The global flexible circuits market size was estimated to be around US$ 32.1 billion in 2022. It is projected to reach US$ 65.24 billion by 2032, indicating a CAGR of 7.40% from 2023 to 2032.
Key Takeaways
- North America contributed more than 38% of revenue share in 2022.
- Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
- The consumer electronics segment has held the largest market share of 48% in 2022.
- The automotive segment is anticipated to grow at a remarkable CAGR of 8.2% between 2023 and 2032.
- The base material segment generated over 42% of revenue share in 2022.
- The conductor material segment is expected to expand at the fastest CAGR over the projected period.
- The single-sided flex circuits segment had the largest market share of 37% in 2022.
- The multi-layer flex circuits segment is expected to expand at the fastest CAGR over the projected period.
Overview
The flexible circuits market is a dynamic sector within the electronics industry, characterized by the use of bendable and flexible substrates for circuitry. These circuits provide a versatile alternative to traditional rigid printed circuit boards (PCBs), enabling innovative designs and applications in various electronic devices.
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Growth Factors
The market’s growth is propelled by several key factors. Firstly, the increasing demand for compact and lightweight electronic devices, such as smartphones, wearables, and medical devices, has driven the adoption of flexible circuits. Additionally, advancements in materials and manufacturing technologies have enhanced the reliability and performance of flexible circuits, further fueling market growth. The trend towards miniaturization and the Internet of Things (IoT) is also a significant contributor.
flexible Circuits Market Scope
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 7.40% |
| Market Size in 2023 | USD 34.31 Billion |
| Market Size by 2032 | USD 65.24 Billion |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Application, By Material, and By Construction |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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U.S. Flexible Circuits Market in 2023 To 2032
The U.S. flexible circuits market was valued at USD 8.54 billion in 2022, with a projected growth of USD 17.19 billion by 2032, showcasing a 7.30% Compound Annual Growth Rate (CAGR) from 2023 to 2032.
The largest revenue share in 2022, at 38%, belonged to North America. The region is witnessing a surge in the flexible circuits market, primarily driven by rapid advancements in consumer electronics. The demand for flexible circuitry is rising in smartphones, tablets, and wearables. Additionally, the automotive sector is increasingly incorporating flexible circuits in infotainment systems and advanced driver-assistance systems. The market is also influenced by a focus on sustainability and green technologies, leading to the use of eco-friendly materials. Collaborations with research institutions and tech companies contribute to innovation and the overall growth of the market.
The Asia Pacific region is expected to experience the fastest expansion. It dominates the flexible circuits market, serving as a global electronics manufacturing hub. The region is witnessing increased production of IoT devices, wearables, and smartphones, contributing to the growing demand for flexible circuits. Trends such as miniaturization and innovations in materials are prominent. Moreover, Asia Pacific focuses on cost-effective production, expanding market reach and diversity. Collaborations among industry players and research institutions drive technological advancements, solidifying its leading position in the global flexible circuits market.
By Application
The Flexible Circuits Market is diversified based on its applications, catering to various industries with specific needs. One prominent segment is the consumer electronics sector, where flexible circuits find extensive use in devices like smartphones, wearables, and tablets. The medical industry also relies on flexible circuits for applications such as medical sensors and monitoring devices due to their adaptability and compact design. Moreover, automotive applications, including in-car electronics and control systems, contribute significantly to the market’s growth. The aerospace and defense sector also benefits from the flexibility and lightweight nature of these circuits, enabling innovative solutions in space-constrained environments.
By Material
Flexible circuits utilize a range of materials, each offering distinct advantages. Polyimide, a high-temperature-resistant polymer, is a popular choice, providing durability and flexibility. Polyester is another material used for its cost-effectiveness and versatility, making it suitable for various applications. Meanwhile, liquid crystal polymer (LCP) is valued for its exceptional electrical properties and resistance to harsh environments. The choice of material often depends on the specific requirements of the application, such as temperature resistance, flexibility, or cost considerations.
By Construction: In terms of construction, flexible circuits come in different forms to meet the demands of diverse applications. Single-sided flexible circuits are the simplest and most cost-effective, suitable for basic electronic devices. Double-sided flexible circuits allow for more complex designs, accommodating a higher density of components. Multilayer flexible circuits further enhance the complexity by incorporating multiple layers of conductive material, enabling intricate connections and functionality. Finally, rigid-flex circuits combine both flexible and rigid substrates, offering a hybrid solution that is adaptable yet structurally stable. The choice of construction depends on the specific requirements of the electronic system and the desired balance between flexibility and rigidity.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Recent Developments
- In 2023, Brewer Science Inc. introduced hybrid printed sensors at LOPEC in Germany, enabling real-time water quality monitoring for lead, nitrate, and pH. These sensors combine printed electronics with advanced materials, creating a versatile platform for continuous multi-sensing arrays and comprehensive sensor solutions.
