Flexible Printed Circuit Board Market Research Report- Global Forecast to 2027

Flexible Printed Circuit Board Market: By Type (Multilayer Flex, Rigid-Flex, Double-Sided Flex and Single-Sided Flex), By Application Area (Consumer Electronics, Manufacturing, Aerospace & Defense, Medical Devices, Automotive, Wearables and Others) - Forecast till 2027

ID: MRFR/SEM/0692-CR | February 2020 | Region: Global | 100 pages

MARKET OVERVIEW


As per the latest study conducted by Market Research Future (MRFR), the flexible printed circuit board market is likely to surpass a valuation of USD 27,900 Mn with CAGR Of 12.6% by the year 2023. The printed circuit board is extremely efficient and has interconnectivity solutions that are adapted to be used for a wide range of electronic devices with modernized printed circuit board design. These circuit boards are made up of conductive material which is designed on a flexible substrate and is used to avoid the complex structuring of wiring and other connectivities. Printed circuit boards act as an efficient interconnectivity option between electric devices like capacitors, resistors, and integrated circuits. From FBCB market you will mark the demand and growth in the field of aerospace and engineering.


COVID 19 ANALYSIS


The outbreak of COVID has spread the virus globally and almost to every country. The global impact has brought impact to the flexible printed circuit board market. It has slowed down the supply chain and has decreased consumer demand. It has created a panic situation among the public and deteriorated the business of the FPCB market.
The government has imposed indoor and outdoor lockdowns and strict restrictions regarding the movements. He has also imposed emergencies in the majority of the countries.

MARKET DYNAMICS


Drivers


  • Flexible printed circuit board materials are light in weight and economical. Its simple structuring and the printed circuit board design becomes the driving factor for the flexible printed circuit board market. It has reliable applications and has high packaging flexible options, and its quality performance projects up the flexible printed circuit board market. An increase in demand and producing consumer devices like mobile phones for users is advantageous for the expansion of flexible printed circuit board market.


Opportunities


  • Using the flexible printed circuit board material lessens the expenses and gives proper interconnectivity solutions to the flexible printed circuit board market. Flexible printed circuit boards are very much reliable and are the best replacement for traditional wiring methods.


Challenges


  • Maintenance of complexity of flexible printed circuit connector including other wirings and other electronic devices is the major challenging factor faced by the flexible printed circuit board market. The absence of complex wiring makes the printed circuit board compact thus becoming a challenging factor of the market. High price during the manufacturing process where copper foil, electrolytic solvents, and cobalt salts are used as flexible printed circuit board material increases the high price of the materials. The use of high-density interconnects is the most challenging factor of the FPCB market.


Cumulative growth


  • Printed circuit board manufacturers are especially concentrating on finding the solutions for PCBs. these printed circuit board designs are purposefully used in consumer electronics namely cell phones, LCDs, connectivity devices, and flexible circuitry used for rechargeable batteries. With an increase in demand and production, the flexible printed circuit board market PCBs have many advantages like enhancing performance and flexibility, increasing the market size and growth.


Restraints


  • If incase in FPCB market the components so used if costs high thus hindering the growth of FPCB market. Its circuit layout and the printed circuit board design should be less expensive if you want to promote the growth of the market.


VALUE CHAIN ANALYSIS


By the supply chain, from the printed circuit board manufacturers through the intermediaries better understanding of manufacturing and production process was understood better. The supply chain determines the importance of various stakeholders who contribute a major role in elaborating the growth of the market. The supply chain also helps in analyzing the influence of various suppliers and buyers on the FPCB market.


SEGMENT OVERVIEW


By Type


  • the flexible printed circuit board market is split up based on type, end-user, and geography. Based on product type, the flexible printed circuit board market is bifurcated into a single-sided flexible circuit board, double-sided flexible printed circuit board, multilayer flexible printed circuit board, and rigid-flex flexible printed circuit board, and many more. Based on end-user, the market is categorized into consumer electronics, automotive electronics, industrial flexible printed circuit connectors, and many more. Based on flexible printed circuit board market analysis, the flexible circuit board market based on geographical region is classified in the regions of North America, Europe, Asia-Pacific, and LAMEA. It is noted that the region of Asia Pacific covered a large area and the largest share of flexible printed circuit board market thus owing to the increase in demand for semiconductors and other portable devices.


