The market for chip-on-flex is predicted to generate US$ 1800.6 million in 2022 and US$ 2631.5 million from 2022 to 2032, growing at a CAGR of 3.9%. The application of flex circuits is expanding, which is what is promoting growth. Between 2016 and 2021, the market for biscuit mixes experienced a CAGR of 2.6%.
The chip on flex is most commonly used in RFID chips, which have a tiny surface area and need to be manufactured in huge quantities. Greater accuracy and flexibility are fundamentally needed as technology advances, and the chip-on-flex market is seeing an increase in demand because of its affordability. because of advantages like reduced wiring, single-sided chip on flex accounted for a larger market share.
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Global Chip-on-flex Market: Market Dynamics
The rising investment in R&D to produce advanced flexible displays in the market is the major factor driving the growth of the market. Also, the advantages produce by chip-on-flex such as heat sinks, component assembly, penalization, shielding, over molding, and graphics overlay among others makes them a critical component in various industries such as the electronic industry, aerospace, defense, and many others.
Also, the rising demand for small and flexible electronics critical to various devices such as displays, sensors, lighting, biomedical implants, and radio frequency identification which require automated manufacture with highly accurate performance is anticipated to result in an exponential growth of the market. With the use of these chips, industries ensure increased accuracy with reduced cost and amplified product quality with testing repeatability.
However, the increased cost of raw materials and changing consumer needs are some of the factors that can restrain the growth of the global Chip-on-flex market.
Single-sided chips on flex accounted for a higher market share in 2016 owing to various advantages like reduced wiring errors, higher circuit density, stronger signal quality, and design flexibility. The other segment can also be expected to witness significant CAGR during the forecast period.
Market Competition
Some of the key participants present in the global chip-on-flex market include
- LGIT corporation,
- Stemko group,
- Flaxseed,
- Chipbond technology corporation,
- CWE, Danbond technology co. ltd.,
- AKM industrial company ltd.,
- compass technology company limited,
- Compunetics and Stars microelectronics public company ltd.
- among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as LGIT Corporation, Stemko Group, Flexceed, and Chipbond technology corporation account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
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Key Segments Profiled in the Chip-On-Flex Industry Survey
Chip-On-Flex Market by Type:
- Single-sided COD Chip-On-Flex
- Other Chip-On-Flex Types
Chip-On-Flex Market by Verticals:
- Chip-On-Flex in Military
- Chip-On-Flex in Medical
- Chip-On-Flex in Aerospace
- Chip-On-Flex in Electronics
- Chip-On-Flex in Other Verticals
Chip-On-Flex Market by Region:
- North America Chip-On-Flex Market
- Latin America Chip-On-Flex Market
- Europe Chip-On-Flex Market
- Asia Pacific Chip-On-Flex Market
- Japan Chip-On-Flex Market
- Middle East and Africa Chip-On-Flex Market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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