ID: MRFR/SEM/6066-HCR | 100 Pages | Author: Ankit Gupta | June 2023
flexible heater market is to reach USD 1,424 million by the end of the forecast period in 2027 from USD 905 million in the historic forecast period that had ended in 2019 at a CAGR of 8.1%.
Globally, the size of the Flexible Heater Market is expected to reach USD 1,424 million at a CAGR of 8.1%. during the forecast period 2020-2027 driven by technologically advanced properties and flexible formation of heaters. The market is witnessing the presence of factors such as a wide range of applications and rising demand from several industries that are driving the growth of the market. Also, the flexible form factor, technological advancements, and other perspectives like the launch of innovative products and the high adoption of flexible heaters in medical applications are several other factors driving the flexible heater market toward significant growth during the ongoing forecast period.
The pandemic outbreak has been a significant concern for the global functions undertaken by various markets, and the flexible heater market is one of the affected marketplaces. The outbreak has imposed questions on the functioning of the market and the management of the healthcare systems across the globe and disrupted the demand and supply chain mechanism of the global market operations that are visible in global market operations. In addition, the unavailability of resources and raw materials is challenging the functioning of the manufacturing and production department. Skilled labor is facing functional issues that hamper their ability to meet the rising needs of the global target audience.
However, the rising collaborations between the global governments and the key market players across various market regions are showing better signs of improvement that will help in the projected expansion of the flexible heater market during the ongoing forecast period ending in 2027 by the business chiefs and potential buyers and international market investors.
The silicone rubber-based flexible heaters market, as a part of the global industry, is expected to grow at the highest CAGR during the forecast period from 2019 to 2027. The largest flexible heaters market size of silicone rubber-based flexible heaters is because of the use of these heaters in semiconductor systems (plasma etch systems, probing stations, IC test handling equipment, photo-resist track systems), electronics appliances (refrigeration equipment, coffeemaker, and wax-maker), and applications in medical, aerospace & defense, food & beverages, automotive, and oil & gas and mining. Increasing demand for such systems and products is expected to drive the silicone rubber-based flexible heater market toward the highest growth during the forecast period. They are durable and can withstand the maximum operating temperature of 450°F (232°C).
The flexible heater market trends suggest that the industry is facing many issues with its expansion and diversification during the ongoing forecast period that will be ending in 2027. Some of the market factors that will give rise to market restraints are the high costs of the market inputs followed by the unavailability of resources, skilled professionals, and raw materials. Also, the lack of awareness and funding is hampering the potential of the flexible heater market segments, regions, and market players during the ongoing forecast period ending in 2027.
Among various industries participating in expanding the flexible heater market share, electronics and semiconductors are expected to have the largest market share and exhibit the highest CAGR in the flexible heater market during the ongoing forecast period ending in 2027. These market products as heaters are used in semiconductor manufacturing such as plasma etch systems, probing stations, IC test handling equipment, photo-resist track systems, copy machines, LCD screen preheating, ATMs, followed by some like semiconductor test modules, handheld scanners, and various other equipment. In addition, the applications of flexible heaters are also found in electronics such as refrigeration equipment, coffeemaker, and others like wax-maker. The increase in demand for such products is expected to drive the flexible heaters market used in the electronics and semiconductor industry during the ongoing forecast period ending in 2027.
With the largest flexible heater market share and highest CAGR, the APAC region is expected to dominate the overall flexible heater market during the forecast period ending in 2027. The growth of the flexible heater market in the APAC region, including countries like India, China, Japan, and South Korea, is mainly attributed to the increasing demand for these heaters in various medical devices, analytical instruments, avionics, defense systems, semiconductors, and commercial food equipment. The electronics, semiconductor, and automotive industries flourish in the APAC region. Hence, the demand for medical devices and food equipment is expected to grow at the fastest pace in this region in the coming years. The economic growth of the regional markets in the APAC region, along with the advantage of lower operating costs in countries such as China and India, is expected to drive the flexible heater market for silicone rubber-based flexible heaters in this region during the ongoing forecast period that will be ending in 2027. The APAC region is emerging as the largest market for electronics and semiconductor production, primarily dominated by China, India, Japan, Korea, and Taiwan. It is expected to expand substantially, further in the coming years.
The flexible heater market share will be rising during the ongoing forecast period that will be ending in 2027 owing to the steps undertaken by the understated market players:
The global market report has been prepared to understand the flexible heater market trends in the industry that were and are prevalent before and after the pandemic hit international waters since its arrival in 2020 from Wuhan, China. The curated market report talks about the functions of the flexible heater market companies in personal. It discusses their potential that either improves or hampers their ability to cater to the demands post the pandemic. The report discusses the functions of the market segments in various market locations and hence, discusses the recent developments like investments, product launches, mergers, acquisitions, and other steps like joint ventures and funding the market creations, that have been undertaken to help in the market expansion during the period that ends in 2027.
|Market Size 2027||USD 1,424.6 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Nibe Industrier AB (Sweden), Honeywell International Inc. (US), OMEGA Engineering (US), Watlow Electric Manufacturing Co. (US), Smiths Group PLC (UK), Chromalox, Inc. (US), Rogers Corporation (US), Minco (US), Zoppas Industries (Italy), and Tempco Temperature Measurement Pvt. Ltd (India) Electric Heater Corporation (US), All Flex Flexible Circuits & Heaters (US), Thermocoax (France), Durex Industries (US), Holroyd Components (UK), Hotset India Private Limited (India), MIYO Technology Co., Ltd (Taiwan), Thermo Heating Elements LLC (US), Bucan Electric Heating Devices Inc. (US), Delta/Acra (US), and Nel Technologies Ltd (UK)|
|Key Market Opportunities||The increasing demand from electronics and semiconductor industry.|
|Key Market Drivers||The increase in portable electronic battery operated devices. The technologically advanced properties and flexible formation of heaters.|
From 2020 to 2027, the Flexible Packaging Market is projected to be worth USD 1,424 million and a CAGR of 8.1%.
Rogers Corporation (US), Chromalox, Inc. (US), Minco (US), Tempco Temperature Measurement Pvt. Ltd (India), Zoppas Industries (Italy), and Electric Heater Corporation (US) are the opponents in the market.
A huge electronics and semiconductor industry base are anticipated to encourage the APAC regional market in the impending period.
The segments in the market are end-user, type, and region.
The technologically progressive properties and bendable formation of heaters are expected to contribute to the overall market growth.
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