Printed Circuit Board Market Analysis and Forecast to 2032: By Substrate (Rigid, Flexible, Rigid Flex), Application (Consumer Electronics, Communication, Industrial Electronics, Computers, Defense & Aerospace, Automotive, Medical), Type (Single-Sided, Double-Sided, Multi-Layer, HDI), and Region
A printed circuit board, or PCB, is a self-contained module of interconnected electronic components found in devices ranging from common beepers, or pagers, and radios to sophisticated radar and computer systems. The circuits are formed by a thin layer of conducting material deposited, or “printed,” on the surface of an insulating board known as the substrate.
Interconnections between the components are made by etching away selected areas of the copper layer to expose the underlying substrate material. The substrate is usually made of glass-reinforced epoxy resin, which is also known as FR-4. The copper is etched using a photoengraving process in which a photographic mask is used to selectively expose the copper to light. The exposed areas are then etched away, leaving the desired circuit pattern. The circuit board is then coated with a thin layer of solder, which is a metal with a low melting point. This solder coating makes it possible to attach the components to the board without the use of solder joints.
The completed circuit board is then mounted in a housing or enclosure that provides mechanical support and protection from the environment.
The Printed Circuit Board Market size was USD 60.2 Billion in 2022 and is anticipated to reach USD 99.6 Billion in 2032, growing at a rate of 5.2% from 2023 to 2032.
Key Trends
PCBs are made up of a substrate, usually made of glass-reinforced epoxy, with a thin layer of copper foil laminated to one or both sides. The tracks are created by etching the copper foil to create the desired pattern. The tracks are then coated with a solder mask to prevent short circuits and to protect the tracks from corrosion.
The trend in PCB technology is towards smaller and more complex designs. This is driven by the need for ever-smaller electronic devices. The challenge for PCB manufacturers is to create designs that are both small and reliable.
Another trend is towards using alternative materials for the substrate. This is driven by the need for lighter and more flexible PCBs, for example in wearable electronics. Polyimide and polyester are two materials that are being used more and more in PCB manufacturing.
The final trend is towards using more environmentally-friendly materials and processes. This is driven by the need to reduce the environmental impact of electronic waste. The use of lead-free solder, for example, is becoming more widespread.
Key Drivers
Some of the key drivers of the printed circuit boards market are the increasing demand for miniaturization of electronic devices, the need for high reliability and durability, and the growing demand for flexible and lightweight printed circuit boards. The miniaturization of electronic devices has led to an increase in the demand for printed circuit boards. This is because printed circuit boards offer a high degree of flexibility and allow for a wide range of designs. Additionally, printed circuit boards are more durable than other types of circuit boards and can withstand harsh environments. The growing demand for flexible and lightweight printed circuit boards is also driving the market. This is because these boards offer a number of advantages over traditional rigid boards, such as improved flexibility, light weight, and the ability to be rolled up or folded.
Challenges and Restraints
The printed circuit board (PCB) industry is facing a number of challenges that are impacting the market. These challenges include:
- The declining use of traditional printed circuit boards: The use of traditional printed circuit boards (PCBs) is declining as the electronics industry is moving towards more miniaturization and surface-mount technologies. This is a challenge for the PCB industry as it is losing its traditional customer base.
- The rise of alternative technologies: There are a number of alternative technologies that are challenging the PCB industry. These include 3D printing, flexible printed circuits, and organic printed circuits. These technologies are often cheaper and more flexible than traditional PCBs, making them a viable option for many electronics manufacturers.
- The challenges of miniaturization: The trend towards miniaturization is making it increasingly challenging to manufacture PCBs. This is because the smaller the PCB, the more difficult it is to work with and the more likely it is to fail. This is a challenge for the PCB industry as it needs to find ways to manufacture smaller and more complex PCBs.
Market Segments
The Printed Circuit Board Market has been segmented into Substrate, Application, Type, and Region. Based on the Substrate, the Printed Circuit Board market is segmented into Rigid, Flexible, and Rigid Flex. Based on Application, the market is segmented into Consumer Electronics, Communication, Industrial Electronics, Computers, Military & Aerospace, Automotive, and Medical Instrumentation. Based on Type, the market is segmented into Single-Sided, Double-Sided, Multi-Layer, and HDI. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
Some major key players of Printed Circuit Board Market are Advanced Circuits (US), Cirtech (South Africa), Epec (US), Interconnect Systems (US), J–TEC US), Merix (India), TTM Technologies (US), Sanmina (US), Jabil (US), and Plexus Corp (US).
