Market Highlights
Chip On Flex Market is expected to grow at CAGR of ~4.43% during the forecast period and expected to reach market size of US ~$1795 Million by the end of forecast period. Chip On Flex is also known as direct chip attachment. Chip On Flex possess high bending strength, which makes it useful in processes that require bending and folding. It is also used in electronic equipment which requires repeated movements such as printers. The other advantages provided by Chip On Flex technology include savings in space, mechanical flexibility, low production cost and increased reliability from heat distribution. The market is majorly driven by growing range of applications in the industrial, military, computer, telecommunication, consumer electronics, and medical electronics industries. The increasing collaboration between printed circuit board companies and funding by government bodies also ensures the prevalence of flexible printed circuit board in consumer electronics, automotive, aerospace, defense, Medical as well as other applications.
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Unlike rigid boards, flex circuits are not restricted to two dimensions. Because they are as flexible as wires or ribbon cables, flex circuit design options are endless. Flex circuits can be designed to meet highly complex and unimaginable configurations while being able to operate in the most hostile environments. Flexible Circuits are third dimension and can interconnect between two or more planes during execution. With the increasing footprints of wearable’s in the medical device space the two dimensional circuits are getting replaced by the flexible circuit boards acts as an opportunity for the growth of flexible printed boards during the forecasted period. The ability of the flexible circuit boards is to bend and twist into different shapes that helps them to fit into place where rigid PCB’s cannot. Flexible circuits are favored in applications where size and weight are important considerations, such as implantable medical devices, that includes pacemakers, defibrillators, and cochlear implants are among the implantable devices that employ flexible circuits.
Key Players
The prominent players in the Chip On Flex Market are- LGIT corporation (U.S.), Stemko Group (Korea), Flexceed (Japan), Chipbond technology corporation (Taiwan), CWE(Taiwan), Danbond Technology Co. Ltd.(China), AKM Industrial Company Ltd.(China), Compass Technology Company Limited (Hong Kong), Compunetics Inc. (U.S.) and Stars Microelectronics Company Ltd (Thailand) and among others.
Innovations
One of the most recent advancements in this field has been the introduction of flexible display. Although, the product is yet to be launched in the commercial market, the makers have high hopes and expectations from it. It can help vendors to decrease the manufacturing cost of the end product and hence will promote commercialization.
Market Segmentation
The worldwide chip flex market has been divided into four equal parts. They consist of applications, geographies, verticals and types.
On account of applications, the market has been bifurcated into dynamic and static flexing.
Geographically, the market is spread across various regions of the globe like Europe, Asia Pacific, North America and Rest of the World. Amongst these, Asia Pacific is expected to grow at a rapid pace in the coming years.
When it comes to verticals, the industry is fragmented into medical, electronics, military and aerospace.
Lastly, on the basis of types, the market can be separated into single sided chip flex and others.
Regional Analysis:
The regional analysis of chip on flex market is being studied for areas such as Asia pacific, North America, Europe and rest of the world. Asia pacific is expected to record highest growth rate owing to existence of large number of chip on flex manufacturers in china like Danbond Technology, AKM Industrial, Compass Technology Company and others. Asia pacific will be followed by North America owing to increased adoption of new technologies especially in automobile sector. American depository of shares is also helping in mergers of various organizations to enhance the production capabilities in chip on flex market. Many well-established firms such as AKM Industrial, Compunetics and others are increasing their sales area in the Europe region which will lead to the growth of Europe region in chip on flex market.
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