Chip-On-Flex Market

Chip-On-Flex Market Snapshot (2022 to 2032)

Global chip-on-flex market demand is anticipated to be valued at USD 1800.6 Million in 2022, forecast to grow at a CAGR of 3.9% to be valued at USD 2631.5 Million from 2022 to 2032. Growth is attributed to the growing range of applications making use of flex circuits. From 2016 to 2021 a CAGR of 2.6% was registered for the biscuit mixes market.

Report Attribute	Details
Projected Growth Rate (2022 to 2032)	3.9%CAGR
Expected Market Value (2022)	USD 1800.6 Million
Anticipated Forecast Value (2032)	USD 2631.5 Million

The biggest application for the chip on flex lies in RFID chips which possess a thin surface area and are required to be produced in high volume. With the advancing technologies, there exists an underlying demand for increased accuracy and flexibility with cost-effectiveness increasing the demand for the chip-on-flex market. Single-sided chip on flex accounted for higher market share owing to various advantages like reduced wiring errors, higher circuit density, stronger signal quality, and design flexibility.

Due to the advantages produce by chip-on-flex such as heat sinks, component assembly, penalization, shielding, over-molding, and graphics overlay among others make them a critical component in various industries such as the electronic industry, aerospace, defense, and many others this will also boost the growth of the chip-on-flex market.

North America is considered to be a highly lucrative market for the chip-on-flex market driven primarily by the increasing adoption of new technologies, especially in the automobile sector.

Which are Some Prominent Drivers Spearheading Chip-On-Flex Market Growth?

The increasing use of these chips in industries ensures increased accuracy with reduced cost and amplified product quality with testing repeatability. Rising demand for chips in 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 exponential growth of the market.

Increasing demand for consumer electronics such as LCD, laptops, smartphones, etc., and growing ranges of applications in which the use of flex circuits also provide opportunities for the growth of the chip-on-flex market. Also, increasing investment in R&D activities and increasing product development are providing growth opportunities to the market.

What are the Challenges Faced by the Chip-On-Flex Industry?

Although the chip-on-flex market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. The increasing 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. The cost and complexities related to the development of the product will hinder the growth of the market in the forecasting period.

Why is North America Emerging as an Opportunistic Chip-on-flex Market?

North America was the largest market for the chip-on-flex market and the trend is expected to continue into the forecast period owing to the increasing adoption of new technology specifically in the automobile sector. The region is forecast to account for 32.2% share in 2022. The growth of the chip-on-flex market is attributed to the presence of leading Chip-On-Flex manufacturers and the prominent growth of the application industries in these regions.

How is Europe Contributing to the Growth of the Chip-On-Flex Market?

According to Future Market Insights, Europe is expected to provide immense growth opportunities for the chip-on-flex market, due to the presence of a large number of firms. Europe’s chip-on-flex market accounts for 21.1% share of the total global chip-on-flex market. High requirements in many end-user industries also boost the growth of the market.

Start-up-Scenario

Flex Logix, Digant Technologies Private Limited, and SIVA Inotec Ltd., are some of the startup companies operating in the chip-on-flex market.

In May 2022 - Silicon Catalyst, announces that Flex Logix® has joined as the newest member of its In-Kind Partner program (IKP). Portfolio companies in the Silicon Catalyst Incubator will have access to Flex Logix’s innovative embedded FPGA (eFPGA) IP and software, enabling silicon reconfigurability for use in their chip designs.

Market Competition

Some of the key participants present in the global chip-on-flex market include LGIT corporation, Stemko group, Flexceed, 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 considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.

• In September 2021- UMC and Chipbond are establishing a long-term strategic partnership. The two companies will cooperate closely in the field of driver ICs, integrate front-end and back-end process technologies, and develop driver IC solutions of higher frequency and lower power consumption, jointly providing a complete solution for customers in the panel industry.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 3.9% from 2022 to 2032
Expected Market Value (2022)	USD 1800.6 Million
Anticipated Forecast Value (2032)	USD 2631.5 Million
Base Year for Estimation	2021
Historical Data	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Type, Verticals, Region
Regions Covered	North America; Latin America; Europe; Asia Pacific; Middle East & Africa
Key Countries Profiled	USA, Canada, Mexico, Brazil, Germany, Italy, UK, Spain, France, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, S. Africa, Israel
Key Companies Profiled	LGIT Corporation; Stemko Group; Flexceed; Chipbond Technology Corporation; CWE; Danbond Technology Co. Ltd.; AKM Industrial Company Ltd.; Compass Technology Company Limited; Compunetics; STARS Microelectronics Public Company Ltd.
Customization	Available Upon Request

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

Frequently Asked Questions

What is the anticipated growth of the chip-on-flex market until 2032?

FMI projects the global chip-on-flex market to expand at a 3.9% value CAGR by 2032

Which region is forecast to be the most lucrative for chip-on-flex market growth?

North America is expected to be the most opportunistic with a 32.2% share of the total chip-on-flex market

Which are some prominent chip-on-flex market manufacturers?

LGIT corporation, Stemko group, Flexceed, Chipbond technology corporation are some prominent chip-on-flex market manufacturers.