is the result of the soaring demand for numerous low-cost electronic commodities. With the availability of a vast range of printing technologies and materials, a number of organizations are now able to achieve fast-paced manufacturing at low costs.

There are various factors that ensure a promising future for the functional printing market. It is a revolutionary technology with the potential to bring in the next wave in large-scale electronic production. The future growth of the functional printing market is inevitable, given the lower energy consumption as well as material wastage, that has an insignificant impact on the environment. These factors boost its demand among manufacturers and favor market growth as well.

Market opportunities in the form of new applications, integration, and functionalities of many electronic products ensure a successful run for the functional printing market during the review period. On top of that, capabilities like fine printing of structure along with cost advantages in fabrications offer a host of growth opportunities to the functional printing market.

Market Segmentation

The worldwide functional printing market has been studied on the basis of segments including material, printing technology, and application.

Material-wise, the market includes substrates and inks. The substrates segment is considered for plastic, glass, silicon carbide, paper, gallium nitride (GAN), and others. The inks segment consists of graphene ink, conductive inks, dielectric inks, and others.

Depending on the printing technology, the market caters to screen printing, inkjet printing, flexography, gravure printing, and others.

With respect to the application, the market segments are displays, sensors, batteries, lighting, RFID tags, photovoltaics, and others.

Regional Analysis

The geographical distribution of the global functional printing market includes Europe, Asia Pacific (APAC), North America, along with the rest of the world (RoW).

High demand for near-field communication (NFC) has established North America as the leading market for functional printing. With the fast-paced growth in smartphone technology in the region, mobile phones are now the best options for payments. With payments becoming easier and hassle-free due to the NFC chip in smartphones, the majority of people in the region now indulge in transactions using their handheld devices. Also, the thriving retail sector in the region stimulates market growth.

Europe has managed to grab the second position in the global functional printing market, thanks to the high demand for near-field communication (NFC) as well as early adoption of the latest technologies. 3D printing enjoys robust demand in the region, encouraging the manufacturers to revamp their business models as well as supply chains using distributed 3D printing. The region possesses a well-rounded technical infrastructure that boosts adoption of advanced technologies., ultimately augmenting market demand.

The APAC market for functional printing is expected to grow at the fastest rate, with advanced technologies being adopted in countries like India, China, and Japan. The region is inundated with a large number of printing vendors and electronic companies, which make use of printing in their manufacturing processes.

Leading Companies

Leading companies in the worldwide functional printing market are Eastman Kodak Company Ltd (US), Enfucell Oy (France), BASF SE (Germany), Blue Spark Technologies (US), HP Development Company, L.P. (US), E Ink Holdings Inc. (Taiwan), GSI Technologies LLC (US), Haiku Tech (US), Display Corporation (US), Avery Dennison Corporation (US), and others.

Other companies in the functional printing market include Nanosolar Inc. (US), Novaled AG (Germany), Toppan Forms Co. Ltd (Japan), Isorg (France), Xaar PLC (UK), Optomec Inc. (US), Xennia Technology Limited (UK), Toyo Ink Sc Holding Co. Ltd (US), Vorbeck Materials Corporation (US), Mark Andy Inc. (US), to name a few.

Browse Complete Report "Functional Printing Market Research Report - Global Forecast till 2024" @ https://www.marketresearchfuture.com/reports/functional-printing-market-7978