Flexible electronics refers to electronic devices that can be integrated on plastic substrates enabling miniaturization and lightweight design as compared to traditional silicon and rigid printed circuit boards. These include organic light-emitting diodes (OLED), thin-film photovoltaics, printable batteries, printed circuits, and flexible displays. The demand for miniaturized and lightweight electronics is rapidly increasing across consumer electronics, healthcare, automotive, and other industries. Manufacturers are focusing on developing flexible displays that can be rolled and folded enabling innovative form factors for wearables, mobile phones, and other portable devices.
The global flexible electronics market is estimated to be valued at US$ 30.71 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Miniaturization of electronics is one of the key drivers fueling the growth of the flexible electronics market. Manufacturers are continuously developing innovative product designs using organic semiconductors, printable batteries, thin-film photovoltaics, and flexible displays that can be integrated on lightweight and flexible plastic substrates. For instance, rollable displays allow for a larger display format in a small form factor enabling novel smartphone, tablet, and TV designs. Further, the advent of IoT has significantly increased the penetration of embedded sensors and wireless connectivity in electronic devices across industries. Flexible electronics offers simplified manufacturing of miniature IoT sensor nodes, electronic skins, and wearables. The growing demand for compact portable devices is expected to augment the demand for flexible electronics over the forecast period.
The increasing R&D investments by key players to explore newer flexible substrates such as graphene and develop cost-effective manufacturing technologies using printing and roll-to-roll processes will continue driving the flexible electronics market growth. However, high material costs and processing challenges associated with flexible electronics limit their application in volume-driven markets. Moreover, the ongoing trade war between the US and China has affected the prices of raw materials.
Segment Analysis
The global flexible electronics market can be segmented by type into flexible displays, flexible batteries, and flexible sensors. Among these, the flexible displays segment dominates the market and accounted for over 40% market share in 2024. Flexible displays are increasingly being used in smartphones, tablets, laptops, wearables, and other consumer electronics devices due to advantages like lightweight, thinness, durability, and flexibility. The growing demand for curved and foldable displays from the consumer electronics industry is driving the demand for flexible displays.
PEST Analysis
Political: Governments across countries are supporting the flexible electronics industry through funding in R&D projects. For instance, governments in the US, South Korea, and China are investing heavily to develop innovative technologies in the flexible displays sector.
Economic: The global flexible electronics market is expected to grow at a CAGR of 6.1% till 2030 driven by rising demand from end-use industries like consumer electronics, automotive, and healthcare. Increase in disposable incomes is increasing the demand for advanced electronics gadgets integrated with flexible electronics technologies.
Social: Advancements in flexible electronics are improving consumer experience and satisfaction. Consumers are rapidly adopting bendable and foldable mobile devices, wearables, and other electronics offering portability and convenience.
Technological: Continuous innovation and development of new materials like plastic, polymers, and paper is expanding the potential applications of flexible electronics. Technologies like roll-to-roll processing and printing methods are making mass production of flexible circuits feasible.
Key Takeaways
The Global Flexible Electronics Market Growth is expected to witness high over the forecast period of 2023 to 2030. The growing demand for lightweight, compact, and durable electronics from consumer electronics and automotive industries are fueling market growth. The global flexible electronics market is estimated to be valued at US$ 30.71 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region dominates the global flexible electronics market and is expected to grow at the fastest rate during the forecast period. Countries like China, South Korea, Japan, and India offer a huge consumer base and are global manufacturing hubs for consumer electronics. Significant investments by governments and private players in the region to develop flexible display technologies have made Asia Pacific a center for flexible electronics innovation.
Key players
Key players operating in the flexible electronics market are Ceva Logistics Ag, Kuehne + Nagel International Ag, Dhl International Gmbh (Deutsche Post Ag), Ryder System, Inc., United Parcel Service, Inc., Db Schenker (Deutsche Bahn Ag), Xpo Logistics, Inc., Dsv A/S, Nippon Express Co., Ltd.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it