Southeast Asia Printed Electronics Ink Market Research Report: Forecast (2022-2027)

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.

Impact of Covid-19 on the Southeast Asia Printed Electronics Ink Market

• Lockdown measures, escalating Covid-19 infection, supply chain disruption, delayed investments, and economic uncertainties in 2020 were the key reasons that hampered the growth of the Printed Electronics Ink Market.
• Due to the Covid-19 pandemic, the electronic industry got adversely impacted and negatively influenced the demand for printed electronics inks.
• The manufacturing facilities of electronic components were put on hold due to the unavailability of the workforce & logistic slowdown.
• The display industry was also significantly impacted due to the pandemic, as the display manufacturers experienced disruptions in the production & supply chain.
• However, with increasing government initiatives to recover economic losses, the Printed Electronics Ink market expects its revival and decent growth in the coming years.

Market Segmentation

By End-User:

• Automotive
• Consumer Electronics
• Retail and Packaging
• Construction
• Others (Healthcare, Aerospace and Defense, etc.)

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

• Below 100 Lines/Cm
• 100 to 200 Lines/Cm
• Above 200 Lines/Cm

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:

• In 2018, DuPont launched its second generation of In-Mold Electronic (IME) materials with prime advancements like significantly more flexibility than epoxy-based systems, better cost savings, and shorter processing times. The second generation IME is also ideal for attaching LEDs & microcircuit controllers.

• In April 2021, Janoschka, a known leader for providing integrated prepress solutions for the packaging industry announced to integrate DuPont™ Cyrel® EASY BRITE for better overall consistency while printing. 

• In 2020, Henkel along with six medical & technology companies developed smart health patches that enable continuous, wireless, & remote monitoring of the heart rate, respiration, & temperature of patients.

Country Landscape:

• Singapore
• Indonesia
• Malaysia
• Thailand
• Vietnam

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.

• In February 2021, Leuze electronic GmbH + Co. KG, an optical sensor manufacturer announced to choose Malaysia for establishing its new production plant.
• In June 2021, Austrian company AT&S announced to invest USD 2.01 million for establishing a production facility in Malaysia for high-end Printed Circuit Boards (PCBs) and Integrated Circuit (IC) substrates.

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:

• Increasing demand for IoT devices
• Rapid expansion of the automobile industry
• Rising demand for printed RFID devices & OLED displays

Growth Challenges

• High costs associated with research & developments on printed electronics inks
• Lack of knowledge about substrate & material selection while adopting the printed electronics approach might hinder the market growth

Key Questions Answered in the Market Research Report:

1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Southeast Asia Printed Electronics Ink Market?
2. What is the country-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Southeast Asia Printed Electronics Ink Market?
4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Southeast Asia Printed Electronics Ink Market based on a competitive benchmarking matrix?
5. What are the key results derived from surveys conducted during the Southeast Asia Printed Electronics Ink Market study?