March 28, 2020

Flexible PCB Market to grow with a CAGR of 10.6% between 2019-2027

According to a new market research report published by Credence Research, “the global market for flexible printed circuit boards was valued at US$ 16.56 billion in 2018 and is expected to reach US$ 41.04 billion by 2027, increasing to CAGR by 10.6 per cent from 2019 to 2027.”

Flexible PCB

Market Insights

The increase in demand for miniaturized electronic and industrial products favours the growth of Flexible Printed Circuit Boards (FPCBs). FPCBs offer great flexibility to engineers while designing low-cost, high-quality and lightweight miniaturized products. They are also preferred in heat-sensitive electronics and products as they are better able to counteract thermal stress compared to rigid PCBs. Their multiple benefits have led to the adoption of flexible circuits in a wide range of fields, such as consumer electronics, automotive, medical, and many other sectors. In addition, increasing penetration of connected and smart devices is expected to further boost demand for flexible circuits in the coming years. Ericsson recently forecast that the total number of connected devices is expected to be 29 billion by 2022, with a CAGR of almost 20%.

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By type, Multi-layer FPCB dominated the global market for flexible printed circuit boards in 2018. On the contrary, the rigid-flex FPCB shows the fastest growth of nearly 12 per cent during the forecast period. Due to its large application in smart and connected technologies, the growth of the rigid-flex FPCB is thriving. Consumer electronics manufacturers are investing heavily in technology to develop next-generation devices. For example, Apple invested tens of millions of dollars in rigid-flex PCBs for its upcoming OLED iPhone 8 in July 2017. The new PCB helped connect chips to every part of the smartphone, such as the display screen and the camera.

Geographically, the global flexible PCB market report is analyzed for North America, Europe, Asia Pacific and the rest of the world. Asia Pacific is the world’s leading flexible PCB market and is expected to have the highest growth over the analysis period. Deep growth in consumer electronics was one of the key factors for Asia-Pacific to have a splendid share of the global market. China, Japan, Korea, and Taiwan are the major centres of production in the Asian region.

Due to the presence of a large number of players, the global flexible printed circuit boards market is highly fragmented and competitive. The players are mainly focused on innovation and development and therefore invest heavily in the R&D sector. Recently, Cicor, a European PCB manufacturer, has invested in MKS Instruments Inc.’s new ESI UV laser drilling technology. Furthermore, the companies have adopted the merger and acquisition strategy to behold a strong footprint in the market. For instance, in June 2017, Compunetics Inc. announced to acquire Circuits LLC, a flexible PCB manufacturer of the USA.

Some of the leading competitors profiled in the global flexible PCBs market report includes NOK Corporation (Nippon Mektron Ltd.), Flexcom Inc., Fujikura Ltd., Sumitomo Electric Industries Ltd. (SEI), Zhen Ding Technology Holding Limited (ZDT), Multi-Fineline Electronix Inc., 3M Company, FLEXium Interconnect Inc., Career Technology, Interflex Co. Ltd., and ICHIA Technologies Inc. among others.

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