Global PCB industry market analysis in 2023
The overall fluctuation of global PCB output value rises
From 2017 to 2021, the overall global PCB output value fluctuated and rose. In 2021, due to the recovery of demand, the upgrading of technical requirements and the sharp rise in raw material prices and other factors, overallly, PCB production costs increased, average prices rose, and promoted strong growth in global PCB output.
In 2021, the global PCB output value reached US$89.22 billion, a year-on-year increase of 22.10%. The growth rate of global PCB output value is almost twice that of the area growth rate of 13.2%, indicating that the simultaneous increase in price and sales has contributed to the substantial increase in output value.
The global PCB output value 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 2021, the output value of China reached 57% of the global output value, Taiwan accounted for 12%, South Korea and Japan accounted for 10% and 8% respectively. South Korea and Taiwan mainly focus on packaging substrates and HDI; Japan focuses on high-end HDI, packaging substrates, and high-level flexible boards; China still accounts for the majority of low-end boards.
The world’s top 100 PCB manufacturers are concentrated in China
Judging from the regional distribution of the world’s top 100 PCB manufacturing enterprises, the current distribution pattern of global manufacturers is mainly in China. In 2021, among the top 100 PCB manufacturing enterprises in the world, there are 62 in China, of which 39 are in the top 100 in mainland China, and 23 are in Taiwan; in addition, there are 19 in Japan and 12 in South Korea.
Rigid single-layer board is the mainstream product of PCB in the world
From the perspective of the supply structure of global PCB products, the current main products are standard multi-layer boards, flexible boards, HDI, and IC carrier boards, while traditional single-layer board products have a downward trend,the supply of rigid-flex boards and other PCB boards is relatively small.
Among the main products in 2021, standard multilayer boards accounted for about 38.6%, HDI boards accounted for about 15.5%, flexible boards accounted for about 15.4%, and IC substrate boards accounted for about 14.8%.
The communication field is the main application market of PCB
At present, PCB is an indispensable accessory of electronic equipment. According to the classification of existing application fields, communication, computer, consumer electronics, medical equipment, automotive electronics, aerospace, industrial electronics and other seven categories ranked in the top four in 2021. Communications, computers, automotive electronics and consumer electronics accounted for 31%, 23%, 17% and 16% respectively.
With the continuous advancement of 5G construction, due to the high-speed and high-frequency characteristics of 5G, as far as a single base station is concerned, the value of communication boards will also be greatly improved, and the demand for circuit boards in 5G base station construction will be further stimulated.
Secondly, due to the increase of 5G channels, the requirements for the area and number of layers of a single PCB are higher. The area has increased from 15cm to 35cm, and the number of PCB layers has also been upgraded from double-sided boards to about 12-layer boards. In addition, 5G terminal equipment, such as mobile phones, smart watches, etc., must also be updated simultaneously with communication technology, and the demand for circuit boards in this part is much greater than that in infrastructure.
In the current environment of accelerated evolution of cloud technology, 5G network construction, big data, artificial intelligence, sharing economy, industry 4.0, and the Internet of Things, the PCB industry, as the “mother of electronic products”, will become a connecting link in the entire electronics industry chain.
From 2016 to 2021, the scale of the global PCB market has shown a fluctuating upward trend. The printed circuit board industry was affected by the new crown epidemic, and the global market size in 2019 decreased by 1.3% year-on-year. After 2020, the global PCB market will recover from the epidemic, and the market size rose from about US$65 billion in 2020 to more than US$80 billion in 2021, a year-on-year increase of about 23%.
On the whole, under the background of the post-epidemic era, the strong downstream consumer demand has pushed the global PCB to achieve a double-digit growth rate. Therefore, the demand side of the global PCB industry market is relatively active, laying a good foundation for the steady growth of future output value.
With brand new technologies such as 5G, Internet of Things and Artificial Intelligence having a huge impact on the world of electronics, there are many developments in the circuit board manufacturing industry now. New trends in the board development process are quickly catching up. It is estimated that the global PCB market size will be approximately US$70-75 billion in 2023.
As the competition in the circuit board industry continues to intensify, mergers and acquisitions among large enterprises and capital operations are becoming more frequent.
Excellent circuit board companies are paying more and more attention to the analysis and research of the industry market, especially the in-depth analysis of the current market environment and customer demand trends, in order to occupy the market in advance and gain the first-mover advantage. Because of this, a large number of excellent brands have risen rapidly and gradually become leaders in the industry.