Flexible Printed Circuit Board Market: Size, Share, Trends, and Growth Opportunities 2024

Overview and Scope

A flexible printed circuit board (FPCB) is an electronic circuit board made from flexible materials, allowing it to conform to various shapes and sizes. It typically comprises a flexible polymer substrate, onto which electronic components are mounted and electrically connected through conductive tracks. FPCBs are used in various applications where space is limited or flexibility is required, such as in smartphones, wearables, medical devices, and aerospace technology.

Sizing and Forecast

The flexible printed circuit board market size has grown rapidly in recent years. It will grow from $23.63 billion in 2023 to $26.20 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to miniaturization of electronic devices driving demand for compact circuitry, consumer electronics boom increasing demand for flexible PCBS, medical device innovation utilizing flexible and space-efficient circuitry, military and aerospace applications for lightweight and durable PCBS, and demand from industrial automation for flexible PCBS.

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Segmentation & Regional Insights

The flexible printed circuit board market covered in this report is segmented –

1) By Type: Single-Sided FPCBs, Double-Sided FPCBs, Multilayer FPCBs, Rigid-Flex FPCBs, Other Types

2) By Laminate: FR-4Polyamide, Composite Epoxy Material Grade-1, Paper, Other Laminates

3) By End User: Industrial Electronics, Aerospace And Defense, Information Technology And Telecom, Automotive, Consumer Electronics, Other End Users

Asia Pacific was the largest region in the flexible printed circuit board market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the flexible printed circuit board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing adoption of electric vehicles is expected to propel the growth of the flexible printed circuit board market going forward. An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. Flexible printed circuit boards (FPCBs) in electric vehicles are used to efficiently connect and manage electronic components in limited spaces, enhancing reliability and performance. For instance, in April 2023, according to the International Energy Agency, a France-based intergovernmental organization, electric cars accounted for 21% of sales in 2022, an increase from 18% in 2021 and 10% in 2020. Therefore, the increasing adoption of electric vehicles is driving the growth of the flexible printed circuit board market.

Key Industry Players

Major companies operating in the flexible printed circuit board market report are 3M Company, Jabil Inc., Flex Ltd., Nitto Denko Corporation, Samsung Electro-Mechanics Co. Ltd., Zhen Ding Technology Holding Limited, Fujikura Ltd., NOK Corporation (Nippon Mektron Ltd.), Molex LLC, TTM Technologies Inc., Tripod Technology Corporation, Austria Technologie & Systemtechnik Aktiengesellschaft, FLEXium Interconnect Inc., Multi-Fineline Electronix Inc., Cicor Group, Interflex Co. Ltd., ICHIA Technologies Inc., NewFlex Technology Co. Ltd., IEC Electronics Corp., Eltek Ltd., Career Technology Mfg. Co. Ltd., Sumitomo Electric Industries Ltd., Multek Corporation, Daeduck GDS Co. Ltd., Flexcom Inc.

The flexible printed circuit board market report table of contents includes: