Escalating demand for printed electronics technologies is anticipated to be a prime factor driving the global flexible substrates market. Developments in flexible medical instruments paired with growing acceptance of electronics-based IC designing methods for non-invasive monitoring devices is anticipated to fuel the global flexible substrates market growth over the next few years. Rising necessity for organic light emitting diodes (OLED) may further spur the flexible substrates market growth. Additionally, OLEDs are extensively utilized in building white light panels for making efficient displays and lighting them, which may further stimulate the flexible substrates market growth. Rife usage of flexible substrate materials in discovery of photovoltaic may also fuel market demand.
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Flexible substrate is anticipated to witness substantial growth over the forecast period. This may be attributed to its wide usage as a chief component in flexible displays because of its high reliability, superior performance and price. Further, the initiation of flexible electronics market is apprehended to extensively drive the flexible substrates market significantly over the forecast period. Further, advancements in the display industry pertaining to latest products & technology focussing on scaling-to-large-areas and implementing high-resolution images is also anticipated to surge demand for 3-D flexible substrates market over the next few years. Flexible barrier films, type of flexible substrates protects the electronic parts from degradation due to water, oxygen and various environmental factors. Technologically advanced electronic devices offer flexible form which facilitates robust, lightweight and versatile application use which may favourably impact market demand.
Surging demand across a broad range of application segments such as consumer electronics, defence & aerospace sector, automotive, energy, power & utility, medical & healthcare is also apprehended to be a key factor driving the flexible substrates market demand. However, severe rules & regulations may impede market growth. In addition, cost concerns of flexible substrates may lead to low penetration in their introductory phase. However, technological advancements in substrate materials so as be compatible with electronic devices may open avenues for the market. Further, notable opportunities pertaining to expansion of scalable and cost efficient flexible electronic devices may further catapult market demand over the next few years.
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North America is anticipated to gain maximum market share in the global flexible substrates market owing to development of advanced electronic technologies in this region. Further, Asia Pacific is anticipated to witness high growth over the forecast period. This may be accredited to factors such as rising manufacturing services and the accessibility of skilled & inexpensive labour.
Key vendors dominating the global flexible substrates market include BenQ Materials Corporation, Heraeus Materials Technology GmbH & Co. KG, Griff Paper and Film, Polyonics, Inc., American Semiconductor, E.I. DuPont de Nemours and Company, 3M Company, Griff Paper and Film, SCHOTT North America, Inc., Arlon Graphics LLC, Porex Corporation and Rogers Corporation.
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