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The global flexible substrate market is consolidated with a small number of large-scale vendors controlling majority of the market share. Key firms are spending significant sums of money on comprehensive research and development, primarily to develop environment-friendly products. Expansion of product portfolios, new product launch, and mergers & acquisitions are the significant strategies adopted by the key players such as DuPont, Ube Industries, Ltd., Panasonic Corporation, Fuentek Kolon, LLC., Dow, DuPont Teijin Films, and 3M Company.

Flexible substrates are playing an important role in the advancement of display devices, majorly in recent times, as the structural support and signal transmission path or medium. Flexibility is the ability of a material to bend without mechanical failure such as facture and plastic deformation. Currently, ultrathin glass, metal foil, and plastic (polymer) films are highly popular options for flexible substrates. Plastic substrates, particularly transparent plastic substrates, provide good optical transmittance comparable to thin glass, as well as flexibility and hardness comparable to metal foils. Thus, flexible optoelectronic devices such as flexible displays (TFT-LCDs or AMOLEDs), FPCBs, touch panels, electronic paper, and thin solar cells benefit from them.

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Polyethylene terephthalate (PET), polyethylene naphthalate (PEN), and polyethylene propylene (PI) are among the plastic film materials used for flexible display devices, with PIs being one of the most promising plastic substrates for flexible optoelectronic devices due to their good thermal stability and mechanical & dielectric properties.

The adoption of electronic gadgets has fueled the demand for more innovative devices and technology in order to increase the focus on digitization. Flexible electronics devices are witnessing advances in communications, computing, healthcare, military systems, transportation, clean energy, and countless other applications. Smartphone-like devices are demanding more elegant designs and larger screen sizes for better visibility and experience; however, handling these devices is a major concern which has subsequently increased the demand for foldable smartphones. Advancements are being witnessed in durable foldable smartphones, as organic light-emitting polymers (OLEDs) improve and become more popular.

Display Supply Chain Consultants (DSCC) currently predicts the shipments of foldable smartphones to increase by 232% in 2021 to 7.5 million units. In 2022, these numbers are likely to increase by 112% to reach 15.9 million units, followed by 51 million units in shipments in 2026.

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The benefits of flexible electronics are similar to low-cost alternative to more traditional electronics. Flex circuits provide companies the ability to offer more personalized experiences to consumers; the flexibility improves durability due unbreakable nature of the substrate or material.

Increasing population and mega trends such as digitization, IoT, autonomous driving, and cloud computing are also driving the demand for consumer electronics. These digitally compatible devices are all based on flexible substrates.

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