The global flexible printed circuit boards market size is estimated to be USD 26.8 billion, by the end of 2025, and is projected to grow at the CAGR of over 11.2% during the forecasted period, 2019 to 2025, according to the new report by Million Insights. Increasing demand for the compact electronic devices is mainly boosting the growth of flexible printed circuit boards (PCB). In addition, rising demand in the telecom and IT sector along with the high demand for high-speed data processing is pushing the need for flexible circuits.
Furthermore, flexible-printed type circuit boards are lighter in weight & thin in size when compared with other circuit boards. Additionally, various factors like cost and durability are increasing the adoption of flexible PCBs. In the automotive sector, growing demand for innovative navigation displays, miniatures are proliferating the utility of flexible PCBs.
These PCBs are widely used in health monitoring and medical equipment which include modulation devices, neuro-stimulation, pacemakers, and defibrillators. Flexible PCBs provide various benefits including enhanced performance and packaging flexibility which are expected to positively impact the market growth. Manufacturers in the market continuously focus on developing fabrication technology to produce improved PCBs. Various companies provide dedicated/tailored flexible circuit boards according to specification framed by original equipment manufacturers.
The flexible printed circuit board market is witnessing significant growth due to rising awareness among OEMs about these PCBs. This includes benefits provided by PCBs such as wiring errors, circuit complexity, operating temperature, and weight.
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Further key findings from the report suggest:
• In 2018, double-sided circuits type segment led the market with highest share of around 45.0% in the overall market. This growth is mainly due to increased efficiency provided by PCBs.
• Consumer electronics end-use segment is contributed to largest market share in 2018. This segment is anticipated to grow at the highest CAGR from 2019 to 2025, due to the increasing demand of electronics devices such as smartphones, laptops, and others.
• Based on end-use, automotive sector is estimated to grow at a fastest CAGR over the forecasted period.
• Asia Pacific region is projected to lead the FPCB market by 2025, due to the growing manufacturing industries development across the countries like Japan, South Korea, and China.
• Key companies in the market include TTM Technologies, AT&S, Eltek Ltd, Cicor Management, Benchmark Electronics, Flex Ltd, and IEC Electronics.
Million Insights has segmented the global flexible printed circuit boards market based on type, end use, and region:
Flexible Printed Circuit Boards Type Outlook (Revenue, USD Billion, 2015 - 2025)
• Single Sided Circuits
• Double Sided Circuits
• Multilayer Circuits
• Rigid-Flex Circuits
Flexible Printed Circuit Boards End-use Outlook (Revenue, USD Billion, 2015 - 2025)
• Industrial Electronics
• Aerospace & Defense
• IT & Telecom
• Consumer Electronics
Flexible Printed Circuit Boards Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa