May 18, 2024
Flexible Electronics Market

The Flexible Electronics Market Driven By Rising Demand For Flexible Devices

Flexible electronics are gaining popularity due to their potential applications in various end-use industries such as consumer electronics, healthcare, automotive, and others. Flexible electronics products such as electronic display devices, electronic skins, flexible sensors, and thin-film photovoltaics are increasingly finding uses in many everyday products such as wearable devices, e-textiles, and implantable medical devices. Flexible sensors are used in health monitoring devices and thin and flexible displays are used in mobile phones, tablets, laptops, televisions, and other consumer electronic devices.

The global flexible electronics market is estimated to be valued at US$ 30.71 billion in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The adoption of emerging technologies and manufacturing techniques are driving advancements in the flexible electronics market. Technologies like printed and thin-film electronics are enabling the production of flexible devices with significantly reduced thickness, weight, and rigidness as compared to traditional silicon-based electronics. Printed electronics technologies such as screen, gravure, and inkjet printing allow for manufacturing electronic circuits on flexible plastic and other polymer substrates instead of rigid silicon wafers. Advancements in printed and flexible electronics are enabling the development of novel products in consumer electronics and medical devices applications. The growing application of flexible electronics in automotive, aviation, and aerospace industries is also fueling market growth. Auto and aircraft manufacturers are exploring the potential uses of bendable displays, sensors, and batteries to meet the demand for lightweight and efficient vehicles.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as high initial investments and technological expertise are required to enter the flexible electronics market.

Bargaining power of buyers: The bargaining power of buyers is high as the market has various product options from different manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers of raw materials in the flexible electronics market.

Threat of new substitutes: The threat of substitutes is low as flexible electronics offer unique features compared to rigid electronics.

Competitive rivalry: The competitive rivalry is high due to the presence of many global and regional players competing on the basis of product quality, innovation, and pricing.

Key Takeaways

The Global Flexible Electronics Market is expected to witness high growth.

Regional analysis: Asia Pacific is projected to be the fastest growing market for flexible electronics during the forecast period. This can be attributed to growing electronics industry and presence of major players in countries like China, Japan, South Korea, and India.)

Key players operating in the flexible electronics market are Samsung, LG Group, DuPont, 3M Company, Panasonic, Konica Minolta, and first solar.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it