Flexible PCB market to touch USD26.8 bn by 2025
03 March 2021: 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. As such the global flexible Printed Circuit Boards (PCB) market size is expected to touch USD 26.8 billion by the end of 2025, and is projected to grow at the CAGR of over 11.2% during the forecasted period, 2019 to 2025, according to the new study by Million Insights.
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.
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. Based on end-use, automotive sector is estimated to grow at a fastest CAGR over the forecasted period.
Flexible-printed type circuit boards are lighter in weight and thin in size when compared with other circuit boards. Additionally, various factors like cost and durability are increasing the adoption of flexible PCBs. In the automotive sector, growing demand for innovative navigation displays, miniatures are proliferating the utility of flexible PCBs. These PCBs are widely used in health monitoring and medical equipment which include modulation devices, neuro-stimulation, pacemakers and defibrillators.
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.
www.millioninsights.com
