PCB Market Trends and Forecast
Lucintel finds that, the future of the global printed circuit board (PCB) market looks promising with opportunities in the computer/peripherals, communications, consumer electronics, industrial, automotive, and military/aerospace industries. The global PCB market is expected to reach an estimated $116 billion by 2030 with a CAGR of 4% from 2024 to 2030. The printed circuit board market has witnessed substantial growth and is expected to continue expanding in the coming years. The market size is influenced by factors such as the increasing demand for smart and connected devices, the rapid growth of the Internet of Things (IoT), and the adoption of advanced technologies such as 5G and artificial intelligence.
Printed Circuit Boards (PCBs) are essentially built on fibreglass or composite epoxy resin (FR4) as a substrate, copper for the conductive layers, solder mask and silkscreen to protect it and give labels. A foundation is created by the substrate, while electrical pathways are formed by copper. Solder mask prevents short circuits and silkscreen identifies components.
The cost of PCBs varies depending on factors such as size, complexity and quantity. For standard PCBs alone, prices can range anywhere from $5 to $50 per board with high end or specialized boards going for much more than that. Pricing is affected by competition; manufacturers from Asia have low cost rates compared to their western counterparts in this regard.
• Lucintel forecasts that standard multilayers will remain the largest product type due to increasing demand in computer and communication industries.
• Communication will remain the largest end use industry during the forecast period due to growing e-communication. The automotive segment is expected to witness the highest growth due to the increasing demand for electric and hybrid vehicles.
• Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period due to the increasing electronic content in automotive, and growth in consumer electronic devices and telecommunication products. Increasing usage of electric vehicles due to growing environmental concerns and regulations is also expected to drive the demand for PCB in this region.
Country wise Outlook for the Printed Circuit Board Market
The printed circuit board market is witnessing substantial growth globally, driven by increased demand from various industries such as computer/peripheral, communication, consumer electronics, industrial electronics, automotive, and military/aerospace. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major carbon fiber producers in key regions: the USA, Germany, China, Japan, Taiwan and Brazil.
Emerging Trends in the Printed Circuit Board Market
Emerging trends in the printed circuit board market shaping its future applications and market dynamics:
• Miniaturization and High-Density Interconnects (HDI): When electronic gadgets become minute and intricate, the PCBs are also being developed to be tinier. HDI technology enables more components to be placed on a smaller board thereby making its performance and functionality better.
• Flexible and Rigid-Flex PCBs: Flexible PCBs are becoming increasingly popular because they can be bent or flexed into tight spaces; this makes them ideal for use in wearable or portable devices. On the other hand, rigid-flex PCBs embody both flexibility and rigidity in one circuit thus providing strength and flexibility at the same time.
• Advanced Materials: To enhance the quality of PCBs, new types of materials such as high-frequency laminates as well as thermal management substrates have been introduced. These materials help with managing heat dissipation and preserving signal integrity in high-speed applications.
• Environmentally Friendly Manufacturing: The trend in the PCB industry is towards environmentally friendly manufacturing processes. Lead-free solder, recyclable materials and energy-efficient production methods are being employed to reduce environmental impact.
• Embedded Components: Embedded passive components directly into the printed circuit board substrate is an emerging trend which helps in reducing board size improving performance by shortening interconnection lengths thereby increasing reliability.
A total of 137 figures / charts and 117 tables are provided in this 229-page report to help in your business decisions. Sample figures with insights are shown below.
Recent Developments in the Printed Circuit Board Market
Ongoing innovations and advancements in various sectors of the printed circuit board market which have been highlighted by recent developments:
• Towards 4D Printing: In a similar vein to the above approach, we are heading towards a fourth dimension printing as opposed to the traditional three dimensional printing, where PCBs can change their shape or function on exposure to external stimuli like heating or moisture. The technology allows for circuit boards that are dynamic and adaptable and can reconfigure themselves for different applications.
• High-Speed and High-Frequency Boards: These materials have made it possible to make PCBs that handle high speed/high frequency signals with minimal signal loss and interference (Li et al., 2016). This is necessary in order to be able to apply them in telecommunications, 5G, and other areas of high-performance computing.
• Putting Flexible Electronics Together: Recent developments have improved the integration of flexible electronics with conventional rigid PCBs including technological advances in stretchable and bendable PCBs which makes these suitable for wearable devices such as body sensors, medical gadgets as well as consumer electronics.
• More Advanced Heat Dissipation: To cool down PCBS more effectively, new thermal management technologies such as embedded heat sinks and advanced thermal interface materials are being combined into them (Li et al., 2016). This will ultimately enhance device reliability along with performance.
