Depending on the viewpoint, functional printing has a wide variety of explanations. For example, a traffic sign serves a purpose by warning pedestrians to look before crossing a road. But the printing industry has made such advances that it is putting put printed substances which can perform a particular function rather than just serving a purpose.
Whether it is printed electronics or the 3D printing market, the Functional Printing Market is essentially creating a new role for itself by providing functions. These technological advances have attracted major interest from industrial printing players. Industry experts believe that printing products and industrial printing will soon evolve into two sides of the same coin. Hence, the Functional Printing Market has a tremendous scope for growth during the forecast period of 2015-2020.
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Scope & Regional Forecast of the Functional Printing Market
With rapid developments in 3D printing materials and substrates, the Functional Printing Market is expected to raise its valuation from $8.2 Billion in 2015 to $25.4 Billion by 2020, which equates to a CAGR of a whopping 25.3%. Another major growth driver for the digital printing machine is the need for low cost electronic products. The advances in small business printers and other printed materials have allowed manufacturers to produced printed electronics at a low cost and high speed.
Some other vital factors driving the growth of the Functional Printing Market are: rising demand for more efficient energy consumption driven by climate change; and reducing wastage of printed materials so as to decrease the burden on the environment. Once manufacturers begin modifying the techniques of industrial printing, several new functional printing applications are expected to arise.
Currently, the Functional Printing Market is dominated by demand originating from North America, followed by Asia-Pacific. This market dominance is due to the early adoption of this technology by manufacturers in their efforts to produce low-cost electronic parts and components. Several radical designs as well as superior material utilization are some of the by-products of this adoption.
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Segmentations & Key Players Involved in the Functional Printing Market
The Functional Printing Market can be broken down into various segments as follows:
Materials: Substrates, Conductors, Dielectric/Insulators and Functional Coatings.
Printed Technology: Inkjet printing, Screen printing, Gravure printing and Others.
Integrated Smart Systems: Smart Tags, Smart Cards, Diagnostic Labels, Functional Packaging, Signage, Smart Textiles and Ceramic Tiles.
Components: Electronic Components (Memory/Logic, Membrane Switches, Touchscreens), Sensors (Image Sensors, Photodiodes, Bio-Sensors, Others), Displays (Organic Light Emitting Diode (OLED) Display, E-Paper, Electroluminescence (EL) Display), Organic Light Emitting Diode (OLED) Lighting and Photovoltaic.
Geographical Location: Americas, Europe, Asia-Pacific and RoW (Rest of the World).
Some of the key players involved in the Functional Printing Market are as follows:
- Norbert Schlafli Machinery Company
- Sigma-Aldrich Corporation
- THINFILM Electronics ASA
- Eastman Kodak Company Ltd.
- Cambridge Display Technology
- Xennia Technology Ltd.
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