Market Definition
2021 has been a promising year for printed electronics, with substantial investments and various applications witnessing commercial adoption. The technology refers to electronic devices being developed on different substrates like polymers, paper, glass, etc., using conductive inks, which are electrically conductive printable inks used in printed electronics. OLEDs, wearable devices, biosensors, & displays are a few typically used printed electronics. Electronics developed on substrates are more eco-friendly, flexible, lightweight, & cost-effective than traditional ones.
Market Insights
With the increasing demand for smaller, compact, & less expensive products, electronic component manufacturers are incorporating low-cost & high-volume solutions. Printed electronics are amongst the most cost-effective production methods for certain electronic applications and are gaining significant traction across different industries in Southeast Asia.
The Southeast Asia Printed Electronics Ink Market is projected to witness considerable growth during the forecast period, i.e., 2022-27. Southeast Asia has experienced a massive influx of Foreign Direct Investment (FDI) in the Electronics manufacturing industry, which, in turn, has boosted the demand for printed electronics inks across the region during 2017-19.
Major countries in the region, including Vietnam, the Philippines, Indonesia, & Malaysia, massively produce consumer electronics like TV, cellular phones, radios, computers, etc. The region also makes critical electronic components, such as hard disk drives & semiconductors. With all the available assembly lines for manufacturing electronic goods, the Printed Electronics Ink products have been in significant demand, which is further likely to grow with the mounting influx of FDI in Southeast Asia.
Moreover, the demand for high-quality ink & coating materials is increasing among manufacturers, which could help manufacture lighter, smaller, and technologically advanced products. Hence, this offers lucrative growth opportunities for the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| Countries Covered | Singapore, Indonesia, Malaysia, Thailand, Vietnam, Rest of Southeast Asia |
| Key Companies Profiled | Henkel, DuPont, BASF, Sun Chemical, Novacentrix, E Ink Holdings, ELANTAS, Molex, GenesInk, MacDermid Alpha Electronics Solutions |
| Unit Denominations | USD Million/Billion |
Impact of Covid-19 on the Southeast Asia Printed Electronics Ink Market
Market Segmentation
By End-User:
The automotive industry holds promising growth across Southeast Asia in the coming years, which, in turn, would propel the demand for inks used in printed electronics owing to the upcoming plans of automotive manufacturers to expand their vehicle production capacities.
In April 2021, Vingroup announced establishing its second automobile plant in Indonesia. The company has sold 30,000 cars in 2020, which is expected to reach more than 45,000 units in 2021.
The application of printed electronics is becoming more common across the automotive industry, especially for manufacturing OLED displays/taillights or sensors & heating elements in seats. The conductive ink used for printing seat heaters helps make vehicles safer & more comfortable.
The rising trend of autonomous vehicles has fundamentally transformed the automobile interiors with the increasing usage of sensors & touch screens. This trend augments the demand for Printed Electronics and, consequently, for inks used in them.
By Resolution
With the mounting need of end-users for smaller & compact electronic devices, the need to print smaller electronic boards and circuits is increasing significantly. Hence, above 200 Lines/cm resolution type inks shall experience a rapid increase in their demand during 2022-27.
Currently, 200 Lines/cm resolution printable inks hold a significant market share, mainly due to the majority of assembly lines & electronic manufacturing units and the availability of old systems that use them for printing on electronic devices. However, the demand is expected to slowly shift to resolution above 200 lines/cm due to the highly dynamic electronic industry, i.e., experiencing a trend to make compact devices, which requires the devices to work on a higher resolution.
Recent Developments:
Country Landscape:
Here, the Printed Electronics Inks Market witnessed a noticeable growth in Malaysia during 2017-19. It owes to the rising inflow of FDI into the electronics manufacturing industry and growing industrial base in the country, thereby promoting the growth of the electronic manufacturing industry and driving the demand for inks used in printed electronics.
Market Dynamics
Key Drivers
Thriving Electronics Industry in Southeast Asia to Spur the Demand for Printed Electronics Inks
The electronics industry in Southeast Asian countries like Vietnam, Malaysia, Thailand, Indonesia, etc., has witnessed massive investments in production capacity expansion. It, in turn, has increased the demand for printed electronics inks to encourage production & promote the growth of the allied electronic industry.
Vietnam, one of the Southeast Asian countries, is experiencing sustained growth even with the negative impacts of Covid-19 on its economy. According to the General Department of Customs, Vietnam, the country's electronics industry earned USD 77.58 billion in the first nine months of 2021. As per the statistics, the handsets & components contributed around USD 41.02 billion, i.e., 11.5% growth compared to the same period in 2020. This trend was witnessed in the exports of electronics from Vietnam to its neighboring Asian countries like China, India, the Philippines, etc.
Some other prominent growth factors include:
Growth Challenges
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Southeast Asia Printed Electronics Ink Market is forecast to observe considerable growth during 2022-27
A. The Automobile Industry is the most promising sector in Southeast Asia Printed Electronics Ink Market and is projected to present lucrative growth opportunities for the leading players in the market during 2022-27
A. The rapidly expanding electronics industry in Southeast Asia and mounting demand for miniaturization of electronic devices are the key factors driving the Printed Electronics Ink Market during 2022-27.
A. With the reopening of manufacturing units and supply chain recoveries, the Southeast Asia Printed Electronics Ink Market shall witness steady growth in the coming years.
