Asia-Pacific Printed Circuit Board Market Forecast Analysis 2024-2032
As per Triton’s research report, the printed circuit board market in the Asia-Pacific is estimated to expand in terms of revenue at a CAGR of 5.64% during the forecast period 2024-2032.
The printed circuit board market in the Asia-Pacific region is experiencing significant growth, fueled by the rising adoption of smart devices, increasing demand for consumer electronics, and the expanding semiconductor market. Recently held ‘Electronics Circuit Asia 2024’ in Thailand had the industry experts discuss the current trends for high-layer count PCBs and HDI to meet next-generation requirements of EV batteries, automotive, and more. The event also highlighted the growth prospects of PCB production, particularly in Southeast Asia. Thailand is rapidly emerging as a new hotspot, drawing significant investments from Korean, Taiwanese, Chinese, and Japanese PCB companies. Evidently, the demand for printed circuit boards in the Asia-Pacific region is bound to expand in the coming years.
The countries analyzed in this region include China, Australia & New Zealand, ASEAN Countries, Japan, South Korea, India, and Rest of Asia-Pacific.
China leads with a major market share, recording nearly $34.28 billion in 2023.
- The printed circuit board market in China is rapidly growing, driven by the expanding consumer electronics sector and the increased manufacturing capacity of production companies.
- Diehl Controls is also set to launch production of electronic systems at its second plant in China. This investment aims to boost sales to over 2 billion RMB by 2026. As production increases to meet higher sales targets, the demand for PCBs will rise, creating a ripple effect that boosts overall PCB demand in the country.
- Additionally, the PCB manufacturers in China are driving a surge in investments across Southeast Asia, with a significant focus on Thailand. Such initiatives are widening the scope of the printed circuit board market in the country.
Printed Circuit Board Market Forecast for India
Recently, Amber Enterprises revealed its plan to invest ₹2,000 crore to establish a printed circuit board manufacturing facility in India. The new PCB production facility will cater to a wide range of industries, including mobile, IT, semiconductors, aerospace, and more. This initiative aims to meet both domestic and export demand, supporting India’s push to enhance electronics manufacturing and reduce reliance on imports for key components.
Similarly, in June 2024, BPL launched another PCB production unit in Bengaluru with a ₹20 crore investment, expected to significantly impact India’s PCB industry. The facility supports commercial production, including double-side and multi-layer PCBs, and has created 110 direct and 150 indirect jobs. Such active efforts to cater to the increasing manufacturing of electronic devices are set to widen the scope of the printed circuit board market in the country.
The printed circuit board market is segmented by raw material, substrate, and application. Based on raw material, it is further classified into glass fabric, epoxy resin, Kraft paper, phenolic resin, and other raw materials. Glass fabric is used in printed circuit boards to offer protection against moisture, electrostatic discharge, power failures, and high temperatures. An advanced technique for reinforcing glass fiber during lamination results in a flatter, thinner weave. This creates a smoother, more uniform surface, ideal for laser drilling and mechanical processes while also enhancing dimensional stability.
Contender Analysis in the Printed Circuit Board Market:
Unimicron Technology Corporation manufactures and sells printed circuit board and IC carrier products in Taiwan and the international market. The company provides rigid PCBs, which include heavy-density interconnection boards, heavy copper, multi-layer PCBs, and back panel high-layer count PCBs. It also offers a connector, flexible printed circuit, package-on-package substrate UTS and substrate. Its products are used in tablets, MP3 players, portable game consoles, GPS, e-readers, camcorders, DSC and LCD modules. It is headquartered in Taoyuan, Taiwan.
Bloom Energy, a California-based company, signed an agreement with Unimicron to install up to 10 MW of fuel cells at its plants in Taiwan. The installations are expected to be completed by 2026.
Other key contenders in the market include Ascent Circuit Pvt Ltd, Daeduck Electronics, TTM Technologies Inc, Hannstar Board Corporation, Zhen Ding Technology Holding Ltd, and Young Poong Electronics Co Ltd.
ASIA-PACIFIC PRINTED CIRCUIT BOARD MARKET 2024-2032.pdf