Flexible Substrates Market to Reach $1104.6 Million by 2026
June 5, 2019 | Globe NewswireEstimated reading time: 3 minutes
According to the current analysis of Reports and Data, the global flexible substrates market was valued at $402.9 million in 2018 and is expected to reach $1104.6 million by year 2026, at a CAGR of 14.0%. The study covers in-depth analysis of flexible substrates and challenges faced by them. Flexible substrates are substance or fundamental layer. They are used in flexible electronics, (a technology of assembling electronic circuits), where the electronic devices are mounted on flexible substrates.
Flexible substrates are primarily used for exploration of photovoltaics. The global flexible substrates market is driven by rise in the increase of printed technologies, increasing demand for the organic light emitting diodes (OLED), increasing digitalization and penetration of consumer electronic products. Printed Electronics brings together the industries of microelectronics, electronics assembly and printing. This fast-growing technology makes it possible to print circuits, sensors, memory, batteries and displays, all onto thin, lightweight, flexible substrates. Continuous fluctuations in the prices of raw materials, high manufacturing costs are some of the major hindrance faced by the flexible substrates market.
Further Key Findings from the Report Suggest
- Increase in the consumer electronics industry as well as environmental friendliness of batteries are some of the key factors for the growth of flexible substrates market.
- Flexible substrates can be used in a number of industries for various kinds of purposes. Thus, is also one of the main reasons for the rise in the sales of flexible substrates.
- Lately, one of the most interesting areas in the flat panel display industry is the emergence of flexible displays. To enable a flexible flat panel display, flexible plastic substrates must be applied to replace conventional glass substrates. However, limitations of plastic materials in optoelectronic device applications are their permeability of oxygen and moisture. Thus, high performance gas barrier coating is indispensable on the surface of plastic substrates. The silicon based inorganic thin films deposited by plasma-enhanced chemical vapor deposition (PECVD) has been extensively used as gas barrier films.
- In order to attract a larger number of customers many companies are engaged in the launch of new products and acquisitions. For instance, Corning EAGLE XG Slim glass of 0.4 mm thickness in sizes up to Gen 8.5. It provides improved performance and greater reliability for curved TV panels. It also helps in producing thinner and lighter large -size displays. Other than this, Corning invested USD 1.3 billion in a Gen 10.5 glass substrates and Gen 8.5 glass substrates.
- North America is the largest revenue generating region global flexible substrates market with a CAGR 13.8%. It holds 42.7% of the total market share owing to its technological advancements in consumer electronics industry. The second highest share is held by European region (28.9%) in the flexible substrate market
- Asia Pacific region is the fastest growing region in the global flexible market which accounts for 20.6% of the total market share with a CAGR 15.1 owing to increasing demand from the consumer electronics and solar energy sectors in countries in this region. China market is expected to account for major share in terms of revenue in the Asia Pacific, whereas the India market is projected to register highest CAGR over the forecast period.
- The plastic segment in flexible substrates market is anticipated to grow at the highest CAGR (14.5%) and lead the market during the forecast period owing to its low cost involved in using technology for producing low-cost, flexible printed circuit boards, thereby enabling increased production of consumer electronics.
- The glass and metal segments hold 31.3% and 10.4% of the total market share respectively.
- Key players in the flexible substrates market include Schott, Teijin, Kolon industries, Nippon Electric Glass, American semiconductor, Heraeus, Corning.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Suggested Items
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Winner of The Science Show Rakett 69 Receives Incap Scholarship
04/24/2024 | IncapThe winner of the Rakett 69 science show, Andri Türkson, who stood out as an electronics enthusiast, received a scholarship from Incap Estonia, along with an internship opportunity in Saaremaa.
Alternative Manufacturing Inc. Awarded QML Requalification to IPC J-STD-001 and IPC-A-610
04/24/2024 | IPCIPC's Validation Services Program has awarded an IPC J-STD-001 and IPC-A-610 Qualified Manufacturers Listing (QML) requalification to Alternative Manufacturing Inc (AMI).
Boeing's Janene Stinson Earns IPC Excellence in Education Award at IPC APEX EXPO 2024
04/22/2024 | IPCThe IPC Excellence in Education award was presented to Janene Stinson, Boeing, at IPC APEX EXPO 2024 in Anaheim, California, in recognition of her significant contributions to workforce development and leadership.
Zentech’s Board of Directors Announces the Return of Matt Turpin as President and CEO
04/22/2024 | Zentech ManufacturingTurpin draws upon over 35 years of experience in the electronics industry and has an 18-year history with Zentech. He previously served as President and CEO from 2006 to 2019 after which time he has remained active in the EMS industry as an advisor to Zentech and other industry organizations.