By Technology


  • Printed circuit board manufacturers take the help of technology to produce modernized flexible printed circuit board connectors and other electronic components. With the help of innovative technology, flexible circuit boards were discovered which was highly advantageous for the market. Such benefits include correcting the wiring errors, rectifying the complexity of the circuit, operating temperature, and weight. The developing fabricating technology helped in monitoring health and the growth of navigation displays was marked. Growth in the telecom and IT sector was marked. Along with the rising demand for high-speed data processing is increasing the need for flexible benefits. Technological advancement was also marked in electrical connectivity. Technology showed positivity and brought a revolution in the printed circuit board (PCB) market. Technology is also used in various application fields like camcorders, heart monitors, and pacemakers. Modernization of flexible printed circuit board materials was marked.


REGIONAL ANALYSIS


FPCB market sheds light on the regions of North America, Germany, France, United Kingdom, Russia, and China. The Asia Pacific region shows steady growth from 2019. People in this area are adopting the latest technology and using their investment in designing flexible printed circuit boards. China, India, and Japan are some of the countries where the rise in demand for printed circuit boards is high. The growth also took place in the region of the Middle East, Europe, Africa, Europe, and some other geographical regions.


COMPETITIVE LANDSCAPE


The key players have adopted the partnership and have started merging with other players to expand their customer base and increase their flexible printed circuit board market share. It provides comprehensive competitive analysis and company profiles of major market players like Nippon Mektron ltd, Interflex Co Ltd, Sumitomo Electric Industries Ltd, Career technology, Fujikura Ltd, Nitto Denko Corporation, Career technology, Multi-Fineline Electronix, ICHIA Technologies Inc, Flexium Interconnect Inc., Zhen Ding technology holding ltd, are operating in the printed circuit board(PCB) market. The report gives a good analysis of the FCBs market and evaluates the investment pockets. It gives good analysis about the market trends and gives good future estimations which gives good determinations about the market potential and which helps in gaining profit. A company dealing with electrical solutions has worked for years for discovering such components which will help in developing rigid-flex in the cognitive systems. This helps in detecting the response of the human brain towards stimuli.


REPORT OVERVIEW


The report provides an in-depth analysis of the market overview of the flexible printed circuit market board. It also gives information about the printed circuit board manufacturers and assists the market players to give high priority to the market segmentation which gives high returns during the upcoming years. It gives information about the printed circuit board manufacturers focusing on the manufacturing of innovative products. It provides detailed information about the drivers, restraints, challenges, and opportunities prevailing in the market. The report summarizes the market trends and the strategic plans put forward by various stakeholders.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 27,900 Million
  CAGR   12.6%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application Area
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Nitto Denko Corporation, Zhen Ding Tech, bhflex Co. Ltd., Interflex Co. Ltd., Career Technologies, MFS Technology, Flexible Circuit, Daeduck GDS Co. Ltd., Sumitomo Electric Industries Ltd. and Fujikura Ltd
  Key Market Opportunities   Integration of flexible-circuit laminates and thermal performance in electronic devices.
  Key Market Drivers

  • Increasing Demand for Compact and Flexible Electronic Products.
  • Increased System Reliability.


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    Frequently Asked Questions (FAQ) :


    It is projected that the Global Flexible Printed Circuit Board Market will exhibit a strong CAGR of 12.6% from 2018 to 2023. The report covers some of the most important elements of the market. Market dynamics such as growth opportunities, trends and challenges are thoroughly discussed in the report.

    Flexible Printed Circuit Board Market Size to Expand at a Notable CAGR Of 12.6% During 2018 - 2023. Global Flexible Printed Circuit Board Market is likely to surpass a valuation of USD 27,900 Mn by the year 2023.

    Flexible electronics are increasingly being used in industrial applications such as glucose meter testing in the healthcare sector and navigation and cameras in the automotive industry.

