Printed Circuit Board Pcb Market
PUBLISHED: 2024 ID: SMRC25268
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Printed Circuit Board Pcb Market

Printed Circuit Board (PCB) Market Forecasts to 2030 - Global Analysis By Type (Single Sided, Double Sided, Multi-Layer, High Density Interconnect (HDI) and Other Types), Substrate (Rigid, Flexible and Rigid-Flex), Laminate Material (Flame Retardant (FR-4), Flexible (PI,PET), Paper, Composites and Other Laminate Materials), Raw Material, End User and by Geography

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4.4 (49 reviews)
Published: 2024 ID: SMRC25268

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Printed Circuit Board (PCB) Market is accounted for $86.18 billion in 2023 and is expected to reach $143.91 billion by 2030 growing at a CAGR of 7.6% during the forecast period. As the structural foundation of electronic devices, printed circuit boards, or PCBs, are essential parts of contemporary electronics. It's a flat board with conductive pathways etched or printed onto it that is typically made of fiberglass or another non-conductive material. Connecting resistors, capacitors, and integrated circuits, among other electronic components, these pathways, which are typically composed of copper, create a network. 

According to the International Association of Electronics Engineers (IAEE), the rapid evolution of technology necessitates constant innovation in the design and fabrication of Printed Circuit Boards (PCBs), emphasizing the critical role these components play in advancing electronic systems across diverse industries.

Market Dynamics: 

Driver: 

Demand for compact and high-efficiency electronics

The need for sophisticated printed circuit boards (PCBs) is driven by the ongoing consumer demand for more powerful, lighter, and smaller electronic devices, from smartphones to smart watches. Furthermore, PCB manufacturers are forced to design PCBs with improved performance and higher component density to meet the ever-changing demands of compact yet feature-rich electronic devices, which drives the PCB market to continuously innovate in terms of miniaturization and technological capabilities.

Restraint:

Growing manufacturing complexity and cost

Manufacturing procedures are becoming more complicated as a result of the ongoing demand for sophisticated PCBs with greater performance and miniaturization. Additionally, the use of sophisticated designs and cutting-edge materials presents difficulties for production in terms of cost and complexity. To meet these demands, manufacturers must make investments in state-of-the-art machinery and highly skilled labor, which may lead to increased production costs that are then passed on to customers.

Opportunity:

Development of 5G infrastructure

The broad deployment of 5G technology offers the PCB industry a substantial window of opportunity. Advanced printed circuit boards (PCBs) with high-frequency capabilities and low signal loss are necessary for the deployment of 5G networks. Moreover, the increasing need for 5G infrastructure parts, such as base stations, antennas, and communication devices, presents a business opportunity for PCB manufacturers and will spur advancements in high-frequency PCB technology.

Threat:

Lack of essential raw materials

Critical raw materials like copper and rare earth elements, which are necessary for manufacturing, could become scarce, posing a threat to the PCB industry. Furthermore, the availability and cost of these materials can fluctuate due to supply chain disruptions, geopolitical tensions, and increased demand, which could have an effect on production costs and delay the manufacture of PCBs.

Covid-19 Impact: 

The COVID-19 pandemic had a profound effect on the printed circuit board (PCB) market, upending demand dynamics and the supply chain. Production delays and shortages of critical components resulted from the disruption of manufacturing operations caused by the worldwide lockdowns and restrictions. The PCB market was impacted by supply chain issues, declining consumer spending, and economic uncertainty, which reduced demand for electronic devices. Additionally, the market as a whole struggled to adjust to the unprecedented disruptions, which led to a re-evaluation of supply chain strategies, a greater emphasis on digitalization, and an increased focus on resilience and flexibility within the industry. 

The Multi-Layer segment is expected to be the largest during the forecast period

It is projected that the multi-layer PCB category will command the largest market share. Multiple layers of insulating material and copper traces sandwiched together define multi-layer printed circuit boards (PCBs), which enable complex circuit designs and improved functionality. These PCBs are widely used in sophisticated electronic devices that require effective signal routing and space optimization, like computers, networking equipment, and smartphones. Moreover, the market dominance of multi-layer PCBs is a result of the growing demand for small, feature-rich electronic devices.

