Global Flexible Printed Circuit Board (FPCB) Market is expected to reach $33 billion by 2024 from $15 billion in 2016, growing at a CAGR of 10.6% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 11.5% and 10.2%, respectively, during the forecast period.
Increasing demand for flexible and compact devices with coupled with growing popularity for wearable devices are the major factors supporting the growth of the market. Furthermore, expanding performance requirements is also fueling the market. Moreover, expanding performance requirement by end-users, and technological advancements are also anticipated to fuel the market. However, lack of trained personnel to operate and high initial costs would restraints the growth of the FPCB market. Additionally, growing applications in the automotive sector, healthcare, and automated robots would provide several growth opportunities in the upcoming years.
The global flexible printed circuit board market is categorised into type, applications, and geography. By type, the FPCB market is segregated into double sided flex circuits, single sided flex circuits, rigid flex circuits, multi-layer flex circuits, and others. Multi-layered flex circuits accounted for the largest market share in 2016, however rigid flex circuits dominated the segment with fastest CAGR during the forecast period 2016-2024. Moreover, application segment comprises consumer electronics, instrumentations & medical, automotive, industrial electronics, computers & data storage, telecommunications, defence & aerospace, and others. Instrumentations & medical and consumer electronics dominated the applications segment with highest market share in 2016.
Geographically, the FPCB market is segregated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia Pacific accounted for the largest market share in 2016 and is expected to grow at fastest CAGR during the forecast period 2016-2024, driven by the increased penetration of smart devices, high adoption of sensors, industrialisation, and presence of numerous semiconductor manufacturers. North America accounted for the second largest market share in 2016, owing to emerging trends of polymer solar cells and disposable electronics.
The major key players operating in the market are Nippon Mektron, Ltd., 3M Company, Interflex Co., Ltd., LG Innotek, Flexible Circuit Technologies, Inc., Sumitomo Electric Industries, Ltd., Fujikura Ltd., Zhen Ding Technology Holding Limited, Nitto Denko Corp., MFS Technology Ltd, among others.
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