The global membrane switch market is expected to reach USD 13.14 billion by 2025, according to a new report by Grand View Research, Inc. Membrane switch demand is significantly growing worldwide on account of high application scope coupled with increasing consumption in consumer goods application.
The membrane switch value chain is characterized by manufacturers of membrane switches, suppliers and end-use industries. Growing electronics and semiconductor industries are expected to have a positive impact on the membrane switch market over the forecast period.
Molex, Xymox Technologies, Douglas Corporation, Henkel Electronics Materials, and Nelson Miller are major membrane switch manufacturers in the world. Most of the players have manufacturing facilities in Asia Pacific and the products are then exported globally. These companies have dense supplier and distribution networks, owing to which, raw material procurement, manufacturing and selling of the membrane switches becomes cost effective.
Key factors responsible for the growth of the electronics industry include a rise in consumption of consumer electronics in the emerging markets of China, India, Taiwan, and Thailand amidst new product developments. Incorporation of innovative technologies, such as nanotechnology, in major manufacturing destinations, such as Japan and China, is expected to drive the electronics market in return bolstering the membrane switch industry.
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Further key findings from the report suggest:
The demand for polyester membrane switches in 2015 was USD 1,508.0 million owing to the ability of the materials to suit various designs, and the flexibility in design is expected to drive demand over the forecast period.
Asia Pacific is one of the fastest growing markets at a CAGR over 14.2% owing to consumer awareness regarding benefits of membrane switches.
In September 2014, Henkel acquired Bergquist starting membrane switches product line. This acquisition widened the company’s product portfolio, further strengthening its position in the market.
In May 2016, Nelson Miller acquired Delta Technologies in order to provide support for almost all product lines of the company including membrane switches
Grand View Research has segmented the global membrane switch market on the basis of product, application, and region:
Product Outlook (Volume, Million Units, Revenue, USD Million, 2014 - 2025)
Application Outlook (Volume, Million Units, Revenue, USD Million, 2014 - 2025)
Regional Outlook (Volume, Million Units, Revenue, USD Million, 2014 - 2025)
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