PCB Market Size to Grow By USD 29.06B from 2024-2028, Adoption of Smartphones to Boost Growth

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The global printed circuit board (PCB) market size is estimated to grow by USD 29.06 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.6% during the forecast period. 

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Technavio has announced its latest market research report titled Global Printed Circuit Board (PCB) Market 2024-2028

Key Market Trends Fueling Growth

Printed Circuit Boards (PCBs) are essential components in various industries, driving automation and efficiency. They ensure optimum power consumption in high-density applications, contributing to reduced operation costs and improved product quality. PCBs exhibit desirable properties such as dielectric strength, dimensional stability, electrical insulation, mechanical strength, flame retardancy, thermal insulation, and high-temperature performance. The growing adoption of industrial robots, automation machinery, and high-power electrical devices further boosts the PCB market. Additionally, PCBs are vital in electronic equipment, including 5G infrastructure, the Internet of Things (IoT), the Internet of Vehicles (IoV), artificial intelligence, consumer electronics, and smart devices. The PCB foundation material's reliability and thermal stability are crucial factors in maintaining the performance of these advanced technologies. However, concerns regarding electronic waste, lead, mercury, cadmium, and brominated flame retardants necessitate the development of eco-friendly and sustainable PCB solutions. 

Market Challenges

• Printed Circuit Boards (PCBs) are essential components in various industries, including semiconductors, automotive, communications, industrial/medical, and telecommunication infrastructure. Made of metal, plastic, ceramic, copper, and epoxy resins, PCBs contain hazardous components that pose environmental risks due to their non-disposability. The industry has shifted from lead solders to lead-free alternatives to reduce toxicity. Recycling PCBs presents challenges such as temperature rise, mechanical shocks, and delamination. Key applications include semiconductor plants, automobile battery control systems, engine timing systems, digital displays, audio systems, power relays, and antilock brake systems. PCBs are also used in smart devices, IoT gadgets, and industrial automation. Materials include fiberglass, glass fabric, and high Tg FR-4, with glass transition temperature crucial for performance. The market encompasses HDI, build-up, microvia, rigid PCBs, and 3D printing.

Communication network infrastructure

The Printed Circuit Board (PCB) market is segmented by end-user applications, including the semiconductor industry, automotive sector, communications, industrial/medical, and telecommunication infrastructure. The semiconductor market's growth is driven by the increasing demand for integrated circuits, resistors, electrolytic capacitors, PLCs, transistors, and composite epoxy materials. In the automotive sector, PCBs are essential for various applications such as battery control systems, engine timing systems, digital displays, audio systems, power relays, antilock brake systems, and smart devices. PCBs are also crucial in IoT gadgets and millennial-driven industries like computer manufacturing and communications. The communications sector's expansion is fueled by the transition from 4G to 5G networks, necessitating faster data connectivity and high-resolution video streaming. PCBs are integral to the functioning of communication network infrastructure equipment, including enterprise network equipment, wireline network equipment, subscriber equipment, and cable/multiservice operator equipment. PCBs come in various forms, such as HDI/build-up/microvia, rigid PCBs, and flexible circuits, made from materials like FR-4 high Tg, glass fabric, and fiberglass. Emerging technologies like 3D printing and industrial automation are also driving the demand for PCBs in diverse industries.

Click here for more information on market segmentation with geographical analysis including forecast (2024-2028) and historical data (2018 - 2022).