Flexible Printed Circuit Boards Market Forecast to Reach $26.8 Billion by 2025
Consumer electronics end-use segment is contributed to largest market share in 2018. This segment is anticipated to grow at the highest CAGR from 2019 to 2025
The global flexible printed circuit boards market size is estimated to be $26.8 billion, by the end of 2025. It is projected to grow at the CAGR of over 11.2 per cent during the forecasted period, 2019 to 2025, according to the new report by Million Insights.
“Increasing demand for the compact electronic devices is mainly boosting the growth of flexible printed circuit boards (PCB). In addition, rising demand in the telecom and IT sector along with the high demand for high-speed data processing is pushing the need for flexible circuits,” read the report.
Used in health monitoring and medical equipment
These PCBs, as per the report, are widely used in health monitoring and medical equipment which include modulation devices, neuro-stimulation, pacemakers, and defibrillators. Flexible PCBs provide various benefits including enhanced performance and packaging flexibility which are expected to positively impact the market growth.
Manufacturers in the market continuously focus on developing fabrication technology to produce improved PCBs. Various companies provide dedicated/tailored flexible circuit boards according to specification framed by original equipment manufacturers.
The flexible printed circuit board market is witnessing significant growth due to rising awareness among OEMs about these PCBs. This includes benefits provided by PCBs such as wiring errors, circuit complexity, operating temperature, and weight.
Consumer electronics end-use segment is contributed to largest market share in 2018. This segment is anticipated to grow at the highest CAGR from 2019 to 2025, due to the increasing demand of electronics devices such as smartphones, laptops, and others. In 2018, double-sided circuits type segment led the market with highest share of around 45.0% in the overall market. This growth is mainly due to increased efficiency provided by PCBs.
Based on end-use, automotive sector is estimated to grow at a fastest CAGR over the forecasted period. Asia Pacific region is projected to lead the FPCB market by 2025, due to the growing manufacturing industries development across the countries like Japan, South Korea, and China.