The global stretchable and conformal electronics demand is forecast to grow at a stupendous CAGR during the forecast period from 2022 to 2032. Growth in the market is driven by surging demand for stretchable and conformal electronics across healthcare, automotive, consumer electronics, aerospace and several other end-use verticals.
The introduction of stretchable and conformal electronics has completely revolutionized the semiconductor and electronics industries across the globe. These electronics offer various benefits including simple fabrication, long switching times, and low fabrication cost. They exhibit some degree of mechanical strain tolerance or stretchability and are being extensively used for manufacturing several electronic products such as smart wearable electronics.
Rising adoption of electronic products like smart wearables, connected devices, and consumer electronics due to increasing purchasing power of consumers and changing lifestyle is expected to provide major impetus to the growth of stretchable and conformal electronics market during the forecast period.
Most of the electronic products made from stretchable and conformable electronics exhibit superior stretchability. They are ideal for usage in end-use verticals like healthcare, consumer electronics, and automotive. Rising trend of using stretchable and conformal electronics in wearable technologies, electronic textiles, and several other products will continue to boost their sales during the forthcoming years.
With emerging opportunities in consumer electronics, healthcare, textiles, automotive, aerospace and defense, the future of stretchable and conformable electronics market looks bright.
Robust growth of electronics industry worldwide, rising popularity of wearable electronic products, ongoing technological advancements, and increasing applications of stretchable and conformable electronics across diverse industries are some of the major factors driving the growth of stretchable and conformal electronics market.
Over the last few years, demand for stretchable and conformal electronics has risen at an incredible pace due to the rapid adoption of electronic products like smart wearable healthcare devices, smartphones, smart watches, tablets, and smart glasses. The increasing disposable income and the high purchasing power of consumers have allowed them to spend large amounts on purchasing numerous electronic products. This will continue to provide a strong thrust to the growth of stretchable and conformable electronics during the forecast period.
Several stretchable and conformal electronics components such as stretchable conductors, electroactive polymers, stretchable circuits, and stretchable batteries are being increasingly used for manufacturing a variety of stretchable electronic devices. Increasing production and sales of these products is expected to boost the growth of stretchable and conformal electronics market during the assessment period.
Similarly, rising need for improved performance, enhanced functionality, and miniaturization in electronic systems is expected to create sales prospects for stretchable and conformal electronics in the forthcoming years. Stretchable and conformal electronics allow manufacturers of medical devices, consumer electronics, etc. to develop innovative products with better flexibility and compact features.
Moreover, growing adoption of connected devices across the world coupled with innovations in stretchable and conformable electronics is anticipated to further expand market size during the forecast period.
There is no doubt that the popularity of stretchable and conformal electronics is making waves in the electronics industry. However, there are various factors that are likely to challenge market growth. Some of these factors are the slowdown in technological innovations due to various reasons, lack of investments on research and development across emerging regions of Latin America and Middle East & Africa (MEA), and financial uncertainties across the world.
With ongoing technological advancements in electronic and semiconductor industries and heavy presence of leading market players, North America is expected to continue dominating the global stretchable and conformal electronics market during the forecast period from 2022 to 2032.
Within North America, the U.S. is becoming the hub for stretchable and conformal electronics due to surging demand for wearable technologies and increasing research and development activities.
Moreover, increasing applications of stretchable and conformal electronics in healthcare, automotive, and aerospace and defense industries is expected to generate growth avenues within the North America market during the assessment period.
According to Future Market Insights, the stretchable and conformal market in Asia Pacific is forecast to grow at a significant pace during the forecast period, owing to the rapid digital transformation of various industries, flourishing electronic industry, and increasing spending by people on purchasing wearable healthcare products and consumer electronics.
Countries like China and India are generating bulk of the demand for stretchable and conformal electronics across Asia Pacific due to flourishing consumer electronics industry, growing popularity of smart wearable devices, and rapid expansion of end-use industries.
Some of the key participants present in the global stretchable and conformal electronics market include Eurecat, adidas, Forster Rohner, Hexoskin, Footfalls and Heartbeats, Fujikura Kasei, Henkel, Bebop, Infinite Corridor, Aiq Smart, Cityzen and Directa Plus and DuPont.
With the entry of many new domestic and regional players, the competition is getting fiercer. To capitalize and increase their sales, key players are using growth strategies such as new product launches, partnerships, acquisitions, collaborations and investing in research and development activities.
| Report Attribute | Details |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Customization | Available Upon Request |
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As per FMI. North America is expected to remain the most dominant market for stretchable and conformal electronics during the forecast period.
Eurecat, adidas, Forster Rohner, Hexoskin, Footfalls and Heartbeats, Fujikura Kasei, Henkel and DuPont are some prominent stretchable and conformal electronics manufacturers
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Stretchable and Conformal Electronics Market
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