• Embedded Sensors – Smart Printed Circuit Boards: PCBs are increasingly incorporating embedded sensors and smart features that allow for real-time monitoring and data collection (Li et al., 2016). Examples of applications include automotive systems, industrial automation among others
Strategic Growth Opportunities for Printed Circuit Board Market
The printed circuit board (PCB) market is highly dynamic, characterized by rapid technological advancements and evolving industry demands. Some key strategic growth opportunities for this market include:
• Consumer Electronics: With the rapid growth in smart devices, wearables and home automation, there are opportunities for enhanced performance and miniaturization in PCB design. Flexible and High-Density Interconnect (HDI) PCB development will address the need for compactness and multifunctionality of consumer electronics.
• Automotive Industry: There has been an increase in electronic integration within automobiles especially for safety purposes, infotainment and self-driving cars. This calls for development of rugged high reliability printed circuit boards (PCB) capable to withstand harsh environment conditions as well as a high-speed data processing.
• Healthcare and Medical Devices: The proliferation of medical technology together with personalized healthcare creates a niche where PCBs can be used in wearable health monitors, diagnostic equipment among others. The focus should be on developing biocompatible material and reliable small size circuits as a basis for this sector to grow.
• Telecommunications and 5G: The rollout of 5G networks combined with the demand for fast transfer of data presents new opportunities for PCBs that support high frequency/high speed signals. Advanced materials and design techniques can improve performance such as meeting increased infrastructure demands.
• Industrial Automation and IoT: Growing adoption of automation and IoT solutions means that sensors, controllers, connectivity devices will require robust, high-performance PCBs Technology automation also includes embedded sensors on PBC’s to accommodate evolving industry requirements along with improved thermal management.
Printed Circuit Board Market Driver and Challenge
Printed circuit board has a very important role in many industries including computer/peripheral, communication, consumer electronics, industrial electronics, automotive, and military/aerospace. The changing market dynamics are being driven by the demand for high performance materials, improvements in manufacturing technologies and stringent environmental regulations. However, challenges like production costs highlight strategic solutions to sustain growth and innovation in the printed circuit board sector.
The factors responsible for driving the printed circuit board market include:
• Technology Changes: The rapid electronics innovation has led to demand in the market resulting from high speed, high frequency and flex PCBs. The growth of advanced PCB technologies used for emerging applications such as 5G and IoT is very important.
• Consumer Electronics Growth: The proliferation of smartphones, wearables and other small consumer items means that they must have miniaturized printed circuit boards (PCBs) with a high number of components per square unit to meet performance and real estate related needs.
• Automotive Electronics Integration: Increased use of electronics for safety systems, in vehicle entertainment systems and autonomous driving leads to increased demand for long lasting high reliability printed circuit boards.
• Healthcare Technology Expansion: Increasing medical devices, wearable health monitors require specialized PCBs which are anticipated to drive the market growth in this sector.
• Renewable Energy Sector: The increase in renewable energy technologies like solar and wind power provides opportunities for using printed circuit boards (PCBs) in power management and control systems.
Challenges in the printed circuit board market are:
• Complex Manufacturing Processes: Modern PCBs are more technologically advanced hence their manufacture involves complex processes that could be expensive making it hard for new entrants.
• Material Costs and Supply Chain Issues: Upward or downward fluctuations on raw material prices together with breakdown in supply chain can impact on production cost and availability thereby challenging profitability margin retention levels.
• Environmental Regulations: There are increasing regulations concerning sustainability as well as green manufacturing initiatives that will necessitate additional investment into compliance measures along with technology upgrades as well.
• Technological Obsolescence: As a result of quick technological advancements, current PCB designs become useless thus calling for regular changes as well as adaptations through improvement and implementation strategies.
• Competition and Pricing Pressure: Profitability is challenged by intense competition especially from low-cost Asian manufacturers who exert pricing pressure on established players.
The printed circuit board (PCB) market is driven by technological advancements, consumer electronics growth, automotive electronics integration, healthcare technology expansion, and the renewable energy sector. However, it faces challenges such as complex manufacturing processes, material costs and supply chain issues, environmental regulations, technological obsolescence, and intense competition. Balancing these factors is crucial for sustained growth and innovation in the PCB market.
Printed Circuit Board Suppliers and Their Market Shares
In this globally competitive market, several key players such NOK Corporation, Zhen Ding Technology, TTM Technologies, Unimicron Technology, Compeq Manufacturing, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players contact us. If you wish to deep dive in competitive positioning of these players then you can look into our other syndicated market report.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies printed circuit board companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the printed circuit board companies profiled in this report include.
