Flexible Printed Circuit Board Market Segmentation By Product Type (Single-Sided, Double-Sided, Multilayer and Rigid Flex Circuits); By Application (Automotive, Instrumentation, Medical Devices, Defense and Aerospace, Consumer Electronics and Others) – Global Demand Analysis & Opportunity Outlook 2027
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Growing Demand for Compact and Flexible Electronic Products
Multiple systems in a rigid board occupy more space and add more weight. Flex circuits are made from thin dielectric substrate and high ductility metal foil which makes them compact and flexible in nature to meet the requirement for smaller and higher density mounting design. Thus, miniaturization and pliability of the flex circuits over conventional rigid boards are some of the significant characteristics that are anticipated to foster the growth of the market.
Increased System Reliability
Most circuit failures occur at interconnection point. Flex circuits reduce the interconnection points, thereby making it more reliable to use. They also reduce the total cost involved in complex wiring and provide interconnectivity solutions. Additionally, flex circuits can only fit in one way, therefore, they eliminate wire routing errors that result in saving testing time.
Restraints
The initial cost of circuit layout and design for flexible printed circuit boards is higher as compared to rigid PCBs that are less expensive. This factor might hamper the growth of the market over the forecast period.
The market is showing a significant growth on account of requirement for complex electrical and mechanical interfaces. Additionally, properties, such as lightweight, simple structure, compact design and economical nature are estimated to propel the growth of the market. Moreover, reliability and flexibility when compared to conventional boards are also projected to positively impact the growth of the market. Furthermore, increase in demand and production of consumer electronics along with utilization of FPCBs for efficient interconnection between electronic components are also anticipated to foster the growth of the market.
The global flexible printed circuit board market is anticipated to record a CAGR of 11.9% over the forecast period i.e. 2019-2027. The market is segmented by product type into single-sided, double-sided, multilayer and rigid flex circuits, out of which, the multilayer flex circuit segment is anticipated to have leading shares in the global flexible printed circuit board market on account of its superior resilience and high efficiency. Based on application, the market is segmented into automotive, instrumentation, medical devices, defense and aerospace, consumer electronics, and others, out of which, the consumer electronics segment is expected to generate highest revenue during the forecast period owing to rise in demand for consumer electronics.
Our-in depth analysis of the global flexible printed circuit board market includes the following segments:
On the basis of regional analysis, the global flexible printed circuit board market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in Asia Pacific is anticipated to show a notable growth over the forecast period on the back of large-scale investments in flexible printed circuit board manufacturing technology in this region. China, India and Japan are expected to be the major countries in the Asia market for flexible printed circuit boards on the back of rising demand for electronic products in these countries.
The market in Asia Pacific is estimated to be followed by North America and Europe on the back of growing demand for wireless devices and requirement for more efficient interconnections and flexible circuits.
The global flexible printed circuit board market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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