According to a new market research report published by Acute Market Reports, “Flexible Printed Circuit Boards Market (By Type (Single Sided FPCB, Double Sided FPCB, Multi-layer FPCB, Rigid-flex FPCB, and Others), By Industry Verticals (Aerospace & Defense, Consumer Electronics, Telecommunication, Automotive, Healthcare, and Others), By Geography (North America, Europe, Asia Pacific, and Rest of the World)) – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global flexible printed circuit boards market was valued at US$ 16.56 Bn in the year 2018 and expected to reach US$ 41.04 Bn by year 2027, expanding at a CAGR of 10.6% during the forecast from 2019 to 2027.
The increase in demand for miniaturized electronic and industrial products favors the growth of Flexible Printed Circuit Boards (FPCBs). FPCBs offer great versatility to engineers when developing low-cost, high-quality and lightweight miniaturized products. They are also preferred in heat sensitive electronics and products as they are better able to counteract thermal stress compared to rigid PCBs. Its various advantages have led to the adoption of versatile circuits in a wide range of fields, such as consumer electronics, automotive, medical and many other sectors. In addition, growing penetration of connected and mobile devices is also expected to fuel demand for flexible circuits in the coming years. Ericsson recently estimated that the total number of connected devices is projected to be 29 billion by 2022, with a CAGR of almost 20%.
By form, Multi-layer FPCB dominated the global market for flexible printed circuit boards in 2018. On the contrary, the rigid-flex FPCB displays the fastest growth of nearly 12 per cent during the forecast period. Due to its large application in smart and connected technologies, the growth of the rigid-flex FPCB is thriving. Consumer electronics manufacturers are investing heavily in technology to develop next-generation products. For example, Apple invested tens of millions of dollars in rigid-flex PCBs for its upcoming OLED iPhone 8 in July 2017. The new PCB has helped attach chips to every aspect of the smartphone, such as the display screen and the camera.
Geographically, a global flexible PCB market study is examined for North America, Europe, Asia Pacific and the rest of the world. Asia Pacific is the world’s leading versatile PCB market and is projected to have the highest growth over the study era. Sharp growth in consumer electronics was one of the key factors for Asia-Pacific to have a splendid share of the global market. China, Japan, Korea and Taiwan are the main centers of production in the Asian region.
Due to the presence of a large number of players, the global flexible PCB market is highly fragmented and competitive. The players are largely focused on innovation and development and therefore invest heavily in the R&D sector. Recently, Cicor, a European PCB maker, has invested in MKS Instruments Inc.’s new ESI UV laser drilling technology. In addition, the firms implemented a merger and acquisition policy to maintain a strong presence on the market. For example, in June 2017, Compunetics Inc. announced the acquisition of Circuits LLC, a versatile manufacturer of PCBs in the USA.
Some of the leading competitors profiled in the global flexible PCBs market report includes NOK Corporation (Nippon Mektron Ltd.), Flexcom Inc., Fujikura Ltd., Sumitomo Electric Industries Ltd. (SEI), Zhen Ding Technology Holding Limited (ZDT), Multi-Fineline Electronix Inc., 3M Company, FLEXium Interconnect Inc., Career Technology, Interflex Co. Ltd., and ICHIA Technologies Inc. among others.