The Healthcare segment is expected to have the highest CAGR during the forecast period

The market's highest CAGR is predicted for the healthcare segment. The strong expansion of the healthcare industry is ascribed to the growing amalgamation of cutting-edge technologies in medical apparatus, diagnostic tools, and healthcare facilities. In the healthcare sector, there is an increasing need for electronic components such as sensors, monitors, and communication systems. Additionally, the telemedicine trend, the creation of smart medical devices, and the focus on patient monitoring and diagnostics are some of the factors driving the healthcare segment's rapid expansion in the electronics market.

Region with largest share:

The Asia-Pacific region has the largest share. The robust manufacturing ecosystem in this region, especially in South Korea, Taiwan, China, Japan, and South Korea, which are major players in the global electronics industry, is what propels its dominance. The region's dominance in the market is supported by its robust standing in the manufacturing of PCB-dependent consumer electronics, auto parts, and other electronic machines. Furthermore, the area is a hub for PCB manufacturing and innovation because it also has a highly skilled labor force, sophisticated manufacturing capabilities, and an extensive supply network.

Region with highest CAGR:

The printed circuit board (PCB) market is expected to grow at the highest CAGR in the Europe region due to the region's advanced technology and dynamic electronics industry. In the European PCB landscape, nations like France, Germany, and the United Kingdom are important for fostering innovation and excellence in manufacturing. Demand for cutting-edge PCBs is driven by the automotive industry in particular, where they are used in autonomous driving systems, electric vehicles, and in-car connectivity. Additionally, the growing use of advanced PCB technologies is facilitated by Europe's emphasis on industrial automation, aerospace, and renewable energy.

Key players in the market

Some of the key players in Printed Circuit Board (PCB) market include Nippon Mektron, Ltd., Sumitomo Electric Industries Ltd, Amphenol Corporation, Zhen Ding Technology Holding Limited, Fujikura Ltd., Nitto Denko Corporation, Tripod Technology Corporation, Advanced Circuits Inc., TTM Technologies Inc., Wurth elektronik group (Wurth group), Auter Elektronics Ltd. and Unimicron Technology Corporation.

Key Developments:

In November 2023, Santa Ana-based TTM Technologies Inc., a printed circuit board producer, and San Jose's digital payments company, Paypal Holdings Inc., both reported third-quarter earnings that beat Wall Street expectations. TTM Technologies disclosed a Q3 loss of $37.1 million or 36 cents per share. However, when adjusted for asset impairment and amortization costs, earnings rose to 43 cents per share, exceeding the average estimate of 28 cents per share by Zacks Investment Research's three analysts. 

In October 2023, Amphenol Corp to acquire the company PCTEL. PCTEL Inc, a global provider of wireless technology solutions, said that it had reached a definitive agreement to be purchased by Amphenol Corp. The deal, which is structured as an all cash transaction, values PCTEL Inc at nearly $139.7 million. Under the terms of the deal, approved by PCTEL’s board of directors, PCTEL shareholders will receive $7.00 in cash for every share of common stock they own. 

In March 2023, Sumitomo Electric Industries, Ltd. and US Conec Ltd. announce the execution of a definitive license agreement enabling Sumitomo Electric Lightwave, Corp. to manufacture MMC connector and TMT ferrule components for the deployment of next-generation, high-density, multi-fiber cabling solutions. US Conec's MMC connector combines a novel, reduced footprint multi-fiber ferrule with a very small Form factor (VSFF) connector footprint which is 1/3 the size of the MPO format.

Types Covered:
• Single Sided
• Double Sided
• Multi-Layer
• High Density Interconnect (HDI)
• Other Types 

Substrates Covered:
• Rigid
• Flexible
• Rigid-Flex 

Laminate Materials Covered:
• Flame Retardant (FR-4)
• Flexible (PI,PET)
• Paper
• Composites
• Other Laminate Materials

Raw Materials Covered:
• Glass Fabric
• Epoxy Resin
• Kraft Paper
• Phenolic Resin
• Polyimide Film
• Other Raw Materials 

End Users Covered:
• Industrial Electronics
• Healthcare
• Aerospace and Defense
• Automotive
• IT & Telecom
• Consumer Electronics
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary             
              
