PCB industry belongs to the basic industry of electronic information product manufacturing and is highly related to the macroeconomic cycle. Global PCB manufacturers are mainly distributed in China mainland, China Taiwan, Japan and South Korea, southeast Asia, the United States and Europe and other regions. Currently, China mainland has developed into the most important production base of global PCB industry.
According to Prismark forecast data, affected by the factors such as trade friction, the global PCB industry output value is about $61.34 billion in 2019, edged down 1.7%, compared to the expected global PCB industry production rose 2% in 2020, the compound growth rate of about 4.3% in 2019-2024, in the future to China PCB industry transfer trend will continue, industry concentration will further increase.
PCB industry moves to mainland China
From the perspective of regional market, the Chinese market performs better than other
regions. In 2019, the output value of China’s PCB industry is about 32.942 billion us dollars, with a small growth rate of 0.7%, and the global market takes up about 53.7%. The compound growth rate of output value of China’s PCB industry from 2019 to 2024 is about 4.9%, which will still be better than other regions in the world.
With the rapid development of 5G, big data, cloud computing, artificial intelligence, Internet of things and other industries, as well as the advantages of industrial support and cost, the market share of China’s PCB industry will be further improved. From the perspective of product structure, the growth rate of high-end products represented by multi-layer board and IC packaging substrate will be significantly better than that of ordinary single-layer board, double-panel and other conventional products. As the first year of 5G industry development, 2019 will see 5G, AI and intelligent wearing become important growth points of PCB industry. According to prismark’s February 2020 forecast, the PCB industry is expected to grow by 2% in 2020 and grow at a compound annual growth rate of 5% between 2020 and 2024, resulting in a global output of $75.846 billion by 2024.
Industrial development trend of major products
Telecommunications industry
The communication electronics market downstream of PCB mainly includes mobile phones, base stations, routers and switches. The development of 5G promotes the rapid development of the communication and electronics industry. Prismark estimates that the output value of electronic products in the PCB downstream communication and electronics market will reach $575 billion in 2019, and will grow by 4.2% cagr from 2019 to 2023, making it the fastest growing downstream area of PCB products.
Output of electronic products in communication market
Prismark estimates that the value of PCBS in communications and electronics will reach$26.6 billion in 2023, accounting for 34% of the global PCB industry.
Consumer Electronics Industry
In recent years, AR (augmented reality), VR (virtual reality), tablet computers, and wearable devices have frequently become the hot spots in the consumer electronics industry, which superposition the general trend of global consumption upgrading. Consumers are gradually changing from the previous material consumption to the service and quality consumption.
At present, the consumer electronics industry is brewing the next AI, IoT, intelligent home as the representative of the new blue sea, innovative consumer electronics products emerge in an endless stream, and will permeate every aspect of consumer life. Prismark estimates that the output of electronic products in the downstream PCB consumer electronics industry will reach $298 billion in 2019, and the industry is expected to grow at a compound rate of 3.3% between 2019 and 2023.
Output value of electronic products in the consumer electronics industry
Prismark estimates that the value of PCBS in consumer electronics will reach $11.9 billion in 2023, accounting for 15 percent of the global PCB industry.
Automotive electronics
Prismark estimates that the value of PCB products in automotive electronics will reach $9.4 billion in 2023, accounting for 12.2 percent of the global total.