Printed Circuit Board Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current Printed Circuit Board Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- The report also covers qualitative as well as quantitative analysis of Printed Circuit Board Market in terms of revenue ($Million).
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the Printed Circuit Board Industry.
- A thorough analysis of market trends and restraints is provided.
- By region as well as country market analysis is also presented in this report.
- Analytical depiction of the Printed Circuit Board Market along with the current trends and future estimations to depict imminent investment pockets. The overall Printed Circuit Board industry opportunity is examined by understanding profitable trends to gain a stronger foothold.
- Porter’s five forces analysis, SWOT analysis, Pricing Analysis, Case Studies, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Printed Circuit Board Market are also analyzed.
Table of Contents
Chapter 1. Printed Circuit Board Market Overview
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Limitations
1.4. Research Methodologies
1.4.1. Secondary Research
1.4.2. Market Size Estimation Technique
1.4.3. Forecasting
1.4.4. Primary Research and Data Validation
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Premium Insights on the Market
3.1. Market Attractiveness Analysis, by Region
3.2. Market Attractiveness Analysis, by Type
3.3. Market Attractiveness Analysis, by Application
3.4. Market Attractiveness Analysis, by Substrate
Chapter 4. Printed Circuit Board Market Outlook
4.1. Printed Circuit Board Market Segmentation
4.2. Market Dynamics
4.2.1. Market Drivers
4.2.1.1. Driver 1
4.2.1.2. Driver 2
4.2.1.3. Driver 3
4.2.2. Market Restraints
4.2.2.1. Restraint 1
4.2.2.2. Restraint 2
4.2.3. Market Opportunities
4.2.3.1. Opportunity 1
4.2.3.2. Opportunity 2
4.3. Porter’s Five Forces Analysis
4.3.1. Threat of New Entrants
4.3.2. Threat of Substitutes
4.3.3. Bargaining Power of Buyers
4.3.4. Bargaining Power of Supplier
4.3.5. Competitive Rivalry
4.4. PESTLE Analysis
4.5. Value Chain Analysis
4.6. Impact of COVID-19 on the Printed Circuit Board Market
4.7. Impact of the Russia and Ukraine War on the Printed Circuit Board Market
4.8. Case Study Analysis
4.9. Pricing Analysis
Chapter 5. Printed Circuit Board Market, by Type
5.1. Market Overview
5.2. Single-Sided
5.2.1. Key Market Trends & Opportunity Analysis
5.2.2. Market Size and Forecast, by Region
5.3. Double-Sided
5.3.1. Key Market Trends & Opportunity Analysis
5.3.2. Market Size and Forecast, by Region
5.4. Multi-Layered
5.4.1. Key Market Trends & Opportunity Analysis
5.4.2. Market Size and Forecast, by Region
5.5. HDI
5.5.1. Key Market Trends & Opportunity Analysis
5.5.2. Market Size and Forecast, by Region
Chapter 6. Printed Circuit Board Market, by Application
6.1. Market Overview
6.2. Consumer Electronics
6.2.1. Key Market Trends & Opportunity Analysis
6.2.2. Market Size and Forecast, by Region
6.3. Communication
6.3.1. Key Market Trends & Opportunity Analysis
6.3.2. Market Size and Forecast, by Region
6.4. Industrial Electronic
6.4.1. Key Market Trends & Opportunity Analysis
6.4.2. Market Size and Forecast, by Region
6.5. Computers
6.5.1. Key Market Trends & Opportunity Analysis
6.5.2. Market Size and Forecast, by Region
6.6. Military and Aerospace
6.6.1. Key Market Trends & Opportunity Analysis
6.6.2. Market Size and Forecast, by Region
6.7. Automotive
6.7.1. Key Market Trends & Opportunity Analysis
6.7.2. Market Size and Forecast, by Region
6.8. Medical Instrumentation
6.8.1. Key Market Trends & Opportunity Analysis
6.8.2. Market Size and Forecast, by Region
Chapter 7. Printed Circuit Board Market, by Substrate
7.1. Market Overview
7.2. Rigid
7.2.1. Key Market Trends & Opportunity Analysis
7.2.2. Market Size and Forecast, by Region
7.3. Flexible
7.3.1. Key Market Trends & Opportunity Analysis
7.3.2. Market Size and Forecast, by Region
7.4. Rigid Flex
7.4.1. Key Market Trends & Opportunity Analysis
7.4.2. Market Size and Forecast, by Region
Chapter 8. Printed Circuit Board Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends and Opportunities
