The Printed Circuit Board by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Printed Circuit Board, The printed circuit board market size has grown strongly in recent years. It will grow from $63.62 billion in 2023 to $66.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to growing demand for electric vehicles, increased demand from healthcare, strong economic growth in emerging markets and increased demand for industrial robots in the manufacturing sector.
The printed circuit board market size is expected to see strong growth in the next few years. It will grow to $83.48 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing demand for eco-friendly pcb’s, increasing investments in 5g technology and telecom infrastructure, increasing growth in iot devices and increasing digitalization. Major trends in the forecast period include developing board-in-board connectors for higher efficiency and better connectivity, adopting innovative software tools for printed circuit boards, leveraging artificial intelligence for improved product quality, focusing on 3d printing for compact designs and material optimization, focusing on the development of sustainable pcbs and focusing on partnerships and collaborations to expand product portfolio and geographic presence.
The increasing electric vehicle sales are expected to propel the growth of the printed circuit board market in the forecast period. Electric vehicles (EVs) are those that are powered entirely or partially by electricity. Printed circuit boards (PCBs) are used to connect electrical components in electric vehicles, such as simple audio and display systems. PCBs are also used in the production of charging stations, which allow electric vehicle users to charge their vehicles. For instance, according to Bloomberg New Energy Finance (BNEF), a UK-based company that provides analysis, statistics, and news on the energy sector’s transition, EVs is predicted to account for 10% of worldwide passenger car sales by 2025, growing to 28% in 2030 and 58% in 2040.
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The printed circuit board market covered in this report is segmented –
1) By Type: Single Sided, Double Sided, Multi-Layer, High Density Interconnect (HDI), Other Types
2) By Substrate: Rigid, Flexible, Rigid-Flex
3) By Laminate Type: FR-4, Polyimide, Other Laminate Types
4) By End-Use Industry: Industrial Electronics, Healthcare, Aerospace And Defense, Automotive, IT And Telecom, Consumer Electronics, Other End Users
The use of biodegradable materials in printed circuit boards (PCBs) is shaping the printed circuit board market. Manufacturers are concentrating on decreasing electronic waste by replacing standard substrates with more ecologically friendly alternatives, which might help reduce the electronics sector’s overall environmental effect while also potentially lowering assembly and manufacturing costs. For instance, in August 2022, the Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab), a US-based research institute, developed a fully recyclable and biodegradable printed circuit to mitigate the health and environmental hazards posed by heavy metal waste from landfills. These printed circuit boards (PCBs) are composed of biodegradable polyester binders, conductive fillers such as silver flakes or carbon black, and enzyme cocktails, in which conductive ink provides electrical conductivity from the silver or carbon black particles and the biodegradable polyester embedded with purified enzymes such as Burkholderia cepacian lipase (BC-lipase) promotes the easy degradation of polymer chain into monomer.
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