Flexible Electronics & Circuit Market Size, Share, Growth, And Industry Analysis By Type (Single-Sided, Multilayer, Rigid, Flexible Electronics & Circuit) By Application (OLED & LCD Display, Printed Sensor, Battery, Thin-Film PV, OLED Lighting), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Flexible Electronics & Circuit Market Report Overview

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The global flexible electronics & circuit market size was USD 22340 million in 2022 and is expected to reach USD 86863.14 million by 2031, at a CAGR of 16.3% during the forecast period.

Placing electronic components on flexible substrates like polyimide polyester sheets allows for the creation of flexible electronic devices and circuits. Printed circuit boards are another name for flexible printed circuits, commonly referred to as flex circuits. In terms of design, production, and functionality, flex circuits and PCBs differ significantly. Designing a flexible circuit that adheres to the same guidelines as a PCB is a common error made by designers. Due to their electrical conductivity and environmental sustainability, gold and solder are the two most common compounds used to coat contact surfaces because copper has a tendency to oxidise quickly. Noncontact portions are covered in a dielectric substance to shield the electronics from oxidation or electrical shorting.

The market expansion of the flexible electronics and circuit industry is being driven by the rising demand for consumer electronics, wearable electronics, and mobile applications. The market is comprehensively evaluated in the study on the global flexible electronics and circuit industry.

COVID-19 Impact: Due to tight lockdowns COVID-19 had a negative effect on the flexible electronics and circuit sector

The COVID-19 pandemic has been unprecedented and staggering, with the Flexible Electronics & Circuit market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Due to the tight lockdowns and social isolation necessary to stop the virus's propagation, the COVID-19 had a negative effect on the flexible electronics and circuit sector. The flexible electronics and circuit market was hit by the lack of customer confidence, the partial company shutdown, and the uncertain economic climate. During the epidemic, the supply chain was impeded along with logistics operations. However, because of the loosening of the constraints, it is anticipated that the market for flexible electronics and circuits will pick up speed in the post-pandemic scenario.

Latest Trends

"Demand for Flexible Displays is Growing fuel the market growth"

The market's expansion is accelerated by the expanding usage of flexible display panels in the production of gadgets including smartphones, watches, tablets, and televisions. Their portability, toughness, and visual appeal are all improved by the flexible display panels. The market for flexible electronics and circuits is expanding as a result of the rising use of flexible displays and thin-film photovoltaics, as well as the growing need for printed sensors in automotive applications. Flexible electronics are widely utilised in cellphones, PCs, televisions, tablets, wearable technology, and other consumer electronics because they are affordable, durable, and environmentally friendly. Such devices make use of flexible displays to reduce thickness and weight while saving space. The two most common forms of displays at a jumble sale are flexible organic light-emitting diodes (OLED) and flexible organic liquid crystal displays (OLCD). Alongside consumer electronic initiatives, there is an increasing demand for flexible electronics. The COVID-19 epidemic caused a reduction in smartphone shipments, although it is anticipated that the market will soon recover.

Flexible Electronics & Circuit Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into single-sided, multilayer, rigid, flexible electronics & circuit. Single-sided is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into OLED & LCD Display, Printed Sensor, Battery, Thin-Film PV, OLED Lighting. OLED & LCD Display will be the dominating segment.

Driving Factors

"Growth of the Consumer Electronics Industry propel the market growth"

One of the key factors boosting the market for flexible electronics and circuits is the expansion of the consumer electronics industry globally. Due to the prevalence of numerous chronic conditions, customer preference for wearable devices is growing, which benefits the industry. The rising demand for consumer electronics applications is the main driver fueling market expansion. The growing consumer preference for wearable technology also contributes to a positive perception of the market's expansion. Flexible display panels are used in the production of smartphones, tablets, watches, and televisions to enhance their visual appeal, portability, and durability. Additionally, extensive product use in the healthcare sector stimulates market expansion. In addition to improving trends in mechanical arms and prosthetic hands, flexible biomedical devices can be inserted in the patient's skin to precisely detect biomechanical movements, biological signals, and vital signs.

"Utilizing Adoption in Healthcare boost the market growth"

The market is also affected by the healthcare sector's rapid adoption. Patients may have flexible biomedical devices implanted on their skin for the accurate analysis of biological signals, vital signs, and biomechanical movements. Additionally, the market for flexible electronics and circuits benefits from rising urbanization, a shift in lifestyle, an increase in investments, and higher consumer spending.

Restraining Factors

"Different repair and rework may hinder the market growth"

Flexible electronics repair and reworking is a highly difficult operation. Flexible electronics may sustain damage in the form of conductor damage, heat-damaged or raised pads, or shredded or cut flex material. Such damage requires the repair of highly skilled individuals. Sometimes the repair method can cause harm to the entire circuit. Rework on the same flex circuit is a difficult task because the circuits are thin, complicated, and calls for high-precision equipment. To avoid any short-circuiting incidents, a flexible circuit must first be cleared of all the components and conductor material.

Flexible Electronics & Circuit Market Regional Insights

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"North America is anticipated to be the leading region over the projected period"

The markets for flexible electronics and circuits in North America, Europe, Asia Pacific, and the rest of the world are divided into these regions. As a result of the expansion of high-tech businesses producing flexible electronics for military applications, the North American region owns a sizable portion of the market. The market for flexible electronics and circuits is expanding at the quickest rate in Europe, which is due to the region's growing desire for smart wearables that are integrated with consumer electronics. During the forecast period, the North American region is anticipated to expand at a CAGR of 6.6%. due to the expansion of high-tech firms producing flexible electronics for use in the military. Many states in the United States that are at the forefront of innovation have established research facilities for flexible and printed electronics, which is seen to be a major factor in the market's expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Samsung (South Korea)
• LG (South Korea)
• Solar Frontier (Tokyo)
• First Solar (U.S.)
• Panasonic (Japan)
• Konica Minolta (Japan)
• OLEDWorks (U.S.)
• Blue Spark (U.S.)
• BrightVolt (U.S.)
• Heliatek (Germany)
• Cymbet (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.