Automotive FPC Market Overview
As per MRFR analysis, the Automotive FPC Market Size was estimated at 8.17 (USD Billion) in 2022. The Automotive FPC Market Industry is expected to grow from 8.91(USD Billion) in 2023 to 19.4 (USD Billion) by 2032. The Automotive FPC Market CAGR (growth rate) is expected to be around 9.04% during the forecast period (2024 - 2032).
Key Automotive FPC Market Trends Highlighted
The automotive FPC market is continuously evolving, driven by technological advancements and shifting consumer preferences. A key trend is the increasing demand for lightweight, high-performance FPCs that can support the integration of advanced features such as autonomous driving systems and next-generation displays. Moreover, the growing adoption of electric vehicles is creating opportunities for FPCs with specialized capabilities to handle high-voltage power distribution.
Another important trend is the expansion of flexible and foldable FPCs, which offer design versatility and enable the creation of innovative automotive interiors. The increasing use of artificial intelligence and machine learning technologies is also creating opportunities for FPCs to play a critical role in delivering enhanced user experiences and safety features in vehicles. As consumers demand more personalized and connected driving experiences, FPCs are expected to play a vital role in bridging the gap between the automotive industry and the consumer electronics sector.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive FPC Market Drivers
Rising Demand for Electric Vehicles
The automotive industry is changing, and the growth in demand for electric vehicles is one of the main drivers of this change. The popularity of EVs increases rapidly as they have numerous advantages over gasoline-fueled vehicles: these automobiles are more cost-effective, eco-friendly, and provide better performance. The growth of demand for automotive FPCs will be stimulated by the growth in demand for EVs as the FPCs are basic electronic components of the EV powertrains.
Automotive FPCs connect the battery and electric motor and are one of the vital components to guarantee the effective and efficient operation of EVs. Apart from the demand for EVs, there are other factors likely to drive the growth of the automotive FPC market, such as The increased demand for advanced driver assistance systems and autonomous vehicles, Increased popularity of connected cars, Increased demand for environmentally-friendly cars, Emerging market demand, Increased requirement for lightweight and fuel-efficient vehicles The automotive FPC market is a universal market.
The main markets for automotive FPCs are in China, Europe, and North America. The demand in all these markets is expected to grow rapidly during the next ten years. The demand will grow the fastest in emerging markets. The automotive FPC market is also expected to witness considerable changes in sales mix as the demand for increasingly complex and environmentally friendly vehicles will grow. The main suppliers of automotive FPCs are diverse, but the market is rather competitive.
The main players in the market include Sumitomo Electric Industries, Ltd. Fujikura Ltd. Hitachi Metals, Ltd. Yazaki Corporation TE Connectivity Ltd. The amount of funds these companies allocate for the development of new products is significant. The main manufacturers will be increasing their production capacities as the demand for the automotive FPC will continue to grow.
Government Regulations
Government regulations are playing an increasingly important role in the automotive industry. Governments around the world are implementing stricter emissions standards and fuel economy regulations. These regulations are driving the development of more efficient and environmentally friendly vehicles. Automotive FPCs can help to meet these regulations by reducing the weight of vehicles and improving their fuel efficiency. In addition to emissions and fuel economy regulations, governments are also implementing regulations related to safety and autonomous driving.
These regulations are driving the development of new and innovative automotive FPC products. For example, automotive FPCs are being used in the development of advanced driver assistance systems (ADAS) and autonomous driving technologies. Government regulations are expected to continue to play an important role in the automotive industry in the coming years. These regulations will continue to drive the development of new and innovative automotive FPC products.
Technological Advancements
There are different noteworthy and important technological advancements on the horizon in the automotive industry. Some of these advancements will be the entry into commercial production of new and innovative automotive FPC products. They will be featured in the development of flexible displays, transparent displays, touchscreens, and so on. These products will rely on the incorporation of rapid technological advancements and will be able to enhance improved developments that up the usability and safety of various FPCs used in these automotive functions.
The recent changes in technology have led to major developments in the manufacturing process regarding touch screens and other similar applications. As a result, the automotive FPC will become cheaper and more affordable to the general population as rapid changes in technology are affecting the cost of production. The automotive industry will, therefore, continue to benefit from changes in technology in the years to come.
