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FPCBs are widely used across applications such as LCD display, mobile screen, connectivity antennas, and flexible circuitry used in rechargeable batteries. Growth in demand for consumer electronic goods, increase in popularity of Internet of Things (IoT), and adoption of FPCBs in automotive applications drive the market growth.
Moreover, increase in demand for automated robots is expected to provide lucrative opportunities to market players. Multilayer FPCBs led the FPCBs market, and is expected to maintain this trend throughout the forecast period. However, the rigid-flex FPCBs segment is expected to witness significant growth in the future, owing to the compact size and low power consumption.
The global market is expected to garner $27 billion by 2022,growing at a CAGR of 10.4% from 2016-2022.
Asia-Pacific dominated the global market, in terms of revenue, accounting for more than 46% in 2015, followed by North America.
Among end user, consumer electronics dominated the global market in 2015, accounting for about 30% share. However, automotive electronics is expected to grow at the highest CAGR of 10.7%, owing to increase in demand for durable devices with enhanced efficiency.
Asia-Pacific was the major revenue contributor in 2015, and is expected to maintain its dominance in the future, owing to increase in number of electronic applications. Moreover, developments in consumer electronics and industrial systems are expected to boost the FPCBs market growth, especially in the Asian countries, such as China, Japan, Oceania, and India.
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LAMEA is projected to grow at the highest CAGR during the analysis period, owing to increase in portable appliances and rise in the adoption of FPCBs in automotive applications. Moreover, technological advancements to overcome power loss issues in extreme conditions are projected to offer lucrative opportunities for market players in the near future.
The key players operating in the FPCB market have adopted new product launch as their preferred strategy to expand their market foothold. The major players profiled in this report include NOK Corporation (Nippon Mektron Ltd.), Sumitomo Electric Industries, Ltd. (SEI), Fujikura Ltd., Multi-Fineline Electronix, Inc., Zhen Ding Technology Holding Limited (ZDT), Nitto Denko Corp., Interflex Co., Ltd., Career Technology, FLEXium Interconnect, Inc., and ICHIA Technologies Inc.