Flexible Printed Circuit Boards Market report, published by Allied Market Research, forecasts that the global market is expected to garner $27 billion by 2022,growing at a CAGR of 10.4% from 2016-2022.
Asia-Pacific dominated the global market, in terms of revenue, accounting for more than 46% in 2015, followed by North America.
Flexible PCBs are highly efficient interconnectivity solutions used for a wide range of electronic devices with complex circuitry. Moreover, they offer numerous benefits such as high efficiency and reduced system maintenance. Multilayer FPCBs represent almost 30% of the total FPCBs market, owing to their resilience and high efficiency. In addition, substantial demand for electronics applications and customer shift towards compact printing to achieve better efficiency are expected to fuel its adoption in the consumer electronics, automotive, and other industry sectors.
FPCBs are widely used across applications such as LCD display, mobile screen, connectivity antennas, and flexible circuitry used in rechargeable batteries. Growth in demand for consumer electronic goods, increase in popularity of Internet of Things (IoT), and adoption of FPCBs in automotive applications drive the market growth. Moreover, increase in demand for automated robots is expected to provide lucrative opportunities to market players. Multilayer FPCBs led the FPCBs market, and is expected to maintain this trend throughout the forecast period. However, the rigid-flex FPCBs segment is expected to witness significant growth in the future, owing to the compact size and low power consumption.
Among end user, consumer electronics dominated the global market in 2015, accounting for about 30% share. However, automotive electronics is expected to grow at the highest CAGR of 10.7%, owing to increase in demand for durable devices with enhanced efficiency.
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Asia-Pacific was the major revenue contributor in 2015, and is expected to maintain its dominance in the future, owing to increase in number of electronic applications. Moreover, developments in consumer electronics and industrial systems are expected to boost the FPCBs market growth, especially in the Asian countries, such as China, Japan, Oceania, and India.
LAMEA is projected to grow at the highest CAGR during the analysis period, owing to increase in portable appliances and rise in the adoption of FPCBs in automotive applications. Moreover, technological advancements to overcome power loss issues in extreme conditions are projected to offer lucrative opportunities for market players in the near future.
The key players operating in the FPCB market have adopted new product launch as their preferred strategy to expand their market foothold. The major players profiled in this report include NOK Corporation (Nippon Mektron Ltd.), Sumitomo Electric Industries, Ltd. (SEI), Fujikura Ltd., Multi-Fineline Electronix, Inc., Zhen Ding Technology Holding Limited (ZDT), Nitto Denko Corp., Interflex Co., Ltd., Career Technology, FLEXium Interconnect, Inc., and ICHIA Technologies Inc.
The global flexible printed circuit boards (FPCBs) market is expected to witness significant growth in the near future, owing to growth in sales of consumer electronics and automobiles. Flexible PCBs are designed to overcome limitations of rigid PCBs and manual wiring. Printed circuit boards (PCBs) were used earlier in industrial systems for data transmission. However, other industries, such as consumer electronics, energy & power, inverter & UPS, and automotive, have adopted FPCB to efficiently manage data transfer, owing to the advent of advanced technology and increase in awareness about the benefits of FPCB technology. Market players have focused on the development of innovative products for applications in telecommunication and electronic appliances to enhance their efficiency. FPCB enable high-frequency data transfer to improve efficiency and prevent power loss. Low power consumption and intense competition have resulted in industries adopting multilayer FPCBs, which has stimulated the market growth.
Numerous advantages such as lightweight nature, simple structuring, cost saving, and design freedom drive the market growth. However, challenges in error detection & handling methodologies and maintaining accuracy in artwork hamper the market growth. Nevertheless, adoption of FPCBs in flexible diode display used in organic light-emitting diodes (OLED) and flexible solar cells, and increase in demand for high-frequency electronic gadgets provide various growth opportunities to market players. However, prominent players have developed low-cost, compact, affordable, and energy-efficient printing techniques to increase the efficiency of the applications. Asia-Pacific is the major revenue contributor to the global market, followed by North America. It is projected that the market growth in North America and LAMEA is expected to significantly increase during the forecast period.
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