Flexible substrates are an underlying layer or substance. It is used in flexible electronics, which is a technology of assembling electronic circuits, where electronic devices are mounted on these flexible substrates.
Globally, a key factor that is driving the expansion of the flexible substrates market is the surging demand for printed electronic technologies. These printed electronic technologies are used to build electrical devices on numerous substrates. Additionally, the rising demand for Organic Light Emitting Diodes is fuelling the growth of the global flexible substrates market. The OLEDs are made up of carbon-based organic materials which emits light when electricity is applied. The main functions of OLEDs are to make efficient and beautiful displays, and to create white light panels for lighting. Further, the increasing demand for the flexible medical devices and the growing adoption of organic electronics indicate potential growth for the global flexible substrates market during the forecasted period.
Benefits such as improved performance, lower price, and reliability is expected to boost the market for flexible substrates. Moreover, flexible electronic devices, which uses flexible substrates as an intermediate material, such as solar cells, sensor, lighting, and display logic/memory are unbreakable and lighter as compared to glass and silicon based electronic devices. These above mentioned advantages increases demand for electronic devices which in turn fuels the growth of the global flexible substrates market.
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Also, the continuous development across the display industry in terms of products and technology is expected to give a boost to the demand for 3D-flexible substrates. The improvement of electronic devices offering flexible form aiding versatile, lightweight and robust application usage without significant tradeoff of the performance of the device is expected to upsurge the demand of flexible substrates.
Despite of the numerous advantages of flexible substrates, there are certain factors that restrains the growth of this market. The major among them is the stringent regulations which tends to hold back growth of the market.
The global market is segmented on the basis of types, materials used, applications, and geography.
By types the global market is sub-segmented as ultra-light and ultra-thin. By materials used the market for flexible substrates is categorized as stainless steel, plastic, and glass. On the basis of applications the global flexible substrates market is sub-divided as power, utility, energy, defense & aerospace sector, consumer electronics, medical & healthcare, and automotive. Finally, on the basis of geography the global market is characterized as North America, Asia-Pacific (APAC), Europe, Middle East & Africa (MEA), and Latin America.
By regions, North America is expected to dominate the market for flexible substrates during the forecasted period. This is because of the advanced electronic technologies in this part of the world. The U.S controls a prominent market share for flexible substrates, followed by Canada in North America. In Europe, Italy, Spain, France, U.K, and Germany holds significant share of the market. The market in Asia is expected to witness growth during the forecasted period. This is primarily because of the construction of manufacturing facilities by a large number of companies in this region. Lesser wages for skilled labor in emerging economies such as China and India is major factor attracting the attention of these companies. Within Asia, India, China and Japan are expected to be the fastest growing markets.
The key players in the global market includes Griff Paper and Film (U.S), Polyonics, Inc. (U.S), Porex Corporation (U.S), Rogers Corporation (U.S), Corning, Inc. (U.S), AzCoat, Inc. (U.S), BenQ Materials Corporation (Taiwan), Arlon Graphics LLC (U.S), 3M Company (U.S), American Semiconductor, Inc. (U.S), SCHOTT North America, Inc.(U.S), Heraeus Materials Technology GmbH & Co. KG (Germany), and E.I. DuPont de Nemours and Company (U.S).
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