Market Overview:
The global Flexible Printed Circuit Boards market was valued at USD 14.76 billion in 2022 and expected to grow at a CAGR of 11.2% during the forecast period. Flexible Printed Circuit Boards (FPCBs), also known as flexible electronics or flex circuits, are specialized electronic circuitry boards that provide an alternative to traditional rigid printed circuit boards (PCBs). FPCBs are constructed from flexible materials, such as polyimide or polyester, which allows them to bend, twist, and conform to complex shapes.
Manufacturing Process:
The manufacturing process for flexible printed circuit boards market involves several steps, including designing the circuit layout, etching copper traces, laminating with flexible substrate material, and applying a protective solder mask and silkscreen. The flexible PCB is then subjected to quality control and testing before being assembled into electronic devices.
Overall,
flexible printed circuit boards offer a versatile solution for electronic
design, enabling engineers to create compact, lightweight, and reliable
electronic products for a wide range of applications across various industries.
Report Scope
Report Attributes |
Description |
Market Size in 2022 |
USD 14.76 Billion |
Market Forecast in 2031 |
USD 35.54 Billion |
CAGR % 2023-2031 |
11.2% |
Base Year |
2022 |
Historic Data |
2019-2021 |
Forecast Period |
2023-2031 |
Report USP |
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
Segments Covered |
By Type, By End-user |
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain;
Benelux; Nordic Countries; Russia; China; India; Japan; South Korea;
Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE;
Egypt; South Africa; Nigeria |
Key Companies |
AT&S Benchmark
Electronics Cicor
Management AG Eltek Ltd. Flex Ltd IEC
Electronics Jabil Inc. Others |
Key Characteristics and
Features:
Flexibility: The primary distinguishing feature of
FPCBs is their flexibility. They can be bent and shaped to fit into
three-dimensional spaces, making them suitable for applications where
traditional rigid PCBs would be impractical.
Lightweight: FPCBs are lightweight, which makes them
ideal for applications where weight is a critical factor, such as in aerospace,
automotive, and consumer electronics.
Compact Size: flexible printed circuit boards market can
be designed with very thin profiles, allowing for compact and space-saving
electronic designs.
Reliability: FPCBs are known for their reliability
and durability, with a high resistance to vibration, shock, and thermal stress.
They are less prone to mechanical failures compared to rigid PCBs.
High Wiring Density: Despite their thin and flexible nature,
FPCBs can accommodate a high density of traces, pads, and components. This
enables complex and compact electronic designs.
Lightweight Components: FPCBs are compatible with lightweight
components, which can further reduce the overall weight of electronic devices.
Improved Signal Integrity: FPCBs can provide better signal
integrity compared to traditional ribbon cables, as they minimize signal
interference and crosstalk.
Temperature Tolerance: FPCBs are designed to withstand a wide
range of temperatures, making them suitable for extreme temperature
environments, such as automotive engine compartments and industrial
applications.
Customizable: FPCBs can be customized to fit specific
applications and form factors, allowing engineers to design unique solutions
for various industries.
Applications:
Flexible
printed circuit boards find applications across various industries, including:
Consumer Electronics: flexible printed circuit boards market is
commonly used in smartphones, tablets, laptops, cameras, wearables, and other
portable devices, where their flexibility and compactness are essential.
Automotive:
In the automotive industry, FPCBs are used for airbag systems, infotainment
systems, instrument clusters, and sensors due to their resistance to
temperature fluctuations and vibrations.
Aerospace and Defense: FPCBs are employed in aerospace
applications, including satellites, avionics systems, and military equipment,
where they must withstand harsh environmental conditions.
Medical Devices: FPCBs are used in medical equipment
such as pacemakers, medical imaging devices, and wearable health monitoring
devices due to their flexibility and reliability.
Industrial Electronics: FPCBs are found in industrial
automation, robotics, and control systems, where they offer durability and
flexibility in harsh industrial environments.
Communication Systems: In wireless communication devices and
base stations, FPCBs are used for their signal integrity and compact design.
Consumer Appliances: FPCBs are used in appliances like
washing machines, ovens, and refrigerators for their durability and
space-saving characteristics.
