CHICAGO, June 26, 2019 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets, the Non-Conductive Ink Market is projected to grow from USD 430 million in 2019 to USD 560 million by 2024, at a CAGR of 7.0 % during the forecast period. The growth of the market can be attributed to the increasing consumption of non-conductive ink in various application such as PCB panels, PV panels, among others.
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The glass segment is projected to be the fastest-growing segment during the forecast period.
The growth of the segment is attributed mainly to an increased usage of the glass substrate in the electronics industry where these substrates are preferred commonly in displays and photovoltaics. The growing electronic & electrical industry is further expected to drive the demand for non-conductive inks in this segment.
The PCB application is projected to register the highest CAGR during the forecast period.
Based on application, the PCB panels segment is projected to grow at the highest CAGR, in terms of value, during the forecast period. The increase in production of PCB panels and its growing usage in the electronic application is expected to drive the demand for non-conductive inks during the forecast period.
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APAC non-conductive ink market is projected to account for the largest market share during the forecast period.
APAC is estimated to be the leading non-conductive inks market during the forecast period. The growth in the APAC region can be attributed to the growing demand for non-conductive inks from various applications such as PCB panels, PV panels, and others. The presence of a robust industrial base, favorable government policies, and low labor cost are further strengthening the non-conductive inks market and attracting major players to invest in APAC. The region's strong industrial base, favorable government policies, and low labor cost are further strengthening the non-conductive ink market.
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), are the key players operating in the Non-Conductive Ink Market.
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