Flexible PCB Market size is set to record considerable growth through 2027, mainly ascribed to the rising sales of electronics aligned with increasing demand across the semiconductor industry.
Flexible PCBs are lightweight and thin and boast the ability to save up to 60% of the weight and space in comparison to rigid PCBs. Additionally, benefits offered in terms of cost and durability have further bolstered their adoption across diverse end-user industries. Moreover, demand for flexible, miniature and compact electronics in automotive and medical industry is as well likely to have a positive impact on the market growth.
Furthermore, merits like economical nature, lightweight, design freedom, and simple structuring would fuel the growth of flexible PCBs industry over the span of 2021-2027. Eminent factors including high packaging flexibility, quality performance, and reliable applications are further expected to complement the industry expansion.
However, high cost of materials required for production of these printed circuit boards is poised to cause hinderance to the overall growth of flexible PCB market in the coming years.
The demand for multi-layer flexible PCBs is gaining ground globally. These circuit boards are generally produced by combining single and/or double-sided circuits. The product comes with various positive attributes like higher assembly density, increased flexibility, reduced need for interconnection wiring harness, smaller size, and easier incorporation-controlled impedance features. Owing to this, multi-layer flexible PCBs are touted witness a significant acceptance across various industrial verticals including the aerospace sector. Various companies have been relentlessly looking forward to bringing up novel innovations in the space, creating a competitive edge for the rivals. For instance, HENSOLDT, in partnership with Nano Dimension, introduced an assembly of a double-sided 10 layer PCB. Such advancements would add to the growth curve of market in the coming years.
The consumer electronics segment is projected to register notable gains through 2027, driven by the mounting use of these circuits in modern day electronics items such as smartphones, laptops, wearables, and more. FPCBs offer significant interconnectivity solutions for these devices. Surging penetration of consumer electronics worldwide is anticipated to have a positive influence on the overall growth curve of market.
Asia Pacific flexible printed circuit board market would expand during the forecast period, with China, South Korea, Japan, and Taiwan leading the base. These countries are considered to be the semiconductor hubs as they produce a large chunk of PCBs worldwide. Large scale investments in flexible PCB production technology by various semiconductor manufacturers in the region are predicted to further bolster the market progression in the coming years.
Some of the leading players active in global flexible PCB market are NOK Corporation, Interflex Co., Fujikura Ltd, Zhen Ding Technology Holding Limited, BHflex Co., Ltd., Multi-Fineline Electronix, Inc., and Sumitomo Electric Industries, Ltd, amongst others.
These companies have been engaged in strategic practices like acquisitions, partnerships, collaborations, product launches, and more, to gain a competitive edge in the overall market.
The dreaded outbreak of novel coronavirus pandemic has brought about a significant impact on the market. It has potentially slowed down the supply chain and reduced consumer demand, in turn resulting in declined sales of consumer electronics. In fact, the semiconductor industry has been recording low profits during 2020, led by the shortage in chips. These factors would negatively affect the growth structure of market.