Market Synopsis
The global flexible printed circuit board market is expected to exhibit a strong 12.6% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global flexible printed circuit board market is expected to reach a valuation of USD 27.9 billion by 2023, according to the report. The report presents a detailed evaluation of the global flexible printed circuit board market’s historical growth trajectory and present condition, providing studied forecasts based on the market’s historical growth trajectory.
Leading players operating in the global Flexible Printed Circuit Board Market Manufacturers are also profiled in the report in order to provide readers with a complete overview of the market’s competitive landscape. Major drivers and restraints operating on the global flexible printed circuit board market are also examined in the report in order to evaluate their comparative impact on the global market. The impact of the COVID-19 pandemic on the global flexible printed circuit board market is also examined in detail in the report.
Flexible printed circuit boards are being widely used in flexible display devices in order to provide functionality in flexible displays. The growing demand for flexible display devices is likely to remain a major driver for the global flexible printed circuit board market over the forecast period. The growing consumer electronics industry has led to a growing demand for flexible displays as a result of extensive product innovation in the industry. Growing consumer demand for flexible devices is likely to remain a major driver for the flexible printed circuit board market over the forecast period. Flexible devices have become widely popular as a highly valued gimmick. In spite of flexible displays not providing any functional advantage over conventional displays, many consumers prefer flexible displays over conventional displays. The consumer electronics industry has been quick to make good on the promise in the flexible displays sector, developing several types of flexible devices in order to cater to the growing demand for the same.
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The growing consumer electronics industry is likely to remain a major driver for the global flexible printed circuit board market over the forecast period and beyond. Consumer electronics have grown in demand over the last few years due to the growing disposable income of urban consumers and the growing demand for high-value consumer electronics that can impart a certain class upon the consumers. Flexible display devices, being at the cutting edge of technology, are becoming highly popular among consumer electronics consumers. This is likely to drive the demand from the flexible printed circuit board market over the forecast period.
Market Segmentation:
The global flexible printed circuit board market is segmented on the basis of type, application, and region.
- By Type, the global flexible printed circuit board market is segmented into multilayer flex, rigid flex, double-sided flex, and single-sided flex. The multilayer flex segment holds a dominant share of more than 33% of the global flexible printed circuit board market and is likely to remain the dominant segment over the forecast period. The segment was valued at more than USD 5.2 billion in 2017.
- By Application, the global flexible printed circuit board market is segmented into consumer electronics, manufacturing, aerospace and defense, medical devices, automotive, wearables, and others. The consumer electronics segment holds a valuation of more than USD 5.3 billion as of 2017 and is likely to remain the leading revenue generator in the global flexible printed circuit board market over the forecast period.
Regional Analysis:
The global market for flexible printed circuit board market is projected to expand generously during the assessment period. The regional analysis of North America, Asia-Pacific, Europe, and the Rest of the World (RoW) has been performed. According to MRFR, the APAC region is likely to be the most lucrative and largest market during the assessment period. The region acquires more than 50% of the market share. Countries such as Taiwan, China, and South Korea are projected to make the most substantial contribution in flourishing the regional market. APAC is also chosen as one of the most ideals region to invest. Besides, China is one of the largest electronic manufacturing hubs in the world.
Further, there are several macro and microeconomic factors that are driving the regional market. As per the research, the second position is attained by North America. The region is predicted to expand at the highest CAGR during the review period. The market is estimated to hold a substantial value of USD 3,300 million. The region is estimated to flourish due to the presence of various established players. Europe and RoW are projected to grow significantly during the forecast period.
However, the market graph is estimated to change due to the outbreak of COVID-19. Various regions have been under the observation of lockdown.
Key Players:
Leading players in the global flexible printed circuit board market include Zhen Ding Tech, Daeduck GDS Co. Ltd., MFS Technology, Nitto Denko Corporation, Fujikura Ltd., Interflex Co. Ltd., Flexible Circuit, Sumitomo Electric Industries Ltd., bhflex Co. Ltd., and Career Technologies.
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