Surging demand for printed electronics technologies is expected to be the key force driving the global flexible substrates market. Flexible substrates are ultra-thin and ultra-light base components on which electronic devices are deposited while assembling electronic circuits in order to fabricate light weight flexible electronics. The most commonly used material for flexible substrates include glass, plastic and stainless steel. Advancements in flexible medical devices coupled with rising adoption of electronics-based IC designing methods for non-invasive monitoring devices is expected to drive the global flexible substrates market over the forecast period. Growing need for organic light emitting diodes (OLED) is further estimated to impel the flexible substrates market growth. OLEDs are widely used in creating white light panels for lighting and making aesthetically pleasing as well as efficient displays, and may further fuel the flexible substrates market growth. Widespread use of flexible substrate materials in exploration of photovoltaic may also catapult market demand.

Flexible substrate is expected to gain prominence as a key component of flexible displays owing to several benefits including performance, reliability, and price. Further, flexible electronic devices such as display logic/memory, sensor, lighting, battery and solar cells are lighter and unbreakable as compared to the existing silicon and glass-based electronics devices. The advent of flexible electronics market is expected to drive the flexible substrates market significantly over the next few years. Further, developments across the display industry in terms of technology and products focused on scaling-to-large-areas and realizing high-resolution images is also expected to upsurge demand for 3-D flexible substrates market. Flexible substrate such as flexible barrier films safeguard the electronic components from degradation caused due to oxygen, water and other environment factors. Advancements in electronic devices offering flexible form which aids lightweight, robust and versatile application usage without compromising performance of the device may positively impact market demand.

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Escalating demand across a wide range of application areas including automotive, medical & healthcare, consumer electronics, defense & aerospace sector, energy, power & utility is also expected to be a key force that drives the flexible substrates market demand. Further, growing demand for organic, flexible and printed electronics is a crucial factor spurring the flexible substrates market growth. Moreover, continuous development of substrate materials in order to facilitate transparent, flexible and glass like permeability properties to the electronic device is also anticipated to spur market demand over the next few years. However, stringent regulations may hamper market growth. Additionally, flexible substrates being in the introductory phase may expect low penetration due to their cost. Advancements pertaining to substrate material and technology in order to match encapsulation flexibility with the electronic devices may open avenues for flexible substrates market. Further, remarkable opportunities are associated with development of scalable and cost efficient flexible electronic devices, which may also drive the market demand over the forecast period.

North America is expected to dominate the global flexible substrates market on account of enhanced electronic technologies in this region. Asia Pacific is also expected to gain prominence over the next few years. This may be attributed to factors such as growing manufacturing facilities coupled with the availability of skilled & low-cost labor. In addition, enhancing electronics technologies in Japan, China and India is expected to stimulate regional market growth in the near future.

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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