8.2.2. North America Printed Circuit Board Market Size and Forecast, by Type
8.2.3. North America Printed Circuit Board Market Size and Forecast, by Substrate
8.2.4. North America Printed Circuit Board Market Size and Forecast, by Application
8.2.5. North America Printed Circuit Board Market Size and Forecast, by Country
8.2.6. The U.S.
8.2.6.1. The U.S. Printed Circuit Board Market Size and Forecast, by Type
8.2.6.2. The U.S. Printed Circuit Board Market Size and Forecast, by Substrate
8.2.6.3. The U.S. Printed Circuit Board Market Size and Forecast, by Application
8.2.7. Canada
8.2.7.1. Canada Printed Circuit Board Market Size and Forecast, by Type
8.2.7.2. Canada Printed Circuit Board Market Size and Forecast, by Substrate
8.2.7.3. Canada Printed Circuit Board Market Size and Forecast, by Application
8.2.8. Mexico
8.2.8.1. Mexico Printed Circuit Board Market Size and Forecast, by Type
8.2.8.2. Mexico Printed Circuit Board Market Size and Forecast, by Substrate
8.2.8.3. Mexico Printed Circuit Board Market Size and Forecast, by Application
8.3. Europe
8.3.1. Key Market Trends and Opportunities
8.3.2. Europe Printed Circuit Board Market Size and Forecast, by Type
8.3.3. Europe Printed Circuit Board Market Size and Forecast, by Substrate
8.3.4. Europe Printed Circuit Board Market Size and Forecast, by Application
8.3.5. Europe Printed Circuit Board Market Size and Forecast, by Country
8.3.6. The UK
8.3.6.1. The UK Printed Circuit Board Market Size and Forecast, by Type
8.3.6.2. The UK Printed Circuit Board Market Size and Forecast, by Substrate
8.3.6.3. The UK Printed Circuit Board Market Size and Forecast, by Application
8.3.7. Germany
8.3.7.1. Germany Printed Circuit Board Market Size and Forecast, by Type
8.3.7.2. Germany Printed Circuit Board Market Size and Forecast, by Substrate
8.3.7.3. Germany Printed Circuit Board Market Size and Forecast, by Application
8.3.8. France
8.3.8.1. France Printed Circuit Board Market Size and Forecast, by Type
8.3.8.2. France Printed Circuit Board Market Size and Forecast, by Substrate
8.3.8.3. France Printed Circuit Board Market Size and Forecast, by Application
8.3.9. Spain
8.3.9.1. Spain Printed Circuit Board Market Size and Forecast, by Type
8.3.9.2. Spain Printed Circuit Board Market Size and Forecast, by Substrate
8.3.9.3. Spain Printed Circuit Board Market Size and Forecast, by Application
8.3.10. Italy
8.3.10.1. Italy Printed Circuit Board Market Size and Forecast, by Type
8.3.10.2. Italy Printed Circuit Board Market Size and Forecast, by Substrate
8.3.10.3. Italy Printed Circuit Board Market Size and Forecast, by Application
8.3.11. Netherlands
8.3.11.1. Netherlands Printed Circuit Board Market Size and Forecast, by Type
8.3.11.2. Netherlands Printed Circuit Board Market Size and Forecast, by Substrate
8.3.11.3. Netherlands Printed Circuit Board Market Size and Forecast, by Application
8.3.12. Sweden
8.3.12.1. Sweden Printed Circuit Board Market Size and Forecast, by Type
8.3.12.2. Sweden Printed Circuit Board Market Size and Forecast, by Substrate
8.3.12.3. Sweden Printed Circuit Board Market Size and Forecast, by Application
8.3.13. Switzerland
8.3.13.1. Switzerland Printed Circuit Board Market Size and Forecast, by Type
8.3.13.2. Switzerland Printed Circuit Board Market Size and Forecast, by Substrate
8.3.13.3. Switzerland Printed Circuit Board Market Size and Forecast, by Application
8.3.14. Denmark
8.3.14.1. Denmark Printed Circuit Board Market Size and Forecast, by Type
8.3.14.2. Denmark Printed Circuit Board Market Size and Forecast, by Substrate
8.3.14.3. Denmark Printed Circuit Board Market Size and Forecast, by Application
8.3.15. Finland
8.3.15.1. Finland Printed Circuit Board Market Size and Forecast, by Type
8.3.15.2. Finland Printed Circuit Board Market Size and Forecast, by Substrate
