Global flexible electronics market analysis and insights
The global Flexible Electronics market estimated at US$24.29 billion in the year 2022 is now projected to grow at a CAGR of 18.92% and reach US$81.72 billion by 2028, driven by several key factors and teeming with future opportunities. The increasing adoption of flexible displays in consumer electronics, such as smartphones and wearables, has created a strong demand for lightweight and bendable electronic products. Additionally, healthcare applications, automotive innovations, and the burgeoning Internet of Things (IoT) sector rely on flexible electronics, presenting substantial growth prospects. Moreover, the aerospace and defense industries, as well as the sustainability movement, are leveraging the benefits of flexible electronics in various applications, further fueling market expansion.
The miniaturization trend, coupled with the need for portable electronic solutions, is another growth driver, while emerging technologies like quantum dots and organic electronics promise enhanced performance and functionality for flexible devices. As the market matures, the establishment of regulatory and safety standards will create new business opportunities for compliance services. The flexible electronics market growth is underpinned by a convergence of technological advancements, consumer demands for innovation, and the quest for sustainability, making it a promising space for businesses willing to invest in research, development, and adaptation to evolving market needs.
Furthermore, competition in the flexible electronics market is intensifying as companies seek to differentiate themselves through product performance, cost-effectiveness, and sustainability. To succeed in this competitive landscape, businesses need to focus on quality, innovation, and the ability to adapt to changing market demands. Collaboration and partnerships between established players and startups are also common, fostering an environment of continuous innovation and market growth.
Flexible electronics regional market insights
North American flexible electronics market is expected to grow significantly over the forecast period 2022-2028. This growth can be attributed to the increasing demand for wearable electronic devices and the adoption of flexible displays in consumer electronics. United States contributed around 78% of the total North American flexible electronics market. It is estimated to have a market value of US$4.12 billion in the year 2022. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 16.83% and 14.22% respectively over the 2022-2028 period.
Asia Pacific flexible electronics market is anticipated to witness an upsurge owing to the rapid industrialization and urbanization in developing countries like China and India. Moreover, the market is being driven by high R&D expenditure by major players, combined with efforts to commercialize flexible electronic components at affordable prices. China is expected to dominate the Asia-Pacific market and reach a market size of US$34.66 billion by 2028.
Within Europe, Germany, France, Italy and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 17.08% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players
Key players profiled in the report include 3M Co., BASF SE, Blue Spark Technologies, Buhler Group, Cicor Group, Dai Nippon Printing Co. Ltd., DuPont, E Ink Holdings Inc., Ensurge Micropower ASA, FlexEnable Technology Limited, Fujikura Ltd., Japan Display Inc., LG Electronics, Nippon Mektron Ltd., Nitto Denko Corp., Plastic Logic Germany, Pragmatic Semiconductor, Samsung Electronics Co., Ltd., Sumitomo Electric Industries Ltd., Suzhou Dongshan Precision Manufacturing Co.,Ltd (DSBJ), and Zhen Ding Technology Holding Ltd., among others.
Competitive Landscape
October 25, 2023 – Ensurge Micropower announced that it has signed an agreement for its solid-state lithium microbattery technology that extends its growing roster of strategic partnership engagements into the medical-device industry. The solid-state lithium microbattery technology is being similarly evaluated by six other manufacturers and the company remains on track to enter volume production by the end of the year.
July 05, 2023 – EUROPRACTICE Multi-Project Wafer (MPW) services will now offer flexible integrated circuit fabrication from Pragmatic Semiconductor, headquartered in Cambridge, UK.
Flexible electronics market scope
- By product category
- Flexible displays
- Flexible batteries
- Flexible sensors
- Photovoltaics
- Others
- By technology
- Flexible circuits
- Printing technologies
- Flexography
- Ink-jet printing
- Aerosol jet printing
- Screen printing
- Others
- Manufacturing techniques
- Others
- By material
- Flexible substrates
- Polymers
- Flexible glass
- Papers
- Others
- Conductive materials
- Silver nanoparticles
- Carbon nanotubes
- Graphen
- Metal foils
- Others
- Semiconductor materials
- Inks
- Others
- Flexible substrates
- By application
- Electronics
- Consumer electronics
- Commercial or industrial electronics
- IT and telecommunication
- Medical and healthcare
- Automotive and transportation
- Automotive
- Aerospace
- Railway
- Marine
- Buildings and construction
- Manufacturing
- Energy and power
- Others
- Electronics
- By region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
| Report Attribute | Details |
| No. of Pages | 260 |
| Published | November-2023 |
| Forecast Period | 2022-2028 |
| Estimated Market Size in 2022 | US$24.29 billion |
| Forecasted Market Size by 2028 | US$81.72 billion |
| CAGR | 18.92% |
| Regions Covered | North America, South America, Europe, Asia Pacific, Middle East and Africa |
| Companies Mentioned | 3M Co., BASF SE, Blue Spark Technologies, Buhler Group, Cicor Group, Dai Nippon Printing Co. Ltd., DuPont, E Ink Holdings Inc., Ensurge Micropower ASA, FlexEnable Technology Limited, Fujikura Ltd., Japan Display Inc., LG Electronics, Nippon Mektron Ltd., Nitto Denko Corp., Plastic Logic Germany, Pragmatic Semiconductor, Samsung Electronics Co., Ltd., Sumitomo Electric Industries Ltd., Suzhou Dongshan Precision Manufacturing Co.,Ltd (DSBJ), and Zhen Ding Technology Holding Ltd., among others. |
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
Research Methodology
