Introduction of the Flexible Electronics & Circuit Market Report

Flexible Electronics & Circuit generally refers to a class of electronic devices built on conformable or stretchable substrates, usually plastic, but also metal foil, paper and flex glass. Flexible electronics are being designed into a wide range of products on the market today, including both consumer and industrial segments. These products include components in today’s cell phones and displays, human and health performance tools, security tags, sensor componentry in cars and airplanes, agricultural and environmental sensors, strain gauges in bridges and equipment, just to name a few.

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Market Dynamic

Key Drivers and Emerging Trends

The major factors driving the global Flexible Electronics & Circuit market include rising demand for consumer electronic devices and low cost of production compared to rigid substrates. These are cost-effective, durable, and reliable, and widely utilized in smartphones, PCs, TVs, tablets and wearables. Flexible displays are integrated into these devices to save on space and minimize thickness and weight. The two main types of displays employed are flexible organic light-emitting diode (OLED) and flexible organic liquid crystal display (OLCD). Furthermore, the demand for flexible electronics is growing with the rising demand for consumer electronic devices. Although there has been a sink in the shipment of smartphones due to the COVID-19 outbreak, the smartphone market is forecasted to revive soon. In addition to that, the growing penetration of consumer electronic devices across sectors also fuels growth in the flexible electronics & circuit market.

Impact of COVID-19 on the Flexible Electronics & Circuit Market

The COVID-19 pandemic has significantly impacted players operating in the flexible electronics & circuit value chain. However, with the complete shutdown of all manufacturing units, public places, and offices due to lockdowns measures across the world, the demand for flexible electronics decreased drastically. Also, the demand for these electronics has decreased considerably worldwide due to lockdowns imposed by different governments to avoid the spread of the virus, which has negatively impacted the flexible electronics & circuit market growth. Moreover, these lockdowns have also affected the GDP of countries and the per capita income of individuals across the globe. The low disposable income has resulted in decreased purchasing power of people, thereby resulting in a decline in the growth for the whole market.

Restraint in the Flexible Electronics & Circuit Market

However, the high cost of new materials and equipment for flexible electronics research is a major restraining factor that is hampering the flexible electronics & circuit market.

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Structure Type – Segment Analysis

Based on the Structure Type, the Rigid Flex Circuit segment is expected to grow at a higher CAGR during the forecast period. These types of circuits offer a reduction in assembly costs, weight, time and package size. They also offer enhanced signal integrity than other structure types and are increasingly being employed in the military, defense & aerospace, automotive; communications; and consumer electronics verticals. These circuit boards have very fine lines, allowing enough space for other components. Therefore, multilayer flex circuit boards have a high board density that is suitable for high-density applications.

Vertical – Segment Analysis

Based on the Vertical, the Consumer Electronics segment is expected to grow at a higher CAGR during the forecast period. The growth of this segment can be attributed to the large-scale installation of flexible displays in consumer electronic devices like smartphones, wearables, televisions, etc. Flexible OLED displays are used diversely in leading smartphones by industry leaders like Apple Inc. and Samsung. Apple has plans to launch the iPhone Flip with a flexible display in upcoming years. Such developments have contributed considerably to the growth of the overall market for the consumer electronics vertical.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period. The growth of the market can be attributed to the proximity of leading players from the flexible electronics industry like Samsung Group, LG Corp., Konica Minolta Inc., Panasonic Corporation. These players have accounted for a major share of the flexible electronics market, thereby contributing considerably to the growth of the market in Asia-Pacific. In addition to that, the increasing establishment of high-technology companies of flexible electronics for military use is another factor influencing the growth of the market in this region.

Top Market Players

Various notable players operating in the market include SAMSUNG, LG Corp., Panasonic Corporation, 3M, Konica Minolta Business Solutions, Inc., First Solar, E Ink Holdings Inc., PragmatIC, Blue Spark Technologies, BrightVolt, among others. 

Key Developments:

• • In 2021, SAMSUNG launched the Samsung Bespoke 4-Door Flex refrigerator in the US market to serve a wide variety of household refrigeration needs.
  • In 2021, PragmatIC collaborated with Schreiner MediPharm to offer a low-cost NFC-enabled label for medications. PragmatIC’s ultra-thin FlexIC 13.56 MHz chip, approved with a subset of the ISO 14443 standard, has been consolidated into Schreiner MediPharm’s labels for use on carton syringes and vials.
  • In 2021, LG Corp. procured the controlling stake in TV data and measurement firm ALPHONSO. This will allow the company to offer even more customized services and content to consumers.

