PCB market development situation in 2023

PCB-market-development-situation-in-2023

At present, the production areas of printed circuit boards in the world are mainly concentrated in the Asia-Pacific region, including China, South Korea, Japan and other countries and regions, and the output value of North America and Western Europe is relatively low.

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    PCB output value distribution in different countries

    In 2021, the global output value of printed circuit boards reached 89.222 billion US dollars, of which the output value China accounted for 57%, and the output value of Taiwan accounted for 12%. China accounted for 69% of the output value of the global PCB industry.

    From 2017 to 2021, the overall output value of PCB in China showed a trend of gradual increase, and the growth rate fluctuated significantly. In 2021, due to the impact of factors such as demand recovery, upgrading of technical requirements and substantial rise of raw material prices, the output value of PCB in China grew strongly, reaching 51.166 billion US dollars, with a year-on-year growth of 28.4%.

    From 2017 to 2021, the output value of PCB manufacturing industry in Taiwan, China, declined first and then increased. After a periodic decline in 2019, it has recovered its growth momentum since 2020. In 2021, the output value of PCB manufacturing industry in Taiwan reached USD 10.716 billion, with a year-on-year growth of 21.9%.

    PCB manufacturing industry

    According to the data released by the World Electronic Circuit Council (WECC), from 2016 to 2021, the output value of the PCB manufacturing industry in South Korea showed small fluctuations. In 2021, due to the combination of factors such as the rise in global commodity prices, the depreciation of the US dollar and the rise in terminal demand, the output value of the PCB manufacturing industry in South Korea reached 9.437 billion US dollars, with a year-on-year growth of 20%.

    According to the data released by Japan Electronics and Information Technology Industry Association (JEITA), the output value of Japan’s PCB manufacturing industry fluctuated from 2016 to 2021. After experiencing a gradual decline in 2019, it has recovered its growth momentum since 2020. 

    In 2021, the output value of Japan’s PCB manufacturing industry reached 648.28 billion yen, with a year-on-year growth of 33.2%, leading the world in growth rate. According to the exchange rate at the end of December 2021, the output value of PCB in Japan in 2021 is about $5.635 billion

    PCB product market share

    From the perspective of PCB process structure, multi-layer, HDI and FPC products account for more than 70% of the global total output value of PCB. These three kinds of products will still be the most important market demand in the future, and are the main direction of the continuous growth of PCB industry.

     According to Prismark forecast, the global multi-layer, HDI and FPC product output compound annual growth rate is expected to be about 4.8%, 4.9% and 4.2%, respectively, from 2021 to 2026.

    In China, in 2021, multi-layer panels will account for 47.6%, and single and double panels for 15.5%. Followed by HDI board, accounting for 16.6%. Flexible plate accounted for 15%, packaging substrate accounted for a smaller proportion of 5.3%. 

    Compared with advanced PCB manufacturing countries such as Japan, at present our high-end printed circuit board account is still low, especially packaging base board, high level HDI, high multilayer board and so on.

    FPC

    FPC is widely used in communication, consumer electronics, automotive electronics, industry, military, aerospace and other fields, and its market demand is closely related to the demand for downstream terminal electronic products. 

    From the perspective of the main downstream application structure of FPC, the output value of global FPC is mainly concentrated in the field of communication and computer, in which communication accounts for 33.0%, and computer accounts for 28.6%. Consumer electronics, dominated by mobile phones, constitute the main contribution to the output value of FPC. 

    FPC

     

    In the future, the demand for FPC is expected to increase as the volume of consumer electronics products such as communication electronics, electric vehicles, and wearable devices increases.

    Single and double panels and common multilayer panels

    In 2021, the global output value of single and dual panels is $9.3 billion and that of multilayer panels is $31 billion. The compound growth rate of single and dual panels and multilayer panels is expected to reach 6.4% and 4.8%, respectively, from 2021 to 2026.

    HDI board

    HDI board is high-density interconnection board, which is a kind of circuit board with relatively high circuit distribution density using micro-blind buried hole technology. It is characterized by light, thin, short and small.

    In recent years, benefiting from the function expansion of smart terminals, the demand for smart phones, tablets, VR and smart wearable devices continues to grow, bringing about the incremental demand for HDI boards and a large market space. According to the forecast, the compound growth rate of HDI from 2021 to 2026 is 4.9%, and the global output value of HDI board will reach $15 billion in 2026.

    IC carrier

    IC-carrier

    The QFN packaging substrate is developed on the basis of the HDI board. It is used to encapsulate chips and provides multi-dimensional protection such as reinforcement, support, and heat dissipation for chip on board.

    According to relevant data, the output value of the global IC carrier board through PCB soldering process in 2021 will reach 14.2 billion dollars, and the compound growth rate is expected to be 9.7% from 2021 to 2026. The overall market size will reach vv to 17.2 billion dollars in 2026, which is the fastest growing PCB segment.

    FAQ

    From the perspective of PCB process structure, multi-layer, HDI and FPC products account for more than 70% of the global total output value of PCB. These three kinds of products will still be the most important market demand in the future, and are the main direction of the continuous growth of PCB industry. According to Prismark forecast, the global multi-layer, HDI and FPC product output compound annual growth rate is expected to be about 4.8%, 4.9% and 4.2%, respectively, from 2021 to 2026.

    FPC is widely used in communication, consumer electronics, automotive electronics, industry, military, aerospace and other fields, and its market demand is closely related to the demand for downstream terminal electronic products. From the perspective of the main downstream application structure of FPC, the output value of global FPC is mainly concentrated in the field of communication and computer, in which communication accounts for 33.0%, and computer accounts for 28.6%. Consumer electronics, dominated by mobile phones, constitute the main contribution to the output value of FPC. In the future, the demand for FPC is expected to increase as the volume of consumer electronics products such as communication electronics, electric vehicles, and wearable devices increases.

    HDI board is high-density interconnection board, which is a kind of circuit board with relatively high circuit distribution density using micro-blind buried hole technology. It is characterized by "light, thin, short and small".

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