The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Conductive Ink Market.
It was estimated prior to this unanticipated outbreak that the Conductive Ink Market was expected to grow at a CAGR of 4.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Conductive ink is one of the major ingredients in printing of metal structures. It can be formulated by blending either nanoparticles or micron-sized particles that are highly conductive such as silver, gold, copper, zinc, or carbon.
Conductive Inks are of different types, such as silver, copper, carbon/graphene, carbon nanotube, conductive polymer, that are used in various applications, such as photovoltaics, RFID, PCB, membrane switches, displays, bio-sensors, thermal heating.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as silver inks, copper inks, carbon nanotube inks, carbon/graphene inks, conductive polymer and others. The silver ink segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The extensive use of silver ink in photovoltaic applications is the key driver for its dominance.
Based on the application type, the conductive ink market is segmented as photovoltaics, membrane switches, displays, automotive, bio-sensors, RFID, PCB, thermal heating and others. The RFID segment dominates the market as use of conductive inks in the printing of RFID chips offers several benefits, such as reduction in size and faster and more efficient production, which result in low cost of production and rising demand for RFID tags, which are propelling the growth of the segment during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing market for conductive inks during the forecast period, with China, Japan, India, and Australia being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of the photovoltaics, PCBs, touchscreen products and the increasing use of windshield sensors in vehicles. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Some of the major conductive ink manufacturers are-