Global Printed Circuit Board Market to expand to 29.06 billion USD by 2028: Technavio
27 May 2024: As per recent report by Technavio, Global Printed Circuit Board (PCB) market is projected to expand by about 29.06 billion USD from 2024 to 2028, This growth is primarily driven by the rapidly increasing adoption of smartphones worldwide. PCB market is expected to grow at a Compound Annual Growth Rate (CAGR) of over 6.6% during the forecast period. The report provides insights on the forecast market size and the historical data from 2018 to 2022.
PCB market is segmented by end-user applications, including communication network infrastructure, IT and peripherals, Automotive, Consumer electronics, and many others. It is also segmented by type, including multi-layer, HDI, single-sided and double-sided PCBs. The geographical coverage includes APAC, North America, South America, Europe, Middle East and Africa.
PCBs are crucial components in various industries, enhancing the automation and efficiency. They contribute to reduced operation costs and improved product quality by ensuring optimum power consumption in high-density applications. However, the development of eco-friendly and sustainable PCB solutions is highly necessary due to the concerns regarding the electronic waste and the presence of hazardous components like lead, mercury, cadmium and brominated flame retardants in PCB solutions.
Printed Circuit Boards (PCBs) are absolutely necessary components in various industries, including semiconductors, automotive, communications, industrial/medical, and the telecommunication infrastructure. Being made with a combination of metal, plastic, ceramic, copper and epoxy resins, PCBs contain hazardous components that pose environmental risks due to their non-disposability. Recycling the PCBs brings in a whole new bunch of 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 that is crucial for its performance. The market encompasses HDI, build-up, microvia, rigid PCBs and 3D printing.
PCB market involves the designing, manufacturing and integration of advanced electronic components across various industries. Key technologies that are driving the growth include 5G, Internet of Things (IoT), Internet of Vehicles (IoV), Artificial Intelligence (AI) and especially Consumer Electronics. PCBs come in various types, including single-sided, double-sided, multi-layer and flexible boards, catering to immensely diverse applications. Market is also influenced by factors such as miniaturization, increasing complexity and shifting towards RoHS compliance. Future of PCBs looks extremely promising with huge advancements in technologies like HDI, Microvia, and 3D stacking.
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