The flexible printed circuit board sector’s market value could reach $27 billion by 2022, a 10.4 percent compound annual growth rate over the six years from 2016 to 2022, according to Allied Market Research report.
The Asia-Pacific market has long dominated the industry, accounting for more than 46 percent in 2015, followed by North America, Allied notes.
Flexible PCBs are used in applications like LCD displays, mobile screens, connectivity antennae, and flexible circuitry.
Growth will be driven by stronger demand for consumer electronic goods, the boosted popularity of Internet of Things technology, and the adoption of flexible PCBs in automotive applications. An increase in demand for automated robots will also help the market, Allied says.
Looking to specific categories, multilayer FPCBs led the market last year and is expected to experience significant growth in the future, owing to the compact size and low power consumption.
Consumer electronics were the top end user in 2015, accounting for about 30 percent of market share. The automotive electronics segment is expected to grow at the highest CAGR at 10.7 percent.
“Flexible PCBs are highly efficient interconnectivity solutions used for a wide range of electronic devices with complex circuitry,” says Jeshin Jayamon, research analyst for semiconductor and electronics research at Allied.
“Moreover, they offer numerous benefits such as high efficiency and reduced system maintenance. Multilayer FPCBs represent almost 30 percent of the total demand for electronics applications and customer shift towards compact printing to achieve better efficiency are expected to fuel its adoption in the consumer electronics, automotive, and other industry sectors.”
Filed Under: Industrial automation