Wearable Technology: Smartwatches, fitness trackers, and
other wearables often incorporate FPCBs to achieve slim and flexible designs.
Printed Sensors: FPCBs can be used as the substrate for
various printed sensors, including capacitive touch sensors and flexible
pressure sensors.
Covid-19 Impact:
The
COVID-19 pandemic had both positive and negative impacts on the flexible
printed circuit boards market. The effects were influenced by factors such as
disruptions in the global supply chain, changes in consumer behavior, remote
work trends, and the pandemic's impact on various industries. Here's an
overview of how COVID-19 impacted the FPCB market:
Positive Impacts:
Demand
in Medical Devices: The pandemic led to a surge in demand for medical devices
such as ventilators, patient monitoring systems, and diagnostic equipment.
FPCBs are crucial components in these devices, leading to increased production
and demand for FPCBs in the healthcare sector.
Growth
in Wearables: With the increased focus on health monitoring and remote patient
care during the pandemic, the demand for wearable devices like fitness trackers
and smartwatches rose. FPCBs are integral to the construction of these devices.
Remote
Work and Communication: The shift to remote work and remote learning increased
the demand for communication equipment, including laptops, tablets, and
smartphones. These devices rely on FPCBs for their compact and lightweight
designs.
Negative Impacts:
Supply
Chain Disruptions: The pandemic disrupted global supply chains, causing delays
in the procurement of raw materials and components required for FPCB
manufacturing. This led to production delays and increased costs for FPCB
manufacturers.
Reduced
Consumer Spending: Economic uncertainties and job losses during the pandemic
resulted in reduced consumer spending, particularly on non-essential
electronics and gadgets. This impacted the demand for certain consumer
electronics that use FPCBs.
Production
and Labor Challenges: Lockdowns and social distancing measures affected
manufacturing operations in some regions. Reduced workforce availability and
restrictions on factory operations slowed down FPCB production.
Aerospace
and Automotive Slowdown: The aerospace and automotive industries, both
significant consumers of FPCBs, were severely impacted by the pandemic. Reduced
air travel and automotive production rates led to decreased demand for FPCBs in
these sectors.
Market
Uncertainty: The uncertainty surrounding the duration and severity of the
pandemic made it challenging for businesses to plan for future demand. This
uncertainty affected investment decisions and contributed to market volatility.
Long-Term Outlook:
While
the immediate impact of the COVID-19 pandemic was challenging, the flexible
printed circuit boards market is expected to rebound as the global economy
recovers and industries adapt to changing circumstances. The positive trends in
healthcare, wearables, and remote communication are likely to continue driving
demand for FPCBs. Additionally, as industries increase their focus on
automation, electrification, and connectivity, FPCBs will play a crucial role
in various applications.
Manufacturers
in the flexible printed circuit boards industry are also likely to reassess
their supply chain strategies and explore ways to mitigate future disruptions.
Overall, the FPCB market remains resilient, with the potential for continued
growth as technological advancements and innovative applications drive demand
for flexible and lightweight electronic solutions.
Market Dynamics:
Drivers:
Miniaturization
and Lightweight Design: The demand for smaller, lighter, and more compact
electronic devices has grown across various industries, including consumer
electronics, healthcare, and aerospace. FPCBs enable manufacturers to design
and produce smaller and more lightweight products.
Versatility and
Flexibility: FPCBs can
conform to complex shapes and fit into tight spaces, making them ideal for
applications where rigid PCBs cannot be used. This versatility is highly valued
in industries such as automotive, aerospace, and wearable technology.
Rapid
Technological Advancements: Advances in materials, manufacturing processes, and
design software have led to the development of high-performance FPCBs. These
advancements allow for greater functionality and reliability in electronic
devices.
Consumer Electronics: The proliferation of smartphones,
tablets, laptops, wearables, and other consumer electronics drives the demand
for flexible printed circuit boards market. These devices require flexible and
lightweight circuitry for their compact designs.
Automotive Electronics: The automotive industry increasingly
relies on FPCBs for applications such as infotainment systems, advanced
driver-assistance systems (ADAS), and engine control units (ECUs). FPCBs
provide durability and reliability in automotive environments.