2 Preface             
 2.1 Abstract            
 2.2 Stake Holders            
 2.3 Research Scope            
 2.4 Research Methodology            
  2.4.1 Data Mining           
  2.4.2 Data Analysis           
  2.4.3 Data Validation           
  2.4.4 Research Approach           
 2.5 Research Sources            
  2.5.1 Primary Research Sources           
  2.5.2 Secondary Research Sources           
  2.5.3 Assumptions           
              
3 Market Trend Analysis             
 3.1 Introduction            
 3.2 Drivers            
 3.3 Restraints            
 3.4 Opportunities            
 3.5 Threats            
 3.6 End User Analysis            
 3.7 Emerging Markets            
 3.8 Impact of Covid-19            
              
4 Porters Five Force Analysis             
 4.1 Bargaining power of suppliers            
 4.2 Bargaining power of buyers            
 4.3 Threat of substitutes            
 4.4 Threat of new entrants            
 4.5 Competitive rivalry            
              
5 Global Printed Circuit Board (PCB) Market, By Type             
 5.1 Introduction            
 5.2 Single Sided            
 5.3 Double Sided            
 5.4 Multi-Layer            
 5.5 High Density Interconnect (HDI)            
 5.6 Other Types            
              
6 Global Printed Circuit Board (PCB) Market, By Substrate             
 6.1 Introduction            
 6.2 Rigid            
 6.3 Flexible            
 6.4 Rigid-Flex            
              
7 Global Printed Circuit Board (PCB) Market, By Laminate Material             
 7.1 Introduction            
 7.2 Flame Retardant (FR-4)            
  7.2.1 Flame Retardant (FR-4) high Tg           
  7.2.2 Flame Retardant (FR-4) halogen Free           
  7.2.3 Standard & Others           
 7.3 Flexible (PI,PET)            
 7.4 Paper            
 7.5 Composites            
 7.6 Other Laminate Materials            
              
8 Global Printed Circuit Board (PCB) Market, By Raw Material             
 8.1 Introduction            
 8.2 Glass Fabric            
 8.3 Epoxy Resin            
 8.4 Kraft Paper            
 8.5 Phenolic Resin            
 8.6 Polyimide Film            
 8.7 Other Raw Materials            
              
9 Global Printed Circuit Board (PCB) Market, By End User             
 9.1 Introduction            
 9.2 Industrial Electronics            
 9.3 Healthcare            
 9.4 Aerospace and Defense            
 9.5 Automotive            
 9.6 IT & Telecom            
 9.7 Consumer Electronics            
 9.8 Other End Users            
              
10 Global Printed Circuit Board (PCB) Market, By Geography             
 10.1 Introduction            
 10.2 North America            
  10.2.1 US           
  10.2.2 Canada           
  10.2.3 Mexico           
 10.3 Europe            
  10.3.1 Germany           
  10.3.2 UK           
  10.3.3 Italy           
  10.3.4 France           
  10.3.5 Spain           
  10.3.6 Rest of Europe           
 10.4 Asia Pacific            
  10.4.1 Japan           
  10.4.2 China           
  10.4.3 India           
  10.4.4 Australia           
  10.4.5 New Zealand           
  10.4.6 South Korea           
  10.4.7 Rest of Asia Pacific           
 10.5 South America            
  10.5.1 Argentina           
  10.5.2 Brazil           
  10.5.3 Chile           
  10.5.4 Rest of South America           
 10.6 Middle East & Africa            
  10.6.1 Saudi Arabia           
  10.6.2 UAE           
  10.6.3 Qatar           
  10.6.4 South Africa           
  10.6.5 Rest of Middle East & Africa           
              
11 Key Developments             
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures            
 11.2 Acquisitions & Mergers            
 11.3 New Product Launch            
 11.4 Expansions            
 11.5 Other Key Strategies            
              
12 Company Profiling             
 12.1 Nippon Mektron, Ltd.            
 12.2 Sumitomo Electric Industries Ltd            
 12.3 Amphenol Corporation            
 12.4 Zhen Ding Technology Holding Limited            
 12.5 Fujikura Ltd.            
 12.6 Nitto Denko Corporation            
 12.7 Tripod Technology Corporation            
 12.8 Advanced Circuits Inc.            
 12.9 TTM Technologies Inc.            
 12.10 Wurth elektronik group (Wurth group)            
 12.11 Auter Elektronics Ltd.            
 12.12 Unimicron Technology Corporation            
              
