Global Flexible Printed Circuit Board Market size is projected to be valued $33 Billion by 2024; with a CAGR of 10.4% from 2017 to 2025. Flexible printed circuit board (FPCB) is designed as a replacement for traditional wire harnesses. FPCBs are highly used in cell phones, cameras, pacemakers, laptops, and cochlear implants among others. Increasing research and development has led to the development of new FPCBs that have been constantly contributing to the improvement and evolution of people’s modern life. In addition, technological advancements have led to the development of special PCBs such as metal core PCBs, SMT PCBs and among others.
Increasing demand for compact and flexible devices coupled with rising popularity for wearable devices are boosting the growth of the global flexible printed circuit board market. Moreover, technological advancements and expanding performance requirements by end-users are also expected to fuel the FPCB market. However, high initial costs and lack of trained personal to operate may hinder the growth of the market. Furthermore, growing applications in automated robots, automotive sector and healthcare would provide growth opportunities in the coming years.
The global flexible printed circuit board market is segmented based on the type, application and geography. By type, it is segmented into single sided flex circuits, double sided flex circuits, multi-layer flex circuits rigid flex circuits and others. Furthermore, application is segmented into instrumentations & medical, computers & data storage, consumer electronics, automotive, telecommunications, defense & aerospace, industrial electronics and others.
By geography, the FPCB market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Italy, Germany, France and others. Asia-Pacific covers India, China, Japan, South Korea and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include Sumitomo Electric Industries, Ltd., LG Innotek, Flexible Circuit Technologies, Inc., Nitto Denko Corp., 3M Company, Nippon Mektron, Ltd., Interflex Co., Ltd., Fujikura Ltd., Zhen Ding Technology Holding Limited and MFS Technology Ltd.
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Scope of the Global Flexible Printed Circuit Board Market