Flexible Substrates Market - Forecast(2025 - 2031)

Flexible Substrates Market Overview

Flexible Substrates Market Size is forecast to reach $ 2,084.2 Million by 2030, at a CAGR of 14.8%  during forecast period 2024-2030. Flexible substrates are a thin heat resistant material made up of polymers like polyimides and polyethylene terephthalate (PET). The flexibility and durability of the material has made the use of the flexible substrate in the industrial and medical sectors for making smaller devices and for the intense working environments. Multi-layered boards with microchips, interfaces, and integrated electronic circuits are made with flexible substrates in printed electronics. Another significant distinction between PCBs created with flexible substrates and those made with rigid substrates is the small number of components required. With only a little amount of surface space, these devices can operate at high density. The growth in the market is due to the increase in the usage of flexible substrates in various sectors like, electrical and electronics, medical, automotive, aerospace, industrial and others.

COVID-19 Impact

The COVID-19 pandemic has had an immediate impact on the world economy and that impact goes across all industries. The coronavirus outbreak has already resulted in some of the greatest drops in demand in recent memory. A vast number of Flexible Substrates companies were affected by the COVID-19 pandemic in a variety of ways, and they are now focusing on long-term growth. Because the worldwide Flexible Substrates and other chemicals sectors are so important to a country's economic recovery, Flexible Substrates companies are expected to see possibilities in the near future.

Report Coverage

The report: “Flexible Substrates Market - Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Flexible Substrates Industry.

By Type: Metal, Glass and Plastic (Polyimides and Polyethylene Terephthalate (PET)).

By End Use: Automotive, Electrical & Electronics, Medical & Healthcare, Aerospace and Defense, Energy & Power, Industrial and Others.

By Geography: North America (U.S, Canada and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Netherlands, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), and RoW (Middle East and Africa).

Key Takeaways

• North America dominates the Flexible Substrates Market owing to a rapid increase in electrical & electronics and medical & healthcare sector.
• The market drivers and restraints have been assessed to understand their impact over the forecast period.
• The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
• The other key areas of focus include the various applications and end use industry in Flexible Substrates Market and their specific segmented revenue.

Figure: Flexible Substrates Market Revenue, 2020-2026 (US$ Billion)

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Flexible Substrates Market Segment Analysis - By Type

Plastic segment held the largest share of 54% in the Flexible Substrates Market in 2023. The Plastic segment consists of polymers like polyimides and polyethylene terephthalate which are highly used because of their lightweight, unbreakable material, and lower cost. And because of lower weight it is highly used in the electrical and electronics devices. The product made has a high degree of dimensional stability after exposer to extreme temperatures up to 300 degree Celsius and has a high resistance to chemicals.

Flexible Substrates Market Segment Analysis - By End Use Industry 

Electrical & Electronics industry held the largest share in the Flexible Substrates Market in 2023 at a CAGR of 14.8%  during the forecast period. The rise in the electrical & electronics industry is due to the manufacturing of new type of computing and electronics devices. The new developments are due to the flexible substrate boards which are used in the variable smart devices. The flexible substrates PCB’s are used because of thin lightweight devices like cameras, smartphones, smart watches, video recorders, tablets, and other wearable smart devices. The flexible substrates are growing with the increase in the development of LED lightings because of growing popularity for energy efficiency and energy saving. Also, the growing power electronics industry which combines the copper layer with the flexible substrates for large facility device with a higher volume of power and stress-resistance durability. Furthermore, R&D in flexible substrate will support the growth of the Flexible Substrates Market.

Flexible Substrates Market Segment Analysis - By Geography

North America dominated the Flexible Substrates Market in the year 2023 with a market share of 40%. North America is dominating the flexible substrates market due to an increase in the technological advancements in the consumer electronics industry. People are getting more technologically advanced and using different electronics which are making their life easier. Also, the regions like Europe and Asia Pacific are also leading to the growth in the industry. The growth in the Asia Pacific region is due to the increasing manufacturing unit and cheap labor cost. Currently, the Flexible Substrates industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In turn, has affected the demand and supply chain as well which has been restricting the growth in year 2023.

Flexible Substrates Market Drivers

Rise in Demand for Flexible Substrates in Different Sectors

Automation has led to the increase in demand for flexible substrate in various industries for different purposes. Flexible substrates are used in industries like electrical & electronics, medical, power, and other industrial applications. The use of flexible substrates is done to make flexible PCB’s which can be adjusted in any design form and it is lower in cost and light weight. Also, the growing demand for organic flexible printed circuits board is driving the market.

Flexible Substrates Market Challenges

Fluctuation in Raw Material Prices

The daily changing price of raw material tends to hamper the growth of the market. The rising production cost due to the different properties of substrates and higher temperature resistance leads to an increase in the cost. The different restricted properties lead to the restriction in the use of substrates in varied applications.

Flexible Substrates Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Flexible Substrates Market. Major players in the Flexible Substrates Market include:

1. Nippon Electric Glass Co.,Ltd.
2. 3M 
3. Schott
4. Kolon Industries
5. American Semiconductor
6. Teijin
7. Corning
8. Heraeus
9. Polyonics
10. Others.

Acquisitions/Technology Launches/ Product Launches

• In May 2023, Corning introduced a new glass substrate named Corning Astra Glass which is optimized for mid to large size display in tablets, notebooks, and televisions in SID’s Display week 2019. Astra Glass is specially engineered to enable highest pixel density of high-performance display.

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