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Flexible printed circuit boards are widely used in an array of electronic devices that have complex circuitry. Besides efficient interconnectivity solutions, flexible PCBs offer another benefit besides reduced system maintenance. Compact in size, flexible PCBs also reduce the entire costs of interconnectivity solutions. Consistently growing preference for printed circuit boards over conventional wiring systems used in various electronic devices, will continue to foster the market for flexible PCBs over the next 10 years.
Key Market Dynamics
The demand for flexible printed circuit boards by manufacturers of smartphones, other mobile devices, LCD display, connectivity antennas, and rechargeable batteries, is currently on the rise. With exploding consumer electronics sector, soaring popularity of IoT, and growing applications in the automotive sector are identified to be the key factors that are likely to hold a positive impact on the sales of FPCBs in near future. Quality performance and high packaging flexibility of flexible PCBs will continue to make them highly preferred interconnectivity solutions in near future.
Surging adoption of multilayer FPCBs and increasing use of rigid-flex FPCBs are likely to be among the most prominent trends in the global flexible printed circuit boards market. The demand for automated robots is evidently increasing, indicating lucrative growth opportunities to emerge for key market players over the next decade. Innovation in fabrication technology and circuit materials is expected to push the market further.
Current Market Trends
Although consumer electronics has been the primary consumer for flexible PCBs over the years, consumption by automotive electronics sector is expected to gather significant momentum during the assessment period, fuelling the sales globally. Demand from aerospace and defence industry will also remain significant during the forecast period.
Increasing demand for small, flexible electronics will be an important trend in the market. Another trend expected to hold a positive influence on market, includes growing use of flex circuits in electronic wearables. Moreover, emerging interest in polymer plastic solar cells and foldable or rollable smartphones will create a plethora of opportunities for key market players in near future. An emerging trend of disposable electronics will also support market growth over the next few years. FPCB manufacturers are likely to encounter with a number of opportunities in healthcare sector.
However, high initial costs associated with flexible PCBs will remain a longstanding roadblock to rapid mass adoption of the technology.