The global flexible printed circuit board market is majorly driven by growing demand for compact & flexible devices coupled with increasing popularity for wearable devices. Furthermore, technological advancements and expanding performance requirements by end-users are also expected to fuel the market.
Global Flexible Printed Circuit Board (FPCB) Market Report, published by Variant Market Research, forecast that the global market was valued at $15 billion in 2016 and expected to reach $33 billion by 2024, growing at a CAGR of 10.6% from 2016 to 2024. In geographical segments, Asia Pacific and RoW are expected to grow at a CAGR of 11.5% and 10.2%, respectively, over the forecast period 2016 - 2024.
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The global flexible printed circuit board market is majorly driven by increasing demand for compact size & flexible devices coupled with popularity for wearable devices, growing adoption of IoT devices, demand for board in productions of LED display, smartphones, and other mobile devices. However, lack of skills person to operate and high initial price may hinder the growth of the market.
The global flexible printed circuit board market has been segregated into type, application, and geography. The type segment contains multi-layer flex circuits, double sided flex circuits, single sided flex circuits, rigid flex circuits and others.
Application segment consists consumer electronics, instrumentations & medical, defence & aerospace, industrial electronics, computers & data storage, telecommunications, automotive, and others. Among type segments, multi-layered flex circuits held the major share in 2016, though rigid flex circuit is expected to attain fastest CAGR during the forecast period 2016-2024.
By application segment, consumer electronics and instrumentations & medical accounted for the highest market share in 2016.
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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. Asia Pacific accounted for the largest market share in 2016 and it is anticipated grow at fastest CAGR during the forecast period 2016-2024, due to industrialization, the increasing penetration of smart devices, high adoption of sensors and presence of several semi-conductor manufacturers.
North America held for the second largest market share in 2016, owing to emerging trends of disposable electronics and polymer solar cells.
Market players have used various strategies such as partnerships & agreements, mergers & acquisition, and product launch to surge their market share. The major key players operating in the market are Nippon Mektron, Ltd., 3M Company, Sumitomo Electric Industries, Ltd., Interflex Co., Ltd., LG Innotek, Nitto Denko Corp., Flexible Circuit Technologies, Inc., MFS Technology Ltd, Fujikura Ltd., and Zhen Ding Technology Holding Limited, among others.
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Scope of Flexible Printed Circuit Board Market
- Single Sided Flex Circuits
- Double Sided Flex Circuits
- Multi-Layer Flex Circuits
- Rigid Flex Circuits
- Instrumentations & Medical
- Computers & Data Storage
- Consumer Electronics
- Defense & Aerospace
- Industrial Electronics
- North America
- South Korea
- South America
- Middle East
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