Flexible Substrates Market to experience an impressive growth of 15.2% during 2020-2025
January 28, 2020
Flexible Substrates Market is likely to witness an impressive CAGR of 15.2% during the forecast period. Increasing demand from the electronics industry across the globe is the major factor driving the global flexible substrates market. Apart from being used for the production of solar modules, flexible substrates are also increasingly being used in the production of flexible printed circuit boards. Further, their augmented use in the manufacturing of medical & healthcare devices is also underpinning the growth of the flexible substrates market across the globe during the forecast period. Growing consumption of flexible substrates in solar application is further contributing towards the growth of the global market.
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Flexible Substrates Market Segment Insights:
By Type:
Based on the type, the market is segmented as metal, plastic, and glass. The plastic type segment held the largest share of the market in 2018, and this segment is also likely to register the highest growth during the forecast period. The high growth of the segment is owing to the growing demand for low-cost flexible substrates from the electronics industry across the globe.
By Application Type:
Based on the application type, the market is segmented as consumer electronics, solar energy, medical & healthcare, aerospace & defense, and others. The consumer electronics application segment occupied the largest share of the market in 2018, and is also expected to depict the highest growth in the coming five years. The growing use of flexible substrate in display and other portable devices is propelling the growth of the consumer electronics application segment of the global flexible substrates market.
By Region:
In terms of regions, the Asia-Pacific region is expected to command the flexible substrates market during the forecast period. The growth of the region’s market can be attributed to the economic development shaping up in different countries of the Asia-Pacific region. In addition, increased investments by private companies of the electronics industry in the Asia-Pacific region are also generating demand for flexible substrates in the region. The flexible substrates markets in China and India are also portraying significant growth, due to the increased production of electronics in these countries. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Some of the major players in the flexible substrates market are American Semiconductor, Inc., Corning Inc., Doosan Electronics, Dupont Teijin (Indorama), FLEXcon, Heraeus, I-Components Co., Ltd., Kolon Industries, Inc., Mitsubishi Chemical Corporation, and Nippon Electric Glass Co., Ltd.
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- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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