Healthcare Devices: Medical devices, diagnostic equipment,
and wearable health monitors benefit from FPCBs due to their flexibility and
biocompatibility. The healthcare industry's focus on remote patient monitoring
and telehealth has further boosted demand.
Aerospace and Defense: The aerospace and defense sectors use FPCBs
in avionics, communication systems, satellites, and unmanned aerial vehicles
(UAVs). FPCBs meet the industry's requirements for lightweight, reliable, and
ruggedized circuitry.
Industrial Automation: FPCBs are used in industrial automation
systems, robotics, sensors, and control units. They enable automation equipment
to operate efficiently in demanding industrial environments.
Emerging Technologies: FPCBs play a vital role in emerging
technologies like the Internet of Things (IoT), where flexible and compact
circuitry is essential for connecting a wide range of devices and sensors.
Green Technologies: The adoption of electric and
hybrid-electric vehicles, renewable energy systems, and energy-efficient
appliances has increased the demand for FPCBs in green technologies.
Cost-Efficiency: Despite their advanced features, FPCBs
can offer cost-effective solutions, especially when compared to rigid PCBs
combined with extensive cabling and connectors.
Customization: FPCBs can be customized to fit specific
form factors and design requirements, allowing engineers to create tailored
solutions for various applications.
Environmental
Considerations: FPCBs
are often considered more environmentally friendly than traditional PCBs due to
their reduced use of materials and lower energy consumption in production.
Sustainability: FPCBs support sustainability
initiatives by reducing electronic waste and enabling the development of
eco-friendly products.
Restraints:
High
Initial Costs: The development and production of flexible printed circuit
boards market often involve high initial costs, including research and
development expenses, specialized equipment, and materials. This can deter new
entrants and smaller manufacturers.
Limited
Component Compatibility: Some components used in electronic devices are not designed
for flexible PCBs. In cases where rigid components are required, connectors and
transition zones may be needed, adding complexity and cost to the design.
Complex
Manufacturing Processes: FPCB manufacturing involves intricate processes such
as photolithography, etching, lamination, and laser cutting. Maintaining
precision and consistency throughout these processes can be challenging.
Design
Constraints: While FPCBs offer flexibility, they also have design constraints,
such as bending radius limits and limited layer counts compared to rigid PCBs.
These constraints may not be suitable for all applications.
Delicate
Nature: FPCBs can be more delicate and vulnerable to damage during handling and
assembly compared to rigid PCBs. Special care is required during the
manufacturing and assembly processes to prevent damage.
Material
Limitations: FPCBs are typically made from materials like polyimide and
polyester, which may not be as suitable for certain high-temperature or extreme
environmental applications as rigid PCB materials.
Scalability
Challenges: Mass production of FPCBs can be challenging due to the complexity
of the manufacturing process. Scaling up production while maintaining quality
and consistency can be a hurdle for some manufacturers.
Competition
and Pricing Pressure: As demand for FPCBs grows, competition among
manufacturers intensifies. This can lead to pricing pressure and potentially
reduced profit margins.
Supply
Chain Disruptions: The global supply chain can be susceptible to disruptions, as
seen during events like the COVID-19 pandemic. Supply chain disruptions can
lead to delays in material procurement and production.
Market
Volatility: The FPCB market can be influenced by market volatility and economic
uncertainties. Changes in consumer spending patterns and global economic
conditions can affect the demand for electronic devices.
Environmental
Regulations: Environmental regulations regarding the disposal and recycling of
electronic waste can impact the lifecycle and end-of-life considerations for flexible
printed circuit boards market and electronic devices.
Longer
Design Cycles: Developing and prototyping FPCBs can involve longer design
cycles compared to rigid PCBs, which can be a constraint for companies aiming
for faster product development.
Security
Concerns: flexible printed circuit boards industry used in sensitive
applications, such as aerospace and defense, may require additional security
measures to protect against tampering and cyber threats.
Regional Analysis:
Asia-Pacific (APAC):
China:
China is a major hub for electronics manufacturing and is one of the largest
consumers of FPCBs in the world. The country's vast consumer electronics
market, as well as its growing automotive and industrial sectors, drives
significant demand for FPCBs.
