Wilmington, Delaware, United States, Transparency Market Research, Inc., July 12, 2024 (GLOBE NEWSWIRE) -- Owing to many drivers, the projected size of the flexible heating element market (유연한 발열체 시장) is likely to reach USD 2.8 billion by 2034. The last recorded valuation of the said industry was USD 1.3 billion, measured in 2023. This change in the size can be attributed to a moderate CAGR of 7.2% through the forecast period.
With the technological evolution, materials used to manufacture flexible heating elements are seen to be augmented. Research and development processes are emphasized more, which deliver desired results to marketers.
The use of 3D printing technology, carbon nanotubes, and many other essential technological developments might assist leading manufacturers in augmenting the size and shape of heating elements.
The production capacity of manufacturing plants can be increased with the use of such technologies. The intricacy as well as accuracy of the design can also be improved using such technologies. Such favorable factors drive the popularity of technology within the ecosystem.
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Biocompatibility, cost-effectiveness, and flexibility are some key attributes that can be enhanced using the abovementioned technology. The user comfort can also be improved through such inclusions. The wider applications of such devices are possible due to such innovations and added properties.
In the case of large-scale flexible heaters, silver and graphene particles are used. Heaters have excellent physical properties, including better high steady-state temperature, a low driving voltage, and ultrafast response with better flexibility. Such properties elevate the popularity of such heaters.
The growing investments in advanced nanoparticles are expected to shape the competitive landscape drastically. Modification of constituents might lead to variations in the properties of heaters.
Across different emerging methods observed to be influential in the industry, printed electronic (PE) technologies are expected to gain more popularity. High-throughput fabrication and cost-effectiveness are some key properties that can be attributed to the material using this technology.
Medical devices are expected to generate traction for flexible heaters. Due to the use of biocompatible materials used in such devices, the outcome delivered by instruments is enhanced.
Biosensors, electronic skins, and implantable defibrillators are some other key applications of flexible heating elements, driving the demand for the industry in the global environment.
Key Findings from the Market Report
- The competitive space of flexible heating elements can be segmented to analyse the potential of different segments. Based on the type, silicon rubbers are expected to generate more revenue. As the material provides an ideal alternative to conventional rigid metallic heaters, the category is expected to gain more traction.
- Due to the better durability, the polyamide category of the product type segment is expected to gain more attention from consumers.
- Mica, which acts as an excellent insulator, secures a respectable share in the competitive landscape. The food service equipment fuels the demand for the material.
- Based on the end-user segment, the electronics and semiconductor realm is expected to create more prospects for the competitive space. Due to the diversified applications of heaters, the market is expected to generate more demand.
Regional Profile
- Owing to technological developments, North America is likely to create better prospects for key players in the flexible heating element market.
- The proliferation of the electronics and semiconductor industry in Asia-Pacific is expected to drive the demand for the subject market in the region.
- The emphasis on research and development processes in Europe is likely to fuel the augmentation of products in Europe.
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Competitive Landscape
Product innovation is a key mode of expansion used by key players in the flexible heating element market.
- Honeywell International Inc. is an important player in offering services under aerospace technologies, automation and productivity, and safety categories.
- All Flex Solutions produces Catheter Flex solutions, flexible printed circuit solutions, and rigid-flex solutions.
- Omega Engineering Inc. is another key player producing temperature probes, temperature calibrators, and temperature wire and cable tools.
Key Players
- Honeywell International Inc.
- All Flex Solutions
- Chromalox (Spirax Sarco Limited)
- Omega Engineering Inc.
- NIBE Group
- Rogers Corporation
- Minco Products, Inc.
- Birk
Key Developments in the Flexible Heating Element Market
- In October 2023, All Flex Solutions acquired the building in Minneapolis. This helped the firm diversify in North America.
- In June 2024, Honeywell International Inc. announced to acquisition of CAES. This is aimed to help the firm bolster its position in the industry.
Market Segmentation
By Type
- Silicone Rubber
- Polyimide
- Polyester
- Mica
By End Use
- Electronics and Semiconductors
- Aerospace
- Medical
- Automotive and Transportation
- Oil and Gas
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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