According to Goldstein Research, “Rising penetration of advanced consumer electronic goods and emergence of IoT technology has significantly driven the growth of flexible PCB market.” In past few years there have been significant advancements in the design and fabrication of flexible PCB that have enabled lighter, compact and faster interconnect solutions. Emergence of new technologies such as IoT, Artificial Intelligence and robotics will further boost the growth of flexible PCB market all across the globe.
The global flexible PCB market is segmented based on products and by applications. Product segment is further bifurcated into single sided flex circuits, double access flex circuits, double sided flex circuits, multi-layer flex circuits and rigid flex circuits. Multi layer flex circuits accounted for the major share in flexible PCB market with more than 35% market share owing to wide applications in consumer electronics and complex devices in healthcare sector.
Global flexible PCB market is majorly driven by the complexity of advanced technology and vast usage in almost every electronic device and sensors. Global flexible PCB market valued for USD 12.4 billion in 2016 and the market is expected to expand at a CAGR of 12.4% over the forecast period i.e. 2016-2024.
Asia-Pacific is the largest region for flexible PCB market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific flexible PCB market valued USD 5.2 billion in 2016 and is estimated to reach USD 7.4 billion by 2024. China is expected to dominate the flexible PCB owing to huge electrical and electronics industry in China. Malaysia is also contributing to the growth of flexible PCB market in Asia Pacific. For instance, Malaysia is home to 16 solar panels manufacturing plants, with a production of 2.6GW of cells and 5GW of modules per year.
Healthcare Sector Providing huge growth opportunities
As ageing population is rising in developed countries, demand for healthcare solutions and devices is growing and medical practitioners finding new ways to deliver care more cost effectively. Flexible PCB used in compact medical devices provides high signal speed, more efficient power distribution and space saving designs. Functional testing, flying probe and ICT testing are highly implemented with upcoming enhancement in electrical testing methods. Beside innovations in testing methods driven by advancements in flexible PCB circuits, research is heading towards the eradication of dangerous viruses across the globe. As medical technology is expanding, digital connectivity will continue new business models that reduce healthcare costs and the flexible circuits will play an important role in that process.
“Global Flexible PCB (Printed Circuit Board) Market Outlook 2024” contains detailed overview of the global flexible PCB market in terms of market segmentation by product type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Flexible PCB Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as 3M, Nitto Denko Corp., NewFlex Technology Co. Ltd., Interflex Co. Ltd. , Sumitomo Electric Industries Ltd. , Fujikura Ltd. , Flexcom Inc. , Daeduck GDS etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global flexible PCB market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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