Market Research Future published a research report on “Flexible Printed Circuit Board Market Research Report- Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
As per the latest study conducted by Market Research Future (MRFR), the global flexible printed circuit board market is likely to surpass a valuation of USD 27,900 Mn by the year 2023. Increased investment in miniaturization of electronic devices has result in a significant uptick in demand for flexible circuit boards. These boards are the outcome of consistent effort towards enhancing circuit board systems. They are being increasingly used in electronic devices across automotive, healthcare, consumer electronics among others.
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Flexible printed circuit board also known as flexible PCBs, flexible circuits and flex circuit. They are used in circuitry and rigid printed components. The material used for making such board have special characteristics that offer suppleness to the finished product. The growing demand for consumer electronics and penetration of smart devices such as mobile phones and smartwatches. Also, increased adoption of flexible displays in a range of electronic products has also boosted the market prospects of flexible printed circuited boards. At the same time, integration of flexible-circuit laminates and thermal performance in electronic devices opening new windows of opportunities for flexible printed circuit boards.
Some of the key players in Flexible Printed Circuit Board Market are 3M Company (Ticker: MMM) (U.S.), BHflex co. Ltd. (South Korea), Flexible Circuit technology (U.S.), Sumitomo Electric Industries (Japan), Fujikura (Japan), Daeduck GDS Co. Ltd. (South Korea), Career technology Co. Ltd. (Taiwan), Flexcom Ltd. (South Korea), Interflex Co. Ltd. (South Korea), Orbotech Ltd. (Israel) and Zhen ding Technologies (Taiwan) among others.
The worldwide flexible printed circuit board market can be distinguished on the basis of application area, type, and region.
- On The Basis Of Application Area, the worldwide flexible printed circuit board market can be distinguished into consumer electronics, medical devices, manufacturing, aerospace & defense, wearables, automotive, and others.
- On The Basis Of Type, the worldwide flexible printed circuit board market can be distinguished into multilayer flex, single-sided flex, rigid-flex, double-sided flex.
- On The Basis Of Region, the worldwide flexible printed circuit board market can be distinguished into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
The global market for flexible printed circuit board market is projected to expand generously during the assessment period. The regional analysis of North America, Asia-Pacific, Europe, and the Rest of the World (RoW) has been performed. According to MRFR, the APAC region is likely to be the most lucrative and largest market during the assessment period. The region acquires more than 50% of the market share. Countries such as Taiwan, China, and South Korea are projected to make the most substantial contribution in flourishing the regional market. APAC is also chosen as one of the most ideals region to invest. Besides, China is one of the largest electronic manufacturing hubs in the world.
Further, there are several macro and microeconomic factors that are driving the regional market. As per the research, the second position is attained by North America. The region is predicted to expand at the highest CAGR during the review period. The market is estimated to hold a substantial value of USD 3,300 million. The region is estimated to flourish due to the presence of various established players. Europe and RoW are projected to grow significantly during the forecast period.
However, the market graph is estimated to change due to the outbreak of COVID-19. Various regions have been under the observation of lockdown.
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