Conductive Inks Market Outlook:
Conductive Inks Market size was over USD 3.16 billion in 2025 and is poised to exceed USD 5 billion by 2035, growing at over 4.7% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of conductive inks is estimated at USD 3.29 billion.
Silver, carbon, and graphene constitute the key raw materials in the conductive ink supply chain. U.S. mines generated roughly 88,100 kilograms of silver in October 2024 and the average daily volume was 2,840 kg in October and slightly higher than the average daily capacity of 2,790 kg in 2023. The worldwide production in 2024 surpassed 1.1 billion ounces and the industrial offtake is the primary catalyst for white metal demand to record the annual high by the end of 2025.
As per a United States Geological Survey (USGS), silver imports in the form of bullion, dore, and ores and concentrates in October 2024 glossed 318,000 kg, 13% less than the September 2024 volume of 365,000 kg. There was a 34% slump in imports and a 5% decrease in bullion between September and October. Silver bullion imports decreased from Peru (4,700 kg), Kazakhstan (6,740 kg), the Republic of Korea (17,500 kg), and Canada (16,200 kg). The offset was due to a spike in silver bullion imports from Mexico (17,300 kg), Bulgaria (1,140 kg), and Chile (19,400 kg). Dore imports from Sweden (18,000 kg), South Africa (8,570 kg), and Mexico (16,700 kg) had a setback and was attributed to an increase in imports of dore from Colombia (1,160 kg) and Canada (14,600 kg).
The average silver price in October 2024 was USD 32.60 per troy ounce, an 8% growth, underscoring an 8% increase from USD 30.23 per troy ounce in the preceding month. The October price was a noteworthy 45% higher than the October 2023 USD 22.44 per troy ounce average daily price and 66% up from the October 2022 average daily price of USD 19.62 per troy ounce. The October 2024 daily price ranged between the year-to-date high of USD 34.60 per troy ounce and a record low of USD 0.50 per troy ounce. Graphite held a total trade value of USD 800 million in 2022, marking a 20.9% growth rate from USD 662 million in 2021. The top exporters comprised China USD 411 million, capturing 51.3% of the export share, Mozambique (USD 83.9 million), Madagascar (USD 78.5 million), Germany (USD 35.4 million), and Brazil (USD 30.4 million). According to OEC, the overall ink trade was USD 12.1 billion in 2022, with Germany (USD 2.2 billion) emerging as the top exporter, amounting to 18.1% of the global ink export share.
Coal or carbon-based pigments have also showcased significant market opportunities in terms of conductivity. Minus 100, LLC received a U.S. DOE grant DE-SC000118694 in April 2021 to research the scope of coal-based conductive inks. The value proposition of Minus 100, LLC suggested that U.S. coal utilization through technological advancements has increased the country’s coal supply as a primary feedstock for value-added products. The research led to the development of a novel method for enhancing electrical conductivity of bituminous coal-based feedstocks via microwave processing. The 3.2 kW MW was introduced, minimized process time, and increased product yield.