    The segmental analysis of the global flexible printed circuit board market is conducted on the basis of type, application area, and region.

    Growing trend of miniaturization in electronic components is driving the adoption of flexible printed circuit boards. The global flexible printed circuit board market is expected to exhibit a CAGR of 12.6% during the forecast period (2018-2023). Flexible printed circuit board is an innovative electrical technology, witnessing a fast adoption in electronics application across healthcare, automotive, and fitness.


    Flexible printed circuit board is also referred to flex circuit, flexible PCBs and flexible circuits. They are a systematic arrangement used for rigid printed components and circuitry which operate with or without a flexible cover and base material. The board is assembled and fabricated with components which allows a certain degree of flexibility. Such boards facilitate a connectivity and mechanical support to modern electrical components, pads, track among others.


    Increased demand for white goods worldwide is having a positive impact on the global flexible printed circuit board market. Flexible displays are next-generation electronic displays, fabricated on a thin flexible circuit board or substrate. Flexible electronics are increasingly being used in industrial applications such as glucose meter testing in the healthcare sector and navigation and cameras in the automotive industry. The growing need for thermal performance, flexible-circuit laminates, and surface-mounted electronic components in consumer electronics opening new growth avenues for the market.


    Segmental Analysis


    The segmental analysis of the global flexible printed circuit board market is conducted on the basis of type, application area, and region.


    Based on type, the market has been segmented into multilayer flex, rigid flex, double-sided flex, and single-sided flex. The multilayer flex segment currently accounts for more than 37% share of the market. In 2017, the segment was valued at over USD 5,233.87 Mn and is expected to surpass a valuation of USD 10,000 Mn by 2023, reflecting an impressive growth rate. Multi-layer flex circuits offer great circuit density owing to their complex design. A multilayer flex circuit comprises bonded conductive layers that are interconnected through plated holes.  Multi-layer flex circuits are widely used in aerospace & defense applications.


    On the basis of application area, the market has been segmented into consumer electronics, manufacturing, aerospace & defense, medical devices, automotive, wearables, and others. The consumer electronics segment is expected to remain highly profitable throughout the assessment period. In 2017, the segmented was valued at USD 5,345.03 Mn. Smartphones, laptops, tablets, television sets, and printers have flexible printed circuit boards as a major component. Introduction of flexible displays in modern electronic devices is creating lucrative opportunities for flexible printed circuit board. The manufacturing segment accounts for the second-largest market share and likely to exhibit a CAGR of 11.7% during the assessment period.


    Regional Outlook


    The regions included in the study are North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific leads the global flexible printed circuit board market. In 2017, Asia-Pacific accounted for 52.7% market share. The market in the region is currently valued at more than USD 7,400 Mn and is expected to surge at a CAGR of 12.2% during the assessment period. Presence of leading material substrate manufacturing companies in China, Japan, and Taiwan gives an edge to the APAC flexible printed circuit board market. Moreover, cost benefits along with the rapid growth of the consumer electronics manufacturing industry is having a positive impact on the market in APAC. North America accounts for the second largest share of the market in terms of value. In 2017, the North America flexible printed circuit board market stood at a valuation of USD 3,316.51 Mn and is projected to witness a CAGR of 14.0% between 2018 and 2023.


    Competition Tracking


    Some of the prominent companies operating in the global flexible printed circuit board market include bhflex Co. Ltd., Career Technologies, Flexible Circuit, Sumitomo Electric Industries Ltd., Fujikura Ltd., Daeduck GDS Co. Ltd., MFS Technology., Interflex Co. Ltd., Zhen Ding Tech and Nitto Denko Corporation.

    Competitive Landscape


    The global flexible printed circuit board (FPCB) market is highly competitive with presence of several vendors offering comprehensive FPCB products, such as single side FPCB, double side FPCB, multi-layer FPCB, build-up FPCB, and others. The increasing demand for consumer electronics as well as miniaturization of electronic components, and growing adoption of flexible display technology are some of the factors expected to boost the growth of the global flexible printed circuit board market. Moreover, widening application scope of IoT is likely to impact the global flexible printed circuit board market. However, high manufacturing cost of flexible printed circuit boards is expected to hinder the growth of the global market during the forecast period.


