Global Flexible Substrates Market Growing at A CAGR of 9.5% By 2026

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The global flexible substrates market was valued at USD 405.4 million in 2018 and is expected to reach USD 838.5 million in 2026, growing at a CAGR of 9.5% during the forecast period.

Flexible substrates are an original layer or substance. It is primarily being used across flexible electronics, where electronic devices are mounted on these flexible substrates. The flexible substrates primarily reduces the overall weight of the flat panel displays to enhance the product ability to conform, bend or roll a display into any shape. The rise in the adoption of flexible displays in consumer electronics and an increase in demand for thin-film solar modules are the main drivers for the global market in the coming years.

Moreover, the increase in demand for printed electronic technologies and rising demand for organic light-emitting diodes are further expected to raise the demand in the market. Furthermore, flexible substrates accounting for improved performance, lower price, and reliability are expected to boost the demand for the product in the market. These above-mentioned advantages increase the demand for electronic devices which in turn fuels the growth of the global flexible substrates market.

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However, the stringent regulations and demand for conventional rigid electronic products are expected to restrain the growth of the market in the coming years. The plastic type segment expected to dominate the market throughout the forecast period Based on the product, the global flexible substrates market has been segmented into plastic, glass, and metal. In 2018, the plastic-type segment accounted for more than 50% of the market share in the global flexible substrates industry due to the low cost connected with the use of flexible plastic substrates technology for the production of low-cost, flexible printed circuit boards, thus allowing enhanced output of consumer electronics.

This is anticipated to steer the market for flexible substrates during the forecast period. Based on application, the consumer electronics segment is expected to dominate the market and grow at a CAGR of around 11% throughout the forecast period Based on the application, the market has been segmented into consumer electronics, solar energy, automotive, medical & healthcare, and others.

The consumer electronics application segment accounts the largest share in the market and are expected to grow at a CAGR of around 11 % during the forecast period. The growth for the consumer electronics application segment is due to the increased adoption of flexible substrates in commercial electronics applications.

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Moreover, the rising number of solar projects in emerging economies such as India, Brazil, China, etc., to meet the demand for efficient power saving is expected to enhance the growth of the solar energy application of the flexible substrates market across the globe during the forecast period. Asia-Pacific to dominate the flexible substrates market throughout the forecast period Asia-Pacific accounted for nearly 43% share of the global flexible substrates market in 2018 and is expected to dominate the market throughout the forecast period.

The region is the dominant market in flexible substrates. The region's development in the flexible substrates sector can be ascribed to enhanced manufacturing and demand for solar energy from emerging economies, such as China, India, Mexico and Brazil. North America is anticipated to hold the highest CAGR on the global market during the forecast period. Manufacturers are investing in North American countries to fulfill consumer electronics demand.

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Company Profiles and Competitive Intelligence:

The major players operating in the global flexible substrates market are
·        Heraeus Materials Technology GmbH & Co. KG (Germany),
·        American Semiconductor, Inc. (US),
·        BenQ Materials Corporation (Taiwan),
·        Griff Paper and Film (US),
·        Polyonics, Inc. (US),
·        3M Company (US),
·        E.I. DuPont de Nemours and Company (US),
·        SCHOTT North America, Inc. (US),
·        Porex Corporation (US),
·        Arlon Graphics LLC (US),
·        among others. 

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