Flexible Printed Circuit Board Market to grow by USD 1.64 bn | Rising Adoption of Smartphones to Drive Growth | Technavio
NEW YORK, Dec. 7, 2021 /PRNewswire/ -- Some of the key vendors operating in the flexible printed circuit board market include Cicor Technologies Ltd. and Eltek Ltd. The market is expected to grow by USD 1.64 bn from 2021 to 2026. The growth momentum of the market will accelerate at a CAGR of 3.73% during this period.
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Flexible Printed Circuit Board Market: Driver
The rising adoption of smartphones is one of the key factors driving the growth of the flexible printed circuit board market. The adoption of smartphones is rising globally owing to the availability of low-cost smartphones and increased penetration of the Internet globally. Developing countries such as India and China are emerging markets for smartphones as a result of increased disposable incomes and high population.
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Flexible Printed Circuit Board Market: Segmentation Analysis
The flexible printed circuit board market has been segmented by end-user (consumer electronics, automotive, industrial, and others) and geography (APAC, North America, Europe, MEA, and South America).
By end-user, the consumer electronics segment will dominate the flexible printed circuit board market during the forecast period. Consumer electronics require compact, multi-functional, flexible, and low-cost PCBs. Flexible PCBs offer space savings, reliability, low mass, and high ductility.
By geography, APAC is expected to dominate the market, with a share of 89% during the forecast period, with China, Taiwan, and Japan being the key countries. The high concentration of consumer electronics manufacturers, such as display device manufacturers and OLED panel manufacturers, will drive the flexible printed circuit board market growth in APAC during the forecast period.
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