Taiwan:
Taiwan is known for its semiconductor and electronics industry. It is a key
player in the FPCB market, particularly in the production of high-quality and
advanced FPCBs.
South
Korea: South Korea is home to major electronics conglomerates, contributing to
the demand for FPCBs. It is also a leader in technological innovation.
Japan:
Japan's electronics industry, along with its automotive and industrial sectors,
utilizes FPCBs extensively. Japanese manufacturers often focus on high-quality
FPCBs for precision applications.
North America:
United
States: The United States has a significant presence in the aerospace, defense,
automotive, and consumer electronics industries, all of which drive demand for flexible
printed circuit boards market.
Canada:
Canada's electronics manufacturing sector also contributes to regional FPCB
demand, particularly in industries like aerospace and healthcare.
Europe:
Germany:
Germany's automotive and industrial sectors are key consumers of FPCBs. The
country's strong manufacturing capabilities contribute to FPCB production.
France:
The aerospace and defense industries in France rely on FPCBs for avionics and
communication systems.
United
Kingdom: The UK's electronics industry and its presence in aerospace and
automotive manufacturing contribute to regional FPCB demand.
Latin America:
Brazil:
Brazil's electronics manufacturing sector is growing, which contributes to the
demand for FPCBs, particularly in consumer electronics.
Middle
East and Africa (MEA):
United
Arab Emirates (UAE): The UAE's aerospace and defense sectors, as well as its
thriving electronics market, drive demand for FPCBs.
South
Africa: South Africa's electronics industry contributes to regional FPCB
demand, especially in industrial applications.
Oceania:
Australia
and New Zealand: These countries have a growing electronics and aerospace
industry, leading to increased demand for FPCBs.
Emerging
Markets: Emerging markets in APAC, such as India and Southeast Asian countries,
are witnessing rapid growth in electronics manufacturing and the use of flexible
printed circuit boards market in various applications.
Regulatory
Environment: Each region may have its own set of regulations and standards
governing electronic products and their components, which can impact FPCB
design and certification.
Competitive Landscape:
The
global Flexible Printed Circuit Boards market is highly competitive and
fragmented with the presence of several players. These companies are constantly
focusing on new product development, partnerships, collaborations, and mergers
and acquisitions to maintain their market position and expand their
geographical presence.
Some of the key players
operating in the market are:
·
AT&S
·
Benchmark
Electronics
·
Cicor
Management AG
·
Eltek
Ltd.
·
Flex
Ltd
·
IEC
Electronics
·
Jabil
Inc.
·
SigmaTron
International, Inc.
·
SMTC
Corp
·
Sumitomo
Electric Industries, Ltd.
·
TTM
Technologies
·
Others
Segments
By Type
·
Single-Sided Circuits
·
Double-Sided Circuits
·
Multilayer Circuits
·
Rigid-Flex Circuits
·
Others
By End-user
·
Industrial Electronics
·
Aerospace & Defense
·
IT & Telecom
·
Automotive
·
Consumer Electronics
·
Others
By Geography
·
North
America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
o
Italy
o
Spain
o
Russia
·
Asia-Pacific
o
Japan
o
China
o
India
o
Australia
o
South
Korea
o
ASEAN
o
Rest
of APAC
·
South
America
o
Brazil
o
Argentina
o
Colombia
o
Rest
of South America
·
MEA
o
South
Africa
o
Saudi
Arabia
o
UAE
o
Egypt
o
Rest
of MEA
1.
Global Flexible Printed Circuit Boards
Market Introduction and Market Overview
1.1. Objectives
of the Study
1.2. Flexible Printed Circuit Boards Market Definition & Description
1.3. Global
Flexible Printed Circuit Boards Market Scope and Market Estimation
1.3.1. Global
Flexible Printed Circuit Boards Market Size, Revenue (US$ Mn), Market CAGR (%),
Market forecast (2023-2033)
1.3.2. Global
Flexible Printed Circuit Boards Market Revenue Share (%) and Growth Rate
(Y-o-Y) from 2019-2033
1.4. Market
Segmentation
1.4.1. Type
of Global Flexible Printed Circuit Boards Market
1.4.2. End
User of Global Flexible Printed Circuit Boards Market
1.4.3. Region
of Global Flexible Printed Circuit Boards Market
2.
