The Global Substrate Market size is estimated at USD 4.13 billion in 2024, and is expected to reach USD 5.24 billion by 2029, growing at a CAGR of 4.88% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, there was a disruption in the electronics industry's supply chain, which challenged market growth. With reduced disposable incomes and depressed consumer sentiment, consumers chose to buy necessities, like food and cleaning products, and avoid non-essential, big-ticket purchases, like wearable devices.
The global substrate market is highly fragmented. Manufacturers globally have depended on designs, such as high-density interconnect (HDI) PCBs, to place more hardware in limited space. HDI PCBs use high-performance and coreless construction. Compared to traditional PCBs, they sport more densely packed wiring, miniaturized laser vias, capture pads, and other features. The industry's established players are leveraging their manufacturing capabilities and research and development capabilities to drive innovation and sustain their competitive position in the market.
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