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Flexible PCB Market to Reach $27.6 Billion by 2023
September 11, 2018 | Globe NewswireEstimated reading time: 3 minutes
Flexible printed circuit board (FPCB) market is expected to increase from $13.5 billion in 2016, to $27.6 billion in 2023, at a CAGR of 10.7% from 2017 to 2023.The factors driving the FPCB market are increasing demand for smart-phones and hand held devices, growing popularity of Internet of Things (IoT) and increasing scope of application of FPCB in various industries such as consumer electronics, automotive, telecommunication, healthcare, defense and aerospace industries. Increasing demand of cost effective wiring systems also fuels the global FPCB market.
Flexible printed circuit boards (FPCBs) are used to electrically connect and mechanically support various electronic components. FPCB are mainly used in display (LCD Panel and Touch screen), optical drives, hard disks, electronic video cameras, computing (HDD and ODD), communication (mobile phones) and automotive industry. FPCB are used for small RF/microwave antennas and high vibration environment circuits in defense and aerospace sector.
Segmentation of the global FPCB market on the basis of type include single sided flex circuits, double sided flex circuits, multi-layer flex circuits and rigid flex circuits. The multi-layer flex circuits segment was the largest segment in the global FPCB market in 2016. And, rigid flex circuits segment in the global FPCB market is expected to be the fastest growing segment during the forecast period. On the basis of application, the global FPCB market is segmented into telecommunication, automotive, consumer electronics, industrial electronics, defense & aerospace, instrumentation and medical. The consumer electronics segment in application area was the largest segment in the global FPCB market in 2016. In healthcare sector, the flexible printed circuit boards are used in various medical equipment and health monitoring devices such as defibrillators, pacemakers, cardiac rhythm management, neuro-stimulation, modulation devices and external hearing devices.
Geographically, Asia-Pacific region held the largest share of the global flexible printed circuit board market in 2016. Asia-Pacific region is expected to hold the major share of the flexible printed circuit board market during the forecast period. Latin America and MEA (Middle East and Africa) are the key emerging regions in the global FPCB market.
The key players operating in the global FPCB market are Career Technology, Felxcom Inc., NOK Corporation, Nitto Denko Corporation, Daeduck GDS, Fujikura Ltd, Interflex Co. Ltd., Sumitomo Electric Industries Ltd, Multi-Fineline Electronix Inc. and NewFlex Technology Co. Ltd.
Flexible printed circuit board are being incorporated in various industries and are widely used in industrial electronics, telecommunication, automobiles, healthcare, consumer electronics, aerospace and defense. Technological advancement such as reliability of systems, miniaturization of the electronic components and energy efficiency are some factors owing to increasing demand for FPCB in various industries and sectors. Furthermore, the increasing demand of hand held devices such as smart-phones and tablets with rising disposable income and technological innovations makes FPCB more popular among mobile device manufacturer.
Flexible Printed Circuit Board Market - Regional Insight
The Asia-Pacific region held the largest share of the global flexible printed circuit board market in 2016. Increasing demand for smart-phones and hand held device, technological advancement in the field of electronics are the major driving factors for the largest share of the FPCB market in the years to come. Asia-Pacific region is expected to hold the major share of the flexible printed circuit board market during the forecast period. The factors driving the growth of the FPCB market in the Asia-Pacific region are increasing demand of smart-phones and hand held devices and rising disposable income in the region. Latin America and MEA (Middle East and Africa) are the key emerging regions in the global FPCB market. The factors propelling the market growth in these regions are rise in adoption of FPCB in automotive application and increasing use of portable appliances and gadgets.
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