Flexible electronics help design devices that can adapt, conform, and flex. They are broadly used in displays, lighting, memory devices, batteries, sensors, medical devices, and more. Flexible electronics offer lightweight, durable, and cost-effective alternatives to conventional rigid electronics. The global Flexible Electronics Market is estimated to be valued at US$ 30.71 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

The growth of the flexible electronics market is primarily driven by emerging technological innovations leading to new product developments and applications. Major players are focusing on R&D activities to develop enhanced flexible displays, circuits, and batteries that can be integrated into foldable and wearable devices. For instance, in 2022, LG Display developed a new plastic OLED screen technology that offers high resistance to bending, folding, and impact compared to silicon-based displays. The company aims to provide flexible displays for applications such as laptops, tablets, smartphones, monitors, and automotive panels. Similarly, in 2021, researchers from Northwestern University developed a new flexible electronic device that can generate energy from mechanical motion such as body movements. Such innovative technologies are widening the scope of flexible electronics and fueling the market growth over the forecast period.

Segment Analysis

The global flexible electronics market is segmented based on applications into sensors, displays, memory, energy harvesting, and others. The display segment dominates the market and accounted for highest revenue share in 2024 due to increasing demand for flexible displays in smartphones and consumer electronics. Flexible displays provide options for rollable, foldable, stretchable display units and allows design of curvy surfaces.

 

Key Takeaways

The Global Flexible Electronics Market is expected to witness high growth over the forecast period of 2023 to 2030 driven by increasing demand for wearables and foldable smartphones.

Regional analysis shows that Asia Pacific currently dominates the global market and is expected to maintain its leading position throughout the forecast period due to strong presence of manufacturing units of prominent electronics companies in countries like China, South Korea, and Japan. Also, growing adoption of flexible electronics in consumer electronics and recent technological advancements are fueling the growth of flexible electronics market in the region.

 

Key players operating in the flexible electronics market are Samsung Electronics Co. Ltd., LG Corporation, Solar Frontier K.K., First Solar, Panasonic Corporation, Konica Minolta, OLEDWorks, Blue Spark Technologies, BrightVolt, Heliatek and Cymbet.


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