Global Printed Circuit Board Market

Global Printed Circuit Board Market Size, Share, Growth Analysis, By Type(Single-Sided, Double-Sided), By Substrate(Rigid, Flexible), By End-User(IT & Telecommunication, Consumer Electronics), By Product(Rigid PCBs, Standard multilayer), By Laminate Materials(FR-4, FR-4 high Tg), By Raw Material(Glass Fabric, Epoxy Resin), By Application(Industrial Electronics, Aerospace & Defense) - Industry Forecast 2022-2028


Report ID: SQSG45K2010 | Region: Global | Published Date: December, 2022 | Pages: 165

Global Printed Circuit Board Market Insights

Global Printed Circuit Board Market was valued at USD 69.31 billion in 2021, and it is expected to attain a value of USD 91.87 billion by 2028 with a CAGR of 4.65% over the forecast period (2022-2028).

A battery, resistors, transistors, LEDs, inductors, capacitors, and other electronic components are all connected by printed circuit boards, which also offer mechanical support. Printed wiring board (PWB) and printed wiring cards are additional names for PCB (PWC). Most frequently, materials like fiberglass, composite epoxy, or other composite materials are used to make them. Although they come in a wide range of types, rigid-flex PCBs and flexible circuits are the most frequently used PCBs in electronic circuits. Smart devices and rising consumer demand for consumer electronics are the main drivers of market expansion. Additionally, the market is being driven by factors like rising consumer spending, a rise in demand from emerging economies, and an increase in demand for eco-friendly PCBs as a result of an increase in electronic waste.

The market is expanding as a result of rising government support for sustainability initiatives and environmental protection, as well as rising demand for digitalization in developing nations. Modern PCB designs maximize utilization and reduce costs, which includes base material replacement. The booming demand for digital goods and equipment, the expansion of the healthcare device market, the rising demand for double-sided PCB, and the sharp increase in demand for high-tech features in the automotive sector are just a few of the factors driving the PCB market's expansion.

Market snapshot

Global Market Size

USD 69.31 billion

Largest Segment

IT & Telecommunication

Fastest Growth

IT & Telecommunication

Growth Rate

4.65% CAGR

Global Printed Circuit Board Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Printed Circuit Board Market Size By Application, 2021-2028 ($ Bn)
Global Printed Circuit Board Market Size By Application, 2021-2028 (%)

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Global Printed Circuit Board Market Segmental Analysis

The global printed circuit board market is segmented based on type, substrate, end-user, product, laminate materials, raw material, application, and regions. Based on type the market is further sub segmented into single-sided, double-sided, multi-layer, High Density Interconnect (HDI) and other segments. On the basis of substrate, the market can be bifurcated into rigid, flexible, rigid-flex segments. Based on end-users the market can be segregated into IT & telecommunication, consumer electronics, industrial electronics, automotive, aerospace and defense and others sub segments. Based on product, the market is segmented into Rigid PCBs, Standard multilayer, HDI/build-up/microtia, Flexible circuits, IC substrate, Others. Based on laminate materials, the market is segmented into FR-4, FR-4 high Tg, FR-4 halogen free, Standard & Others, Flexible (PI,PET), Paper, Composites, Others. Based on raw material, the market is segmented into Glass fabric, epoxy resin, kraft paper, phenolic resin, and polyimide film. Based on application, the market is segmented into Industrial electronics, aerospace & defense, IT & telecom, automotive, consumer electronics, and others. The regional insights of the market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.

Analysis by End-User

Industrial electronics segment dominated the market and is predicted to grow with a substantial CAGR within the forecast period. Additionally, the industry has grown due to the high demand for consumer electronics like smartphones. Three-dimensional electronic products are expected to revolutionize the design of electrical systems in the future. These systems build three-dimensional PCBs by building up layers of a substrate material and then adding a functional ink on top. After that, producers put surface-mounting methods to use to create a full system. Particularly when compared to two-dimensional circuit boards, three-dimensional printed electronics may be able to provide PCB manufacturers and consumers with significant production and technical advantages.

Global Printed Circuit Board Market By Application , 2021(%)

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Global Printed Circuit Board Market Regional Insights

The market is dominated by North America due to the region's thriving consumer electronics industry, increasing use of IoT-based applications, and rising usage in the automotive sector. One prominent international manufacturer of printed circuit boards, TTM Technologies, Inc., had, for instance, announced the opening of a new Engineering Center in New York. Due to China's larger market share and the region's greater feasibility as a manufacturing base for key electronic and communication components, Asia Pacific is predicted to hold the second-largest position in the global market. Additionally increasing their investments in the electronics sector are nations from the Middle East and Africa, which contributes to the market's expansion.

Global Printed Circuit Board Market By Geography, 2021 - 2028
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Global Printed Circuit Board Market Dynamics

Driver

  • Electronics, automotive (dashboards, engine management systems, power supplies, etc.), medical (heart monitors, imaging probes, drug metering devices), defense (radar, armored car control and security), lighting, broadcasting, aerospace, and many other industries use printed circuit Boards. It serves as the basis for the majority of electronic products and is still developing into new markets and uses.
  • The majority of electronic products, from consumer electronics to high-tech industrial products, use PCBs, which are the backbone of the electronics industry. Rising disposable incomes and rising urbanization levels in the nation have driven double-digit growth rates in the Indian market for electronic devices. This is anticipated to fuel the demand for more complex PCBs in the near future, along with the miniaturization of semiconductor devices and improved functionality in electronic products.

