ASIA-PACIFIC FLEXIBLE ELECTRONICS MARKET FORECAST 2023-2032

The Asia-Pacific flexible electronics market growth analysis is determined through a detailed evaluation of China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia & New Zealand, and the Rest of Asia-Pacific. China was the first nation to be affected by the COVID-19 pandemic, and subsequently, the country’s gross domestic product (GDP) plummeted by 6.8% in Q1 2020 compared to Q1 2019. 

In 2020, the Chinese government’s initiatives promised economic recovery through the development of seven key areas. These include charging stations for electric vehicles, artificial intelligence, data centers, industrial internet, 5G network, intercity as well as the inner-city rail system, and ultra-high voltage [UHV] transmission. Furthermore, the National Development and Reform Commission (NDRC) also concentrated on novel infrastructure projects in China in order to focus on innovation, technology, and information networks, thus prompting the demand for flexible electronics in the country over the upcoming years.

In addition, the National Medical Products Administration (NMPA) is working on the improvement of the standardization of medical devices in China. In this regard, the nation issued new state council orders to facilitate the smooth development, innovation, and administration of medical device regulations. This would support in vitro diagnostics (IVD) manufacturers and the medical device ecosystem, as a whole. Therefore, such factors are projected to contribute to the growth of the flexible electronics market in the Asia-Pacific during the forecast period. 

The Asia-Pacific flexible electronics market is segmented into component and application. The application segment includes consumer electronics, medical & healthcare, aerospace & defense, automotive, energy & power, and other applications. Flexible consumer electronics are becoming increasingly popular across applications such as lighting, displays, and photovoltaics. Additionally, due to their unique characteristics, such as bendability, conformability, ruggedness, lightweight, and lack of brittleness, these gadgets are high in terms of their utility. 

Furthermore, in consumer electronics, printed electronics are increasingly altering the functionalities and appearance of various products and solutions, such as control panels and flexible displays. For example, OLED displays are utilized in smartphones, TV screens, and tablets as they facilitate a whole new level of picture quality. Moreover, they also consume lesser energy due to the improved color brilliance and higher contrast.

Eminent companies operating in the Asia-Pacific flexible electronics market are Sumitomo Corporation, Fujikura Ltd, Japan Display Inc, etc.

Japan Display Inc, headquartered in Japan, is a leading provider of small and medium-sized display panels. The company manufactures and sells small as well as medium-sized displays, in addition to related products in Japan and other markets. Its product offerings entail LCD modules for the tablet, smartphone, and notebook PC market. 

The company also provides automotive application solutions for instrument panels, car navigation, and rear seat monitors. With a geographical presence across Asia-Pacific, the Americas, and Europe, Japan Display Inc operates production plants in Tottori, Higashiura, Ishikawa, and Mobara.