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Top Factor Driving Flexible Printed Circuit Board Market Growth in 2025: The Increasing Adoption Of EVs And Hybrids Steering The Flexible Printed Circuit Board Market
Flexible Printed Circuit Board Market Size
The rise in the use of electric vehicles is anticipated to fuel the expansion of the flexible printed circuit board market. Electric vehicles (EVs), which use one or more electric motors for propulsion, employ flexible printed circuit boards (FPCBs) to effectively link and control electronic components in constrained spaces, thus ramping up reliability and efficiency. For example, the International Energy Agency (IEA), an independent intergovernmental organization based in France, reported that in 2024, electric car sales in 2023 saw an upsurge of 3.5 million from 2022, marking a 35% growth from the previous year. Hence, the escalating usage of electric vehicles is instrumental in the growth of the flexible printed circuit board market.
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How will the growth rate of the flexible printed circuit board market shape industry trends by 2034?
In recent years, there has been a swift expansion in the market size of the flexible printed circuit board. It is anticipated that the market, which was valued at $26.2 billion in 2024, will increase to $28.91 billion in 2025, with a compound annual growth rate (CAGR) of 10.3%. The historical growth can be credited to factors such as the miniaturization of electronic devices, which leads to the need for compact circuitry, increasing demand for flexible PCBS due to the surge in consumer electronics, innovative medical devices that require flexible and space-efficient circuitry, military and aerospace applications that benefit from lightweight and durable PCBS, and the demand from the sector of industrial automation for flexible PCBS.
Anticipated to experience substantial growth in the ensuing years, the flexible printed circuit board market is projected to expand to $42.92 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.4%. This surging growth during the forecast timeframe is linked to the growing popularity of foldable devices propelling market growth, expanding electric vehicles (EVS) market, and the growing use of flexible PCBs among other factors. Other contributors include the demand for flexible PCBs in healthcare wearables and medical devices, the use of flexible PCBs in smart packaging solutions for electronic parts, and the growth of artificial intelligence (AI) applications across various sectors. Other trends forecasted for this period include the rising adoption of internet of things (IoT) devices, the emergence of foldable and flexible display technologies, the focus on miniaturization in electronic devices, the increase in automotive electronics integration, and improvements in materials and manufacturing technology.
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How are the latest trends influencing the growth of the flexible printed circuit board market?
Major firms in the flexible printed circuit board market are striving to innovate and launch new products like ultra-slim semiconductor bases to give them a competitive edge and boost their market profits. These ultra-slim semiconductor bases provide increased flexibility, compactness, and enhanced electrical performance across various electronic devices. LG Innotek Co. Ltd., an electric component manufacturer based in South Korea, introduced, in February 2023, the 2-metal chip on film (COF). The innovative COF, which houses over 4,000 dual-sided circuits and 24-micrometer microvias, facilitates quicker signal transmission and supports higher resolution displays. Its flexible and slim form factor contributes to the development of more streamlined designs in electronic equipment.
Which primary segments of the flexible printed circuit board market are driving growth and industry transformations?
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
Subsegments:
1) By Single-Sided FPCBs: Flexible Single-Sided Circuit Boards, Single-Sided Adhesive FPCBs
2) By Double-Sided FPCBs: Flexible Double-Sided Circuit Boards, Double-Sided Adhesive FPCBs
3) By Multilayer FPCBs: Rigid Multilayer FPCBs, Flexible Multilayer Circuit Boards
4) By Rigid-Flex FPCBs: Rigid-Flex Circuits With Embedded Components, Rigid-Flex Circuits With Conventional Components
5) By Other Types: High-Frequency FPCBs, Heat-Resistant FPCBs, Ultra-Thin FPCBs, Biodegradable FPCBs
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Which geographical regions are pioneering growth in the flexible printed circuit board market?
Asia Pacific was the largest region in the flexible printed circuit board market in 2024. 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.
Who are the influential players reshaping the flexible printed circuit board market landscape?
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 Technologies & 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.
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What Is Covered In The Flexible Printed Circuit Board Global Market Report?
• Market Size Forecast: Examine the flexible printed circuit board market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the flexible printed circuit board market for a structured understanding.
• Key Players Overview: Analyze major players in the flexible printed circuit board market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the flexible printed circuit board market.
• Segment Contributions: Evaluate how different segments drive overall growth in the flexible printed circuit board market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the flexible printed circuit board market.
• Industry Challenges: Identify potential risks and obstacles affecting the flexible printed circuit board market.
• Competitive Landscape: Review strategic developments in the flexible printed circuit board market, including expansions, agreements, and new product launches.
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