According to a new market research report published by Credence Research, the global flexible printed circuit boards market was valued at $16.56 Bn in the year 2018 and expected to reach $41.04 Bn by year 2027, expanding at a CAGR of 10.6% during the forecast from 2019 to 2027.
Escalating demand for miniaturized electronic and industrial products favors the growth of Flexible Printed Circuit Boards (FPCBs). The FPCBs offer great flexibility to engineers while designing a low cost, high reliability and lightweight miniaturized product. They are also preferred in the heat-sensitive electronics and products as they are better able to counteract the thermal stress than rigid PCBs. Their multiple benefits have driven the adoption of flexible circuits in a wide range of areas such as consumer electronics, automotive, medical, and many other sectors. In addition, increasing penetration of connected and smart devices is further expected to boost the demand for flexible circuits in the coming years. Recently, Ericsson forecast that the total number of connected devices is expected to mark 29 Billion by the year 2022, with a CAGR of nearly 20%.