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

Printed Circuit Board Market Driver

Growing Automotive Demand  

• 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).  

Booming Smartphone Sales  

• Rising volume of budget smartphones suggests increased production of phone PCBs. There are an estimated 1.3 billion smartphones shipped across the globe each year, according to NIDEC. These trends primarily reflect actual market opportunities for the PCB, which is a crucial and essential mobile phone component that connects and supports other components such as microprocessors, memory chips, sensors, and other integrated circuits.  

Printed Circuit Board Market Restraints 

Fluctuating Supply and Price for Raw Materials  

• A major challenge restraining the growth of the market is increasing cost pressures on manufacturers. Poor bilateral trade agreements such as trade wars between two economies affect the global electronic components market at large. Poor trade relations have a notable influence on the demand for such products in their associated markets and lead to a demand-supply imbalance in the electronic components market.  

Regulations on Electronic Waste  

• The growing environmental issues regarding electronic waste demand immediate attention, particularly concerning printed circuit boards. Circuit boards harbor an array of hazardous materials, such as lead, mercury, cadmium, and flame retardants containing bromine, which when mishandled can endanger both human health and the environment. Tackling the safe disposal of circuit boards worldwide demands a collaborative effort to protect both current and future generations.