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In a new study, Transparency Market Research (TMR) outlines the competition in the global flexible printed circuit board market in the years ahead. The market has many players but is being currently dominated by six prominent players namely Fujikura Ltd., Flexcom Inc., Interflex Co. Ltd., Multi-Fineline Electronix, Sumitomo Electric Industries, and NOK Corp. All these companies collectively accounted for a share of almost 60% in 2016 in the global market. In order to have a stable position in the market, these vendors are focusing on advancing their current product portfolio through innovation in their product.
As per a TMR analyst, “The global flexible printed circuit boards market is expected to witness an 11.0% CAGR between 2017 and 2025. In 2016, the market was worth $13.51 billion and by the end of the forecast period it is expected to be $33.39 billion.
Multi-layer Flex to Stay in High Demand
On the basis of product, the global market for flexile printed circuit boards has been segmented into rigid flex circuits, multi-layer flex circuits, double-sided flex circuits, and single-sided flex circuits. Other than this, other prominent types include double access flexible circuits, single layered flexible circuits, and sculpted flex circuits. Based on revenue, the segment that led the global flexible printed circuit boards market in 2016 is the segment of multi-layer flex circuits and is likely to remain the same in the coming years. On the other hand, the segment of rigid flex circuits is anticipated to present promising and fruitful growth opportunities for the companies present in the market. The growing sale of portable electronics in countries such as Singapore, Germany, the U.S., the U.K., Japan, India, and China is expected to further benefit this segment in the coming years.
Region-wise, the market has been segmented into Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa. Out of these, Asia Pacific led the market in 2016 with a leading share of 56% in the same year and it has been projected that it will continue leading the market in the years ahead. The growing diffusion of smart devices, rapid development of engineering infrastructure that provisions addition of procedure automation, intensifying acceptance of sensors in automobiles, and mounting funds in communication technologies are pouring gold for the Asia Pacific market for flexible printed circuit boards. Additionally, the increase in mass investments in flexible printed circuit board engineering technology is likely to benefit the region. Asia Pacific is an enormous pivot for semiconductor manufacturers. The market in Asia Pacific is expected to be closely trailed by North America.
Penetration of Smart Devices to be Benefitting Factor
The growing for smart devices among consumers across the globe is a benefitting factor for the global market for flexible printed circuit boards as they are crucial items employed in them. The market for flexible printed circuit board has multiplied significantly across the world in the last couple of years owing to the arrival of Internet of Things (IoT). The growing demand for tablets, smartphones, and laptops is taking a protuberant impact on the acceptance of flexible printed circuit boards, ensuing in the considerable growth of this particular market. The swelling diffusion of consumer electronics and the broadening application collection of these boards in the automotive business are likewise supportive to the progress of this market substantially.
The market is also expected to gain from the growing scope of submission of flexible printing circuit boards in the near future with regards to the technological up and about gradation in electronic and semiconductor products. Nonetheless, the vibrant nature of the electronics and semiconductor industry might hinder the growth of the market over the approaching years.