Executive
Summary
2.1. Global
Flexible Printed Circuit Boards Market
Industry Trends under COVID-19 Outbreak
2.1.1. Global
COVID-19 Status Overview
2.1.2. Influence
of COVID-19 Outbreak on Global Flexible
Printed Circuit Boards Market Industry Development
2.2. Market
Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact
Analysis of Drivers and Restraints
2.3. Pricing
Trends Analysis & Average Selling Prices (ASPs)
2.4. Key
Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s
Five Forces Analysis
2.5.1. Bargaining
Power of Suppliers
2.5.2. Bargaining
Power of Buyers
2.5.3. Threat
of Substitutes
2.5.4. Threat
of New Entrants
2.5.5. Competitive
Rivalry
2.6. Value
Chain / Ecosystem Analysis
2.7. PEST
Analysis
2.8. Russia-Ukraine
War Impacts Analysis
2.9. Economic
Downturn Analysis
2.10. Market
Investment Opportunity Analysis (Top Investment Pockets), By Segments & By
Region
3.
Global
Flexible Printed Circuit Boards Market Estimates & Historical Trend Analysis
(2020 - 2022)
4.
Global
Flexible Printed Circuit Boards Market Estimates & Forecast Trend Analysis, By Type
4.1. Global
Flexible Printed Circuit Boards Market Revenue (US$ Mn) Estimates and
Forecasts, By Type, 2023 to 2033
4.1.1. Single-Sided
Circuits
4.1.2. Double-Sided
Circuits
4.1.3. Multilayer
Circuits
4.1.4. Rigid-Flex
Circuits
4.1.5. Others
5.
Global
Flexible Printed Circuit Boards Market Estimates & Forecast Trend Analysis, By End User
5.1. Global
Flexible Printed Circuit Boards Market Revenue (US$ Mn) Estimates and
Forecasts, By End User, 2023 to 2033
5.1.1. Industrial
Electronics
5.1.2. Aerospace
& Defense
5.1.3. IT
& Telecom
5.1.4. Automotive
5.1.5. Consumer
Electronics
5.1.6. Others
6.
Global
Flexible Printed Circuit Boards Market Estimates & Forecast Trend Analysis, By Region
6.1. Global
Flexible Printed Circuit Boards Market Revenue (US$ Mn) Estimates and
Forecasts, By Region, 2023 to 2033
6.1.1. North
America
6.1.2. Europe
6.1.3. Asia
Pacific
6.1.4. Middle
East & Africa
6.1.5. South
America
7.
North America Flexible
Printed Circuit Boards Market:
Estimates & Forecast Trend Analysis
7.1. North
America Flexible Printed Circuit Boards Market Assessments & Key Findings
7.1.1. North
America Flexible Printed Circuit Boards Market Introduction
7.1.2. North America
Flexible Printed Circuit Boards Market Size Estimates and Forecast (US$
Million) (2023 to 2033)
7.1.2.1. By Type
7.1.2.2. By End-user
7.1.2.3. By
Country
7.1.2.3.1. The
U.S.
7.1.2.3.2. Canada
7.1.2.3.3. Mexico
8.
Europe Flexible
Printed Circuit Boards Market:
Estimates & Forecast Trend Analysis
8.1. Europe
Flexible Printed Circuit Boards Market Assessments & Key Findings
8.1.1. Europe
Flexible Printed Circuit Boards Market Introduction
8.1.2. Europe
Flexible Printed Circuit Boards Market Size Estimates and Forecast (US$
Million) (2023 to 2033)
8.1.2.1. By Type
8.1.2.2. By End-user
8.1.2.3. By
Country
8.1.2.3.1. Germany
8.1.2.3.2. U.K.
8.1.2.3.3. France
8.1.2.3.4. Italy
8.1.2.3.5. Spain
8.1.2.3.6. Russia
8.1.2.3.7. Rest
of Europe
9.
