The global non-conductive ink market is estimated to increase from USD 403 million in 2019 to USD 560 million by 2024, at a CAGR of 7.0% during the forecast period. The global non-conductive ink is driven mainly by the increasing application in electronics, among others.
The growth in PCBs production propels the growth of the global non-conductive inks market. Printed circuit boards (PCBs) are a key element of modern devices ranging from computers, smartphones, microwaves, television remotes. In other words, electronic products and devices do not function without a PCB. Hence, the demand for non-conductive inks is dependent mainly on the growing PCB production.
Emerging economies such as China, India, Taiwan, and South Korea are experiencing high demand for non-conductive inks. Increasing per capita expenditure on electronics devices and products, huge consumer base, rising urban population, low labour costs, and easy availability of raw materials are attracting international electronics components, devices, and products manufacturers to shift their production facilities to the region, thus, creating a high demand for non-conductive inks in these industries.
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DowDuPont (US), Henkel AG & Co. KGaA (Germany), Teikoku Printing Inks Mfg. Co., Ltd (Japan), Applied Cavitation Incorporated (US), Poly-Ink (France), Sun Chemical Corporation (US), NovaCentrix (US), Creative Materials Inc. (US), Applied Ink Solutions (US), and Vorbeck Materials (US), among others are the leading non-conductive ink manufacturers, globally. These companies adopted new product development, collaboration, and expansion as their major business strategies between January 2015 and August 2018 to earn a competitive advantage in the non-conductive ink market.
DowDuPont (US) is one of the leading players in the non-conductive inks market. The company has been focusing on both organic and inorganic strategies to maintain its leading position in the market. For example, in March 2019, the company invested around USD 220 million to build new production assets at its Circleville, Ohio, plant. In December 2018, the company launched its second generation in-mold electronic materials with key advancements. This technology enables functions such as touch controls and lighting to be directly embedded inside of plastic parts by printing circuits onto plastic sheets.
Henkel AG & Co. KGaA (Germany) is another major player in the conductive inks market. In February 2018, the company invented a new material for medical and automotive printed electronics applications. Novel printed inks and coatings for health monitoring, in-cabin automotive design, self-regulating heating technology, and ink-compatible solder materials are some of the recent products launched by the company.
Non-Conductive Ink Market by Substrate (Glass, Ceramic, Acrylic), Application (PCB Panels, PV Panels, Led Packaging), and Region (North America, Europe, APAC, Middle East & Africa, South America) - Global Forecast to 2024
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