• NOK Corporation
• Zhen Ding Technology
• TTM Technologies
• Unimicron Technology
• Compeq Manufacturing
These companies have established themselves as leaders in the printed circuit board industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the printed circuit board market are evolving, with the entry of new players and the emergence of innovative carbon fiber technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Printed Circuit Board by Segment
Flexible PCBs that serve the market of printed circuit board (PCB) are one of the most rapidly expanding areas in PCB. This is because there is a growing need for wearable and portable electronics. Some of the major growing sections of PCB market include high density interconnect (HDI) PCB’s which are crucial for miniaturized and high performance devices, automotive PCB’s attributed to advanced vehicle electronics integration, medical PCB’s arising from developments in health diagnostic technologies and 5G and high frequency boards necessitated by high speed data transfers, as well as telecommunications sector. These are some of the branches that are expanding due to technological changes taking place, increased customer demand, and emergence of new uses across many industries. The study includes trends and forecast for the global PCB market by end use industry, product type, laminate material type, laminate raw material usage, and region as follows:
PCB Market by End Use Industry [Value ($B) and Volume (M Sqm) Analysis for 2018 – 2030]:
• Computers/Peripherals
• Communications
• Consumer Electronics
• Industrial Electronics
• Automotive
• Military/Aerospace
• Others
PCB Market by Product Type [Value ($B) and Volume (M Sqm) Analysis for 2018 – 2030]:
• Rigid 1-2 Sided
• Standard Multilayer
• HDI/Microvia/Build-Up
• IC Substrate
• Rigid-Flex
• Flexible Circuits
• Others
PCB Market by Laminate Materials Type [Value ($M) Analysis for 2018 – 2030]:
• FR-4
• FR-4 high Tg
• FR-4 halogen free
• Standard & Others
• Flexible (PI,PET)
• Paper
• Composites
• Others
PCB Market by Raw Material Usage [Value ($B) and Volume (M sqm) Analysis for 2018 – 2030]:
• Glass Fabric
• Epoxy Resin
• Kraft Paper
• Phenolic Resin
• Polyimide Film
PCB Market by Region [Value ($M) and Volume (M lbs) Analysis for 2018 – 2030]:
• North America
• USA
• Mexico
• Canada
• Europe
• Germany
• UK
• France
• Asia Pacific
• China
• Taiwan
• India
• Japan
• South Korea
• The Rest of the World
Features of the Printed Circuit Board Market
• Market Size Estimates: Printed Circuit Board (PCB) market size estimation in terms of value ($M)
• Trend And Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Printed circuit board (PCB) market size by various segments, such as end use industry, product type, material, raw material usage in terms of value.
• Regional Analysis: Printed circuit board (PCB) market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different end use industry, product type, material, raw material usage, and regions for the printed circuit board (PCB) market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the printed circuit board (PCB) market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1.How big is the PCB market?
Answer: The global PCB market is expected to reach an estimated $116 billion by 2030.
Q2. What is the growth forecast for PCB market?
Answer: The global PCB market is expected to grow with a CAGR of 4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the PCB market?
Answer: The major drivers for this market are increasing demand for PCB in the communication industry, growth in connected devices, and growth in automotive electronics.
Q4. What are the major applications or end use industries for PCB?
Answer: The future of the printed circuit board (PCB) market looks promising with opportunities in the computer/peripherals, communications, consumer electronics, industrial, automotive, and military/aerospace industries.
Q5. What are the emerging trends in PCB market?
Answer: Emerging trend, which has a direct impact on the dynamics of the industry, includes miniaturization of printed circuit boards, growing demand for high speed data and signal transmission, and development of green PCBs.
Q6. Which are the key players in PCB market?
Answer: Some of the key PCB companies are as follows:
• NOK Corporation
• Zhen Ding Technology
• TTM Technologies
• Unimicron Technology
• Compeq Manufacturing
Q7. Which PCB segment will be the largest in future?
Answer: Lucintel forecasts that standard multilayers will remain the largest product type
due to increasing demand in computer and communication industries.
Q8.Which country is the largest producer of printed circuit board market ?
Answer: Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period due to the increasing electronic content in automotive, and growth in consumer electronic devices and telecommunication products. Increasing usage of electric vehicles due to growing environmental concerns and regulations is also expected to drive the demand for PCB in this region.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the global printed circuit board (PCB) market by end use industry (computer/peripheral, communication, consumer electronics, industrial electronics, automotive, military/aerospace, and others), product type (standard multilayer, flexible circuits, HDI/microvia/build-up, IC substrate, rigid 1-2 sided, rigid flex, and others), laminate material type (FR-4, flexible, paper, CEM and others), laminate raw material usage (glass fabric, epoxy resin, kraft paper, phenolic resin, and polyimide film), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the Printed Circuit Board (PCB) market?
Q.5 What are the business risks and threats to the printed circuit board (PCB) market?
Q.6 What are emerging trends in the printed circuit board (PCB) market and the reasons behind them?
Q.7 What are some changing demands of customers in the printed circuit board (PCB) market?
Q.8 What are the new developments in the printed circuit board (PCB) market? Which companies are leading these developments?
Q.9 Who are the major players in the printed circuit board (PCB) market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the printed circuit board (PCB) market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the printed circuit board (PCB) market?
For any questions related to printed circuit board (PCB) market or related to PCB design software market, automotive PCB market, high density interconnect PCB market, automotive PCB market growth, PCB companies, PCB market size, PCB market share, PCB analysis, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.