Global Functional Printing Market Size, Outlook By Product, Trends and Forecast To 2024-2032

Functional Printing Market Valuation – 2023-2030

Functional Printing market size was valued at USD 12.57 Billion in 2023 and is projected to reach USD 61.66 Billion by 2030, growing at a CAGR of 20.3% during the forecasted period 2024 to 2030.

Functional Printing Market: Definition/Overview

Functional printing is a process of integrating functionality into the 3D and 2D silicon-based components. This process is primarily used to print on glass and paper using inks and substrates. It is widely being used for the production of photovoltaic cells, display, sensors, and RFID tags owing to its precision and control in designing and patterning. Therefore, functional printing is likely to create the next big wave in the electronic industry in the coming years.

Which are the Key Drivers Boosting Functional Printing Market Growth?

Growing advancements in the in the printing technologies, processing, and materials will is likely to increase its application for larger production of printed electronics. The constant development in the technologies is estimated to steer the market growth. Rising popularity of smart packaging, wearable smart devices, and high-end flexible displays clubbed with Internet of Things (IoT) is increasing the demand for lightweight and flexible electronic gears. Thus, the need for precise and detailed electronics is opening better growth prospects for the market.

Also, need for cost-effective tools for large-scale production is primary factor increasing the adoption of functional printing systems in industries developing detailed electronics. The healthcare sector is the major consumer of functional printing solutions owing to its surging application in the biosensors, drug delivery systems, and wearable health monitoring devices. Thus, functional printing is likely to cater the need for customized healthcare solutions, projecting to surge the sales.

Demand for functionally featured 3D objects is found to gain momentum in the various industries such healthcare, electronics, and automation. This growing interest in 3D printing is creating lucrative opportunities for the market.In the meantime, the growing environmental concerns is bolstering the focus on the application of eco-friendly material and negligible waste generation. This is likely to align with the current trend surrounding practice of sustainable and green technologies. Moreover, growing government funding in the ongoing functional printing research and development will create better global prospects for functional printing.Overall, the ease of personalizing and customizing tools and gears is projected to enhance its attractiveness in the end-use industries.

What are the Challenges Restraining Functional Printing Market?

Though the functional printing market is experiencing rapid growth, the challenges must be addressed to continue growing during the forecast period. Limitations surrounding the use of certain inks used for functional printing is one of the major factors hindering market growth. Similarly, the restrictions in designing specific electronic devices will further restrain the market.

Lack of process and material standardization in the functional printing industry can impact interoperability and product compatibility. Thereby, hampering the sales of functional printing in the coming years. Also, the cost surrounding the installation of high-end functional printing solutions is estimated to act as a barrier for the small and medium enterprises. Above all, the shortage of skilled technicians to operate functional printing technologies is projected to further hinder market growth.

Category-wise Acumens

Will Rising Use of Inks Drive the Functional Prinitng Market?

Increasing demand for intricate design with improved performance are the factors surging the use of inks at the time of functional printing. Also, the growing demand for printing-specific patterned sensors, chips, and semiconductors from the consumer electronics industry is likely to favor market growth.  Thus, the growing demand for inks is projected to account for its maximum share in the market. Moreover, the rising demand for bioprinting in the healthcare sector to offer better treatment options is estimated to further steer the sales.

Which Application is Poised to Fuel Sales of Functional Printing?

The display segment is projected to exhibit substantial growth during the forecast period. The factors attributing to the growth of the market include rising demand for flexible, cost-effective, lightweight, energy-efficient displays. Furthermore, the growing inclination toward smartphones, wearable smartwatches, and smart packaging are likely to further create a conducive environment for market expansion.

How will Inkjet Printing Technology prove Opportunistic for Functional Printing Market?

Inkjet printing technology is turning into a multi-billion-dollar market owing to its rising application in printing electronics, biochip production, display devices, and product decoration. These applications are offering sustainable growth prospects for the market.

Growing adoption of inkjet printers to offer higher productivity, variable data printing, and better in-plant printing operations are other factors spurring the sales of functional printing. The rising popularity of 3D printing technology for speeding up prototyping is projected to offer the industries with better design options.

