Flexible Printed Circuit Boards Market Analysis Report By Type, By End Use, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global flexible printed circuit boards market size was accounted for USD 12.9 billion in 2018. It is anticipated to grow at a CAGR of 11.2% over the forecasted period, 2019 to 2025. Growing demand for flexible and compact electronic devices is primarily driving the market growth. Advancement in technology and efficient interconnectivity provided by these PCBs are boosting market growth. In addition, the rising demand for advanced electronics in the automotive industry is also supporting the market growth.

Flexible circuits are lighter in weight and they reduce the wiring along with simplifying assembly design. Miniaturization and the increasing trend of green PCBs are contributing to market growth. Additionally, features like better quality performance and packaging flexibility are expected to positively impact market growth.

Manufacturers in Europe and North America are facing stiff competition owing to the rising number of players across the emerging countries in the Asia Pacific, as they offer products at a lower cost.  Moreover, technological developments in foldable smartphones, and plastic solar cells are projected to bolster the demand for flexible PCBs.

These PCBs are widely used in complex circuit designs. It offers better interconnectivity and enhanced performance, electrical induction. Manufacturers are also investing in the development of efficient PCBs with the help of enhanced fabrication technology. For example, DuPont has introduced a copper cladding laminate called Pyralux AG for flexible fabrication.

Type Insights

Based on the type, the FPCB market is fragmented into double-sided circuits, and single-sided circuits, rigid-flex circuits, multilayer circuits, and others. The Multilayer PCB circuits segment is anticipated to grow at a CAGR of over 12.0% during the forecasted period. This growth is contributed to rising high-functioning, and industry-related applications. These PCBs are highly powerful and reliable.

In 2018, the double-sided circuits type segment accounted for a market share of over 45.0% in the overall market. These boards help in accessing circuit traces from the bottom & top of the circuit by improved flexibility. Additionally, these PCBs offer benefits in wiring errors and complexity issues with reduced weight. All these key factors are projected to foster market growth.

End-Use Insights

Flexible PCBs are widely used across industries such as aerospace & defense, automotive, consumer electronics, IT & telecom, and industrial electronics. The consumer electronics vertical is projected to register a CAGR of over 12.0% from 2019 to 2025. This growth is contributed to the increasing demand for innovative & flexible displays in PCs, smartphones, and tablets.

In 2018, the IT & telecom industry segment is accounted for over 15.0% share in the overall market. In addition, technological advancements including 5G and artificial intelligence are expected to proliferate the market growth in the next few years. Flexible circuits are highly preferred by the avionics industry for remote control devices as they come in lightweight & size.

Regional Insights

In 2018, the Asia Pacific led the flexible printed circuit board market with the highest market share of over 77.0% in the overall market.  Countries such as Japan, South Korea, Taiwan, and China produces over 80.0% of global PCB production. Semiconductor manufacturers invest a huge amount of money in PCB manufacturing technology. This factor is projected to bolster regional growth.

North America is projected to grow at a CAGR of more than 15.0% over the forecast period. This growth is contributed to the high demand for advanced electronics from the aerospace & military industry. Furthermore, increasing demand from automotive electronics in Europe is boosting the growth of flexible PCBs.

Impact of COVID-19

COVID-19 pandemic is expected to have a short-term and mid-term impact on the semiconductor and electronics industry which, in turn, is projected to impact the flexible PCBs market. Moreover, it has disrupted the supply chain of electronic manufacturers with shipment delays due to lockdown. Coronavirus situation is expected to hamper the growth of the consumer electronics sector and then followed with automotive & industrial sector.

Furthermore, the PCB manufacturers are now focusing on investing in IoT-enabled environments to mainly avoid physical contact. In the recent past, there has been a surge in the demand for medical devices and smart devices. However, owing to the COVID-19 outbreak, there is a slowdown in production especially in automobile OEMs, which is fluctuating the demand for electronic products significantly.

Flexible Printed Circuit Boards Market Share Insights

The development in miniaturization is encouraging manufacturers to produce high-performance PCBs. Leading players in the market include TTM Technologies, AT&S, Eltek Ltd, Cicor Management, Benchmark Electronics, Flex Ltd, and IEC Electronics.

The companies in the market focus on strategic mergers & acquisitions, investment, collaborations, and partnerships to increase their presence across the world. For example, in 2017, TTM Technologies have acquired Anaren, Inc. to strengthen their PCB manufacturing capabilities.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global flexible printed circuit board market report based on type, end-use, and region:

• Type Outlook (Revenue, USD Billion, 2015 - 2025)
    • Single-Sided Circuits
    • Double Sided Circuits
    • Multilayer Circuits
    • Rigid-Flex Circuits
    • Others

• End-Use Outlook (Revenue, USD Billion, 2015 - 2025)
    • Industrial Electronics
    • Aerospace & Defense
    • IT & Telecom
    • Automotive
    • Consumer Electronics
    • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • Italy
        • France
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • Latin America
    • Middle East & Africa (MEA)