    According to MRFR analysis, the growth of the global flexible printed circuit board market is dependent on the market conditions and industrial developments. The key vendors in the global flexible printed circuit board market are bhflex Co. Ltd. (Vietnam), Career Technologies (Taiwan), Flexible Circuit (US), Sumitomo Electric Industries, Ltd. (Japan), Fujikura Ltd. (Japan), Daeduck GDS Co., Ltd., (South Korea), MFS Technology (China), Interflex co., ltd. (South Korea), Zhen Ding Tech (Taiwan), and NITTO DENKO CORPORATION (Japan).


    These companies are focusing on enhancing the product portfolio with improved technologies to deliver advanced products to various industries. Moreover, these companies are the prominent providers of flexible printed circuit boards and are competing in the global market to provide high-quality flexible printed circuit boards to increase their geographic presence and enhance the customer and company engagement.


    These companies follow organic as well as inorganic growth approach through product development, strategic partnerships, and collaborations to offer advanced flexible printed circuit boards. The competition in the global market is likely to intensify further due to growing new product launches, technological advancements, and mergers & acquisitions.


    Sumitomo Electric Industries, Ltd offers electrical wires, communication wires, and cables. The company operates through the following business segments—automotive, infocommunications, electronics, industrial materials, environment and energy, and others. The company’s flexible printed circuits boards (FPCBs) comprise FPC for high-density component mounting, flip chip mounting FPC, thin and highly flexible, high-density multi-layer FPC, component-mounted FPC, FPC insulated with liquid polyimide, and non-halogen highly flexible PCBs. The company follows the organic growth strategy and believes in expanding its product portfolio according to the demand. It has strong presence in multiple markets, which gives competitive advantage to its peers. The company focuses on building strong corporate relationships by partnering with tech giants. Furthermore, with capability upscaling the company is expanding its footprint in the global market.


    NITTO DENKO CORPORATION offers various products for industrial areas such as transportation, infrastructure, home appliances and electrical industries, electronic devices, packaging products, medical, and others. The company’s electronic device segment comprises flexible printed circuit boards. The flexible printed circuit boards consist of several products such as high-density and precision flexible printed circuit, environmental harmony type halogen-free FPC, ultra-thin double-sided FPC, and thin-film metal base board CISFLEX. The company follows an organic strategy as it believes in product innovation with research and development as a solution to improve the quality of its products to meet the customer requirements and strengthen its position in the global market.


    Fujikura Ltd. is a manufacturer of electric cables and wires. The company operates through various business segments, namely energy business, automotive products, telecommunication business, electronic business, real estate business, and others. The company’s FPCs consist of four products—assembled FPC, multi-layer FPC, double-sided FPC, and single-sided FPC. The company follows both organic and inorganic growth strategies. By organic strategy, the company is working towards increasing its market presence. The company believes in continuous re-invention and transformation of the product by increasing investment in innovation, talent and international expansion rather than limiting the focus only on operational efficiency and short-term profitability.


    Zhen Ding Tech is engaged in the manufacturing and processing of various printed circuit boards and offers it to industries such as automotive, medical, aerospace, military, consumer electronics, and others. The company offers various flexible printed circuit board (FPCB) products including high-density interconnection (HDI), flexible printed circuit, a rigid printed circuit board (R-PCB), and IC substrate (ICs). The company follows the organic strategy with an aim to expand its market base across the world with continuous product innovation. With high investment in research and development, the company is working to diversify its product portfolio in order to expand its presence and gain maximum share in the global market.


    Career Technologies is in the provision of manufacturing, research and development, design, processing, and trading of flexible PCBs. The company delivers various products such as single-sided flex circuits, double-sided flex circuits, air gap structure, rigid-flex board, double access flex circuits, and multilayer flex circuits. The company aims to expand its product portfolio with respect to the market demand through strategic partnerships and collaborations.