Silver demand for printed and flexible electronics will grow 54% by 2030 – from 48 million ounces in 2021 to 74 million (2,302 tonnes), with 615 million ounces consumed over the decade as this market continues to grow and expand. say experts of the consulting company Precious Metals Commodity Management.
Printed and flexible electronics are vital and essential to the advancement of electronic technology, including sensors for temperature, pressure, motion, lighting, humidity, radar, heart rate, and carbon monoxide. Other applications include their use in devices connected to the Internet, medical and wearable electronics, displays for household appliances, mobile phones, computers and tablets, automotive and consumer electronics.
Since many of these electronic devices can be fabricated and processed on rolls or large area substrates, these technologies are becoming increasingly popular with various manufacturers.
For example, printed and flexible electronics are increasingly being used in labels and packaging for retail goods, as well as in warehouse logistics operations. They are vital for smart homes, where fully integrated systems are used that share critical information using internet-connected sensors to control HVAC (heating, ventilation and air conditioning), lighting, security, energy, access and security monitoring, and more. applications.
According to Precious Metals Commodity Management, the printed and flexible electronics market will pick up 48 million ounces of silver this year. Today this segment is about $ 57 billion, and the CAGR over the next 5 years is expected to be 11%, and by 2025 the market is expected to generate $ 96 billion in revenue from the consumption of 60 million ounces of silver.
According to the analysis, 32.5% of the global silver supply goes to electronics. The contribution to this segment of consumption from minor platinum group metals – ruthenium and iridium – is 48.7% and 50.2%, respectively. Gold – 5.7%, platinum – 2%, and palladium – 1.9%. Rhodium and osmium make very little contributions to electronics.
Silver is the most electrically conductive metal in the world and is a key component in virtually all electronic and electrical modern products from home appliances to spacecraft. And as the world moves towards greater connectivity, silver will continue to play a vital role in the development and expansion of flexible and printed electronics technologies. And with the gradual transition to 5G wireless, most analysts understand that the number of connected devices, mainly consisting of computers, tablets and smartphones, will skyrocket.
Ericsson estimates that there will be 1.7 billion Internet-connected devices in 2020, a figure that will grow very quickly to more than 4 billion devices by 2024. This is a staggering growth rate that will boost demand for precious metals.
Bulletin of the Gold Producer