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Flexible Printed Circuit Board Market 2024 Industry Insights, Business Growth, Trends And Forecast To 2033
Flexible Printed Circuit Board Market
The Business Research Company presents an extensive market research report on the Flexible Printed Circuit Board Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The flexible printed circuit board market size has grown rapidly in recent years. It will grow from $23.63 billion in 2023 to $26.20 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to miniaturization of electronic devices driving demand for compact circuitry, consumer electronics boom increasing demand for flexible PCBS, medical device innovation utilizing flexible and space-efficient circuitry, military and aerospace applications for lightweight and durable PCBS, and demand from industrial automation for flexible PCBS.
The flexible printed circuit board market size is expected to see rapid growth in the next few years. It will grow to $38.81 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to the emergence of foldable devices driving market growth, electric vehicles (EVS) market growth and increased adoption of flexible PCBS, healthcare wearables demand for flexible PCBS in medical devices, smart packaging solutions utilizing flexible PCBS for electronic components, and rise of artificial intelligence (ai) applications across industries driving demand. Major trends in the forecast period include increasing adoption of internet of things (IoT) devices, rise of foldable and flexible display technologies, emphasis on miniaturization in electronic devices, surge in automotive electronics integration, and advancements in materials and manufacturing technologies.
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Key Market Players:
Major companies operating in the flexible printed circuit board market report are 3M Company, Jabil Inc., Flex Ltd., Nitto Denko Corporation, Samsung Electro-Mechanics Co. Ltd., Zhen Ding Technology Holding Limited, Fujikura Ltd., NOK Corporation (Nippon Mektron Ltd.), Molex LLC, TTM Technologies Inc., Tripod Technology Corporation, Austria Technologie & Systemtechnik Aktiengesellschaft, FLEXium Interconnect Inc., Multi-Fineline Electronix Inc., Cicor Group, Interflex Co. Ltd., ICHIA Technologies Inc., NewFlex Technology Co. Ltd., IEC Electronics Corp., Eltek Ltd., Career Technology Mfg. Co. Ltd., Sumitomo Electric Industries Ltd., Multek Corporation, Daeduck GDS Co. Ltd., Flexcom Inc.
Market Drivers:
The increasing adoption of electric vehicles is expected to propel the growth of the flexible printed circuit board market going forward. An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. Flexible printed circuit boards (FPCBs) in electric vehicles are used to efficiently connect and manage electronic components in limited spaces, enhancing reliability and performance. For instance, in April 2023, according to the International Energy Agency, a France-based intergovernmental organization, electric cars accounted for 21% of sales in 2022, an increase from 18% in 2021 and 10% in 2020. Therefore, the increasing adoption of electric vehicles is driving the growth of the flexible printed circuit board market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/flexible-printed-circuit-board-global-market-report
The flexible printed circuit board market covered in this report is segmented -
1) By Type: Single-Sided FPCBs, Double-Sided FPCBs, Multilayer FPCBs, Rigid-Flex FPCBs, Other Types
2) By Laminate: FR-4Polyamide, Composite Epoxy Material Grade-1, Paper, Other Laminates
3) By End User: Industrial Electronics, Aerospace And Defense, Information Technology And Telecom, Automotive, Consumer Electronics, Other End Users
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