According to the report "Conductive Inks Market by Type (Silver, Copper, Carbon/Graphene, Carbon Nanotube, Conductive Polymer), Application (Photovoltaics, RFID, PCB, Membrane Switches, Displays, Bio-Sensors, Thermal Heating), Region - Global Forecast to 2024
," the conductive inks market is projected to grow from USD $3.3 billion in 2019 to USD $4 billion by 2024, at a CAGR of 4% during the forecast period. The growth of the market can be attributed to the increasing consumption of conductive inks from various applications such as photovoltaics, RFID, PCB, membrane switches, displays, biosensors, and thermal heating, among others.
The silver conductive inks segment is projected to account for the largest market share, in terms of value, during the forecast period. Apart from being a good conductor, silver offers a conductive native oxide layer, which usually forms on the surface, unlike other metals. With advancing technological advancements, conductive silver inks are compatible with almost every printing technique, such as inkjet, screen, gravure, and flexography. The various properties, which make silver a suitable candidate for the manufacturing e of conductive inks include strength, corrosion resistance, and unaffected by moisture resistance.
Based on application, RFID is projected to be the fastest-growing application of conductive inks during the forecast period. This is due to the increasing demand for RFID in smart packaging. Many low-cost variants of RFIDs are being developed. The RFID system has the advantage of tracking long-distance communication between the tag and reader through ultra-high frequency (UHF) band. Hence, it is expected to witness high growth in the future.
APAC is estimated to be the leading conductive inks market. The growth in the region can be attributed to the growing demand for conductive inks from various applications such as photovoltaics, RFID, PCB, membrane switches, displays, bio-sensors, thermal heating, and others. The growth of these end-uses is expected to consequently drive the demand for conductive inks.