Conductive Ink Global Market 2023

Conductive Ink Global Market 2023

Conductive inks have gained widespread applications worldwide, initially in printed circuit boards for electronic devices. However, as electronics and materials science have advanced, their use has expanded to diverse fields such as solar, medical, and electronics. Various methods, including flexography, rotogravure, screen printing, spraying, dipping, syringe dispensing, and stencil printing, can be employed to apply conductive inks.

The global conductive inks market revenue grew at a CAGR of 10.7% from USD 3,469 million in 2020 to USD *** million in 2023. This growth trend is expected to continue, with the global market projected to reach USD *** million in 2028, growing at a CAGR of 5.4% from 2023 to 2028. Conductive inks are composed of conductive pigments like nickel, copper, silver, or different types of carbon, either dissolved in a solution or suspended as particles. The formulation of conductive ink varies depending on the printing process or application method, as different applications require distinct qualities.

Silver conductive inks held the largest market share at ***% in the global conductive ink market in 2022, renowned for their excellent conductivity. Silver & silver chloride inks exhibited remarkable revenue growth of ***% in 2022, reaching USD *** million. An example of silver conductive ink utilizes silver nanoparticles to form a smooth and highly conductive layer on nonconductive surfaces. It can be applied through various methods, including spraying with an air compressor and a spray gun.

In terms of application segments, the photovoltaic cell segment accounted for the largest consumer share of conductive inks in 2022, comprising ***% of the global market. Thin-film PV solar cells are gaining prominence due to their cost-effectiveness compared to silicon cells, simplified production costs, and improved flexibility. These cells can be categorized based on the absorber or semiconductor used, including cadmium telluride, organic (dye conversion), a-Si, and CIGS. This surge in thin-film PV cell adoption is expected to drive the demand for conductive inks, which play a vital role in these advanced photovoltaic technologies.

Asia-Pacific emerged as the dominant player in the conductive inks market in 2022, capturing a significant share of ***%. North America and Europe followed closely with shares of ***% and ***% respectively. Germany held the largest share in the European market, being a major consumer of conductive inks. The country hosts several small-scale and large-scale manufacturers operating in various markets, including photovoltaic, automotive, aerospace, and consumer electronics.

The global conductive ink market in 2022 exhibited a fragmented landscape, with top manufacturers such as Henkel AG & Co. KGaA, DuPont de Nemours, Inc., Sun Chemical Corporation, and Heraeus Holding GmbH. Other prominent players include InkTec Co., Ltd., Johnson Matthey plc, Daicel Corporation, Vorbeck Materials Corporation, Novacentrix Corp., Creative Materials, Inc., Kayaku Advanced Materials, Inc., Inkron Oy, and ELANTAS GmbH, among others, contributing to the market's growth and innovation.