The global flexible printed circuit board market share is prognosticated to reach a valuation of US$ 55.0 Bn by 2031, states assessment by Transparency Market Research (TMR). Furthermore, the TMR report highlights that the market is estimated to grow at a CAGR of 10.3% during the forecast period, from 2021 to 2031.
The global flexible printed circuit board market outlook provides in-depth analysis of major factors impacting the market growth. Hence, this study covers thorough assessment on the growth drivers, growth restraints, R&Ds, regional analysis, competition landscape, and recent developments in the flexible printed circuit board market. This aside, it sheds light on the flexible printed circuit board market trends.
Rigid-flex FPCBs, multi-layer FPCBs, double-sided FPCBs, and single-sided FPCBs are some of the key types of flexible printed circuit boards available in the market. These products find application in a wide range of end-use industries such as the consumer electronics, energy and power, telecommunication, aerospace, defense, and automotive industry. Due to this wide consumer base, players in the flexible printed circuit board market are anticipated to gain profitable opportunities in the forthcoming years, notes a TMR study.
Flexible printed circuit boards are being manufactured using materials that are lightweight as well as cost-efficient, according to analysts of a TMR study on the flexible printed circuit board market. The use of flexible printed circuit board material helps in reducing costs and offering the flexible printed circuit board industry with sufficient interconnection options. Moreover, the flexible printed circuit boards are gaining traction as a prominent option for conventional wiring techniques owing to their dependable nature, notes a TMR study on the flexible printed circuit board market.
Different consumer goods including mobile phones are being increasingly used by people across the globe. This factor is boosting the production of such products, which in turn, is creating profitable prospects for flexible circuit board manufacturers, notes a TMR study on the flexible printed circuit board market. Furthermore, the improving spending power of major population is fueling the sales growth in the consumer goods, which in turn, is driving the demand opportunities in the flexible printed circuit board market.
Mergers, Acquisitions, and R&Ds: Key Strategies of Players for Business Expansion in Flexible Printed Circuit Board Market
Some of the leading players in the flexible printed circuit board market include Zhen Ding Tech. Group Technology Holding Limited, AT&S, Cicor Management AG., Benchmark Electronics, TTM Technologies, Eltek Ltd., Career Technology (Mfg.) Co., Ltd., IEC Electronics, Flex Ltd, Flexcom Inc., Daeduck GDS., Multi-Fineline Electronix, Inc. (MFLEX), and Fujikura Ltd.
The presence of many companies makes the competition levels in the flexible printed circuit board market highly intense. Hence, the market players are executing organic as well as inorganic strategies in order to stay ahead of the competition. Several enterprises in the flexible printed circuit board market are investing heavily in R&Ds in order to develop technologically advanced products. Moreover, players are increasing participation in mergers, acquisitions, and product portfolio expansions. Such factors are resulting into promising growth of the flexible printed circuit board market, state analysts at TMR.
Players Gain Profitable Prospects in Asia Pacific Flexible Printed Circuit Board Market
South America, North America, Asia Pacific, Middle East & Africa, and Europe are some of the key regions of the flexible printed circuit board market. Among all, Asia Pacific is one of the dominant regions in the market. The growth of the Asia Pacific market is ascribed to many factors including a rise in the incorporation of vehicle safety features and ADAS in automotive together with surge in the demand for telecommunication products and consumer electronic devices in the region.