Printed Circuit Boards Market Global Trends & Analysis
Electronics have become an integral part of life, with applications ranging from industries, governments, occupations, healthcare trade, manufacturing and particularly recreation. Apart from the most basic electronics, other forms of electric devices require some form of electronic circuit where electrical connections where mechanically combined.
Initial forms of large, clunky and fragile wired circuits have since evolved into printed circuit boards (PCB) which can easily be mass-produced and designed on computers, making electronics affordable and suitable for mass production. The printed circuit boards have played a major role in reducing the cost of electronics since no longer do the circuit boards need to be manually assembled which was a labor-intensive and time-consuming process.
Benefits of PCBs
Printed circuit boards are incredibly versatile and can be designed to be single-sided, double-sided, or even multi-layer and multiple PCBs can be combined to be used in a single piece of equipment since each individual PCB is of a compact size. A single PCB incorporates the use of several electronic components, saving space, wire, expense, and manufacturing time. Since the electrical components are fixed directly to the circuit board, movement is restricted, reducing the risk of damage. Clearly labeled and designed PCBs make setup as well as repair fast and simple.
PCB Market Insights
- Market Size
The global Printed Circuit Board Assembly (PCBA) and PCB market are projected to reach a valuation of $77.73 billion by 2020, growing at a steady compound annual growth rate (CAGR) of 3-4 percent. The growth of the market is primarily driven by the increase in demand from the automotive and electronics industries in the APAC region which accounts for more than 90 percent of the total global PCB production.
- Global Market
High market maturity regions are North America and APAC while medium and low market maturity regions are Europe, South America, and Africa. There is a steady growth in demand from end-use sectors in China, South Korea, Japan and Taiwan, countries which are also gaining popularity as low-cost manufacturing centers for PCBs. top suppliers at a global level are Nippon Mektron, ZD Tech, TTM Technologies, Unimicron, Sumitomo Denko.
- End-User Applications
Currently, the key end-user applications for PCBs are business and computers, accounting for 30 percent of the market, followed by communications and telecom for 28 percent and consumer electronics for 20 percent. Factors that are driving the growth of the market are widespread digitization and innovation in PCB designs. The cost of printed circuit boards is based 20-30 percent on the cost of raw materials, 60-70 percent on the costs of labor and utilities.
PCB Market Latest Evolving Trends
- The world overall is becoming more environmentally conscious, and the efforts are expanding into the field of printed circuit boards as well. Environmental regulations set up by governments of different countries are expected to drive the growth of recycling PCBs. Since electronics are being produced and used on a large scale, there is undoubtedly a massive amount of PCBs that are going waste, as they are replaced by newer technologies. Recycling PCBs is a complicated process because of the presence of multiple forms of materials.
The copper used in PCBs can be separated and reused with enough quality to be used as a conductive material. However, the fiberglass and resins that connect the PCB segments significantly degrade in quality when recycled, and can only be reused in low-tech applications.
- Automobiles traditionally have not had much use of computer technology and other forms of complex electronics, but all that has been changing in recent years with the emergence of self-driving cars, autopilot modes, GPS, service alerts, safety sensors, advanced music systems and more. The automotive sector is emerging as a major end-user segment for printed circuit boards as vehicles become more sophisticated in terms of incorporating computerized systems. As the technology used in automotive evolves, there is a greater need for advanced printed circuit boards.
The electronics used in automotive vary greatly, depending on the function and accordingly there are many types of PCBs used, ranging from flex PCBs to rigid PCBs and combination PCBs. In addition, it is important that the PCBs used for automotive are strong, capable of handling tough use and can support long life-cycles. The materials used in manufacturing the PCBs must be able to handle high temperatures and allow heat to dissipate quickly.
- Printed circuit boards support the development of advanced technology, which in turn also develops the technology used for making printed circuit boards. The growth of the 3D printing market also offers immense potential for PCBs, facilitating the printing of electronic circuits in a more customizable manner with different materials.
New designing PCB methods have made it easier to outline more complicated patterns with wider functionalities, while at the same time reducing costs. HDI technology further enables creating denser PCB designs on smaller components which can then be placed closer to one another, reducing distance and space required.
The PCB market is growing at a rapid pace, driven by the demand for electronics and digitalization, with immense potential for further growth. Prominent trends involve sustainability, technology advancements and wider applications of PCBs across industries.