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Global Flexible Substrates Market Scenario, Strategies, Growth Factors and Forecast 2028 | Growth Market Reports

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The Global Flexible Substrates Market is expected to expand at a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to rising demand for printed electronics technologies.

Flexible substrate is a thin, heat resistant material that is made of polymers such as polyethylene terephthalate and polyimide. In many electronics and computing devices, small printed circuit boards (PCBs) that transfer signals between screens and control prompts are made of flexible substrates. The most commonly used material for flexible substrates includes stainless steel, glass, and plastic.

Global Flexible Substrates Market Segment Insights:

On the basis of applications, the global flexible substrates market is segregated as medical & healthcare, automotive, consumer electronics, energy, defense & aerospace sector, and utility & power. The consumer electronics segment is expected to expand at a robust CAGR during the forecast period. Constant development of substrate materials to provide flexible, transparent, and glass like permeability in electronic devices, is estimated to expand the market demand during the forecast period. Flexible substrates such as flexible barrier films protect electronic components from damage by environmental factors, water, and oxygen.

Opportunities associated with development of accessible and cost-efficient flexible electronic devices is expected to drive the market demand. Developments relating to substrate material and technology in order to match the flexibility with electronic devices may open opportunities for the flexible substrate market. Rapid rise in the use of flexible substrates in various commercial electronic appliances and increase in the number of solar projects is expected to raise the demand for flexible substrates in the region.

The automotive segment began using flexible substrates, due to rising dependence on computing technology in automobiles. With the arrival of smart cars, automakers require different ways to include smart components in the automotive appliances without adding any extra weight to the vehicle. The medical & healthcare segment is expected to expand at a robust CAGR, owing to the flexible nature and small size of PCBs made with flexible substrates, which are crucial in developing devices used in the medical industry. Flexible substrates are used in everything from electronic implants to surgical tools.

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Market Trends, Drivers, Restraints, and Opportunities:

  • Improvements in flexible medical devices and increasing acceptance of electronic-based integrated circuit (IC) designing method is projected to drive the market during the forecast period.
  • Rising need for organic light emitting diodes is anticipated to propel the market.
  • Extensive use of flexible substrate materials in photovoltaics is expected to increase the market demand.
  • Flexible substrates are anticipated to gain importance, due to the advantages offered by them, such as reliability, price, and performance.
  • Flexible electronic devices are unbreakable, lighter than glass, and are silicon-based electronic devices. These factors are anticipated to fuel the market.
  • Developments and upgradations in electronic devices such as making them lightweight, versatile, and robust is estimated to boost the market.
  • Stringent government regulations may hamper the market growth.
  • Growing demand for flexible, organic, and printed electronics is a major factor driving the market growth.
  • Electronics, printing sensors, and low cost of fabrication of flexible substrates are expected to propel the market.

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