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Edition: 19; Released: February 2022
Executive Engagements: 5209
Companies: 61 – Players covered include 3M Company; BASF SE; Blue Spark Technologies; BrightVolt, Inc.; Cymbet Corporation; Dai Nippon Printing Co., Ltd.; E Ink Holdings, Inc.; Fujikura Ltd.; Japan Display Inc.; LG Electronics, Inc.; Multi-Fineline Electronix, Inc. (MFLEX); Nippon Mektron, Ltd.; Nitto Denko Corporation; Plastic Logic Germany; Pragmatic Printing Ltd.; Samsung Electronics Co., Ltd.; Sumitomo Electric Industries, Ltd.; Thin Film Electronics ASA; Zhen Ding Technology Holding Limited (ZDT) and Others.
Coverage: All major geographies and key segments
Segments: Component (Electronic Displays, Batteries, Other Components); Application (Consumer Electronics, Automotive, Energy & Power, Medical & Healthcare, Defense & Aerospace, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; South Korea; Taiwan; Rest of Asia-Pacific; Latin America; Rest of World.
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Global Flexible Electronics Market to Reach $44.8 Billion by 2026
Flexible electronics is a technology that allows fabrication of electronic circuits on flexible substrates, thus making them bendable and stretchable. Flexible electronics is a progressive technology that aims to facilitate development of electronic systems in folded, curved, rolled, bent and stretched designs, while addressing the issues and challenges persisting in manufacture of miniature, compact and portable devices. Initially perceived as a futuristic concept, flexible electronics is gradually making its presence felt in various application markets. Flexible electronics integrate flexible passive components and active components in electronic system processing and are made in various forms such as displays, batteries, sensors, memory and photovoltaics (PV) among others. With the exception of the substrate itself, which needs to be flexible, flexible electronics can be manufactured by using similar materials and components as used for rigid large-area electronics. Flexible electronics generally use ultra-thin and ultra-light substrates such as plastic films, glass, metal foils, and fabrics.
Amid the COVID-19 crisis, the global market for Flexible Electronics estimated at US$22 Billion in the year 2022, is projected to reach a revised size of US$44.8 Billion by 2026, growing at a CAGR of 18.6% over the analysis period. Electronic Displays, one of the segments analyzed in the report, is projected to grow at a 18.1% CAGR to reach US$31.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Batteries segment is readjusted to a revised 22.2% CAGR for the next 7-year period. This segment currently accounts for a 4.8% share of the global Flexible Electronics market. The strong demand for flexible displays is expected to increase the penetration of e-paper displays in applications requiring flexible screens capable of surviving under external stress. In addition, flexible e-paper displays hold an immense potential to revolutionize designs of electronic systems as well as make them more portable and durable. The e-paper display market is anticipated to receive a major impetus from adoption of flexible displays with wider viewing angles. Flexible batteries are gaining traction amid growing emphasis on innovative battery solutions incorporating energy-efficient, compact, extended lifetime, and shorter charging cycle features.
The U.S. Market is Estimated at $3.8 Billion in 2022, While China is Forecast to Reach $18.1 Billion by 2026
The Flexible Electronics market in the U.S. is estimated at US$3.8 Billion in the year 2022. The country currently accounts for a 18.11% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$18.1 Billion in the year 2026 trailing a CAGR of 22.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.3% and 15.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.4% CAGR while Rest of European market (as defined in the study) will reach US$21.5 Billion by the close of the analysis period.
Large-scale governmental R&D funding programs in countries such as Japan, China, Taiwan, South Korea and the EU along with sustained R&D efforts from research entities and electronics & material technologies enterprises is poised to drive momentum in the market. On the other hand, increased emphasis on low-footprint, ultra-thin, low-volume materials in electronics manufacturing, and expected proliferation of next generation technologies such as wearables, smart healthcare products, and advanced PV platforms would steer momentum in the market. The market would remain a key beneficiary to increased appetite among electronics manufacturers towards enhancing design and functionality of smartphones, tablets and TVs with unique flexible solutions. At the same time, flexible electronics stand to benefit from growing interest in ‘Smart’ concepts such as ‘Smart City’, ‘Smart Home’, ‘Smart Building’, and ‘Smart Factory’, all of which leverage a sensor-driven, inter-connected Internet of Things (IoT) environment encompassing various electronic solutions lounging in the building or area. The IoT environment typically requires low-power and low-footprint electronic solutions with extended battery life and economical and eco-friendly operation. Flexible electronics can fully suffice these requirements to be a highly viable platform for IoT roll out programs.
Consumer Electronics End-Use Segment to Reach $29.1 Billion by 2026
Consumer electronics constitutes the largest end-use sector for flexible electronics, primarily because of increased use of flexible displays in the thriving product markets of smartphones, tablets, and LED and OLED TVs. At the same time, increased consumer penchant for wearable devices such as smart watches and smart glasses is steering demand for flexible electronics within the consumer electronics segment. Wearables, finding use in healthcare, fitness and activity monitoring applications for monitoring health, tracking heart rate, sleep, and physical activity and also for infotainment applications, are expected to be the primary device category for future growth of flexible electronics. Consumer Electronics end-use segment is estimated at US$13.8 Billion in 2022, and is projected to reach US$29.1 Billion by 2026 reflecting a compounded annual growth rate of 19.9% over the analysis period. China constitutes the largest regional market for Consumer Electronics segment, accounting for 35.4% of the global sales. China is poised to register the fastest compounded annual growth rate of 23.6% over the analysis period, to reach US$14.9 Billion by the end of the analysis period. More
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