The rising demand for Miniaturized Electronic Products is expected to spur the Flexible Printed Circuit Boards Market.
The global flexible printed circuit boards market was valued at US$ 16.56 Bn in 2018 and is expected to reach US$ 41.04 Bn by 2027, expanding at a CAGR of 10.6% during the forecast from 2019 to 2027. The shift in consumer preference for miniaturized and pocket equipment has significantly flourished the demand for Flexible Printed Circuit Boards (FPCBs). The technology offers about 70% of the total cost reduction in electrical interconnection and reduces nearly 75% of the wiring and cable applications. In addition, its multiple advantages, such as high thermal stress capability, high electrical conductivity, flexibility, and high durability, make it vulnerable to various applications. As a result, it has proliferating demand in automotive, consumer electronics, aerospace & defense, and several other sectors.
Market Synopsis
Healthcare Segment is predicted to witness the highest CAGR during the Forecast Period.
The healthcare sector is poised to register the highest growth during the forecast period. The penetration of the Internet of Things (IoT) and increasing demand for miniaturized electronics in the medical sector are key factors responsible for the rapid growth of the segment. However, consumer electronics dominated the global flexible printed circuit boards market with the highest revenue share in 2018. Asia is the largest contributor to the significant growth of the consumer electronics segment. Besides this, the automotive sector seeks remarkable growth in adopting flexible PCBs for emerging electronic control systems and interior lighting circuits.
The Asia Pacific is projected to have the Highest Growth during the Forecast Period.
In 2018, Asia Pacific held the majority of the global flexible printed circuit boards market's revenue share of around 35%. The region is also poised to grow at the fastest CAGR during the forecast period. Smartphones, automobiles, and upcoming smart technologies have acquired the Asian market completely. In addition, the largest consumer base for such breakthrough technologies and low labor costs have made the region most opportunistic. Thus, several players have expanded their regional bases in the Asia Pacific. For instance, in June 2019, Holitech Technology Co. Ltd., a Chinese component supplier of Xiaomi, extended its production capacity in India. The new plant will manufacture various electronic products, including flexible PCBs.
On the other hand, North America and Europe are also major contributors to the global flexible PCB market. The United States was the second-largest Flexible PCB manufacturing hub after Japan. In addition, prolonged growth in automotive, healthcare, and other various sectors in the U.S. and Europe has significantly driven the growth of flexible circuits in the regions.
Key Players & Competitive Landscape:
The global flexible PCBs players are grappling with each other to retain their market position. The ever-changing trend in electronics, automotive, and other consumer-oriented sectors is driving innovation and development in the existing product range. In addition, players also believe in expanding their regional base to grow their production capacity.
Some of the prominent players listed in the global flexible PCBs market report include NOK Corporation (Nippon Mektron Ltd.), Flexcom Inc., Fujikura Ltd., Sumitomo Electric Industries Ltd. (SEI), Zhen Ding Technology Holding Limited (ZDT), Multi-Fineline Electronix Inc., 3M Company, FLEXium Interconnect Inc., Career Technology, Interflex Co. Ltd., and ICHIA Technologies Inc. among others.
Historical & Forecast Period
This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The flexible printed circuit boards market research offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides an all-around view of the global flexible printed circuit board market based on type, industry verticals, and geography.
Frequently Asked Questions
The market for Flexible Printed Circuit Boards is expected to reach US$ 41.04 Bn by 2027.
The Flexible Printed Circuit Boards market is expected to see significant CAGR growth over the coming years, at 10.6%.
The report is forecasted from 2019-2027.
The base year of this report is 2021.
NOK Corporation (Nippon Mektron Ltd.), Flexcom Inc., Fujikura Ltd., Sumitomo Electric Industries Ltd. (SEI), Zhen Ding Technology Holding Limited (ZDT), Multi-Fineline Electronix Inc., 3M Company, FLEXium Interconnect Inc. are some of the major players in the global market.
