Printed electronics market to decline 20% in 2020

October 28, 2020 //By Peter Clarke
Printed electronics market to decline 20% in 2020
The Covid-19 pandemic while cause a 20 percent annual decline in the market for organic and printed electronic circuits, according to a survey conducted by the Organic and Printed Electronics Association (OE-A).

The business climate survey is sees a modest rebound in 2021 with 7 percent annual growth. That growth is similar to what was expected for 2020 back in February – 8 percent – before the global pandemic hit.

The survey has found order cancellations followed by reduced orders has become normal due to the corona pandemic.

"Although the order situation has recovered significantly after a strong decline in the 2nd and 3rd quarters, companies will not be able to fully compensate for the sales losses already suffered this year," said Klaus Hecker, managing director of OE-A, in a statement.

The 7 percent annual growth expected for 2021 is expected across the supply chain and two-thirds of companies plan to increase investment in production within the next six months.

Despite the sharp drop in revenue employment is stable at 90 percent of companies and 9 percent of firms are planning to increasing their workforce.

The most significant sectors for the consumption of organic and printed electronics are: consumer electronics, automotive and, increasingly, the medical and pharmaceutical sectors.

Expected organic and printed electronics company sales revenue annual growth for 2020 and 2021. Source: OE-A.

"For 2021 the outlook of the industry is optimistic. Numerous product launches are planned and the interest of important user industries remains. However, the companies expect it will take one to two years to fully compensate for the losses," said Hecker.

However, the pandemic did boost the development of, and demand for, components for specific applications such as patches for monitoring temperature or respiration in the medical sector, and sensor mats for distance control in the retail sector. "Every crisis is also an opportunity. The companies have accepted this challenge in a very dynamic and flexible way," said Hecker.

Related links and articles:

www.oe-a.org

News articles:

PragmatIC receives orders for 20 million printed ICs

Soft pressure sensor is promising for health monitoring

Analog, MEMS and sensor startups to follow in 2020


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