Global Multilayer Printed Circuit Board Market Size, Share & Trends Analysis Report By Layer (Layer 4 to 6, and Layer 6 & Above), By Substrate (Rigid, Flexible, and Rigid-Flex), By End Use Industry, By Regional Outlook and Forecast, 2024 - 2031

The Global Multilayer Printed Circuit Board Market size is expected to reach $99.11 billion by 2031, rising at a market growth of 5.2% CAGR during the forecast period.

The growing demand for compact, high-performance devices such as smartphones, laptops, tablets, and smart home systems primarily drives the segment. The rollout of 5G technology has significantly boosted the need for multilayer PCBs that support high-speed data transmission and enhanced functionality in these devices. Therefore, the consumer electronics segment witnessed 27% revenue share in the market in 2023. Additionally, the trend toward miniaturization, energy efficiency, and advanced features in consumer electronics continues to fuel innovation in PCB design and production. The increasing popularity of wearables, gaming devices, and IoT-enabled products further propels the growth of this segment.

Enhanced manufacturing processes have also played a pivotal role in improving multilayer PCBs' performance, reliability, and cost-efficiency. Techniques such as laser drilling allow for the creation of microvias, enabling denser and more intricate PCB layouts. This technology ensures precise connections between layers, essential for high-speed and high-frequency applications. These improvements not only enhance the quality and durability of the final product but also streamline production processes, leading to reduced manufacturing costs and shorter lead times. Additionally, the growing trend toward portable and wearable medical devices has significantly accelerated the demand for multilayer PCBs. Compact, ergonomic designs, wearable health monitors, fitness trackers, and portable diagnostic tools rely multilayer PCBs to integrate sensors, processors, and communication modules. Thus, as healthcare moves toward remote monitoring and personalized medicine, the need for multilayer PCBs in the medical sector is expected to grow exponentially.

However, the prevailing trend of miniaturization within the electronics sector has heightened the demand for alternative solutions. Consumers and industries are seeking smaller, lighter, and more powerful devices. Alternatives like flexible PCBs and SiP solutions cater to this demand by integrating more functionality into a compact footprint, providing a compelling advantage over traditional multilayer PCBs. For instance, in smartphones, tablets, and IoT devices, SiP solutions can deliver advanced performance while conserving space and energy. Similarly, flexible PCBs are widely used in foldable smartphones and other next-generation gadgets, whereas traditional rigid multilayer PCBs cannot compete. Thus, as these alternatives gain traction, they pose a substantial challenge to the market.

Layer Outlook

Based on layer, the market is bifurcated into layer 4 to 6 and layer 6 & above. The layer 4 to 6 segment garnered 54% revenue share in the market in 2023. These PCBs offer sufficient layers for moderate performance requirements, such as in consumer electronics, industrial automation, and automotive systems, without the high costs associated with more complex designs. The rising adoption of smartphones, laptops, and IoT devices, particularly in emerging markets, has significantly boosted demand for this segment.

Substrate Outlook

On the basis of substrate, the market is classified into rigid, flexible, and rigid-flex. The flexible segment recorded 20% revenue share in the market in 2023. Flexible printed circuit boards are being increasingly utilized in cutting-edge applications, including wearable technology, foldable smartphones, and sophisticated medical devices, owing to their capacity to adapt to unconventional geometries and accommodate confined spaces. The trend toward miniaturization and portability in electronics, combined with advancements in material technology that enhance the durability and performance of flexible PCBs, is a key driver for this segment. Their versatility and ability to enable cutting-edge designs make them indispensable in industries focused on innovation and compact solutions.

End Use Industry Outlook

By end user industry, the market is divided into industrial electronics, healthcare, aerospace & defense, automotive, IT & telecom, consumer electronics, and others. The automotive segment procured 11% revenue share in the market in 2023. The segment is driven by the increasing integration of electronic components in vehicles, particularly electric vehicles (EVs) and advanced driver-assistance systems (ADAS). Multilayer PCBs enable battery management, infotainment, navigation, and safety features. The push for sustainable and connected transportation solutions has spurred innovation in automotive electronics, requiring sophisticated PCBs to handle high-speed communication, power management, and environmental durability.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment acquired 38% revenue share in the market in 2023. The Asia Pacific segment is driven by its role as a global manufacturing hub for electronics, with countries like China, Japan, South Korea, and Taiwan leading PCB production. The region's well-established supply chains, cost-efficient labor, and advanced manufacturing facilities contribute to its dominance. The industry has expanded significantly because of the growing demand for consumer electronics, like laptops and smartphones, as well as the rapid rollout of 5G networks and Internet of Things (IoT) technologies. The automotive industry's expansion, particularly in electric vehicles, also supports the increasing adoption of multilayer PCBs in this region.

List of Key Companies Profiled

• TTM Technologies, Inc.
• Fujikura Ltd.
• Flex Ltd.
• Jabil, Inc.
• Plexus Corporation
• Benchmark Electronics, Inc.
• Creation Technologies LP
• Sierra Circuits, Inc.
• Epec LLC
• Molex, LLC (Koch Industries, Inc.)

Global Multilayer Printed Circuit Board Market Report Segmentation

By Layer

• Layer 4 to 6
• Layer 6 & Above

By Substrate

• Rigid
• Flexible
• Rigid-Flex

By End Use Industry

• Consumer Electronics
• Industrial Electronics
• IT & Telecom
• Automotive
• Healthcare
• Aerospace & Defense
• Other End Use Industry

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA