PCB Market Expected to be Worth $19.06B by 2027 Driven by Rising Smartphones Adoption

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Technavio has added the report titled "Printed Circuit Board (PCB) Market by End-user, Product, and Geography - Forecast and Analysis 2023-2027' to their offerings. This report covers the printed circuit board (PCB) market, analyzing it based on end-users (such as communication network infrastructure, consumer electronics, automotive electronics, military and aerospace, and others), product types (including 4-6 layer, substrates, 1-2 sided, flexible, and others), and geographical regions (APAC, North America, Europe, Middle East and Africa, and South America). Technavio, holding ISO 9001:2015 certification, has established successful partnerships with over 100 Fortune 500 companies for more than 16 years. The expected growth disparity in the PCB market between 2022 and 2027 amounts to an impressive USD 19.06 billion.

The rising adoption of smartphones is the key factor driving the market growth. Smartphone usage is expected to increase rapidly due to the availability of low-cost smartphones and increasing global internet penetration. Due to the increasing disposable income of individuals and large populations, developing countries such as India and China are becoming important emerging markets for smartphones. In addition, the development of substrate-type PCBs (SLP) has led to PCB manufacturers adopting a modified semi-additive process (mSAP). Hence, these factors are expected to drive market growth during the forecast period.

The environmental concerns over the disposal of PCBs are significant challenges restricting market growth. PCBs contain hazardous components and materials that are not easy to handle and can, therefore be harmful to the environment. PCB waste includes metals, plastics, ceramics, and copper. In addition, another problem that arises with PCB destruction is that all the different components of the PCB must be disassembled before the PCB is destroyed. Industry is also trying to recycle PCBs, but recycling leads to elevated temperatures and the risk of mechanical shock and separation. Hence, these factors are expected to restrict market growth during the forecast period.

The market share growth by the communication network infrastructure segment will be significant during the forecast period. In the communications network infrastructure segment, demand for PCBs is expected to increase due to positive market trends in broadband and the management of large data volumes. Network operators aim to provide faster data connections, fast high-definition video streaming, and a wide range of multimedia applications.  Furthermore, 4G networks have taken over 3G, and developed economies like the US are moving towards 5G. This will promote the development of communication network infrastructure, thereby increasing the demand for PCBs, as communication network infrastructure devices such as enterprise network equipment, wired network equipment, network equipment, etc. Subscribers and cable/multi-service operators require a PCB to operate. Hence, these factors are expected to drive segment growth during the forecast period.

APAC is estimated to contribute 84% to the growth of the global market during the forecast period. The PCB market in APAC is expected to register one of the fastest growth rates during the forecast period. In 2020, China, Taiwan, South Korea, and Japan were the major revenue contributors and the largest markets for PCBs in APAC.

Key Companies in the printed circuit board (PCB) market:

Advanced Circuits Inc., China Circuit Technology Shantou Corp., Compaq Manufacturing Co. Ltd., Daedeok Electronics Co. Ltd., Dana Inc., Dynamic Electronics Co. Ltd., Ibiden Co. Ltd., Korea Circuit Co. Ltd., MFS Technology S Pte Ltd., NOK Corp., Samsung Electronics Co. Ltd., Shenzhen Kinwong Electronic Co. Ltd., Shenzhen SenYan Circuit Co. Ltd., Sumitomo Electric Industries Ltd., SVR Technologies Pvt. Ltd., Toyota Motor Corp., TTM Technologies Inc., United Microelectronics Corp., Vishal International, Zhen Ding Technology Holding Ltd.

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Click here to view the report titled "Printed Circuit Board (PCB) Market by End-user, Product, and Geography - Forecast and Analysis 2023-2027".

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