New Delhi, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The global FPC for smartphone market is projected to hit the market valuation of US$ 6,569.99 million by 2032 from US$ 4,263.87 million in 2023 at a CAGR of 5.25% during the forecast period 2024–2032.
The FPC for smartphone market in 2023 presents a dynamic landscape with significant growth opportunities driven by technological advancements and increasing smartphone adoption. With an estimated nearly 1.5 billion smartphones sold in 2023, the demand for FPCs remains robust. The rise of 5G technology, with over 600 million 5G-enabled smartphones shipped in 2023, requires advanced FPCs to handle higher data speeds and connectivity needs. Wherein, emerging markets, particularly in Asia-Pacific regions like India and Southeast Asia, are experiencing rapid smartphone adoption, adding over 100 million new users in 2023. This expansion offers substantial growth prospects for FPC manufacturers. The development of new smartphone features, such as high-refresh-rate displays and integrated biometric systems, relies heavily on advanced FPCs. Industry investment in flexible electronics research and development exceeded $1.2 billion in 2023, reflecting a commitment to innovation.
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Collaborations between tech giants and FPC producers are strengthening market positions. Partnerships between companies like Apple and leading FPC suppliers resulted in customized circuits for forthcoming devices. The foldable smartphone segment alone is projected to drive FPC market growth by an additional $1 billion by 2025, with over 10 million foldable units expected to be sold annually. Advancements in materials science have led to more cost-effective and durable FPC solutions, potentially reducing production costs by up to $3 per unit.
Key Findings in FPC for Smartphone Market
| Market Forecast (2032) | US$ 6,569.99 million |
| CAGR | 5.25% |
| Largest Region (2023) | Asia Pacific (57.68%) |
| By Type | Double Layer (47.38%) |
| By Application | Non-Foldable Smartphones (98.49%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Surging Demand for Multi-Layer FPCs are Unlocking the Next-Gen Smartphone Potential at a CAGR of 5.65%
The global FPC for smartphone market is witnessing a significant surge in the demand for multi-layer flexible printed circuits (FPCs) for smartphones, driven by the increasing complexity and functionality of modern devices. Multi-layer FPCs, which consist of three or more conductive layers, enable higher circuit density and allow for more intricate electrical connections within the limited space of a smartphone. This technology supports advanced features such as high-resolution cameras, biometric sensors, and 5G connectivity. For instance, the integration of 5G requires additional antennas and processing power, which multi-layer FPCs can accommodate without increasing device size.
Industry projections indicate that the multi-layer FPC segment in the global FPC for smartphone market is poised for substantial growth, with a CAGR of 5.65% in the coming years. This growth outpaces that of double-layer FPCs, highlighting a shift towards more sophisticated circuit solutions. The rise in demand is further fueled by the global rollout of 5G networks and the consumer appetite for feature-rich smartphones. Advanced models are incorporating upwards of 10 cameras and sensors, all of which rely on the compact and efficient design of multi-layer FPCs to function seamlessly.
Several factors contribute to the accelerated growth of the multi-layer FPC segment. Technological advancements in manufacturing have made the production of multi-layer FPCs more cost-effective and reliable. The miniaturization trend in electronics necessitates components that can deliver enhanced performance without increasing in size. Multi-layer FPCs meet this requirement by offering increased functionality and flexibility. Additionally, the rise of emerging technologies such as foldable phones and wearable devices is creating new applications for multi-layer FPCs. As smartphones continue to evolve, the demand for multi-layer FPCs is expected to expand, solidifying their role as a critical component in the future of mobile technology.
Dominance of Non-Foldable Smartphones Shaping the FPC Market's Opportunity Outlook by Capturing over 98.4% Market Share
Non-foldable smartphones continue to dominate the FPC for smartphone market, presenting significant opportunities for growth and innovation. With global smartphone shipments reaching over 1.3 billion units annually, the vast majority of these devices are non-foldable models. These smartphones rely heavily on FPCs for critical functions, utilizing them in displays, cameras, antennas, and other components that require flexible connectivity in compact spaces. The standard design of non-foldable smartphones allows for optimized production processes and economies of scale in FPC manufacturing, leading to reduced costs and increased accessibility for consumers worldwide.
The opportunity outlook for FPC for smartphone market in non-foldable smartphones remains robust as manufacturers incorporate more advanced features into their devices. The integration of technologies such as high-resolution multi-camera systems, augmented reality capabilities, and advanced biometric security increases the complexity and quantity of FPCs required per device. For example, premium smartphones may contain over 15 FPCs to support various functions, highlighting the critical role of FPCs in device performance. The ongoing deployment of 5G networks also amplifies this demand, necessitating additional FPCs to handle higher data speeds and enhanced connectivity. As consumer expectations for functionality and performance rise, the FPC market is positioned to capitalize on these trends, ensuring non-foldable smartphones maintain their dominant position in driving market growth.
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Unraveling Nippon Mektron's 17.95% Grip on the Asia-Pacific Smartphone FPC Market
Zhen Ding Technology Holding Limited, InterFlex, Sumitomo Electric Industries, Ltd., Nitto Denko Corporation, Fujikura Ltd., Multek, Si Flex, Nippon Mektron are top 8 producers in the FPC for smartphone market. They are collectively holding over 35% market share. However, the Nippon Mektron is alone capturing over 17.95% market share.
Nippon Mektron's significant market share of over 17.95% in the flexible printed circuits (FPC) for smartphones market is a result of its advanced technological capabilities and strong industry relationships. As a pioneer in FPC technology, Nippon Mektron has consistently invested in research and development, enabling it to produce high-quality, reliable, and innovative FPC solutions that meet the evolving demands of smartphone manufacturers. The competitive landscape of the FPC for smartphone market is intense, driven by the rapid advancements in smartphone technology and the constant demand for thinner, more flexible, and more durable components. Companies compete on factors such as innovation, quality, production capacity, and strategic partnerships. The market is primarily concentrated in the Asia-Pacific region due to the presence of leading electronics manufacturers, well-established supply chains, and the availability of skilled labor. Countries like China, Japan, and South Korea have become global hubs for smartphone production, which in turn has attracted FPC manufacturers to establish operations in the region to reduce lead times and logistics costs.
Nippon Mektron targets the Asia-Pacific region by strategically positioning its production facilities close to major smartphone manufacturers. The company operates multiple high-capacity manufacturing plants equipped with state-of-the-art technology to efficiently meet regional and global demand.
Global FPC for Smartphone Market Key Players
- Nippon Mektron
- Zhen Ding Technology Holding Limited
- InterFlex
- Sumitomo Electric Industries, Ltd.
- Nitto Denko Corporation
- Fujikura Ltd.
- Multek
- Si Flex
- Career Technology MFG Co Ltd
- Flexium Interconnect Inc.
- Luxshare Precision Industry Co., Ltd.
- Stemco
- Other Prominent Players
Key Segmentation:
By Type
- Single Layer
- Double Layer
- Multi Layer
By Application
- Foldable
- Non-Foldable
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
- South America
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