The flexible printed circuit board market is expected to grow at a compound annual growth rate of 7.53% over the forecast period to reach a market size of US$20.900 billion in 2027, from US$12.573 billion in 2020.
Increasing usage in consumer electronics
The market is expected to surge in the coming years due to the rising use of flexible printed circuit boards in consumer electronics, especially smartphones, laptops, displays, and other electronic devices. According to official industrial sources, around 1.5 billion smartphones were sold in the year 2019, due to the rise in disposable income and increasing mobile data connectivity. Countries such as China, India, and the United States are expected to play a significant role in the market growth in the coming years. According to the data given by the India Brand Equity Foundation, India's consumer electronics and appliance market reached around US$10.93 billion in the year 2019. Moreover, the market has been expected to reach over US$21.18 billion in the year 2025. China is also expected to play a significant role in the market growth in the coming years. The country has been the largest manufacturer of consumer electronics globally. The adoption of smart technologies has been one of the imperative factors that have been driving the market growth in the country. The increasing emphasis on research and development has been one of the key factors driving the market growth.
Major firms and corporations have been making a considerable impact in the market in the past few years. With the rise in the demand for high-quality consumer electronics and products worldwide, companies have been expected to spend a significant sum of capital on developing novel and advanced solutions for their customers.
Increasing demand in the automobile sector
The market has been expected to grow during the forecast period due to the rise in the demand for advanced and new flexible printed circuit boards in the automobile sector. According to the data given by the International Organisation of Motor Vehicle Manufacturers, around 92 million vehicles were manufactured and produced in the year 2019, worldwide. Flexible PCBs are used for the safety and improved efficiency of cars. It is also used in rear LED lights, transmission controls, running lights, and control units. Moreover, flexible and rigid-flexible PCBs reduce and minimize the potential risks that lead to electrical failures. Moreover, the increasing demand for electric vehicles is also expected to surge the adoption of electronics and digital solutions. According to the data given by the International Energy Agency, around 2.1 million electric cars were sold in the year 2019. Moreover, the sales of electric cars also registered a 40% y-o-y surge in the same year. These trends and developments are projected to play a significant role in the market growth in the next few years.
Rising use in the aerospace and aviation sector
The market is expected to surge in the coming years due to the rising usage of flexible PCBs in satellites. According to the data given by Airbus and Boeing, two of the major aircraft producers in the market, over 1,750 aircraft were manufactured by these companies in the year 2019. The increasing aircraft traffic has been expected to play a significant role in the rise in the demand for aircraft, worldwide. The flexible printed circuit boards are also used in satellites and other aerospace vehicles and solutions. With the increasing spending on the aerospace sector and the rising involvement of private players in this sector, the demand for novel and advanced flexible printing solutions has been expected to surge at a significant rate in the next few years. Space organizations, such as NASA, ISRO, and others, are expected to increase the adoption of flexible PCBs in the next few years.
|Market size value in 2020||US$12.573 billion|
|Market size value in 2027||US$20.900 billion|
|Growth Rate||CAGR of 7.53% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Eltek Ltd., a Nistec Company, 3M, LG INNOTEK, Amphenol Printed Circuits, Millennium Circuits Ltd., Espec, LLC, CIREXX INTERNATIONAL, All Flex Flexible Circuits & Healers, Wurth Electronik GmbH & Co. KG, AT & S Austria Technologie & Systemtechnik Aktiengesellschaft|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the flexible printed circuit board market size by 2027?
A1. The flexible printed circuit board market is expected to reach a market size of US$20.900 billion by 2027.
Q2. What is the size of the global flexible printed circuit board market?
A2. Flexible Printed Circuit Board Market was valued at US$12.573 billion in 2020.
Q3. What are the growth prospects for the flexible printed circuit board market?
A3. The global flexible printed circuit board market is expected to grow at a CAGR of 7.53% over the forecast period.
Q4. What factors are anticipated to drive the flexible printed circuit board market growth?
A4. The increasing emphasis on research and development has been one of the key factors that have been driving the flexible printed circuit board market growth.
Q5. How is the global flexible printed circuit board market segmented?
A5. The flexible printed circuit board market has been segmented by type, end-user industry, and geography.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Flexible Printed Circuit Board Market Analysis, By Type
5.2. Single-Sided Flex
5.3. Double-Sided Flex
5.4. Multi-Layer Flex
5.5. High-Density Interconnect (HDI)
6. Flexible Printed Circuit Board Market Analysis, By End-User Industry
6.2. Consumer Electronics
7. Flexible Printed Circuit Board Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Eltek Ltd., a Nistec Company
9.3. LG INNOTEK
9.4. Amphenol Printed Circuits
9.5. Millennium Circuits Ltd.
9.6. Espec, LLC
9.7. CIREXX INTERNATIONAL
9.8. All Flex Flexible Circuits & Healers
9.9. Wurth Electronik GmbH & Co. KG
9.10. AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Eltek Ltd., a Nistec Company
Amphenol Printed Circuits
All Flex Flexible Circuits & Healers
Wurth Electronik GmbH & Co. KG
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
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