Flexible Electronics Market Size to Surge to USD 48.5 Billion by 2026

With a compound annual growth rate (CAGR) of 8.8%, the Flexible Electronics Market Size is expected to increase from USD 31.9 billion in 2021 to USD 48.5 billion by 2026.

Pune, 03/07/2024 (informazione.it - comunicati stampa - scienza e tecnologia)

The report "Flexible Electronics & Circuit Market with COVID-19 Impact Analysis by Structure Type (Single Sided Flex Circuit, Multilayer Flex Circuit), Application (Displays, Printed Sensors), Vertical (Consumer Electronics), and Geography – Global Forecast to 2026" highlights a robust market growth trajectory, projecting the market size to reach USD 48.5 billion by 2026 from an estimated USD 31.9 billion in 2021, at a CAGR of 8.8% from 2021 to 2026.

This growth is primarily driven by the increasing adoption of flexible electronics in consumer electronics, enhanced by the demand for innovative and compact electronic devices. The COVID-19 pandemic has further accelerated the need for advanced healthcare and telecommunication solutions, integrating flexible circuits and displays. The advancements in multilayer flex circuits and printed sensor applications are pivotal in catering to the evolving technological landscape, supporting diverse industries such as automotive, healthcare, and industrial automation. The report underscores the strategic importance of innovation in flexible electronics to meet future technological demands and the increasing emphasis on sustainability and efficiency in electronic manufacturing.

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The rising demand for consumer electronic devices is a significant factor driving the growth of the flexible electronics and circuit industry. As consumers increasingly seek innovative, compact, and portable devices, the need for flexible electronics that can offer enhanced functionality and design versatility is growing. Flexible circuits and displays are crucial in developing cutting-edge smartphones, wearables, and other smart devices that require lightweight, durable, and bendable components. This demand surge is pushing manufacturers to invest in advanced flexible electronic technologies, thereby accelerating market growth and fostering technological advancements in the consumer electronics sector.

Flexible Electronics & Circuit Companies:

• Samsung Group (South Korea),
• LG Corp. (South Korea),
• Panasonic Corporation (Japan),
• The 3M Company (US),
• Konica Minolta Inc. (Japan),
• First Solar, Inc. (US),
• E Ink Holdings (Taiwan),
• PragmatIC Printing Ltd. (UK),
• Blue Spark Technologies, Inc. (US), and
• BrightVolt Technologies (US)

By Application, OLED lighting segment is expected to record the highest CAGR during the forecast period

The OLED lighting segment of the flexible electronics market is poised to record the highest CAGR during the forecast period, driven by its burgeoning application in the automotive industry. High-end car manufacturers such as General Motors, Tesla, and Audi are increasingly adopting flexible OLED lighting solutions due to their superior design flexibility, energy efficiency, and enhanced aesthetics. Additionally, the presence of prominent lighting solution manufacturers like Acuity Brands, LG Display, and OSRAM is set to further boost the market. These companies are investing in innovative OLED technologies, propelling the growth of the flexible electronics market for OLED lighting in automotive and other applications.

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By Vertical, automotive is projected to grow at highest CAGR during forecast period

The automotive vertical is poised to experience the highest compound annual growth rate (CAGR) during the forecast period, driven primarily by the integration of flexible displays and OLED lighting panels in vehicles. Major automotive manufacturers, including Ford, General Motors, Nissan, Toyota, BMW, and Audi, are increasingly adopting flexible lighting solutions to enhance vehicle design and functionality. A notable example of this trend is the collaboration between LG and Hyundai, aimed at incorporating advanced flexible displays into electric vehicles, which underscores the industry's commitment to innovation. This surge in demand for flexible displays and lighting is set to propel significant market growth, reflecting a transformative shift in automotive technology and design aesthetics.

By Region, APAC Flexible electronics & circuit market estimated to grow at highest CAGR throughout the forecast period

In 2020, the Asia-Pacific (APAC) region dominated the flexible electronics market, owing to the presence of leading industry players such as Samsung Group, LG Corp., Panasonic Corporation, and Konica Minolta Inc. These companies have secured a substantial market share, driving significant growth in the region. Looking ahead, the flexible electronics market in North America is anticipated to achieve the highest compound annual growth rate (CAGR) from 2021 to 2026. This robust growth is fueled by the increasing establishment of high-technology industries dedicated to flexible electronics, particularly for military applications. Innovative U.S. states are spearheading this trend by setting up specialized research centers focused on advancing flexible and printed electronics, positioning North America as a future leader in the field.

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