Global PCB output value scale overall fluctuation rise

Global PCB output value scale overall fluctuation rise

From 2017 to 2021, the overall scale of global PCB output value showed a trend of fluctuation and increase, and the growth rate fluctuated significantly.

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    The overall scale of global PCB output value

    In 2021, due to the recovery of demand, upgrading of technical requirements, and substantial rise in raw material prices and other factors, the overall PCB production cost and average price will increase, and promote the strong growth of global PCB output value.

     In 2021, the global output value of PCB reached 89.22 billion US dollars, with a year-on-year growth of 22.10%. The growth rate of the global output value of PCB was almost twice that of the area growth rate of 13.2%, indicating that the simultaneous growth of price and sales volume contributed to the substantial growth of the output value.

    Global PCB output is concentrated in the Asia-Pacific region

    From the perspective of the regional output value pattern of the global printed circuit board (PCB) manufacturing industry, China, Taiwan, Japan and South Korea are the main manufacturing bases of the global PCB manufacturing industry. In 2023, the Chinese will account for 57 percent of global output, Taiwan 12 percent, South Korea 10 percent and Japan 8 percent. The packaging substrate and HDI are mainly used in Korea and Taiwan. Japan focuses on high order HDI, packaging substrate, high flexible plate; China is still the majority of low-end board.

    WECC’s “2021 World PCB Industry Report” was released in October 2022. The above data are the latest.

    The resources of the global top 100 PCB enterprises are concentrated in China

    From the regional distribution of the world’s top 100 PCB manufacturing enterprises, the current global enterprise resource distribution pattern is mainly in China. In 2021, among the world’s top 100 PCB manufacturing enterprises, there are 62 in China, among which 39 are the top 100 enterprises in China and 23 are in Taiwan. There are 19 in Japan and 12 in Korea.

    the overall trend of PCB industry development in China

    In the past 20 years, the overall trend of PCB industry development in China is basically the same as the global trend of PCB industry. Under the overall trend of the global PCB industry transferring to Asia, China has attracted the investment of many PCB enterprises, benefiting from the advantages of huge market space, relatively low labor cost, industrial policy support and mature industrial processing technology.

    On the one hand, a large number of foreign enterprises transfer or increase production capacity to China, on the other hand, domestic enterprises in the mainland accelerate the expansion of production capacity, China has become the world’s largest PCB industrial base, accounting for more than 50% of the global market share.

    The sustainable and healthy development of PCB industry in China has great influence on the development of PCB industry in the world and even the global electronic information industry.

    According to Prismark data, from 2010 to 2019, the compound annual growth rate of output value of large PCB in China reached 5.60%, which is much higher than the global average growth rate. The compound growth rate of PCB output value in China is expected to be about 4.88% during 2019-2024, which will continue to be higher than the global average growth rate.

    Rigid single - and double-layer PCB is the world's mainstream products

    Rigid-single

    From the perspective of the global PCB product supply structure, the main products are standard, single sided PCB multilayer board, flexible board, HDI, IC carrier board, PCB breadboard while the traditional single and double layer board products have a declining trend, rigid flexible board and other PCB board supply scale is small. In the main products in 2021, standard multilayer board accounts for about 38.6%, HDI board for about 15.5%, flexible board for about 15.4%, IC carrier board for about 14.8%.

    Communication is the most important application market of PCB

    At present, PCB has become an indispensable part of electronic equipment. According to the existing application fields, it can be divided into seven categories: communication, computer, consumer electronics, medical devices, automotive electronics, aerospace and industrial electronics.

    In 2021, the top four are communication, computer, automotive electronics and consumer electronics. They accounted for 31%, 23%, 17% and 16%, respectively. The telecommunications industry is on the decline, while computers, automobiles, and consumer electronics are on the rise.

    Regional structural characteristics of PCB in China

    Regional structural characteristics of PCB in China

    China has formed a PCB industrial cluster with the Pearl River Delta and Yangtze River Delta as the core areas. According to CPCA statistics, in 2019, the PCB industry was distributed in 22 provinces and municipalities, with a total of 2,372 enterprises, among which 1,437 were PCB enterprises in Guangdong Province, accounting for 60.58%. 

    There were 341 PCB enterprises in Jiangsu Province, accounting for 14.38%; There are 108 PCB enterprises in Zhejiang Province, accounting for 4.55%. The PCB enterprises in Guangdong, Jiangsu, Zhejiang, Shanghai, Fujian and other coastal areas account for more than 84% of the total number of PCB manufacturers in China.

    In recent years, with the rise of labor costs and the improvement of environmental protection requirements in coastal areas, some PCB enterprises begin to relocate their production capacity to provinces and cities with better industrial conditions in the central and western regions, such as Jiangxi, Hubei, Hunan, Sichuan, etc., which may form a situation of common development in the Pearl River Delta, Yangtze River Delta, Bohai Rim and central and western regions in the future.

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