The Flexible Heater Market is expected to reach USD 1,356 million by 2023 from USD 945 million in 2018, at a CAGR of 7.5% from 2018 to 2023. The factors such as a wide range of applications and rising demand from several industries are driving the growth of the flexible heater market. Flexible form factor, technological advancements, launch of innovative products, and high adoption of flexible heaters in medical applications are also driving the market toward significant growth.

The market for silicone rubber-based flexible heaters is expected to grow at the highest CAGR during the forecast period. High growth of the market for this type of heaters is attributed to their use in semiconductor systems (plasma etch systems, probing stations, IC test handling equipment, photo-resist track systems), electronics appliances (refrigeration equipment, coffeemaker, and wax-maker), and applications in medical, aerospace & defense, food & beverages, automotive, and oil & gas and mining. Increasing demand for such systems and products is expected to drive the silicone rubber-based flexible heater market toward highest growth during the forecast period. These heaters are durable and can withstand the maximum operating temperature of 450°F (232°C).

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Among various industries, the electronics and semiconductor is expected to have the largest market share and exhibit the highest CAGR during 2018–2023. In semiconductor manufacturing, the flexible heaters are used in plasma etch systems, probing stations, IC test handling equipment, photo-resist track systems, copy machines, LCD screen preheating, ATM machines, semiconductor test modules, handheld scanners, and various other equipment. The flexible heaters are also deployed in refrigeration equipment, coffeemaker, wax-maker, and various other electronic products. The increase in demand for such products is expected to drive the market for flexible heaters used in the electronics and semiconductor industry in the coming years.
APAC is expected to dominate the overall flexible heater market with the largest share and highest CAGR during the forecast period. The growth of flexible heater market in APAC is mainly attributed to the increasing demand for these heaters in various medical devices, analytical instruments, avionics and defense systems, semiconductors, and commercial food equipment. The electronics and semiconductor, and automotive industries are flourishing in APAC, and the demand for medical devices and food equipment is expected to grow at the fastest pace in this region in the coming years. The economic growth of APAC, along with the advantage of lower operating costs in countries such as China and India, is expected to drive the market for silicone rubber-based flexible heaters in this region. APAC is the largest market for electronics and semiconductor production, which is primarily dominated by countries such as China, India, Japan, Korea, and Taiwan, and is expected to rise further in the coming years.

New and emerging applications of flexible heaters in several industries, including building and construction, oil & gas, mining and metals, and chemicals, are likely to create growth opportunities for flexible heater providers.

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