JAPAN FLEXIBLE ELECTRONICS MARKET FORECAST 2023-2030

Japan has one of the most sophisticated and innovative tech markets, globally. Moreover, the national government’s ambitious plan for the development of a super-smart world propelled by digital innovation, Society 5.0, entails tremendous information collection from sensors in the physical space. This factor is anticipated to bolster the country’s tech industry over the upcoming years. In addition, the Japanese government’s concept of ‘Connected Industries’ is aimed at creating advanced added value as well as solution systems. The concept places a strong emphasis on smart life, biotechnologies and materials, plant and infrastructure safety management, and robotics and manufacturing.

On the other hand, factors such as the rise in the adoption of IoT technologies like artificial intelligence, smart cities, and robots are further promoting the demand for flexible electronics in Japan. The country is also a dominating international market for climate-friendly automobiles, i.e., gasoline or electric hybrids. Accordingly, the Japanese government is aggressively working toward all new cars being environmentally friendly; 4 million new electric vehicles were sold in 2020, representing more than 36% of total new car sales, as per the Japan Automobile Dealers Association (JADA). As a result, these factors are expected to proliferate the flexible electronics market growth in Japan during the forecasting years.

The Japan 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. Over recent years, several wearable biosensors for health monitoring have garnered the interest of scientific as well as industry communities. Aligning with this, wearable biosensors are regarded as highly beneficial owing to their real-time health status monitoring. They are designed to control skin fluids such as lactate, pH, glucose, cholesterol, etc., as well as pulse rate, breath rate, respiration, temperature, activity monitoring, and others.

On the other hand, military electronics are designed to operate in harsh conditions, including lower humidity or greater temperatures, without compromising capabilities. For example, appropriately developed and applied coatings can help safeguard the integrity of flexible hybrid electrical (FHE) systems in adverse environmental conditions, such as humidity and temperature. Additionally, common flexible substrate materials are not compatible with fabrication processes necessitating elevated temperatures, thus fueling the demand for more resilient substrate materials.

Some of the prominent players operating in the Japan flexible electronics market include Japan Display Inc, LG Electronics Inc, Sumitomo Corporation, etc.

Sumitomo Corporation, headquartered in Japan, is a trading and business investment company. It caters to multiple sectors, including infrastructure, construction, mining, transportation and logistics, real estate, media, energy and chemicals, and power. The company’s portfolio constitutes metal products, such as steel, zinc, nickel, iron, copper, and uranium. Sumitomo Corporation also provides materials for transportation & construction equipment like automotive parts, veterinary medicine, and industrial parks, among others.