Printed Circuit Board Market Size, Share, Growth Analysis, By Product Type(Standard Multilayer PCBs, Rigid 1-2 Sided PCBs, HDI/Micro-via/Build-up, Flexible PCBs), By End User(Industrial Electronics, Healthcare, Aerospace & Defense, Automotive), By Product(Rigid PCBs, Standard multilayer, HDI/Build-up/Microtia, Flexible Circuits), By Laminate Materials(FR-4, FR-4 high Tg, FR-4 halogen free, Standard & Others), By Raw Material(Glass Fabric, Epoxy Resin, Kraft Paper, Phenolic Resin), By Application(Industrial Electronics, Aerospace & Defense, IT & Telecom, Automotive), By Region - Industry Forecast 2024-2031

Global Printed Circuit Board Market size was valued at USD 78 billion in 2019 and is poised to grow from USD 82.41 billion in 2023 to USD 135.27 billion by 2031, growing at a CAGR of 5.66% in the forecast period (2024-2031).

The printed circuit board industry is moderately fragmented and some of the notable players are Amphenol Corporation; Amperex Technology Ltd., Apex Microelectronics Company Limited, Autosplice, Inc., Auter Electronics Ltd. and so on. Manufacturers of printed circuit boards (PCBs) are conducting research & development activities for the composition of effective material to be used in manufacturing. Major players are concentrating on productivity along with the quality of their products to capture an increased customer base. The market players are involved in various expansion strategies, including voracious research & development activities, collaborations and mergers & acquisitions.  'Nippon Mektron Ltd.', 'TTM Technologies, Inc.', 'Unimicron Technology Corporation', 'Zhen Ding Technology Holding Limited', 'Young Poong Electronics Co. Ltd.', 'Samsung Electro-Mechanics Co., Ltd.', 'Ibiden Co., Ltd.', 'Compeq Manufacturing Co., Ltd.', 'Tripod Technology Corporation', 'Daeduck GDS Co., Ltd.', 'Fujikura Ltd.', 'Sumitomo Electric Industries, Ltd.', 'CMK Corporation', 'AT&S Austria Technologie & Systemtechnik AG', 'Chin-Poon Industrial Co., Ltd.', 'Kingboard Laminates Holdings Limited', 'Shennan Circuits Co., Ltd.', 'WUS Printed Circuit Co., Ltd.', 'KCE Electronics Public Company Limited', 'Multek Corporation'

The micro sensors, which enable automotive manufacturers to embed new, more advanced technology for safety and telecommunications, is expected to drive demand for high-end PCBs. Many electronic components exist in modern cars such as sensors, cameras, different radar systems (ARRAD), an infotainment system, and commercial vehicle advanced driver assistance system (ADAS).  

Growing Application of Advanced Electronic Products: One of the trends in the market will be increased market penetration by miniaturized electronic components. The market is experiencing a rising demand for power efficient low data transfer. Therefore, this trend for miniaturization of electronic components is becoming popular in the market resulting in high density of circuit so a complex interconnection between components. As high-density circuits constitute HDI substrates, it facilitates the mounting of electronic components on the PCB and sends and receives signals to other components as well.  

Asia-Pacific accounted for the largest printed circuit board market share in terms of region in 2023. This is mainly due to the growing application of PCB in electronic devices and also the presence of a large number of semiconductor manufacturers in the region. In addition, rising acceptance of smart electronic implements in the region especially among developing countries such as India, China, Japan is also accounting for growth of printed circuit board market in this region. Furthermore, growth of APAC printed circuit boards will increase the deployment in 5G network in countries like South Korea, China & Japan thereby driving the growth of this market.