Global Flexible Substrates Market Size, Trends & Growth Opportunity By Type (Plastic, Glass, Metal), By Application (Consumer Electronics, Solar Energy, Medical & Healthcare, Aerospace & Defense), and By Region and Forecast till 2027.

Global Flexible Substrates Market

The Global Flexible Substrates market is expected to grow from US$ 382.4 Million in 2021 to US$ 790.1 Million by 2027; it is estimated to grow at a CAGR of 13.02% from 2021 to 2027.

A thin, heat-resistant material typically made of polymers like polymide and polyethylene terephthalate is referred to as a flexible sulphate (PET). Small printed circuit boards that transmit signals between control indicators and displays are typically made of flexible substrates and are found in many computers and electronic devices. The material is suitable for small devices and demanding work environments where factors like vibration and extreme heat frequently come into play thanks to qualities like flexibility and durability.

Drivers: The development of the flexible substrate market is largely due to printed electronics technologies, which are used to design electrical devices on a variety of substrates. The market for flexible substrates is expanding due to the rising demand for OLEDs, which are organic light emitting diodes made of carbon-based materials that emit light when electricity is applied. White light panels and effective and aesthetically pleasing displays are made with these OLEDs. Due to the growing adoption of organic electronics-based IC designing techniques for non-invasive monitoring and the development of flexible medical devices, the market for flexible substrates presents a growth opportunity.

Restraints: The major restraint identified in the flexible substrate market is the high manufacturing cost as well as high raw material cost of certain substrates. The high production cost of substrates exhibiting higher temperature resistance is quite high which limit the scope of their applications, thus restricting the growth prospects of the flexible substrate market.

Opportunities: The market for flexible substrates has identified growing product demand from quickly developing developing regions as a major opportunity. One of the markets for consumer electronics that is expanding the fastest is in nations like China, India, and Brazil. Furthermore, these nations have established ambitious goals for expanding their renewable energy capacity, particularly in solar energy. Additionally, a significant number of APAC countries are bolstering their aerospace and defence industries in order to advance their political and strategic interests internationally. The flexible substrate market's primary end use industries are all those listed above because they all need this material to produce their products. In the APAC region, there should be plenty of growth opportunities due to the quickly expanding end use industries.

Impact of Covid-19

The WHO has deemed it a public health emergency as the disease has spread to nearly 110 countries worldwide since the outbreak. Due to flight cancellations, quarantine and travel restrictions, restricted events, and temporary production facility closures, sales of flexible substrates have decreased.

Segmentation By Type: The market is divided into three types based on type: glass, plastic, and metal. The global electronics industry's increasing demand for affordable flexible substrates is what is driving the segment's rapid growth.

Segmentation By Application: Consumer electronics, solar energy, medical & healthcare, aerospace & defence, and others are the market segments based on application type. The consumer electronics application segment of the global flexible substrates market is growing due to the expanding use of flexible substrate in portable devices like displays.

Segmentation By Region: Flexible Substrates Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, the Asia-Pacific region is anticipated to dominate the market for flexible substrates. The economic development taking shape in various Asia-Pacific nations is responsible for the region's market expansion. Demand for flexible substrates is also rising in the Asia-Pacific region as a result of increased investments made by private electronics companies there. Due to their increased electronics production, China and India's markets for flexible substrates are also showing notable growth.

Competitive Landscape: The key players of Flexible Substrates Market are Ube Industries, Ltd., DuPont, 3M Company, Panasonic Corporation, Schott, Fuentek Kolon, LLC., Dow, Jiangsu SuCushi Technology Co., Nippon Electric Glass Co., Ltd., DuPont Teijin Films, BenQ Materials Corporation, Sheldahl Corporation, and Polyonics, Inc.

Industrial Development

• Polyonics, Inc. introduced new HIGHdegree tag and label materials in January 2021 to track and identify hot metals during the manufacturing process, assisting foundries and factories in avoiding the high cost of product recalls and implementing plant automation. The Polyonics HIGHdegree polyimide and aluminium bar code label material includes characteristics like silicone print surfaces that are appropriate for thermal transfer printing or a distinctive, non-yellowing polymer.
• UBE Corporation announced in December 2021 that it had expanded production capabilities for polyimide film for circuit substrates for liquid crystal display (LCD) TVs and organic light emitting diode (OLED) displays for smartphones at Ube Chemical Factory in Ube City, Yamaguchi Prefecture.

Market Taxonomy

By Type

• Plastic
• Glass
• Metal

By Application

• Consumer Electronics
• Solar Energy
• Medical & Healthcare
• Aerospace & Defense

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Flexible Substrates Market?
• What will be the growth rate from 2020 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?