New Product Launches and Expansions were the Key Growth Strategies Adopted by the Leading Players of the Flexible Substrates Market Between 2015 and 2017
The flexible substrates market is projected to grow from USD 402.9 million in 2018 to USD 775.8 million by 2023, at a CAGR of 14.0 % during the forecast period. Flexible substrates have the ability to bend while sustaining its other properties. They remain intact while being compressed, stretched, or twisted. Flexible substrates have properties such as thermal stability, dimensional stability, low coefficient of thermal expansion (CTE), outstanding solvent resistance, and decent barrier properties for moisture and gases. They are mainly used in electronics applications such as displays and printed circuit boards.
Increasing use of flexible substrates in consumer electronics is fueling the growth of the flexible substrates market across the globe. Key companies operating in the market have adopted various inorganic and organic growth strategies such as acquisitions, new product launches, expansions, and joint ventures to strengthen their foothold in the flexible substrates market. DuPont Teijin Films (US), Teijin (Japan), Schott (Germany), Corning (US), Polyonics (US), Kolon Industries (South Korea), and Heraeus (Germany) are some of the leading players operating in the flexible substrates market.
New product launches and expansions were the key growth strategies adopted by the leading players of the flexible substrates market between 2015 and 2017 to enhance their business prospects, increase their global reach, and widen their distribution networks.
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Corning (US) develops digital flexible substrates for use in displays. The company manufactures and supplies flexible glass substrates. In December 2015, the company invested USD 1.3 billion in a Gen 10.5 glass manufacturing facility in Hefei, China. In addition, the company entered into a long-term agreement with BOE Technology Group Co. Ltd (BOE), wherein BOE committed to buying Gen 10.5 glass substrates and Gen 8.5 glass substrates. In June 2015, the company launched Corning EAGLE XG Slim glass of 0.4mm thickness in sizes up to Gen 8.5. It provides improved performance and greater reliability for curved TV panels. It also aids in the manufacturing of thinner and lighter large-size displays.
Polyonics (US) is one of the leading innovation-driven company which develops innovative flexible substrates. In August 2016, the company introduced new types of antistatic films, which provided protection for static sensitive components. These are available in 25 and 50 µm versions. These films have high tensile, tear, and impact and abrasion resistance; are immune to a broad array of chemicals; and are stable at high temperatures.
Nippon Electric Glass (Japan) and American Semiconductor (US) are some of the other manufacturers of flexible substrates.
Related Reports:
Flexible Substrates Market by Type (Plastic, Glass, Metal), Application (Consumer Electronics, Solar Energy, Medical & Healthcare, Aerospace & Defense) and Region (APAC, Europe, North America, South America) - Global Forecast to 2023
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