The rise in the adoption of flexible displays in consumer electronics and an increase in demand for thin-film solar modules are expected to drive the growth of the flexible substrates market. The global flexible substrates market was valued at USD 405.3 million in 2018 and is expected to reach USD 838.5 million in 2026, growing at a CAGR of 9.5% during the forecast period.
Flexible substrates are adopted to significantly reduce the weight of flat panel displays and provide the ability to conform, bend or roll a display into any shape. It is an original layer or substance. It is primarily consumed in the application across flexible electronics, where electronic devices are mounted on these flexible substrates.
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The rise in the demand for electronics industry across the globe is attributed to the growth of the flexible substrate market. Flexible substrates are widely adopted in the production of flexible printed circuit boards and solar modules. In addition, the growing demand across the manufacturing of medical & healthcare devices and solar application is expected to create demand and sales across the globe throughout the forecast period. The increased adoption across the rapid growth growing consumer electronics industry is also leading to the growth of the flexible substrate market, globally. Furthermore, flexible substrates accounting for improved performance, lower price, and reliability are expected to boost the demand for the product in the market.
However, the stringent regulations and demand for conventional rigid electronic products are expected to hamper the growth of the global flexible substrates market during the forecast period. Moreover, the breakage of ultrathin glass as the substrate and the encapsulating cover are the prime challenges in the global flexible substrates market throughout the forecast period.
By Plastic Type
· Consumer Electronics
· Solar Energy
· Medical & Healthcare
Based on the type, the plastic-type segment accounted for more than 50% of the share in the global flexible substrates market in 2018
Based on application, the consumer electronics segment is expected to expected to dominate the market and grow at a CAGR of around 11% throughout the forecast period
Asia-Pacific accounted for nearly 43% share of the global flexible substrates market in 2018
In December 2015, Corning invested USD 1.3 billion in a Gen 10.5 glass manufacturing facility in Hefei, China. Moreover, the company entered into a long-term agreement with BOE Technology Group Co. Ltd (BOE)
In June 2015, Corning launched Corning EAGLE XG Slim glass of 0.4mm thickness in sizes up to Gen 8.5. It aims to provide improved performance and greater reliability for curved TV panels.
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