The sustainable electronics manufacturing market is poised for remarkable growth, with a projected compound annual growth rate (CAGR) of 25% between 2023 and 2030. By the end of the decade, the market is expected to reach a valuation of US$150 billion, driven by increased demand for electronic products, integrated circuits, and a growing emphasis on sustainability.
Market Overview:
The electronics manufacturing sector is undergoing a significant transformation to meet rising sustainability demands and combat the adverse effects of fluctuating energy costs. Currently responsible for 4% of global greenhouse gas emissions, the electronics industry is actively pursuing innovation to reduce its environmental footprint. Breakthrough technologies, such as artificial intelligence and the Internet of Things, are being harnessed to enable sustainable manufacturing. Sensor technology is being utilized to detect inefficiencies and material wastage, while intelligent digital manufacturing techniques automate operations, effectively reducing waste and costs.
Key developments in the industry include the expansion of Sanmina Corporations plant in Thailand, focusing on cutting-edge custom packaging and assembly for optical, high-speed, and radio frequency microelectronic components and products. This expansion aligns with the rapid growth of markets like networking, 5G, data centers, automotive/LIDAR, aerospace, and defense technology.
Key Findings:
- The sustainable electronics manufacturing market is expected to witness significant revenue growth between 2023 and 2030.
- Increasing demand for electronic products and integrated circuits is a primary driver for sustainable electronics production.
- Substrate choice, with a focus on flexible substrates, holds a substantial share in the industry.
- The automotive industry is projected to experience the fastest growth in demand generation.
- Asia Pacific continues to lead the global sustainable electronics manufacturing industry, while North America is poised for robust growth.
Driving Factors:
Growing Environmental Concerns: The rise in environmental awareness and concerns regarding electronic waste have fueled demand for sustainable and eco-friendly electronic devices. Governments worldwide are implementing regulations to reduce the environmental impact of the electronics sector.
Promotion of Sustainable Electronics Production: Government regulations and green investment initiatives are encouraging sustainability in the semiconductor and electronics industries. Businesses that prioritize environmental practices stand to benefit from both consumer preferences and authorized ESG investments.
Challenges:
Expensive Initial Implementation: While sustainable manufacturing offers various benefits, the initial costs can be a barrier for many organizations. Investments in new machinery, infrastructure, and employee training may be required, making the adoption of sustainable practices costly.
Regional Outlook:
Asia Pacific Spearheads: Asia Pacific leads the sustainable electronics manufacturing market due to its rapidly growing economies and the presence of major electronic manufacturers. The regions emphasis on sustainability, driven by government policies in countries like China, contributes to its dominance.
North America Develops a Lucrative Market: North America is expected to experience significant growth, driven by urbanization, population growth, and increasing consumer electronics consumption. The regions strong financial position supports research and development efforts.
Competitive Landscape:
Key players in the sustainable electronics manufacturing market include Samsung, Apple Inc., Intel, Nokia, Alpha, DP Patterning, Elephantech Inc., TSMC, VTT, and Sony Electronics.
The sustainable electronics manufacturing industry is at the forefront of addressing environmental concerns while meeting the growing demand for electronic products. As innovation continues to drive this sector, businesses that prioritize sustainability are well-positioned to thrive in a rapidly evolving market.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/sustainable-electronics-manufacturing-market
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COMTEX_440910088/2840/2023-09-25T13:12:28
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