Restraint 

  • Fluctuating raw material prices in the industry is a major factor which is hindering the market growth. Low demand in China created issues for the supply chain system, but PCB manufacturers worldwide have not developed significant adaptive changes to increase their manufacturing capacities. For instance, a report from the Semiconductor Industry Association published in February suggested that COVID-19 could have long-term effects on business operations in other countries.

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Global Printed Circuit Board Market Competitive Landscape

In coming years, a number of companies will try to deploy their partnerships and collaborations as the market is still in its early stages. However, the market consists of a large number of medium and small-scale manufacturers.

Top Players Company Profiles 

Recent Developments

  • In February 2020, For the Japanese and Indian markets, Panasonic intended to introduce several new connected home appliances.
  • In January 2020, Leading producers of consumer electronics, LG and Samsung, had previously announced the release of micro-LED TVs for both residential and commercial use.

Global Printed Circuit Board Key Market Trends

  • The production of devices needed for military navigation, guidance and control, electronic warfare, missiles and surveillance, and communication relies heavily on PCBs. India currently has the fifth-largest defense budget in the world, and over the next five years, these numbers are anticipated to rise steadily. Additionally, the nation's defense equipment manufacturing industry is expanding quickly thanks to rising demand and expanding government initiatives. Within the following five years, this is also expected to fuel PCB demand.

Global Printed Circuit Board Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the global printed circuit board market is segmented based on type, substrate, end-user and regions. Industrial electronics segment dominated the market and is predicted to grow with a substantial CAGR within the forecast period. Additionally, the industry has grown due to the high demand for consumer electronics like smartphones. Three-dimensional electronic products are expected to revolutionize the design of electrical systems in the future. The market is dominated by North America due to the region's thriving consumer electronics industry, increasing use of IoT-based applications, and rising usage in the automotive sector.

Report Metric Details
Market size value in 2021 USD 69.31 billion
Market size value in 2028 USD 91.87 billion
Growth Rate 4.65%
Base year 2021
Forecast period 2022-2028
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Single-Sided, Double-Sided, Multi-Layer, High Density Interconnect (HDI), Others
  • Substrate
    • Rigid, Flexible, Rigid-Flex
  • End-User
    • IT & Telecommunication, Consumer Electronics, Industrial Electronics, Automotive, Aerospace, Defense, Others
  • Product
    • Rigid PCBs, Standard multilayer, HDI/Build-up/Microtia, Flexible Circuits, IC Substrate, Others
  • Laminate Materials
    • FR-4, FR-4 high Tg, FR-4 halogen free, Standard & Others, Flexible (PI,PET), Paper, Composites, Others
  • Raw Material
    • Glass Fabric, Epoxy Resin, Kraft Paper, Phenolic Resin, Polyimide Film
  • Application
    • Industrial Electronics, Aerospace & Defense, IT & Telecom, Automotive, Consumer Electronics, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Printed Circuit Board Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Printed Circuit Board Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Printed Circuit Board Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Printed Circuit Board Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Printed Circuit Board Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Printed Circuit Board Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Printed Circuit Board Market was valued at USD 69.31 billion in 2021, and it is expected to attain a value of USD 91.87 billion by 2028 with a CAGR of 4.65% over the forecast period (2022-2028).

In coming years, a number of companies will try to deploy their partnerships and collaborations as the market is still in its early stages. However, the market consists of a large number of medium and small-scale manufacturers.'AT&S (US)','Epitome Components Ltd. (India)','Shogini Technoarts (India)','Cipsa Tec India Pvt Ltd (India)','Nano Electrotech Pvt Ltd (India)','PCB Power Ltd (India)','Sulakshana Circuits Ltd (India)','Vintek Circuit India Pvt Ltd (India)','Hi-Q Electronics Pvt Ltd (India)','Meena Circuit Pvt Ltd (India)','India Circuit Ltd (Garg Electronics) (India)'

Electronics, automotive (dashboards, engine management systems, power supplies, etc.), medical (heart monitors, imaging probes, drug metering devices), defense (radar, armored car control and security), lighting, broadcasting, aerospace, and many other industries use printed circuit Boards. It serves as the basis for the majority of electronic products and is still developing into new markets and uses.

The production of devices needed for military navigation, guidance and control, electronic warfare, missiles and surveillance, and communication relies heavily on PCBs. India currently has the fifth-largest defense budget in the world, and over the next five years, these numbers are anticipated to rise steadily. Additionally, the nation's defense equipment manufacturing industry is expanding quickly thanks to rising demand and expanding government initiatives. Within the following five years, this is also expected to fuel PCB demand.

The market is dominated by North America due to the region's thriving consumer electronics industry, increasing use of IoT-based applications, and rising usage in the automotive sector. One prominent international manufacturer of printed circuit boards, TTM Technologies, Inc., had, for instance, announced the opening of a new Engineering Center in New York. Due to China's larger market share and the region's greater feasibility as a manufacturing base for key electronic and communication components, Asia Pacific is predicted to hold the second-largest position in the global market. Additionally increasing their investments in the electronics sector are nations from the Middle East and Africa, which contributes to the market's expansion.

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Global Printed Circuit Board Market

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