List of Tables              
1 Global Printed Circuit Board (PCB) Market Outlook, By Region (2021-2030) ($MN)             
2 Global Printed Circuit Board (PCB) Market Outlook, By Type (2021-2030) ($MN)             
3 Global Printed Circuit Board (PCB) Market Outlook, By Single Sided (2021-2030) ($MN)             
4 Global Printed Circuit Board (PCB) Market Outlook, By Double Sided (2021-2030) ($MN)             
5 Global Printed Circuit Board (PCB) Market Outlook, By Multi-Layer (2021-2030) ($MN)             
6 Global Printed Circuit Board (PCB) Market Outlook, By High Density Interconnect (HDI) (2021-2030) ($MN)             
7 Global Printed Circuit Board (PCB) Market Outlook, By Other Types (2021-2030) ($MN)             
8 Global Printed Circuit Board (PCB) Market Outlook, By Substrate (2021-2030) ($MN)             
9 Global Printed Circuit Board (PCB) Market Outlook, By Rigid (2021-2030) ($MN)             
10 Global Printed Circuit Board (PCB) Market Outlook, By Flexible (2021-2030) ($MN)             
11 Global Printed Circuit Board (PCB) Market Outlook, By Rigid-Flex (2021-2030) ($MN)             
12 Global Printed Circuit Board (PCB) Market Outlook, By Laminate Material (2021-2030) ($MN)             
13 Global Printed Circuit Board (PCB) Market Outlook, By Flame Retardant (FR-4) (2021-2030) ($MN)             
14 Global Printed Circuit Board (PCB) Market Outlook, By Flame Retardant (FR-4) high Tg (2021-2030) ($MN)             
15 Global Printed Circuit Board (PCB) Market Outlook, By Flame Retardant (FR-4) halogen Free (2021-2030) ($MN)             
16 Global Printed Circuit Board (PCB) Market Outlook, By Standard & Others (2021-2030) ($MN)             
17 Global Printed Circuit Board (PCB) Market Outlook, By Flexible (PI, PET) (2021-2030) ($MN)             
18 Global Printed Circuit Board (PCB) Market Outlook, By Paper (2021-2030) ($MN)             
19 Global Printed Circuit Board (PCB) Market Outlook, By Composites (2021-2030) ($MN)             
20 Global Printed Circuit Board (PCB) Market Outlook, By Other Laminate Materials (2021-2030) ($MN)             
21 Global Printed Circuit Board (PCB) Market Outlook, By Raw Material (2021-2030) ($MN)             
22 Global Printed Circuit Board (PCB) Market Outlook, By Glass Fabric (2021-2030) ($MN)             
23 Global Printed Circuit Board (PCB) Market Outlook, By Epoxy Resin (2021-2030) ($MN)             
24 Global Printed Circuit Board (PCB) Market Outlook, By Kraft Paper (2021-2030) ($MN)             
25 Global Printed Circuit Board (PCB) Market Outlook, By Phenolic Resin (2021-2030) ($MN)             
26 Global Printed Circuit Board (PCB) Market Outlook, By Polyimide Film (2021-2030) ($MN)             
27 Global Printed Circuit Board (PCB) Market Outlook, By Other Raw Materials (2021-2030) ($MN)             
28 Global Printed Circuit Board (PCB) Market Outlook, By End User (2021-2030) ($MN)             
29 Global Printed Circuit Board (PCB) Market Outlook, By Industrial Electronics (2021-2030) ($MN)             
30 Global Printed Circuit Board (PCB) Market Outlook, By Healthcare (2021-2030) ($MN)             
31 Global Printed Circuit Board (PCB) Market Outlook, By Aerospace and Defense (2021-2030) ($MN)             
32 Global Printed Circuit Board (PCB) Market Outlook, By Automotive (2021-2030) ($MN)             
33 Global Printed Circuit Board (PCB) Market Outlook, By IT & Telecom (2021-2030) ($MN)             
34 Global Printed Circuit Board (PCB) Market Outlook, By Consumer Electronics (2021-2030) ($MN)             
35 Global Printed Circuit Board (PCB) Market Outlook, By Other End Users (2021-2030) ($MN)             
              
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.              

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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