Automotive FPC Market Segment Insights:
Automotive FPC Market FPC Product Types Insights
Single-Sided FPCs, Double-Sided FPCs, and Multilayer FPCs are the key divisions of the Global Automotive FPC Market. In 2023, the Single-Sided FPCs segment accounted for the largest proportion of the segment’s market share. Single-sided FPCs are in high demand in the automotive industry because of their low cost and lightweight. In the forecast era, Double-Sided FPCs are projected to achieve the highest CAGR. Single-Sided FPCs have a higher occurrence of failure than Double-Sided FPCs in the automotive industry. On the other side, Multilayer FPCs have also captured the attention of the industry because of their ability to accommodate complicated designs and high-frequency signals.
With regards to sales, the Global Market for Single-Sided FPCs in the Automotive FPC Market will be USD 4.5 billion by 2024. However, the Double-Sided FPCs segment is projected to be valued at $2.8 billion. By 2024, the Multilayer FPCs segment will be worth $2.1 billion. Increased demand for automotive electronics has resulted in the growth of the Automotive FPC Market. Infotainment systems, driver assistance systems, and powertrain control units are just a few of the automotive electronic devices that need high-performance, efficient, and reliable FPCs.
The Automotive FPC Market is becoming fiercely competitive, with the presence of many competitors. Major competitors in the market include TTM Technologies, Zhen Ding Technology Holding, Unimicron Technology, and AT.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive FPC Market FPC Materials Insights
The different types of FPC Materials used in the Global Automotive FPC Market are Polyimide, LCP, and Other FPC Materials. The penetration of FPCs in various automotive applications such as ADAS, infotainment systems, and automotive displays is expected to provide substantial growth opportunities for this market. Polyimide is a high-performance polymer that is widely used in FPCs because of its excellent thermal stability, electrical insulation, and flexibility. LCP is a high-performance polymer material that is characterized by its low coefficient of thermal expansion and high strength.
Other FPC Materials are PET, PEN, PI, and others. Polyimide is expected to continue to lead the FPC market due to its superior performance and versatile applications in the automotive industry. LCP is also expected to be a significant material in the market due to its use in high-end automotive applications. Other FPC Materials are anticipated to have some occasional use in the market based on their specific performance and cost-effective advantages.
Automotive FPC Market Application Insights
The Automotive FPC Market is segmented into various applications, including Automotive Interior, Automotive Exterior, and In-Vehicle Display. The Automotive Interior segment held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing adoption of advanced technologies in vehicles, such as infotainment systems, climate control systems, and navigation systems. The Automotive Exterior segment is also expected to witness significant growth, driven by the increasing demand for lightweight and durable materials for vehicle exteriors. The In-Vehicle Display segment is anticipated to grow at a steady pace, owing to the rising popularity of digital dashboards and head-up displays in vehicles.
Automotive FPC Market Industry Vertical Insights
The automotive FPC market is segmented by industry vertical into passenger vehicles, commercial vehicles, and off-highway vehicles. The passenger vehicles segment is expected to account for the largest share of the market in 2023, with a valuation of USD 4.21 billion. This is due to the increasing demand for passenger vehicles in emerging markets, as well as the growing popularity of electric and hybrid vehicles. The commercial vehicles segment is expected to be the second largest segment, with a valuation of USD 2.94 billion in 2023. The off-highway vehicles segment is expected to be the smallest segment, with a valuation of USD 1.76 billion in 2023.However, this segment is expected to grow at the fastest rate, with a CAGR of 9.8% over the forecast period. This growth is due to the increasing demand for off-highway vehicles in construction, mining, and agriculture.
Automotive FPC Market Regional Insights
The regional segmentation of the global Automotive FPC Market presents diverse growth prospects and market dynamics. North America holds a significant share of the market, driven by technological advancements and the presence of major automotive manufacturers. In 2024, the region is projected to account for over 30% of the global Automotive FPC Market revenue. Europe follows closely, with a sizable market share attributed to stringent emission regulations and increasing demand for electric vehicles. The Asia-Pacific (APAC) region is expected to witness substantial growth in the coming years, primarily due to rising automotive production and the growing middle class.South America and the Middle East and Africa (MEA) regions are also expected to contribute to the global Automotive FPC Market growth, albeit at a slower pace.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive FPC Market Key Players And Competitive Insights:
Major automotive FPC market players are concentrating on producing and launching new products. This development strategy is driving the growth of the automotive FPC market industry. Additionally, leading automotive FPC market players are focusing on developing new applications to enhance their market presence in the competitive global market. Moreover, the popularity of electric vehicles and the rising demand for lightweight materials are positively influencing the development of the automotive FPC market.