8.3.15.3. Finland Printed Circuit Board Market Size and Forecast, by Application
8.3.16. Russia
8.3.16.1. Russia Printed Circuit Board Market Size and Forecast, by Type
8.3.16.2. Russia Printed Circuit Board Market Size and Forecast, by Substrate
8.3.16.3. Russia Printed Circuit Board Market Size and Forecast, by Application
8.3.17. Rest of Europe
8.3.17.1. Rest of Europe Printed Circuit Board Market Size and Forecast, by Type
8.3.17.2. Rest of Europe Printed Circuit Board Market Size and Forecast, by Substrate
8.3.17.3. Rest of Europe Printed Circuit Board Market Size and Forecast, by Application
8.4. Asia-Pacific
8.4.1. Key Market Trends and Opportunities
8.4.2. Asia-Pacific Printed Circuit Board Market Size and Forecast, by Country
8.4.3. Asia-Pacific Printed Circuit Board Market Size and Forecast, by Type
8.4.4. Asia-Pacific Printed Circuit Board Market Size and Forecast, by Substrate
8.4.5. Asia-Pacific Printed Circuit Board Market Size and Forecast, by Application
8.4.6. China
8.4.6.1. China Printed Circuit Board Market Size and Forecast, by Type
8.4.6.2. China Printed Circuit Board Market Size and Forecast, by Substrate
8.4.6.3. China Printed Circuit Board Market Size and Forecast, by Application
8.4.7. India
8.4.7.1. India Printed Circuit Board Market Size and Forecast, by Type
8.4.7.2. India Printed Circuit Board Market Size and Forecast, by Substrate
8.4.7.3. India Printed Circuit Board Market Size and Forecast, by Application
8.4.8. Japan
8.4.8.1. Japan Printed Circuit Board Market Size and Forecast, by Type
8.4.8.2. Japan Printed Circuit Board Market Size and Forecast, by Substrate
8.4.8.3. Japan Printed Circuit Board Market Size and Forecast, by Application
8.4.9. South Korea
8.4.9.1. South Korea Printed Circuit Board Market Size and Forecast, by Type
8.4.9.2. South Korea Printed Circuit Board Market Size and Forecast, by Substrate
8.4.9.3. South Korea Printed Circuit Board Market Size and Forecast, by Application
8.4.10. Australia
8.4.10.1. Australia Printed Circuit Board Market Size and Forecast, by Type
8.4.10.2. Australia Printed Circuit Board Market Size and Forecast, by Substrate
8.4.10.3. Australia Printed Circuit Board Market Size and Forecast, by Application
8.4.11. Singapore
8.4.11.1. Singapore Printed Circuit Board Market Size and Forecast, by Type
8.4.11.2. Singapore Printed Circuit Board Market Size and Forecast, by Substrate
8.4.11.3. Singapore Printed Circuit Board Market Size and Forecast, by Application
8.4.12. Indonesia
8.4.12.1. Indonesia Printed Circuit Board Market Size and Forecast, by Type
8.4.12.2. Indonesia Printed Circuit Board Market Size and Forecast, by Substrate
8.4.12.3. Indonesia Printed Circuit Board Market Size and Forecast, by Application
8.4.13. Taiwan
8.4.13.1. Taiwan Printed Circuit Board Market Size and Forecast, by Type
8.4.13.2. Taiwan Printed Circuit Board Market Size and Forecast, by Substrate
8.4.13.3. Taiwan Printed Circuit Board Market Size and Forecast, by Application
8.4.14. Malaysia
8.4.14.1. Malaysia Printed Circuit Board Market Size and Forecast, by Type
8.4.14.2. Malaysia Printed Circuit Board Market Size and Forecast, by Substrate
8.4.14.3. Malaysia Printed Circuit Board Market Size and Forecast, by Application
8.4.15. Rest of APAC
8.4.15.1. Rest of APAC Printed Circuit Board Market Size and Forecast, by Type
8.4.15.2. Rest of APAC Printed Circuit Board Market Size and Forecast, by Substrate
8.4.15.3. Rest of APAC Printed Circuit Board Market Size and Forecast, by Application
8.5. Rest of The World
8.5.1. Key Market Trends and Opportunities
8.5.2. Rest of The World Printed Circuit Board Market Size and Forecast, by Type
8.5.3. Rest of The World Printed Circuit Board Market Size and Forecast, by Substrate
8.5.4. Rest of The World Printed Circuit Board Market Size and Forecast, by Application
