Global PCB Manufacturing Industry: Estimated Growth in 2024

Monday, February 5, 2024 - 08:13

Trends

Global PCB Manufacturing Industry: Estimated Growth in 2024

The global printed circuit board (PCB) manufacturing industry, after a decline in 2023 due to supply and demand imbalances during the COVID-19 pandemic, is poised for a revival in 2024. The Taiwan Printed Circuit Association published an estimated growth of 6.3% in January 2024, supported by the Industrial Technology Research Institute (ITRI). Following last year's 15.6% decline, amounting to a loss of USD 73.9 billion, hopes are high for a stronger and more stable development in the industry.

Regional Variability

In the regions of China, Japan, Taiwan, and Korea, PCB producers for automakers were able to limit the decline to just 9%. Conversely, Korea, with a high share of memory application production, experienced a decline of over 20%. Regional differences reflect the dynamics of the industry and its ability to adapt to changing global conditions.

Projected Growth in 2024

With the setbacks in 2023, the industry expects stronger growth in 2024. Replenishing stocks in countries with a strong base of electronic manufacturers and increasing demand for specialized PCB varieties play a key role. Consumer demand will take time to recover, but the global PCB industry is expected to grow by 6.3% to USD 78.2 billion.

The Printed Circuit Board Association emphasizes that once the consumer market aligns its growth with the global economy, the PCB sector can sustain long-term growth of 4-5%.

Flexible Printed Circuit Boards: Growth and Innovation by 2031

According to a study by Transparency Market Research, total sales revenue from flexible printed circuit boards is expected to reach USD 37.9 billion by the end of 2031. The research report predicts an overall market growth of 12.5% for Flexi boards by the end of 2031.

Challenges and Opportunities in the Near Future

In the field of Flexi PCB manufacturing, there is an increasing emphasis on environmentally friendly materials and manufacturing processes in line with sustainability needs. The rapid expansion of industrial automation is driving demand for durable Flexi boards for smart sensors, control systems, and robotics. Initiatives in satellite and space exploration support the need for robust and reliable boards for aerospace applications, leading to innovations in space-quality electronic solutions.

Competitive Landscape

Investments in research and development, technological advancements, and strategic industry collaborations shape the competitive landscape. Key players such as Nippon Mektron, Flex Ltd., and Career Technology are investing in innovative PCB solutions and flexible constructions. Asian competitors, including Zhen Ding Technology and Sumitomo Electric Industries, focus on innovation and flexibility in PCB design.

With increasing pressure on the supply chain to reduce carbon dioxide emissions and government policies supporting carbon-neutral electronic products, the industry faces challenges in adaptation and innovation.

Potential Development of Innovative Paths

With the development in Southeast Asia, where PCB manufacturers are investing in new ventures in Thailand, Vietnam, and Malaysia, the dynamics of the global industry are changing. The United States is becoming a market leader due to technological progress and innovations. Europe will have a strong Flexi board industry, especially in Germany and the United Kingdom. Asia and the Pacific will lead the economy with the participation of Japan, China, and South Korea.

Conclusion: Industry Transformation and Future Challenges

In summary, the global PCB manufacturing industry faces challenges and opportunities in 2024. After the decline in 2023, the industry will experience a revival shaped by pressure to reduce carbon dioxide emissions and generational innovations in products. Government policies, technological embargoes, and the acceleration of supply chain globalization will influence and shape the direction of the industry.

The PCB manufacturing industry is undergoing transformation in response to global events and technological trends. With a constant focus on sustainability and efficiency, the printed circuit board industry will grow in the production of Flexi and Rigid-Flex boards, becoming not only a key player in the electronic sector but also a driver of technological progress and economic growth.

Sources:

Global PCB industry to grow by 6.3% in 2024 (evertiq.com)

Flexible Printed Circuit Board Market Size & Share Analysis 2031 (transparencymarketresearch.com)

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Michaela Krňáková

marketing Gatema PCB

marketing@gatema.cz

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