Segments covered in the Report:

The global Flexible Electronics & Circuit market has been segmented on the basis of Structure Type, Vertical, Application, and regions. Based on Structure Type, the market is segmented into Single Sided Flex Circuit, Double Sided Flex Circuit, Multilayer Flex Circuit, Rigid Flex Circuit and Others. Based on Vertical, the market is segmented into Military, Defense & Aerospace, Automotive, Consumer Electronics, Industrial and Others. Based on Application, the market is segmented into Displays, Thin-Film Photovoltaics, Printed Sensors, Batteries, OLED Lighting and Others. 

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Key questions answered in this research report:

• • At what pace is global Flexible Electronics & Circuit market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Flexible Electronics & Circuit market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Flexible Electronics & Circuit market?
  • Which Structure Type generated maximum revenues in 2020 and identify the most promising Structure Type during the forecast period?
  • What are the various Vertical areas of global Flexible Electronics & Circuit market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Structure Type, By Vertical, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	SAMSUNG, LG Corp., Panasonic Corporation, 3M, Konica Minolta Business Solutions, Inc., First Solar, E Ink Holdings Inc., PragmatIC, Blue Spark Technologies, BrightVolt, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Flexible Electronics & Circuit Market by Structure Type

• • Single Sided Flex Circuit
  • Double Sided Flex Circuit
  • Multilayer Flex Circuit
  • Rigid Flex Circuit
  • Others

Global Flexible Electronics & Circuit Market by Vertical

• • Military
  • Defense & Aerospace
  • Automotive
  • Consumer Electronics
  • Industrial
  • Others

Global Flexible Electronics & Circuit Market by Application

• • Displays
  • Thin-Film Photovoltaics
  • Printed Sensors
  • Batteries
  • OLED Lighting
  • Others

Global Flexible Electronics & Circuit Market by Region

• • North America Flexible Electronics & Circuit Market (Option 1: As a part of the free 25% customization)
    • North America Flexible Electronics & Circuit Market by Structure Type
    • North America Flexible Electronics & Circuit Market by Vertical
    • North America Flexible Electronics & Circuit Market by Application
    • US Flexible Electronics & Circuit Market All-Up
    • Canada Flexible Electronics & Circuit Market All-Up
  • Europe Flexible Electronics & Circuit Market (Option 2: As a part of the free 25% customization)
    • Europe Flexible Electronics & Circuit Market by Structure Type
    • Europe Flexible Electronics & Circuit Market by Vertical
    • Europe Flexible Electronics & Circuit Market by Application
    • UK Flexible Electronics & Circuit Market All-Up
    • Germany Flexible Electronics & Circuit Market All-Up
    • France Flexible Electronics & Circuit Market All-Up
    • Spain Flexible Electronics & Circuit Market All-Up
    • Rest of Europe Flexible Electronics & Circuit Market All-Up
  • Asia-Pacific Flexible Electronics & Circuit Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Flexible Electronics & Circuit Market by Structure Type
    • Asia-Pacific Flexible Electronics & Circuit Market by Vertical
    • Asia-Pacific Flexible Electronics & Circuit Market by Application
    • China Flexible Electronics & Circuit Market All-Up
    • India Flexible Electronics & Circuit Market All-Up
    • Japan Flexible Electronics & Circuit Market All-Up
    • Rest of APAC Flexible Electronics & Circuit Market All-Up
  • RoW Flexible Electronics & Circuit Market (Option 4: As a part of the free 25% customization)
    • RoW Flexible Electronics & Circuit Market by Structure Type
    • RoW Flexible Electronics & Circuit Market by Vertical
    • RoW Flexible Electronics & Circuit Market by Application
    • Brazil Flexible Electronics & Circuit Market All-Up
    • South Africa Flexible Electronics & Circuit Market All-Up
    • Saudi Arabia Flexible Electronics & Circuit Market All-Up
    • UAE Flexible Electronics & Circuit Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Flexible Electronics & Circuit Market All-Up

Major Players Operating in the Flexible Electronics & Circuit (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • SAMSUNG
  • LG Corp.
  • Panasonic Corporation
  • 3M
  • Konica Minolta Business Solutions, Inc.
  • First Solar
  • E Ink Holdings Inc.
  • PragmatIC
  • Blue Spark Technologies
  • BrightVolt