In the coming years, the automotive FPC market competitive landscape will be deeply competitive, and major players are likely to focus on broadening their market share with new product launches and investments in potential partnerships.Murata Manufacturing Co., ltd. is a leading automotive FPC market player that provides a wide range of FPC products for the automotive industry. The company offers a broad range of automotive FPC applications, including engine control units, transmission control units and body control modules, among others. Murata Manufacturing Co., ltd. has a strong global market presence and is known to offer high-quality products and services.
The company leverages the r program to develop new automotive FPC products and enhance its existing product portfolio. Another major player in the automotive FPC market is Sumitomo Electric Industries, ltd. The company offers a broad range of FPC products for the automotive industry, including FPCs, FFCs and FPCs products. Sumitomo Electric Industries, ltd. has an extensive market presence and is known to offer high-quality products and services. The company leverages the r program to develop new automotive FPC products and enhance its existing product portfolio.
Key Companies in the Automotive FPC Market Include:
- LG Innotek
- WUS Printed Circuit
- Suzhou Jinyu Electronics
- Showa Denko
- TFlex
- Zhenhua Auto Electron
- Parker Hannifin
- Silex
- Epec
- Znd Electronics
- AT
- Midori Precisions
- Yageo
- FPC Strategy
- Shennan Circuits
Automotive FPC Market Industry Developments
The Automotive FPC market is anticipated to grow significantly between 2023 and 2032. Increasing demand for electric vehicles, rising adoption of advanced driver-assistance systems (ADAS), and growing popularity of connected cars are driving market expansion. Asia-Pacific is expected to hold the largest market share due to the presence of major automotive manufacturers and increasing vehicle production.
Key industry participants are collaborating to develop innovative FPC solutions, with recent developments including partnerships between Mektron and Yageo and investments in FPC manufacturing by companies like TTM Technologies. The market is expected to witness continued growth in the coming years, driven by technological advancements and increasing demand for automotive electronics.
Automotive FPC Market Segmentation Insights
Automotive FPC Market FPC Product Types Outlook
- Single-Sided FPCs
- Double-Sided FPCs
- Multilayer FPCs
Automotive FPC Market FPC Materials Outlook
- Polyimide
- LCP
- Other FPC Materials
Automotive FPC Market Application Outlook
- Automotive Interior
- Automotive Exterior
- In-Vehicle Display
Automotive FPC Market Industry Vertical Outlook
- Passenger Vehicles
- Commercial Vehicles
- Off-Highway Vehicles
Automotive FPC Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
8.17 (USD Billion) |
| Market Size 2023 |
8.91 (USD Billion) |
| Market Size 2032 |
19.4 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
9.04% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
LG Innotek, WUS Printed Circuit, Suzhou Jinyu Electronics, Showa Denko, TFlex, Zhenhua Auto Electron, Parker Hannifin, Silex, Epec, Znd Electronics, AT, Midori Precisions, Yageo, FPC Strategy, Shennan Circuits |
| Segments Covered |
FPC Product Types, FPC Materials, Application, Industry Vertical, Regional |
| Key Market Opportunities |
Autonomous driving systems electrification, digitalization customization, and connectivity |
| Key Market Dynamics |
Rising EV demand Technological advancements Growing safety concerns Increasing adoption of ADAS Government regulations. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Automotive FPC Market is valued at USD 8.91 Billion in 2023 and is projected to reach USD 19.4 Billion by 2032, exhibiting a CAGR of 9.04% during the forecast period.
The Asia Pacific region is expected to dominate the Global Automotive FPC Market throughout the forecast period due to the presence of major automotive manufacturing hubs such as China, Japan, and South Korea.
Automotive FPCs are primarily used in automotive lighting, displays, sensors, and electronic control units (ECUs).
Some of the key competitors in the Global Automotive FPC Market include TTM Technologies, Unimicron, Zhen Ding Technology Holding, and Ibiden.
The growth of the Global Automotive FPC Market is driven by increasing demand for advanced driver assistance systems (ADAS), electric vehicles, and autonomous vehicles.
The Global Automotive FPC Market faces challenges such as supply chain disruptions, rising raw material costs, and intense competition.
Technological advancements such as the development of flexible and foldable FPCs are expected to create new opportunities for growth in the Global Automotive FPC Market.
Key trends in the Global Automotive FPC Market include the adoption of miniaturization, integration, and lightweight materials.
