The increasing usage of flexible heaters in medical, aerospace, automotive & transportation and electronics & semiconductor are the key factors boosting the growth of the market.
Flexible Heater Market worth $1.7 billion by 2027
The new market research report "Flexible Heater Market by Type (Silicone Rubber, Polyimide, Polyester, Mica), Industry (Electronics & Semiconductor, Medical, Aerospace, Automotive & Transportation, Food & Beverages, Oil & Gas) and Region - Global Forecast to 2027" The global flexible heater market size is expected to grow from USD 1.2 billion in 2022 to USD 1.7 billion by 2027, at a CAGR of 7.2%.
The flexible heater market in Asia Pacific to grow at the highest CAGR during the forecast period.
The economic growth of the region and the lower operating costs in countries such as China and India are expected to drive the demand for flexible heaters in Asia Pacific.Also, the surging demand for electronics and automotive due to EVs and HEVs as well as other industrial activities in the region will drive huge demand for flexible heater market in Asia Pacific.
In October 2021, Rogers Corporation acquires Silicone Engineering Ltd., a leading manufacturer of silicone material solutions for application in the industrial heater, medical and other markets. Silicone Engineering will provide Rogers center of excellence to service customers requiring premium silicone solutions.
In February 2020, Elektrotermija was acquired by Backer AB which is a member of the NIBE group. The company develops and manufactures intelligent, energy-efficient indoor comfort solutions. Elecktrotermija is a producer of electric heaters and devices based out of Serbia.
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Flexible Heater Market is making rapid shifts in their strategies