Flexible electronics help design devices that can adapt, conform, and flex. They are broadly used in displays, lighting, memory devices, batteries, sensors, medical devices, and more. Flexible electronics offer lightweight, durable, and cost-effective alternatives to conventional rigid electronics. The global Flexible Electronics Market is estimated to be valued at US$ 30.71 Bn in 2024 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 key trends:
The growth of the flexible electronics market is primarily driven by emerging technological innovations leading to new product developments and applications. Major players are focusing on R&D activities to develop enhanced flexible displays, circuits, and batteries that can be integrated into foldable and wearable devices. For instance, in 2022, LG Display developed a new plastic OLED screen technology that offers high resistance to bending, folding, and impact compared to silicon-based displays. The company aims to provide flexible displays for applications such as laptops, tablets, smartphones, monitors, and automotive panels. Similarly, in 2021, researchers from Northwestern University developed a new flexible electronic device that can generate energy from mechanical motion such as body movements. Such innovative technologies are widening the scope of flexible electronics and fueling the market growth over the forecast period.
Segment Analysis
The global flexible electronics market is segmented based on applications into sensors, displays, memory, energy harvesting, and others. The display segment dominates the market and accounted for highest revenue share in 2024 due to increasing demand for flexible displays in smartphones and consumer electronics. Flexible displays provide options for rollable, foldable, stretchable display units and allows design of curvy surfaces.
SWOT Analysis
Strengths: Growing demand for flexible displays in automotive, consumer electronics and biometric devices. Flexible electronics find wide usage in applications requiring lightweight, portable and durable products.
Weaknesses: High production costs and lack of mass manufacturing capabilities limit widespread adoption. Certain flexible electronics have shorter lifespans compared to rigid counterparts.
Opportunities: Emerging applications in healthcare monitoring, smart packaging and Internet of Things present significant market potential. Growing focus on developing bendable, foldable and stretchable electronics.
Threats: Stringent regulations around usage of specialty materials impact commercialization timelines. Shift towards diversifying supply chains to reduce dependency on limited raw material sources.
Key Takeaways
The Global Flexible Electronics Market is expected to witness high growth over the forecast period supported by growing demand for wearables, foldable devices and medical devices.
Regional analysis: Asia Pacific dominates the global flexible electronics market and is expected to maintain its leading position during the forecast period supported by presence of flexible electronics manufacturing hubs in countries like China, South Korea and Taiwan. China represents the largest producer and consumer of flexible electronics products globally.
Key players: Key players operating in the flexible electronics market are Samsung, LG Electronics, Solar Frontier, Blue Spark Technologies, Cymbet, Konica Minolta, Panasonic, OLEDWorks, and DuPont. Samsung is the global leader in flexible AMOLED displays leveraging its capabilities in electronics manufacturing. LG also focuses on developing innovative flexible and rollable displays for various consumer products.
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