Summary
A New Market Study, titled “Flexible Printed Circuit Board Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
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Market Synopsis
The flexible printed circuit board is projected to exhibit a CAGR of 12.6% during the forecast period from 2018 to 2023. As per the analysis, the growing demand for consumer electronics is anticipated to be the most crucial factor driving the global flexible printed circuit market 2020. The growing investment in miniaturization of electronic equipment has led to a generous rise in the demand for flexible circuit boards. Besides, they are widely used in electronic devices across various sectors like consumer electronics, automotive, and healthcare. Further, the increasing demand of consumers for electronics is driving the market significantly. Besides, the robust penetration of smart devices such as smartwatches and mobile phones are likely to augment the market further. In addition, the integration of flexible-circuit laminates and thermal performance in an electronic device which opens several gates of opportunities.
However, the outbreak of COVID-19 is projected to bring a significant impact on the global flexible printed circuit board market. The market is anticipated to show a different behaviour due to the sudden lockdown. The lockdown has brought various changes in the market. Various markets have been shut down for the time being to contain the spread of coronavirus. The data experts at MRFR are assessing the market nature in the post-COVID-19 environment. We will provide an impact analysis report on COVID-19.
Market Segmentation
The worldwide flexible printed circuit board market can be distinguished on the basis of application area, type, and region.
On the basis of application area, the worldwide flexible printed circuit board market can be distinguished into consumer electronics, medical devices, manufacturing, aerospace & defense, wearables, automotive, and others.
On the basis of type, the worldwide flexible printed circuit board market can be distinguished into multilayer flex, single-sided flex, rigid-flex, double-sided flex.
On the basis of region, the worldwide flexible printed circuit board market can be distinguished into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
Regional Analysis
The global market for flexible printed circuit board market is projected to expand generously during the assessment period. The regional analysis of North America, Asia-Pacific, Europe, and the Rest of the World (RoW) has been performed. According to MRFR, the APAC region is likely to be the most lucrative and largest market during the assessment period. The region acquires more than 50% of the market share. Countries such as Taiwan, China, and South Korea are projected to make the most substantial contribution in flourishing the regional market. APAC is also chosen as one of the most ideals region to invest. Besides, China is one of the largest electronic manufacturing hubs in the world.
Further, there are several macro and microeconomic factors that are driving the regional market. As per the research, the second position is attained by North America. The region is predicted to expand at the highest CAGR during the review period. The market is estimated to hold a substantial value of USD 3,300 million. The region is estimated to flourish due to the presence of various established players. Europe and RoW are projected to grow significantly during the forecast period.
However, the market graph is estimated to change due to the outbreak of COVID-19. Various regions have been under the observation of lockdown.
Key Players
The renowned players of the global flexible printed circuit board market are bhflex Co. Ltd., Career Technologies, Sumitomo Electric Industries Ltd., Interflex Co. Ltd., Flexible Circuit, Fujikura Ltd., MFS Technology, Daeduck GDS Co. Ltd., Nitto Denko Corporation, and Zhen Ding Tech
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