Global Flexible Printed Circuit Board Market is Estimated to Reach $33 Billion by 2024, Says Accurize Market Research
Global Flexible Printed Circuit Board Market report published by Accurize Market Research forecast that the global market is expected to reach $33 billion by 2024; growing at a CAGR of 10.4% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increased demand for compact & flexible devices to drive the global market
Growing demand for compact & flexible devices coupled with increasing popularity for wearable devices are factors majorly driving the global flexible printed circuit board market. Still, technological advancements and expanding performance requirements by end-users are also expected to fuel the market. However, high initial expense and lack of professionals to operate may hamper the growth of the FPCB market. Though, growing applications in automated robots, automotive sector and healthcare could push the growth opportunities in the forecast period.
Market Segmentation
The global flexible printed circuit board market is split into type, applications, and geography. By type segment, the FPCB market is divided into single sided flex circuits, double sided flex circuits, rigid flex circuits, multi-layer flex circuits, and others. The application segment is divided into instrumentations & medical, consumer electronics, computers & data storage, automotive, defense & aerospace, telecommunications, industrial electronics and others. North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.
"Multi-layered flex circuits accounted for the largest market share in the type segment", says Accurize
Multi-layered flex circuits accounted for the largest market share in 2017, whereas rigid flex circuits dominated the segment with fastest CAGR during the forecast period 2017-2025. Whereas, consumer electronics and instrumentations & medical dominated the applications segment with highest market share.
“Asia Pacific dominated the global market with the highest market share over the forecast period", says Accurize
Asia Pacific accounted for the largest market share in 2017 which is expected grow at fastest CAGR during the forecast period 2017-2025, owing to the increased penetration of smart devices, industrialization, high adoption of sensors and presence of numerous semi-conductor manufacturers. This was followed by North America accounted with the second largest market share in 2017.
Top players in the market
Major players operating in the market include 3M Company, Nippon Mektron, Ltd., Interflex Co., Ltd., Sumitomo Electric Industries, Ltd., LG Innotek, Flexible Circuit Technologies, Inc., Nitto Denko Corp., Fujikura Ltd., Zhen Ding Technology Holding Limited and MFS Technology Ltd, among others.
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