Flexible Printed Circuit Board Market Set for Huge Growth in the Near Future

The emergence of Internet of Thing (IoT) across the world has had a substantial influence on a variety of products and markets, of which the global flexible printed circuit board market is a prominent one. With the increasing penetration of smartphones, tablets, and laptops, the demand for flexible printed circuit boards has increased significantly, leading to a remarkable rise in the market’s valuation. Apart from this, the soaring demand for consumer electronics and rising uptake of these boards in automotive applications are also boosting this market considerably. However, the market may face challenges from the dynamic nature of the semiconductors and electronics industry over the forthcoming years.

The worldwide market for flexible printed circuit boards stood at US$13.51 bn in 2016. Rising at An impressive CAGR of 11.0% between 2017 and 2025, the market is likely to offer an opportunity worth US$33.39 bn by the end of 2025.

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Based on the product type, the global market for flexible printed circuit boards has predominantly been categorized into single-sided flex circuits, double-sided flex circuits, multi-layer flex circuits, and rigid flex circuits. Apart from these, sculpted flex circuits, single layered flexible circuits, and double access flexible circuits are also prominent types of flexible printed circuit boards available in this market. In terms of revenue, the multi-layer flex circuits segment led the market in 2016 and is expected to maintain its dominance over the next few years.

The rigid flex circuits segment, on the other hand, is expected to offer most promising growth opportunities to market players in the years to come, thanks to the rising demand for portable electronic devices in various economies, such as China, India, Japan, the U.K., the U.S., Germany, and Singapore.

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The Middle East and Africa, Asia Pacific, North America, Latin America, and Europe have been considered as the key regional markets for flexible printed circuit boards across the world. Asia Pacific led the global market with a share of 56% in 2016 and is likely to retain its position over the next few years. The increasing penetration of smart devices, swift development of industrial infrastructure that supports integration of process automation, rising adoption of sensors in automobiles, and escalating investments in communication technologies are driving the growth of the Asia Pacific market for flexible printed circuit boards. In addition to this, the rise in large scale investments in flexible printed circuit board manufacturing technology - Asia Pacific is a massive hub for semiconductor manufacturers - is anticipated to boost this regional market in the near future.

North America, which was the second leading market for flexible printed circuit board in 2016, across the world, is also projected to witness significant growth in its market share over the forthcoming years, thanks to the rising demand for consumer electronics, smart automotive applications, state-of-art healthcare devices, and process automation systems in the power, and the oil and gas sectors are expected to propel the North America flexible printed circuit board market in the years to come.

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NOK Corp., Nitto Denko Corp., NewFlex Technology Co. Ltd., Interflex Co. Ltd., Sumitomo Electric Industries Ltd., Multi-Fineline Electronix Inc., Fujikura Ltd., Flexcom Inc., Daeduck GDS, and Career Technology (Mfg.) Co. Ltd. are some of the key participants operating in the global market for flexible printed circuit boards.

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This release was published on openPR.