At 11.7% CAGR, Asia Pacific Flexible Electronics Market is Projected to be Worth US$ 19,079.53 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific flexible electronics market was valued at US$ 7,897.43 million in 2022 and is expected to reach US$ 19,079.53 million by 2030, registering a CAGR of 11.7% from 2022 to 2030. Growing need for flexible devices in healthcare industry and growing technological advancements are among the critical factors attributed to drive the Asia Pacific flexible electronics market growth.

The demand for flexible electronics in the healthcare industry is growing tremendously. Various consumers have already embraced wearable technology, as it helps them to learn about their heartbeat, steps for the day, sleep quality, exercise tracking, and other wellness-based information, thus helping monitor health. Besides this, other more specialized medical wearables are also witnessing significant growth as these devices can provide crucial information to medical professionals and help them provide superior care to patients. In addition to wearables, the healthcare industry has started using flex circuits because of their flexibility. Stretchable sensors, for example, healthcare professionals to make patients more comfortable while also providing specialists with valuable data. Gas sensors have also achieved amazing advances in flexible electronics.

Professionals can get a lot of information regarding biomarkers present in a patient's breath with devices that use graphene, carbon nanotubes, and flex circuits. Moreover, wearable devices such as electronic skin patches, which can adhere to the skin, can be very useful for physicians as they can attach the device to the patient’s body and send them home to resume their regular activities. The electronic skin patches can wirelessly transmit data to the physician, or this data can be collected at the end of the monitoring period. Thus, all the above factors are raising the demand for flexible devices in the healthcare industry, thereby propelling the flexible electronics market growth.

On the contrary, the high initial cost and difficulty in circuit modification hampers the growth of Asia Pacific flexible electronics market.

Based on component, the Asia Pacific flexible electronics market is segmented into display, battery, sensors, memory, and others. The display segment held 41.9% market share in 2022, amassing US$ 3,309.65 million. It is projected to garner US$ 8,322.35 million by 2030 to register 12.2% CAGR during 2022–2030.

In terms of application, the Asia Pacific flexible electronics market is segmented into consumer electronics, automotive, healthcare, industrial, and others. The consumer electronics segment held 50.7% share of Asia Pacific flexible electronics market in 2022, amassing US$ 4,006.96 million. It is anticipated to garner US$ 9,528.91 million by 2030 to expand at 11.4% CAGR during 2022–2030.

Based on country, the Asia Pacific flexible electronics market is categorized into Australia, China, India, China, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 25.4% share of Asia Pacific flexible electronics market in 2022. It was assessed at US$ 2,007.53 million in 2022 and is likely to hit US$ 5,169.25 million by 2030, registering a CAGR of 12.6% during 2022–2030.

Key players operating in the Asia Pacific flexible electronics market are Samsung Electronics Co Ltd, LG Electronics Inc, SRI International, E Ink Holdings Inc, General Electric Co, AUO Corp, and MFLEX, among others.

• In January 2023, E Ink, the originator, pioneer, and global commercial leader in digital paper technology, announced the launch of E Ink Prism™ 3, a next-generation segmented display that features dynamic color-changing capabilities. E Ink Prism 3 is the next generation E Ink Prism film, which bridges the gap between traditional static materials and digital technology with dynamically changing materials. Fully programmable, designers can now integrate endless materials with changeable colors and patterns. At CES 2023, BMW is using E Ink Prism 3 to create a multi-colored skin on their new i Vision DEE concept car, the first use of E Ink Prism 3 in automotive applications.
• In November 2022, LG Display unveiled the world's first 12-inch high-resolution Stretchable display equipped with outstanding free-form technology that enables it to be extended, folded, and twisted without distortion or damage. The company's newly unveiled Stretchable display is the industry's first to achieve 20% stretchability, a resolution of 100ppi, and full-color RGB. In addition, its high flexibility, durability, and reliability maximize its potential for commercialization.

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