Multilayer Printed Circuit Board Market By Layer (Layer 4-6, Layer 6+), By Substrate (Rigid, Flexible, Rigid-Flex) By End Use Industry (Industrial Electronics, Healthcare, Aerospace & Defense, Automotive, IT & Telecom, Consumer Electronics, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032
Multilayer Printed Circuit Board Market
The multilayer printed circuit board market was valued at $88.1 billion in 2023, and is projected to reach $144.7 billion by 2032, growing at a CAGR of 5.7% from 2024 to 2032.
A multilayer printed circuit board (PCB) is a sophisticated structure integrated in electronic devices to increase the available area for wiring via insulating materials and multiple layers of conductive copper pathways. Multilayer PCBs differ from the conventional single-layer PCBs as the former stacks different independent circuit layers via intricate lamination processes. These boards are crucial for complex electronics as they lodge more circuits in a compact space, refine noise reduction, and enhance signal integrity.
With increasing adoption of consumer electronics such as smartphones, laptops, and wearable devices, the demand for multilayer PCB is rising substantially. In addition, the expansion of telecommunication infrastructure and rollout of 5G networks is driving the growth of the multilayer printed circuit board market. The adoption of microvia technology is a prominent trend gaining popularity in the market. Microvia is a small, drilled hole which elevates the performance of PCBs by facilitating interconnections, improving heat dissipation, and enabling complex routing & finer pitch components.
However, multilayer PCBs witness strong competition from alternative technologies, including flexible PCBs and organic PCBs. This competitive landscape hinders the development of the multilayer printed circuit board market. Moreover, the high expense associated with the procurement of raw materials and the production of PCBs restrains market growth. Contrarily, the establishment of initiatives and roadmaps by various organizations toward the development of multilayer PCBs are anticipated to open new avenues for the market expansion. For instance, the European Union launched a Multilayer PCB Development Initiative on January 2023. This initiative involves the allocation of funds to expand the manufacturing capabilities for multilayer PCB across member states.
Segment ReviewThe multilayer printed circuit board market is segmented into layer, substrate, end use industry, and region. On the basis of layer, the market is bifurcated into layer 4-6 and layer 6+. As per substrate, it is divided into rigid, flexible, and rigid-flex. According to end-use industry, it is classified into industrial electronics, healthcare, aerospace & defense, automotive, IT & telecom, consumer electronics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of layer, the layer 4-6 segment dominated the market in 2023.
As per substrate, the rigid segment was the highest shareholder in 2023.
According to end-use industry, consumer electronics segment acquired a high stake in the market in 2023.
Region wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global multilayer printed circuit board market include Sumitomo Electric Industries, Ltd., Nippon Mektron, Ltd., Compeq Manufacturing Co., Ltd., Amphenol ZD Tech, TTM Technologies, Inc., TE Connectivity Ltd., Unimicron Technology Corporation, AT&S Austria Technologie & Systemtechnik AG, Molex, and Hon Hai Precision Industry Co., Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy LayerLayer 4-6
Layer 6+
By SubstrateRigid
Flexible
Rigid-Flex
By End Use IndustryIndustrial Electronics
Healthcare
Aerospace Defense
Automotive
IT Telecom
Consumer Electronics
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Sumitomo Electric Industries, Ltd.
Nippon Mektron, Ltd.
Compeq Manufacturing Co., Ltd.
Amphenol ZD Tech
TTM Technologies, Inc.
TE Connectivity Ltd.
Unimicron Technology Corporation
AT&S Austria Technologie & Systemtechnik AG
Molex
Hon Hai Precision Industry Co., Ltd.