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The Increasing Adoption Of EVs And Hybrids Steering The Flexible Printed Circuit Board Market: A Key Catalyst Accelerating Flexible Printed Circuit Board Market Growth in 2025
Flexible Printed Circuit Board
Flexible Printed Circuit Board Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for flexible printed circuit boards has experienced substantial growth lately. It is projected to expand from $26.2 billion in 2024 to $28.36 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.3%. The impressive growth in the past can be linked to the trend of miniaturization in electronic devices that has led to the need for more compact circuits. Additional factors contributing to this growth are a surge in consumer electronics which has heightened the demand for flexible PCBS, advancements in medical devices making use of compact and space-saving circuitry, as well as the military and aerospace sectors' need for lightweight, durable PCBS. The demand from the industrial automation space for flexible PCBS is another key growth driver.
Flexible Printed Circuit Board Market Size Forecast: What's the Projected Valuation by 2029?
The market size of flexible printed circuit boards is predicted to experience significant growth in the coming years. With a compound annual growth rate (CAGR) of 9.7%, it is estimated to reach $41.15 billion by 2029. This anticipated growth within the predicted timeline can be linked to several factors including the rise of foldable gadgets amplifying market growth, expansion of the electric vehicles (EVS) market, and escalating acceptance of flexible PCBS. Likewise, flexible PCBS are in high demand for healthcare wearables, medical devices, smart packaging solutions incorporating electronic components, as well as the increased application of artificial intelligence (AI) across sectors. Major trends for the forecast period involve the growing adoption of Internet of Things (IoT) devices, the emergence of foldable and flexible display technologies, the focus on miniaturization in electronic devices, the upswing in integration of automotive electronics, and advancements in material and manufacturing technologies.
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What Are the Drivers Transforming the Flexible Printed Circuit Board Market?
The rising uptake of electric vehicles is projected to drive the expansion of the flexible printed circuit board industry. Electric vehicles (EVs) are powered by one or more electric engines, and utilize flexible printed circuit boards (FPCBs) to effectively manage and interconnect electronic parts within confined spaces, thereby boosting reliability and performance. For example, the International Energy Agency (IEA), which is based out of France, revealed that the number of electric cars sold in 2023 was 3.5 million more than in 2022, marking a surge of 35% year-on-year. Accordingly, the thriving electric vehicles segment is paving the way for the accelerated growth of the flexible printed circuit board industry.
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What Trends Will Shape the Flexible Printed Circuit Board Market Through 2029 and Beyond?
Leading businesses in the flexible printed circuit board market are concentrating on the creation of new products, such as ultra-thin semiconductor bases, to enhance their market earnings. The inclusion of ultra-thin semiconductor bases in flexible printed circuit boards allows for increased flexibility, downsizing, and better electrical functionality in a range of electronic products. For example, in February 2023, LG Innotek Co. Ltd., an electric component manufacturer from South Korea, introduced the 2-metal chip on film (COF), a state-of-the-art product, packed with over 4,000 two-sided circuits and 24-micrometer microvias. This advanced COF boosts signal transmission speed and supports superior resolution screens while its flexibility and slimness contribute to sleeker designs in electronic gadgets.
Which Segments in the Flexible Printed Circuit Board Market Offer the Most Profit Potential?
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
Subsegments:
1) By Single-Sided FPCBs: Flexible Single-Sided Circuit Boards, Single-Sided Adhesive FPCBs
2) By Double-Sided FPCBs: Flexible Double-Sided Circuit Boards, Double-Sided Adhesive FPCBs
3) By Multilayer FPCBs: Rigid Multilayer FPCBs, Flexible Multilayer Circuit Boards
4) By Rigid-Flex FPCBs: Rigid-Flex Circuits With Embedded Components, Rigid-Flex Circuits With Conventional Components
5) By Other Types: High-Frequency FPCBs, Heat-Resistant FPCBs, Ultra-Thin FPCBs, Biodegradable FPCBs
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Which Firms Dominate the Flexible Printed Circuit Board Market by Market Share and Revenue in 2025?
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 Technologies & 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.
Which Regions Offer the Highest Growth Potential in the Flexible Printed Circuit Board Market?
Asia Pacific was the largest region in the flexible printed circuit board market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible printed circuit board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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