PORTLAND, OR – The global flexible printed circuit board market is expected to garner $27 billion by 2022, growing at a CAGR of 10.4% from 2016 to 2022, said Allied Market Research.

Asia-Pacific dominated the global market, in terms of revenue, accounting for more than 46% in 2015, followed by North America.

Demand for consumer electronic goods, Internet of Things (IoT), and FPCBs in automotive applications drive market growth, the firm says. Moreover, increase in demand for automated robots is expected to provide lucrative opportunities to market players. Multilayer FPCBs led the FPCBs market, and is expected to maintain this trend throughout the forecast period. However, the rigid-flex FPCBs segment is expected to witness significant growth in the future, owing to the compact size and low power consumption.

Among end user, consumer electronics dominated the global market in 2015, accounting for about 30% share. However, automotive electronics is expected to grow at the highest CAGR of 10.7%, owing to an increase in demand for durable devices with enhanced efficiency.

Asia-Pacific was the major revenue contributor in 2015, and is expected to maintain its dominance in the future, owing to an increase in number of electronic applications. Moreover, developments in consumer electronics and industrial systems are expected to boost the FPCBs market growth, especially in the Asian countries, such as China, Japan, Oceania, and India.

Multilayer FPCBs represent almost 30% of the total FPCBs market. In addition, demand for electronics applications and a customer shift toward compact printing to achieve better efficiency are expected to fuel adoption in the consumer electronics, automotive, and other industry sectors, said Jeshin Jayamon, research analyst, Semiconductor & Electronics Research, Allied Market Research.

LAMEA is projected to grow at the highest CAGR during the analysis period, owing to an increase in portable appliances and rise in the adoption of FPCBs in automotive applications. Moreover, technological advancements to overcome power loss issues in extreme conditions are projected to offer lucrative opportunities for market players in the near future.

In 2015, multilayer FPCBs dominated the global FPCBs market in terms of revenue, and are projected to grow at a CAGR of 10.7% during the forecast period.

Consumer electronics led the market, accounting for about 30% share in 2015.

China was the major shareholder in the Asia-Pacific FPCBs market, accounting for about 34% in 2015.