Printed Circuit Board Market – Growth Prospects and Trends
According to Triton’s research report, the global printed circuit board market generated $XX million in 2023 and is expected to generate a CAGR of 5.04% in revenue over the forecasting years 2024-2032.
A recent study by Triton Market Research titled Global Printed Circuit Board Market includes the Global Analysis and Forecasts by Application (Industrial Electronics, Automotive, Military, Communications, Consumer Electronics, Other Applications), Substrate (High-Density Interconnect {HDI}, Integrated Circuit {IC}, Rigid Flex, Rigid 1-2 Sided, Standard Multilayer, Flexible Circuits), Raw Material (Phenolic Resin, Epoxy Resin, Glass Fabric, Kraft Paper, Other Raw Materials), and Regional Outlook (North America, Middle East and Africa, Europe, Asia-Pacific, Latin America).
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Printed circuit boards (PCBs) are critical components in almost every electronic device, from consumer electronics and medical devices to industrial machinery and automotive systems. This market is characterized by single-sided, double-sided, and multi-layered boards, with varying levels of application.
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Triton’s report estimated the global printed circuit board market is to progress with a CAGR rate of 5.04% during the forecasting years 2024-2032.
Amidst semiconductor advancements, PCB technology is crucial for industries like renewable energy, consumer electronics, and automotive sectors. With global semiconductor sales reaching $46.4 billion in April 2024, it highlights expanding adoption that drives innovation within PCB. Similarly, the rising utility of IoT devices is driving demand for PCB production, leading to market growth.
However, this market faces challenges from rapidly increasing e-waste, with 62 million tonnes generated in 2022. To combat this, regulatory frameworks are being strengthened by respective authorities and
governments to ensure responsible e-waste disposal and recycling. Aligning with these standards may restrict the expansion of the printed circuit board market.
The Asia-Pacific printed circuit board market is expected to witness the fastest growth during the forecast period. The automotive industry in this region, particularly with the shift towards electric vehicles (EVs), has seen significant growth. EVs require more complex PCBs for battery management, power distribution, and other electronic systems, driving up the demand for advanced PCBs.
The major players in the reviewed market are AT&S (Austria Technologie & Systemtechnik Aktiengesellschaft), OKI Printed Circuits Co Ltd, Samsung Electronics Co Ltd, Unimicron Technology Corporation, Ascent Circuit Pvt Ltd, Daeduck Electronics, Compeq Manufacturing Co Ltd, Epitome Components Ltd, Ibiden Co Ltd, Tripod Technology Corporation, Shennan Circuits Co Ltd, Nippon Mektron Ltd, Hannstar Board Corporation, Nan Ya PCB Corporation, ISU Petasys, TTM Technologies Inc, Zhen Ding Technology Holding Ltd, and Young Poong Electronics Co Ltd.
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Question & Answer: Global Printed Circuit Board Market
Question 1: What factors lead to the growth of the printed circuit board market?
Answer: Amidst semiconductor advancements, PCB technology is crucial for industries like renewable energy, consumer electronics, and automotive sectors. With global semiconductor sales reaching $46.4 billion in April 2024, it highlights expanding adoption that drives innovation within PCB. Similarly, the rising utility of IoT devices is driving demand for PCB production, leading to market growth.
Question 2: What are the factors that restrict the expansion of the printed circuit board market?
Answer: However, this market faces challenges from rapidly increasing e-waste, with 62 million tonnes generated in 2022. To combat this, regulatory frameworks are being strengthened by respective authorities and governments to ensure responsible e-waste disposal and recycling. Aligning with these standards may restrict the expansion of the printed circuit board market.
Question 3: Which region is set to experience the fastest growth in the printed circuit board market?
Answer: The Asia-Pacific printed circuit board market is expected to witness the fastest growth during the forecast period. The automotive industry in this region, particularly with the shift towards electric vehicles (EVs), has seen significant growth. EVs require more complex PCBs for battery management, power distribution, and other electronic systems, driving up the demand for advanced PCBs.
Question 4: Who are the major players in the reviewed market?
Answer: The major players in the reviewed market are AT&S (Austria Technologie & Systemtechnik Aktiengesellschaft), OKI Printed Circuits Co Ltd, Samsung Electronics Co Ltd, Unimicron Technology Corporation, Ascent Circuit Pvt Ltd, Daeduck Electronics, Compeq Manufacturing Co Ltd, Epitome
Components Ltd, Ibiden Co Ltd, Shennan Circuits Co Ltd, Tripod Technology Corporation, Nippon Mektron Ltd, Nan Ya PCB Corporation, Hannstar Board Corporation, ISU Petasys, TTM Technologies Inc, Zhen Ding Technology Holding Ltd, and Young Poong Electronics Co Ltd.
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