According to a new research report by Transparency Market Research (TMR), there is an intense competition among the major leading players operating in the global flexible printed circuit board (FPCB) market, including Career Technology (Mfg.) Co. Ltd., Flexcom Inc., Daeduck GDS., Fujikura Ltd., Sumitomo Electric Industries Ltd., Multi-Fineline Electronix Inc. (MFLEX), Interflex Co. Ltd, Nitto Denko Corp., NewFlex Technology Co. Ltd., and NOK Corp. These players are expected to witness continued rivalry amongst themselves over the next few years, thanks to their increasing involvement into strategic partnerships and mergers and acquisitions, notes the market study.
As per the research report, the global market for flexible printed circuit boards, which was worth US$14.51 bn in 2017, anticipated to expand at a CAGR of 11.80% over the period from 2018 to 2026 and reach a value of US$38.27 bn by the end of the period of the forecast. Among the products available in this market, multi-layer flex circuits enjoy a greater demand and this trend is projected to remain so over the next few years.
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The instrumentation and medical, computer and data storage, telecommunication, defense and aerospace, consumer electronics, automotive, and the industrial electronics sectors have emerged as the leading end users of flexible printed circuit boards across the world. Geographically, Asia Pacific has been dominating the global market over the last few years and researchers anticipate this scenario to continue in the near future, states the research report.
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Rise in Consumer Electronics Industry to Boost Global Flexible Printed Circuit Boards Market
“The significant rise in the consumer electronics industry, led by the growing demand for smartphones, tablets, and LCD displays, in has been influencing the sales of flexible printed circuit boards substantially, says the author of this study. These boards find noticeable application in mechanically supporting and electronically connecting a number of electronic components with the help of conductive pathways, which, in turn, is reflecting on their demand substantially. The increasing awareness among consumers regarding the advantages of these boards, such as compact design and low weight, in comparison with rigid or conventional PCBs is likely to boost the growth of the global flexible printed circuit boards market in the years to come, reports the research study.
Sluggish Uptake of Technology in Emerging Economies to Hinder Growth
On the other hand, the sluggish uptake of technology in emerging economies may hinder the growth of the worldwide flexible printing circuit board market in the years to come. However, the rising demand for these boards in the aviation and the defense industries is expected to create new growth avenue for players operating in this market over the next few years, states the research report.