Country-wise Acumens

Will Rising Application of RFID Tags in Retail Industry Drive the North America Functional Printing Market?

Evolving smartphone technology is increasing the demand for near-field communication (NFC) owing to the rise in the use of online payment options. Thus, the integration of NFC chip in smartphones is projected to boost sales in North America.

Advancing retail and consumer goods industry is increasing the use of RFID tag, thereby speeding the sales of functional printing solutions. The ease in tracking the merchandise and product details from the warehouse to the store is projected to further enhance growth of the market. Similarly, easy availability of raw materials such as inks and substrates will drive the market.

How are China and India Contributing to Growth of the market in Asia Pacific?

According to Market Research, China and India are countries steering the growth of the market owing to the prevalence of leading electronic companies in the region. Thus, Asia Pacific region is expected to provide endless growth opportunities for the functional printing market. In addition to this, the expanding consumer electronics industry is projected to surge the demand for sensors and semiconductors. Thereby, offering profitable opportunities for market growth.

Global Functional Printing Market: Segmentation Analysis

The Global Functional Printing Market is segmented based on Technology, Application, and Geography.

Functional Printing Market, By Technology

• Inkjet Printing
• Screen Printing
• Flexography
• Others

Based on Technology, the global market is segmented into Inkjet Printing, Screen Printing, Flexography, and others. The manufacture of low-cost office and graphic arts printers, which has grown into a multibillion-dollar business, was the first significant application of inkjet technology. With the improvement of technology, it has moved into new markets like product decoration, flat panel display fabrication, biochip manufacturing, and printable electronics. Inkjet printing is gaining popularity due to its numerous advantages in various supply chains. Furthermore, with the growing demand for 3D printing, the technology is expected to evolve globally and increase the market growth of the functional printing market globally.

Functional Printing Market, By Application

• Sensors
• Displays
• RFID Tags
• Others

Based on the Application, the global market is segmented into Sensors, Displays, RFID Tags, and Others. By printing the antenna on a flexible substrate that is affixed to the object or directly on the packaging, printed UHF-RFID allows for supply chain management integration with everyday products or packaging. Furthermore, the region’s burgeoning retail sector is likely to drive RFID tag use, driving market growth. RFID eliminates the need for employees to manually scan things and automates the tracking of merchandise from the warehouse to the store floor, driving market growth and increasing the functional printing market globally.

Functional Printing Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Based on Geography, the global market is organized into North America, Europe, Asia Pacific, and the Rest of the world. Because of the rising need for near-field communication, the adoption of advanced technology, and the presence of better infrastructure in the region, North America is predicted to lead the Functional Printing Market. As the demand for low-cost, dependable, and durable electronic devices grows, new types of substrates and inks are being developed. It is boosting the growth of the Functional Printing market and its sales potential. Thereby it will increase the demand for the functional printing market.

Key Players

The “Global Functional Printing Market” study report will provide valuable insight with an emphasis on the global market. The major competitors in this market are BASF, Blue Spark Technologies, DuraTech Industries, E Ink Holdings, Eastman Kodak Company., Enfucell, ESMA, Nissha Co. Ltd, GSI Technologies, Isorg, Mark Andy, DowDuPont, and Avery Dennison Corporation. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In April 2022, Blue Spark Technologies, Aon joined a $40 million intellectual property-based financing solution sponsored by GT Investment Partners (“Ghost Tree Partners”) to fund the development. The funds will be used to expand Blue Spark’s sales and marketing responsibilities and enhance the company’s wearable remote patient monitoring solutions.
• In Jan 2020, BASF completed the purchase of Solvay’s polyamide division. The European Union Commission accepted Domo Chemicals, Leuna, Germany, as the buyer of BASF’s European polyamide company, which BASF could not buy under the authorities’ requirements. As a part of the deal, BASF’s polyamide capabilities will be expanded, including novel products. It also improves the company’s access to emerging markets in Asia, North America, and South America.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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