8.5.5. Rest of The World Printed Circuit Board Market Size and Forecast, by Country
8.5.6. Latin America
8.5.6.1. Latin America Printed Circuit Board Market Size and Forecast, by Type
8.5.6.2. Latin America Printed Circuit Board Market Size and Forecast, by Substrate
8.5.6.3. Latin America Printed Circuit Board Market Size and Forecast, by Application
8.5.7. Middle East
8.5.7.1. Middle East Printed Circuit Board Market Size and Forecast, by Type
8.5.7.2. Middle East Printed Circuit Board Market Size and Forecast, by Substrate
8.5.7.3. Middle East Printed Circuit Board Market Size and Forecast, by Application
8.5.8. Africa
8.5.8.1. Africa Printed Circuit Board Market Size and Forecast, by Type
8.5.8.2. Africa Printed Circuit Board Market Size and Forecast, by Substrate
8.5.8.3. Africa Printed Circuit Board Market Size and Forecast, by Application
Chapter 9. Competitive Landscape
9.1. Overview
9.2. Market Share Analysis/Key Player Positioning
9.3. Vendor Benchmarking
9.4. Developmental Strategy Benchmarking
9.4.1. New Product Developments
9.4.2. Product Launches
9.4.3. Business Expansions
9.4.4. Partnerships, Joint Ventures, and Collaborations
9.4.5. Mergers and Acquisitions
Chapter 10. Company Profiles
10.1. Advanced Circuits (US)
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product offerings
10.1.4. Key Strategic Initiatives
10.1.5. Swot Analysis
10.2. Cirtech (South Africa)
10.2.1. Company Snapshot
10.2.2. Financial Performance
10.2.3. Product offerings
10.2.4. Key Strategic Initiatives
10.2.5. Swot Analysis
10.3. Plexus Crop (US)
10.3.1. Company Snapshot
10.3.2. Financial Performance
10.3.3. Product offerings
10.3.4. Key Strategic Initiatives
10.3.5. Swot Analysis
10.4. Epec (US)
10.4.1. Company Snapshot
10.4.2. Financial Performance
10.4.3. Product offerings
10.4.4. Key Strategic Initiatives
10.4.5. Swot Analysis
10.5. Interconnect Systems (US)
10.5.1. Company Snapshot
10.5.2. Financial Performance
10.5.3. Product offerings
10.5.4. Key Strategic Initiatives
10.5.5. Swot Analysis
10.6. J-TEC (US)
10.6.1. Company Snapshot
10.6.2. Financial Performance
10.6.3. Product offerings
10.6.4. Key Strategic Initiatives
10.6.5. Swot Analysis
10.7. Merix (India)
10.7.1. Company Snapshot
10.7.2. Financial Performance
10.7.3. Product offerings
10.7.4. Key Strategic Initiatives
10.7.5. Swot Analysis
10.8. TTM Technologies (US)
10.8.1. Company Snapshot
10.8.2. Financial Performance
10.8.3. Product offerings
10.8.4. Key Strategic Initiatives
10.8.5. Swot Analysis
10.9. Sanmina (US)
10.9.1. Company Snapshot
10.9.2. Financial Performance
10.9.3. Product offerings
10.9.4. Key Strategic Initiatives
10.9.5. Swot Analysis
10.10. Jabil (US)
10.10.1. Company Snapshot
10.10.2. Financial Performance
10.10.3. Product offerings
10.10.4. Key Strategic Initiatives
10.10.5. Swot Analysis
*The List of Company Is Subject To Change During the Final Compilation of the Report
Key Players
- Advanced Circuits (US)
- Cirtech (South Africa)
- Epec (US)
- Interconnect Systems (US)
- J–TEC US)
- Merix (India)
- TTM Technologies (US)
- Sanmina (US)
- Jabil (Florida)
- Plexus Corp (US)
Market Segments
By Substrate
- Rigid
- Flexible
- Rigid Flex
By Application
- Consumer Electronics
- Communication
- Industrial Electronics
- Computers
- Military & Aerospace
- Automotive
- Medical Instrumentation
By Type
- Single-Sided
- Double-Sided
- Multi-Layer
- HDI
By Region
- North America
-
- The U.S.
- Canada
- Mexico
- Europe
-
- The U.K.
- Germany
- France
- Spain
- Italy
- Netherlands
- Sweden
- Switzerland
- Denmark
- Finland
- Russia
- Rest of Europe
- The Asia-Pacific
-
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Indonesia
- Taiwan
- Malaysia
- Rest of Asia-Pacific
- Rest of the World
-
- Latin America
- The Middle East
- Africa