Printed electronics have become crucial for various applications in healthcare, aerospace, consumer electronics, and automotive industries, among others, owing to their advantages such as lightweight, flexibility, and cost-effectiveness. Printed electronics make use of digital printing techniques like screen, gravure, inkjet and others for producing electronic circuits on different substrates like paper, plastic, fabric, glass, and metals by precisely depositing materials like electrodes, semiconductor materials, and interconnects. The usage of printable and flexible electronic components helps in the creation of smart and interactive packages, smart labels for identification and tracking, photovoltaic devices, and antennas, among others.
The Global South Korea Printed Electronics Market Size is estimated to be valued at US$ 330.3 Mn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the South Korean Printed Electronics are Samsung Display Co., Ltd., LG Display Co., Ltd., Seoul Viosys Co., Ltd., Agfa-Gevaert N.V., Optomec Inc. and Among Others. These players are focusing on new product launches and technological advancements in printed electronics.
The demand for printed electronics is increasing in various industries such as healthcare, consumer electronics, automotive, and industrial sectors owing to their lightweight, flexible nature and minimal environmental impact. Wearable devices and flexible displays are witnessing high demand globally.
South Korean companies are expanding globally through partnerships, mergers and acquisitions to increase sales and revenue. For instance, in 2022, Samsung Display partnered with InkTec Co. Ltd. to boost its printed electronics business globally.
Market Drivers
The increasing adoption of IoT devices and smart technologies is a major factor driving the growth of the South Korean printed electronics market. IoT devices such as sensors require flexible circuits and substrates which is increasing the demand for printed electronics. It is estimated that there will be over 50 billion IoT devices globally by 2030 connected through the internet resulting in high demand for printed electronic components.
Current Global Geopolitical Situation Is Impacting the Growth of South Korea Printed Electronics Market
The ongoing Russia-Ukraine war has disrupted the global supply chains while increasing inflation across countries. This has weakened the consumer spending power and demand for non-essential products including printed electronics. At the same time, South Korea being an export dependent economy, its trade is impacted due to economic sanctions against Russia. Additionally, the lingering effects of COVID-19 pandemic like new virus variants and lockdowns in some countries continue posing challenges. The printed electronics companies need to closely monitor the geopolitical developments and devise appropriate mitigation strategies. Some options are developing alternative supplier bases, backward integration, localizing production in key regions and focusing on fast growing segments.
Currently, South Korea dominates the Global Printed Electronics Market In Terms Of Value
With the presence of major players like Samsung and LG along with a robust electronics manufacturing ecosystem, South Korea accounts for over 30% of the global market revenue. The country is a leader in sectors like OLED displays, semiconductor materials and related technologies which provides a conducive environment for printed electronics adoption. Going forward, companies need to tap into opportunities beyond their domestic market by enhancing strategic collaborations, innovative product offerings and targeted marketing in high growth regions.
The Asia Pacific region excluding South Korea is expected to witness the fastest growth in the printed electronics market during the forecast period. Factors like rising electronics consumption, increasing urban population, expansion of manufacturing industries and favourable government policies will aid the market expansion in the region. China, Japan and India represent key high potential countries herein. Rapid digitization, affordable consumer electronics and priority on strategic industries present a plethora of avenues for market players to capitalize on. Their focus must be on building partnerships, optimizing supply networks and addressing security issues to sustain gains.
What Are The Key Data Covered In This South Korea Printed Electronics Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the South Korea Printed Electronics's growth between 2024 and 2031.
:- Accurate calculation of the size of the South Korea Printed Electronics and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- South Korea Printed Electronics Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of South Korea Printed Electronics vendors
FAQ’s
Q.1 What are the main factors influencing the South Korea Printed Electronics?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top South Korea Printed Electronics companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the South Korea Printed Electronics’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
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