Functional Printing Market: By Printing Technology (Inkjet Printing, Screen Printing, Gravure Printing, and Flexography), By Material Type (Substrate and Inks), By Application (Display, Sensors, Batteries, RFID tags, Lightening, and Photovoltaic), and Geography

Functional Printing Market was valued at USD 14,568.9 million in 2023 and is poised to grow at a 22.3% CAGR from 2024 to 2030. Functional printing is a two-dimensional and three-dimensional printing that results in a material having active and passive functionality, it necessitates the printing of various electrical components through substrates and inks, it is used to print various substrates such as paper, and glass dielectric inks. It is used for the mass production of LCDs, OLEDs, RFIDs, and photovoltaics. Functional printing is segmented based on technology including inkjet printing, screen printing, gravure printing, and flexes, the demand for low-cost, dependable, and smart electronic devices such as RFIDs and sensors is driving the growth of the market.

The growing application of 3d modeling has raised the functional printing demand in the market it is estimated to become a profitable opportunity for the market also growing applications such as sensor display, and lighting are raising high demand in the future. Modernization and production of complex structures create hindrances in the market, this factor is projected to be a challenge for the functional printing market. Geographically, North America held the major market share in 2022 and shows lucrative demand in the market, owing to the presence of the most functional printing and equipment in the region. 

Functional Printing Market Key Developments:

• In March 2022, Avery Dennison Graphics Solutions launched a new generation of digital print films. The new Avery Dennison MPI 2904 Easy Apply™ is a smooth glossy, flexible vinyl film designed for vivid and high-quality digital print performance. It delivers great value for vibrant and creative applications with intermediate durability requirements, Complementing the MPI 2904 Easy Apply are the new Avery Dennison DOL 2960 Gloss and DOL 2980 Matte overlaminates that give users both improved handling efficiency and superior finished graphics.
• In February 2022, Canon announced the expansion of its MAXIFY Ink Efficient GX Series lineup with a new ink tank business printer. The printer combines low color printing costs with speed, paper handling, and networking capabilities to give offices and businesses a boost in efficiency and productivity.
• In January 2022, Eastman Kodak Company announced the launch of a new ink system for Film-to-Fabric (DTF). Film-to-fabric ink systems can be used with the most modified inkjet printers and involve three simple components: powder, film, and ink. The benefits of DTF, like the KODACOLOR FTF (Film-to-Fabric) System, include the ability to print on a wide variety of fabrics (e.g., natural fabrics, polyester, nylon, rayon, blends, and cotton)