PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388771
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388771
A thin, heat-resistant material known as a flexible substrate, typically composed of polymers such as polyimide and polyethylene terephthalate (PET), is commonly utilized in computing and electronics devices. These devices often employ small PCBs made of flexible substrates to transmit signals between control prompts and screens. The adoption of flexible substrates for PCBs has grown among manufacturers due to their flexibility, which facilitates the insertion of these boards into narrow and compact spaces. The industrial and medical sectors extensively employ flexible substrate materials for a diverse range of applications and technologies. Notably, the automotive industry has embraced flexible substrates as a result of the increasing reliance on computing technology in modern vehicles. With the emergence of smart cars, automakers require methods to integrate various intelligent components into automotive frameworks without adding excessive weight to the vehicle designs.
Printing technologies have proven to be highly efficient and compatible with polymeric materials, including inks and substrates, which has opened up new possibilities for flexible electronics applications. Conductive flexible polymers, a novel class of materials, have been developed for a wide range of applications, such as photovoltaic solar cells, transistors, molecular devices, sensors, and actuators. According to Electronics.ca Publications, the market for printed organic and flexible electronics is projected to exceed USD billion by 2027. Additionally, the growth of flexible electronics and the emergence of wearable technology present promising opportunities for market expansion. However, the market's growth is hindered by the higher initial setup and operational costs associated with the manufacturing process.
The Global Flexible Substrates Market is segmented on the basis of Product Type, Application, and Region.
The market is divided into three categories based on product type: Plastic, Glass, and Metal. Plastic dominates the market. It is an important segment within the wider flexible substrates industry. plastics are commonly used in this environment due to their versatility, lightweight nature, and cost-effectiveness.
The market is divided into five categories based on application: Consumer Electronics, Solar Energy, Medical and healthcare, Aerospace and Defense and Others. Consumer Electronics dominates the market. Flexible substrates find their application in a variety of uses in the realm of electronic devices for consumers, enabling the production of devices that are more resilient, lightweight, and slimmer.
Geographically, this market is widespread in North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market is segmented by nations based on their business activities, with Asia Pacific projected to lead the growth due to private companies' increasing investment in the electronics industry. The region's private companies are heavily investing in electronics production and innovation, resulting in a high demand for flexible substrates. According to a report by the China Academy of Information and Communications Technology, China's electronics manufacturing industry experienced steady expansion in the first two months of the year, contributing significantly to the country's industrial growth. The added value of major electronics manufacturers rose by 12.7 percent year-on-year, compared to the 7.5 percent growth in the overall industrial sector. The market growth is expected to be driven by Europe and Asia Pacific regions in the forecast period.
The flexible substrates market encompasses numerous companies and participants engaged in the production and distribution of flexible substrates, which find applications in diverse sectors such as flexible electronics, displays, and printed electronics. Making an informed investment decision can be the determining factor between stagnation and gaining a competitive edge. In a dynamic and fiercely competitive market like flexible packaging, enhancing consumer production capacity and capabilities to venture into new markets can prove to be crucial steps in consolidating one's position and expanding the client base. The Flexible Electronics Opportunity proposes collaborative efforts between industry, universities, and government entities to facilitate substantial investments and expedite the development of new technologies, thereby fostering a thriving flexible electronics industry.
On November 1, 2022, Meta Materials Inc, a company specializing in the development of advanced smart materials and nanocomposites, made an announcement regarding its collaboration with DuPont Teijin Films and Mitsubishi Electric Europe. The purpose of this partnership is to establish a Memorandum of Understanding ("MOU") and jointly implement META's PLASMAfusion technology. The primary objective of this collaboration is to expand the production capacity of a unique roll-to-roll manufacturing system for film-based, coated copper current collectors.
The scope of this report covers the market by its major segments, which include as follows: