Flexible Substrates Market to Reach $1104.6 Million by 2026

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According to the current analysis of Reports and Data, the global flexible substrates market was valued at $402.9 million in 2018 and is expected to reach $1104.6 million by year 2026, at a CAGR of 14.0%. The study covers in-depth analysis of flexible substrates and challenges faced by them. Flexible substrates are substance or fundamental layer. They are used in flexible electronics, (a technology of assembling electronic circuits), where the electronic devices are mounted on flexible substrates.

Flexible substrates are primarily used for exploration of photovoltaics. The global flexible substrates market is driven by rise in the increase of printed technologies, increasing demand for the organic light emitting diodes (OLED), increasing digitalization and penetration of consumer electronic products. Printed Electronics brings together the industries of microelectronics, electronics assembly and printing. This fast-growing technology makes it possible to print circuits, sensors, memory, batteries and displays, all onto thin, lightweight, flexible substrates. Continuous fluctuations in the prices of raw materials, high manufacturing costs are some of the major hindrance faced by the flexible substrates market.  

Further Key Findings from the Report Suggest

• Increase in the consumer electronics industry as well as environmental friendliness of batteries are some of the key factors for the growth of flexible substrates market.
• Flexible substrates can be used in a number of industries for various kinds of purposes. Thus, is also one of the main reasons for the rise in the sales of flexible substrates.
• Lately, one of the most interesting areas in the flat panel display industry is the emergence of flexible displays. To enable a flexible flat panel display, flexible plastic substrates must be applied to replace conventional glass substrates. However, limitations of plastic materials in optoelectronic device applications are their permeability of oxygen and moisture. Thus, high performance gas barrier coating is indispensable on the surface of plastic substrates. The silicon based inorganic thin films deposited by plasma-enhanced chemical vapor deposition (PECVD) has been extensively used as gas barrier films.
• In order to attract a larger number of customers many companies are engaged in the launch of new products and acquisitions. For instance, Corning EAGLE XG Slim glass of 0.4 mm thickness in sizes up to Gen 8.5. It provides improved performance and greater reliability for curved TV panels. It also helps in producing thinner and lighter large -size displays. Other than this, Corning invested USD 1.3 billion in a Gen 10.5 glass substrates and Gen 8.5 glass substrates.
• North America is the largest revenue generating region global flexible substrates market with a CAGR 13.8%. It holds 42.7% of the total market share owing to its technological advancements in consumer electronics industry. The second highest share is held by European region (28.9%) in the flexible substrate market
• Asia Pacific region is the fastest growing region in the global flexible market which accounts for 20.6% of the total market share with a CAGR 15.1 owing to increasing demand from the consumer electronics and solar energy sectors in countries in this region. China market is expected to account for major share in terms of revenue in the Asia Pacific, whereas the India market is projected to register highest CAGR over the forecast period.
• The plastic segment in flexible substrates market is anticipated to grow at the highest CAGR (14.5%) and lead the market during the forecast period owing to its low cost involved in using technology for producing low-cost, flexible printed circuit boards, thereby enabling increased production of consumer electronics.
• The glass and metal segments hold 31.3% and 10.4% of the total market share respectively.
• Key players in the flexible substrates market include Schott, Teijin, Kolon industries, Nippon Electric Glass, American semiconductor, Heraeus, Corning.

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