Printed Circuit Board Market to Expand by USD 26.8 Billion by 2029
Berlin, Wednesday, 12 February 2025.
The PCB market will grow by USD 26.8 billion from 2025 to 2029, driven by AI technology and smartphone adoption. Key concerns include environmental impact and a shift toward greener alternatives.
Market Growth and Regional Dominance
The global PCB market is projected to achieve a compound annual growth rate (CAGR) of 6.2% during the forecast period [1][2], building on its strong historical performance of 5.8% year-on-year growth from 2022 to 2023 [1]. The Asia-Pacific region continues to dominate the market, accounting for 88% of the global contribution, with China, Taiwan, South Korea, Japan, and India leading production [1][2]. This regional concentration reflects the established manufacturing infrastructure and technological expertise in these countries [1].
Technological Drivers and Innovation
Multi-layer PCBs are currently leading market demand, particularly in telecommunications and consumer electronics sectors [1]. The industry is witnessing significant innovation in flexible circuits and rigid-flex PCBs, which are gaining popularity due to their versatility and reliability [4]. The integration of 3D printing technology in PCB production is emerging as a game-changer, offering improved production efficiency and cost-effectiveness [4]. These technological advancements are crucial for meeting the growing demands of AI applications, 5G infrastructure, and IoT devices [1][4].
Environmental Challenges and Industry Response
A significant challenge facing the PCB industry is environmental sustainability [1][4]. The use of hazardous materials such as lead, mercury, and brominated flame retardants in PCB manufacturing has raised serious environmental concerns [1]. The industry is actively addressing these issues through the development of greener alternatives and more sustainable manufacturing processes [4]. The non-biodegradable nature of components like epoxy resins containing chlorine remains a particular concern that manufacturers must address for sustainable market growth [4].
Market Competition and Future Outlook
The market remains highly fragmented, with key players including APCT, Jabil Inc., and Sumitomo Electric Industries Ltd. competing for market share [2]. Industry automation and the implementation of advanced manufacturing processes are becoming crucial for maintaining competitiveness [1]. Despite environmental challenges, the market’s future appears promising, driven by ongoing innovations and steady demand from major technology companies [4]. The industry’s ability to adapt to environmental regulations while meeting the growing demand for advanced electronic devices will be crucial for sustained growth through 2029 [1][4].