New York, United States , July 15, 2024 (GLOBE NEWSWIRE) -- The Global Flexible Substrate Market Size is to Grow from USD 650.62 Million in 2023 to USD 2520.19 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 14.50% during the projected period.
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Flexible substrate is the most prominent place where flexible electronic technology is different from traditional electronic technology, and it is a key component of flexible electronic devices. Flexible substrates provide the same strength, cost, and insulating characteristics as traditional rigid substrates. In addition to shared features, flexible substrates have unique properties of their own. For flexible electrical devices to be used, the flexible substrate needs to have all of the characteristics at the same time such as lightness, transparency, flexibility, stretchability, insulation, and corrosion resistance. Tiny printed circuit boards (PCBs), which transmit signals between control prompts and screens and are used in many electronics and computing devices, usually use flexible substrates. Owing to its flexibility and resilience, the material finds application in small devices and rigorous work environments that frequently involve vibration and elevated temperatures. Furthermore, due to several advantages, such as dependability, affordability, and performance, the market for flexible substrates a vital component of flexible displays is anticipated to grow considerably. Due to the entry of the flexible electronics industry, it is projected that the market will rise substantially over the next few years. Furthermore, devices are intended for obtaining high-resolution images and scaling large regions in the display sector. Electronic innovations that provide a form factor that is flexible enough to allow the use of durable, lightweight, and adaptable applications without compromising device performance can positively impact market demand. However, better temperature-resistant substrates are more expensive to produce, which limits the applications they can be utilized for and inhibits the growth of the global flexible substrate market.
Browse key industry insights spread across 197 pages with 120 Market data tables and figures & charts from the report on the "Global Flexible Substrate Market Size, Share, and COVID-19 Impact Analysis, By Type (Metal, Glass, and Plastic), By Application (Consumer Electronics, Aerospace & Defense, Medical & Healthcare, Solar Energy, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The plastic segment is anticipated to hold the greatest share of the global flexible substrate market during the projected timeframe.
Based on the type, the global flexible substrate market is divided into metal, glass, and plastic. Among these, the plastic segment is anticipated to hold the greatest share of the global flexible substrate market during the projected timeframe. Plastics are polymers that are used widely due to they are inexpensive, lightweight, and unbreakable. Examples of these polymers are polyimides and polyethylene terephthalate. Its lighter weight also makes it a popular choice for electrical and technological gadgets. Even after being subjected to temperatures as high as 300 degrees Celsius, the product retains its dimensions and is incredibly resistant to chemicals.
The medical & healthcare segment is anticipated to grow at the fastest pace in the global flexible substrate market during the projected timeframe.
Based on the application, the global flexible substrate market is divided into consumer electronics, aerospace & defense, medical & healthcare, solar energy, and others. Among these, the medical & healthcare segment is anticipated to grow at the fastest pace in the global flexible substrate market during the projected timeframe. Flexible substrates play a critical role in the development of wearable medical devices in the healthcare and medical sectors, including health monitors and biosensors that offer comfortable patient monitoring. Medical imaging devices, flexible healthcare displays, and fixed medical instruments are also supported on these substrates. As technology advances, so does the need for flexible solutions, requiring ongoing study and innovation. Flexible substrates might find extensive use in medical technology throughout the anticipated period, potentially leading to advances in patient care and diagnostics.
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North America is expected to hold the largest share of the global flexible substrate market over the forecast period.
North America is expected to hold the largest share of the global flexible substrate market over the forecast period. Due to its quick uptake of advanced electronic products, North America leads the world market for flexible substrates. The expanding automotive, medical device, and consumer electronics industries in the region have resulted in a significant need for flexible substrates. This growth strengthens North America's position as the main driver defining and shaping the trajectory of the worldwide market for flexible substrates.
Asia Pacific is predicted to grow at the fastest pace in the global flexible substrate market during the projected timeframe. China's market is expected to account for a large share of the region's revenue, with India's market expected to rise at the fastest rate throughout the projected timeframe. The availability of skilled labor, low wages, rising solar energy consumption, a notable increase in electronics manufacturing, and the general acceptance of their use in healthcare and medicine are some of the primary factors driving the expansion of flexible substrates in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Flexible Substrate Market are Ube Industries, Ltd, DuPont, 3M Company, Panasonic Corporation, Schott, Fuentek Kolon LLC, Dow, Jiangsu SuCushi Technology Co, Nippon Electric Glass Co, DuPont Teijin Films, BenQ Materials Corporation, Sheldahl Corporation, Polyonics and Other Key Vendors.
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Recent Developments
- In April 2022, Nippon Electric Glass Succeeds in Melting Glass Using Hydrogen-Oxygen Burner Combustion Technology.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Flexible Substrate Market based on the below-mentioned segments:
Global Flexible Substrate Market, By Type
- Metal
- Glass
- Plastic
Global Flexible Substrate Market, By Application
- Consumer Electronics
- Aerospace & Defense
- Medical & Healthcare
- Solar Energy
- Others
Global Flexible Substrate Market, Regional Analysis
-
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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