DALLAS, June 21, 2019 (GLOBE NEWSWIRE) — According to a new market report published by Lucintel, the future of the PCB market looks promising. By 2024, experts predict that the global PCB market will have reached an estimated value of $89.7 billion, exhibiting a compound annual growth rate (CAGR) of 4.1% from 2019 to 2024.
In recent years, miniaturization of equipment is occurring. The technology is shrinking to increase efficiency and reduce the space occupied by different components. As the demand for technology continues to increase.
The PCB market will grow, and the technology world relies on them to connect multiple complex components. PCB is an indispensable component in electronics manufacturing, and the demand for smart devices is increasing, which means that the demand of the PCB industry will also continue to increase.
The major growth drivers for this market are increasing demand for PCB in the communication industry, growth in the computer/peripherals, communications, consumer electronics, industrial, medical ,advancement in automotive electronics.
Wearable Device Need More PCB
Wearables are a growing area of technology, namely smart watches and wireless headphones. These devices can bring many benefits to consumers-useful for staying healthy, traveling and making life easier.
The creation of high-quality wireless headphones relies on the supply of high-quality printed circuit boards. The same is true of smart watches: as they become more complex, they require more unique electronic components and therefore more PCBs.
Smart Phone Need More PCB
Although smartphones are not new in the market, they still require increasingly sophisticated mobile devices. As phone manufacturers continue to innovate, they rely on providing more components and PCBs.
As 5G mobile phones gradually enter the market, the smartphone market landscape will change. The arrival of 5G will completely overturn the network performance of previous mobile phones in the 4G era, which requires mobile phone hardware updates.
The PCB requirements of communication equipment are mainly high-frequency PCB boards, Rigid-Flex circuit boards, and multilayer PCB boards.
Intelligent Technology Need More PCB
In addition to phones, watches and wireless headsets, the need for smart technology is also widespread. From virtual voice-activated assistants to smart thermostats, the public is increasingly relying on smart devices. This means that in terms of PCB market trends, manufacturers will need to find reliable printed circuit board and assembly suppliers.
Medical Field Need More PCB
Printed circuit boards (PCBs) have become critical in the medical field. As technology advances, more and more medical diagnoses, research and treatment methods have been computerized. This is why PCBs for medical devices have become a standard requirement throughout the industry.
Polychlorinated biphenyls can be used in various medical fields. From defibrillators, pacemakers, and cardiac monitors (such as cardiovascular medical normative PCBs) to medical imaging systems, CT scans, MRI, ultrasound equipment, and more.
PCBs can also find applications in medical devices such as temperature monitors, blood glucose monitors, and electrical muscle stimulation devices. PCBs for medical devices are everywhere.
Automotive Field Need More PCB
With the continuous advancement of the automotive industry, automobiles have evolved from complete mechanical devices in the past to a combination of machinery and electronics. The use of electronic technology in automobiles has continued to increase, which has increased the comfort, safety and entertainment of automobiles.
Meet people’s diverse needs. The automobile has changed from a simple means of transportation in the past to a comprehensive platform with various functions such as transportation, entertainment, and office.
The proportion of automotive electronics in the manufacturing cost of the vehicle has continued to increase, and the market size of automotive electronics has also continued to expand.
As the backbone of electronic products, PCB manufacturing has become increasingly important in the automotive supply chain. Compared with traditional fuel vehicles, new energy vehicles will add a lot of new application scenarios to the charging, energy storage, power distribution and voltage conversion equipment.
The complex and changeable use environment that automotive products need to face also makes automotive PCBs have far higher performance and reliability requirements than PCB products used in general consumer electronics. From 2016 to 2022, the annual growth rate of automotive FPC has been maintained at 6% -9% for a long time.
Based on comprehensive research, Lucintel predicts that standard multi-layer PCB boards will remain the largest substrate type due to growing demand in the computer and communications industries.
According to Prismark’s prediction, with the development and change of application scenarios in the future, FPC, HDI, and multilayer circuit boards will benefit from the 5G era, smartphone upgrades, the rise of the Internet of Things, and the increase in automotive electronics complexity.
In the CAGR of PCB products from 2016 to 2021, HDI boards, flexible boards and multilayer boards will perform well, respectively 2.8%, 3.0%, and 2.4%.
Flexible PCB Board Continue Grow
With the continuous iteration of consumer electronics products and the continuous transformation of products to small, thin, and multifunctional, FPC will benefit from innovation in the downstream field and usher in new development. Mobile phones, tablets, and computers are the main application areas of FPC, accounting for over 60% of the total. Among them, mobile phones have the highest proportion, accounting for about 30% of the FPC market.
In 2018, the global PCB output value reached US $ 63.5 billion and the FPC output value reached US $ 12.7 billion. It has become the fastest-growing sub-industry in the PCB industry. The market demand for FPC will maintain a certain growth rate in the future.
From 2016 to 2022, the annual growth rate of automotive FPC will be maintained at 6% -9% for a long time.
By 2022, the market size of automotive FPC will increase to 7 billion yuan.
Pharmaceutical industry professionals will also often select flex or rigid-flex PCBs for their critical medical devices.
Medical devices have unique PCB shape and size requirements.
Professionals need to ensure that PCBs fit into a small area while being damage-resistant.
- Flexible PCB sales have been boosted by growth in the healthcare sector.
- The healthcare sector is experiencing substantial growth in many countries.
What does this mean for PCB manufacturers and suppliers?
The PCB market is seeing high demand this year.
Electronics manufacturers rely on PCBs for production.
Multilayer PCBs will continue to dominate the market.
They provide essential support for PCB industry growth.
High-tech PCBs such as flexible PCBs, HDI PCBs, and packaging substrates are increasing in proportion.
These advanced PCBs will become the market mainstream in the coming period of time.
The global PCB industry is advancing towards higher precision.
It is also moving towards higher density and reliability.
The industry is focused on improving performance and productivity.
It aims to develop specialized and scaled operations.
Green production is a key priority for the industry.
These developments are driven by the downstream electronic equipment industries.
Enterprises with core competitiveness have an advantage in the market.
Advanced process technology capabilities also contribute to success.
Companies with superior customer resources can leverage them for growth.
Higher technological content and added value present challenges.
However, mastering these challenges can lead to significant output growth.