Asia Pacific Flexible
Printed Circuit Boards Market:
Estimates & Forecast Trend Analysis
9.1. Asia
Pacific Market Assessments & Key Findings
9.1.1. Asia
Pacific Flexible Printed Circuit Boards Market Introduction
9.1.2. Asia
Pacific Flexible Printed Circuit Boards Market Size Estimates and Forecast (US$
Million) (2023 to 2033)
9.1.2.1.
By
Type
9.1.2.2. By End-user
9.1.2.3. By
Country
9.1.2.3.1. China
9.1.2.3.2. Japan
9.1.2.3.3. India
9.1.2.3.4. Australia
9.1.2.3.5. South
Korea
9.1.2.3.6. ASEAN
9.1.2.3.7. Rest
of Asia Pacific
10. Middle
East & Africa Flexible Printed Circuit Boards Market: Estimates & Forecast Trend Analysis
10.1. Middle
East & Africa Market Assessments & Key Findings
10.1.1. Middle East & Africa Flexible Printed Circuit Boards Market
Introduction
10.1.2. Middle
East & Africa Flexible Printed Circuit Boards Market Size Estimates
and Forecast (US$ Million) (2023 to 2033)
10.1.2.1. By Type
10.1.2.2. By End-user
10.1.2.3. By
Country
10.1.2.3.1.
U.A.E.
10.1.2.3.2.
Saudi Arabia
10.1.2.3.3.
Egypt
10.1.2.3.4.
South Africa
10.1.2.3.5.
Rest of Middle East & Africa
11. South
America Flexible Printed Circuit Boards Market: Estimates & Forecast Trend Analysis
11.1. South
America Market Assessments & Key Findings
11.1.1. South
America Flexible Printed Circuit Boards Market Introduction
11.1.2. South
America Flexible Printed Circuit Boards Market Size Estimates and Forecast (US$
Million) (2023 to 2033)
11.1.2.1. By Type
11.1.2.2. By End-user
11.1.2.3. By
Country
11.1.2.3.1.
Brazil
11.1.2.3.2.
Argentina
11.1.2.3.3.
Colombia
11.1.2.3.4.
Rest of South America
12. Competition
Landscape
12.1. Global
Flexible Printed Circuit Boards Market Competition Matrix & Benchmarking,
by Leading Players / Innovators / Emerging Players / New Entrants
12.2. Global
Flexible Printed Circuit Boards Market Concentration & Company Market
Shares (%) Analysis, 2022
13. Company
Profiles
13.1. AT&S
13.1.1. Company
Overview & Key Stats
13.1.2. Financial
Performance & KPIs
13.1.3. Product
Portfolio
13.1.4. Business
Strategy & Recent Developments
* Similar details would be provided for all the
players mentioned below
13.2. Benchmark Electronics
13.3. Cicor Management AG
13.4. Eltek Ltd.
13.5. Flex Ltd
13.6. IEC Electronics
13.7. Jabil Inc.
13.8. SigmaTron International, Inc.
13.9. SMTC Corp
13.10. Sumitomo Electric Industries, Ltd.
13.11. TTM Technologies
13.12. Others
13.13. Segments
13.14. Others**
14. Research Methodology
14.1. External
Transportations / Databases
14.2. Internal
Proprietary Database
14.3. Primary
Research
14.4. Secondary
Research
14.5. Assumptions
14.6. Limitations
14.7. Report
FAQs
15. Research Findings & Conclusion
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The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
The global Flexible Printed Circuit Boards market was valued at USD 14.76 billion in 2022 and expected to grow at a CAGR of 11.2% during the forecast period
Miniaturization and Lightweight Design: The demand for smaller, lighter, and more compact electronic devices has grown across various industries, including consumer electronics, healthcare, and aerospace. FPCBs enable manufacturers to design and produce smaller and more lightweight products.
Some of the major players operating within the market are AT&S, Benchmark Electronics, Cicor Management AG, Eltek Ltd., Flex Ltd, IEC Electronics, Jabil Inc., Others
Germany: Germany's automotive and industrial sectors are key consumers of FPCBs. The country's strong manufacturing capabilities contribute to FPCB production. France: The aerospace and defense industries in France rely on FPCBs for avionics and communication systems.
Only Three Thousand Four Hundred Ninety Nine US dollar
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