Global Flexible Printed Circuit Board Market Analysis and Forecast (2023-2031): Size, Growth, Share, Trends, and Insights

Posted on 2024-03-13 by Transparency Market Research in Industrial, Technology // 0 Comments

Wilmington, United States, 2024-Mar-013 — /EPR Network/ — The Global Flexible Printed Circuit Board (FPCB) Market has witnessed substantial growth over the years, driven by various factors such as the rise in demand for automotive electronics, surge in adoption of consumer electronic devices, and advancements in manufacturing technologies. According to recent data, the market was valued at US$ 21.5 billion in 2022 and is expected to reach US$ 37.9 billion by 2031, advancing at a CAGR of 12.5% during the forecast period from 2023 to 2031.

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Market Drivers

One of the primary drivers fueling the growth of the flexible printed circuit board market is the increasing demand for automotive electronics. Electronic systems play a crucial role in modern vehicles, supporting functions related to safety, information, entertainment, and e-mobility. Flexible circuitry technology helps address assembly errors and complexities in these systems, driving its adoption in the automotive sector.

Moreover, the surge in adoption of consumer electronics worldwide, including smartphones, tablets, wearables, and IoT devices, is further propelling the demand for flexible printed circuit boards. These boards offer advantages such as flexibility, compactness, and high-density electrical connections, making them suitable for various consumer electronic applications.

Market Trends

The flexible printed circuit board market is witnessing several trends that are shaping its landscape. These include the development of green PCBs, miniaturization of PCBs, and the introduction of cutting-edge flexible circuit boards for wearables. Manufacturers are investing significantly in research and development to innovate and meet the evolving demands of industries such as aerospace, telecommunications, and energy & power.

Regional Outlook

Asia Pacific currently dominates the global flexible printed circuit board market, driven by the increasing integration of electronics in automobiles and the growing penetration of consumer electronics in the region. North America is also expected to witness steady growth during the forecast period, fueled by rising demand for foldable circuit boards in sectors like aerospace and automobiles.

Key Players

Prominent players in the flexible printed circuit board market include AT&S, Zhen Ding Tech. Group Technology Holding Limited, Benchmark Electronics, Cicor Management AG., Eltek Ltd., TTM Technologies, and Flex Ltd., among others. These companies are focusing on developing highly-dense and high-speed flexible PCBs, expanding their product portfolios, and establishing partnerships to enhance their market presence.

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