The Global Water-based Conductive Ink Market was valued at USD 1.48 Billion in 2025 and is projected to reach USD 2.35 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period (2024–2034). This robust growth is primarily driven by the escalating demand for flexible and printed electronics, the global push for environmentally sustainable manufacturing, and the expanding applications across consumer electronics, automotive, and medical device sectors.

As the electronics industry pivots towards greener, more versatile manufacturing processes, water-based conductive inks have emerged as a critical enabler. Unlike solvent-based alternatives, these inks offer superior environmental credentials, enhanced safety, and compatibility with a wide range of substrates. In this blog, we profile the Top 10 Companies in the Water-based Conductive Ink Industry—a group of chemical giants, specialized material scientists, and innovation leaders shaping the future of printed functionality.

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🔟 1. Henkel AG & Co. KGaA

Headquarters: Düsseldorf, Germany
Key Offering: LOCTITE® ECI 1010 E&C Series, Innovative Water-based Silver Inks

Henkel is a global leader in adhesive technologies and functional materials, with a significant and growing portfolio of water-based conductive inks. Its LOCTITE® brand is renowned for reliability in electronics assembly, and its conductive inks are formulated for high performance in printed antennas, sensors, and flexible circuits.

Innovation and Sustainability Initiatives:

• Development of low-temperature cure inks for heat-sensitive substrates like PET and paper.
• Strong focus on reducing volatile organic compound (VOC) emissions in manufacturing.
• Active R&D in nano-silver and hybrid material systems for improved conductivity and flexibility.

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9️⃣ 2. DuPont de Nemours, Inc. (Dow)

Headquarters: Wilmington, Delaware, USA
Key Offering: DuPont™ PE Series, Interconnect Inks for Printed Electronics

DuPont, a titan in advanced materials, offers a comprehensive range of conductive inks, including high-performance water-based formulations. Leveraging decades of material science expertise, DuPont’s inks are critical for applications in photovoltaic cells, membrane switches, and advanced display technologies.

Innovation and Sustainability Initiatives:

• Investment in bio-derived and recyclable material components for inks.
• Partnerships with OEMs to co-develop custom ink solutions for next-generation wearables and IoT devices.
• Commitment to sustainable product innovation as part of its 2030 Sustainability Goals.

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8️⃣ 3. Heraeus Holding GmbH

Headquarters: Hanau, Germany
Key Offering: SOL5600 Series, Precious Metal-based Conductive Inks

Heraeus is a leading technology group with a heritage in precious metals, which forms the basis of its high-conductivity inks. The company’s water-based offerings are engineered for superior performance in demanding applications such as medical biosensors, automotive electronics, and high-frequency RFID tags.

Innovation and Sustainability Initiatives:

• Pioneering the use of ultra-fine silver and copper flakes to achieve higher conductivity with less material.
• Development of inks with excellent adhesion to challenging substrates like polyimide and glass.
• Implementation of closed-loop recycling systems for precious metals in its production processes.

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7️⃣ 4. Sun Chemical Corporation

Headquarters: Parsippany, New Jersey, USA
Key Offering: Solaris™, Flexible and Stretchable Conductive Inks

As one of the world’s largest producers of printing inks and pigments, Sun Chemical brings immense scale and application knowledge to the conductive ink market. Its water-based Solaris™ inks are designed for the rapidly growing flexible and printed electronics sector, particularly in smart packaging and wearable technology.

Innovation and Sustainability Initiatives:

• Extensive R&D in formulations that maintain conductivity under mechanical stress and deformation.
• Leading the integration of conductive printing into high-speed graphic arts processes.
• Commitment to developing sustainable solutions as part of its Sustainable Solutions Initiative.

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6️⃣ 5. Johnson Matthey

Headquarters: London, United Kingdom
Key Offering: JM Conductive Inks, Specialty Catalytic Inks

Johnson Matthey is a global leader in sustainable technologies, with a strong presence in specialty chemicals and advanced materials. Its conductive inks portfolio is noted for high reliability and is widely used in the manufacturing of printed circuit boards (PCBs), electrochemical sensors, and fuel cell components.

Innovation and Sustainability Initiatives:

• Expertise in catalytic inks for energy conversion and storage applications.
• Focus on developing materials for the hydrogen economy, including proton exchange membrane (PEM) components.
• Strong emphasis on lifecycle assessment and reducing the environmental footprint of its products.