- In 2022, Micross Components, Inc. has partnered with Apogee Semiconductor to offer radiation-hardened semiconductor products. These products encompass interface, logic, and translation integrated circuits (ICs) in diverse form factors, serving the aerospace, defense, medical, and industrial sectors.
- In 2022, LG Display showcased concept flexible OLED solutions, such as the Virtual Ride indoor stationary bicycle and the Media Chair integrated entertainment center, in anticipation of CES 2022. These innovations demonstrate the potential of flexible displays in various applications.
Flexible Circuits Market Players
- Molex, LLC
- TE Connectivity Ltd.
- Multi-Fineline Electronix (MFLEX)
- NOK Corporation
- CAREER Technology (Mfg.) Co., Ltd.
- Sumitomo Electric Industries, Ltd.
- Rogers Corporation
- Daeduck Electronics Co., Ltd.
- Nippon Mektron, Ltd.
- Flex Ltd.
- Zhen Ding Technology Holding Limited
- Unimicron Technology Corporation
- Shinko Electric Industries Co., Ltd.
- Fujikura Ltd.
- Suzhou Dongshan Precision Manufacturing Co., Ltd.
Segments Covered in the Report
By Application
- Aerospace
- Telecommunications
- Automotive
- Medical Systems
- Industrial & Instrumentation
- Semiconductors
- Consumer Electronics
By Material
- Base Material
- Conductor Material
- Adhesives
- Protective Coatings
By Construction
- Single-Sided Flex Circuits
- Double Sided Flex Circuits
- Multi-Layer Flex Circuits
- Rigid Flex Circuits
- Flex Coils
- Sculpted Flex Circuits
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Flexible Circuits Market
5.1. COVID-19 Landscape: Flexible Circuits Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Flexible Circuits Market, By Application
8.1. Flexible Circuits Market Revenue and Volume, by Application, 2023-2032
8.1.1 Aerospace
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Telecommunications
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
8.1.3. Automotive
8.1.3.1. Market Revenue and Volume Forecast (2020-2032)
8.1.4. Medical Systems
8.1.4.1. Market Revenue and Volume Forecast (2020-2032)
8.1.5. Industrial & Instrumentation
8.1.5.1. Market Revenue and Volume Forecast (2020-2032)
8.1.6. Semiconductors
8.1.6.1. Market Revenue and Volume Forecast (2020-2032)
8.1.7. Consumer Electronics
8.1.7.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Flexible Circuits Market, By Material
9.1. Flexible Circuits Market Revenue and Volume, by Material, 2023-2032
9.1.1. Base Material
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Conductor Material
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
9.1.3. Adhesives
9.1.3.1. Market Revenue and Volume Forecast (2020-2032)
9.1.4. Protective Coatings
9.1.4.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Flexible Circuits Market, By Construction
10.1. Flexible Circuits Market Revenue and Volume, by Construction, 2023-2032
10.1.1. Single-Sided Flex Circuits
10.1.1.1. Market Revenue and Volume Forecast (2020-2032)
10.1.2. Double Sided Flex Circuits
10.1.2.1. Market Revenue and Volume Forecast (2020-2032)
10.1.3. Multi-Layer Flex Circuits
10.1.3.1. Market Revenue and Volume Forecast (2020-2032)
10.1.4. Rigid Flex Circuits
10.1.4.1. Market Revenue and Volume Forecast (2020-2032)
10.1.5. Flex Coils
10.1.5.1. Market Revenue and Volume Forecast (2020-2032)
10.1.6. Sculpted Flex Circuits
10.1.6.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 11. Global Flexible Circuits Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.1.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.1.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.1.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.1.4.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.1.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.1.5.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.2.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.2.4.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.2.5.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.2.6.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.2.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.2.7.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.3.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.3.4.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.3.5.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.3.6.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.3.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.3.7.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.4.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.4.4.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.4.5.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.6.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.4.6.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.4.7.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.4.7.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.5.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.5.4.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.5.4.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Volume Forecast, by Application (2020-2032)
11.5.5.2. Market Revenue and Volume Forecast, by Material (2020-2032)
11.5.5.3. Market Revenue and Volume Forecast, by Construction (2020-2032)
Chapter 12. Company Profiles
12.1. Molex, LLC
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. TE Connectivity Ltd.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Multi-Fineline Electronix (MFLEX)
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. NOK Corporation
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. CAREER Technology (Mfg.) Co., Ltd.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Sumitomo Electric Industries, Ltd.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Rogers Corporation
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Daeduck Electronics Co., Ltd.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Nippon Mektron, Ltd.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Flex Ltd.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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