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5️⃣ 6. Agfa-Gevaert Group

Headquarters: Mortsel, Belgium
Key Offering: Orgacon™, Inkjet and Screen Printing Inks

Agfa, a leader in imaging technology and materials, has successfully leveraged its expertise into the printed electronics space. Its Orgacon™ line includes water-based conductive polymer inks (like PEDOT:PSS) and metal-based inks that are compatible with a variety of printing techniques, from inkjet to screen and flexography.

Innovation and Sustainability Initiatives:

• Leadership in transparent conductive inks for touch screens and displays, offering an alternative to indium tin oxide (ITO).
• Development of inks for large-area electronics and OLED lighting.
• Focus on creating solutions that enable roll-to-roll mass production for cost efficiency.

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4️⃣ 7. Creative Materials Inc. (Acheson Electronic Materials)

Headquarters: Ayer, Massachusetts, USA
Key Offering: Acheson Proxichem Series, Specialty Dielectric and Conductive Inks

Creative Materials, notably through its Acheson brand, is a key supplier of specialty conductive compounds. The company offers a wide array of water-based formulations tailored for specific applications, including membrane switches, medical electrodes, and EMI/RFI shielding.

Innovation and Sustainability Initiatives:

• Strong custom formulation capabilities to meet unique customer performance requirements.
• Expertise in developing stable, single-part ink systems that simplify manufacturing.
• Continuous improvement of product safety profiles and reduction of hazardous components.

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3️⃣ 8. NovaCentrix

Headquarters: Austin, Texas, USA
Key Offering: Metalon® Inks, PulseForge® Sintering Tools

NovaCentrix stands out for its integrated approach, offering not just conductive inks but also the photonic sintering equipment needed to cure them. Its Metalon® water-based inks, often based on copper, are designed to be sintered at high speeds using light, enabling production on low-cost, heat-sensitive materials like paper and plastic.

Innovation and Sustainability Initiatives:

• Pioneering the use of cost-effective copper inks as an alternative to silver.
• Development of photonic curing technology that reduces energy consumption compared to thermal ovens.
• Enabling the production of ultra-low-cost electronics for disposable medical and smart packaging applications.

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2️⃣ 9. Dycotec Materials

Headquarters: Swindon, United Kingdom
Key Offering: High-Performance Silver and Carbon Inks

Dycotec Materials is a specialist manufacturer focused on advanced functional materials for printed electronics. The company provides a range of water-based conductive inks known for their high conductivity, fine-line printability, and compatibility with various printing processes, serving the automotive, aerospace, and consumer electronics industries.

Innovation and Sustainability Initiatives:

• R&D concentrated on achieving superior conductivity at lower curing temperatures.
• Development of stretchable and wearable electronic inks that remain functional under repeated flexing.
• Commitment to sustainable manufacturing practices and water-based, low-VOC product lines.

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1️⃣ 10. C3Nano, Inc.

Headquarters: Hayward, California, USA
Key Offering: ActiveGrid™, Transparent Conductive Inks and Films

C3Nano is a technology innovator focused on transparent conductive inks and films, primarily based on its proprietary silver nanowire and hybrid material technology. Its water-based ActiveGrid™ inks are designed to replace brittle ITO in flexible displays, touch screens, and OLED lighting, offering superior flexibility and optical clarity.

Innovation and Sustainability Initiatives:

• Breakthrough technology in silver nanowire synthesis and formulation for high performance and stability.
• Strategic partnerships with major display and touch panel manufacturers in Asia.
• Focus on enabling the next wave of foldable and rollable electronic devices.

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📈 Outlook: The Future is Printed, Flexible, and Sustainable

The water-based conductive ink market is at the forefront of a technological revolution in electronics manufacturing. The shift from traditional, rigid circuit boards to flexible, printed functionalities is accelerating, driven by the need for lighter, more adaptable, and environmentally conscious electronic products.

🌱 Key Trends Shaping the Market:

• Explosion of IoT and Smart Devices: Billions of connected devices require low-cost, mass-producible electronic components, which printed electronics using water-based inks can provide.
• Advancements in Material Science: Ongoing R&D is yielding inks with higher conductivity, better stability, and compatibility with biodegradable substrates.
• Stringent Environmental Regulations: Global regulations restricting VOC emissions are pushing manufacturers to adopt water-based alternatives over solvent-based systems.
• Adoption in New Sectors: Applications are expanding into smart textiles, structural health monitoring, and large-area energy harvesting systems.

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Water-based Conductive Ink Market – View in Detailed Research Report

The companies profiled above are not just supplying materials; they are actively enabling a new era of electronics—one that is more integrated, sustainable, and innovative than ever before.