Printed circuit board (PCB) is a bridge that carries electronic components and connects circuits. It is widely used in communication electronics, consumer electronics, computers, automotive electronics, industrial control, medical equipment, national defense, aerospace, and other fields. The level of development of the PCB industry can to some extent reflect the development speed and technological level of the electronic information industry in a country or region.
1. Definition of PCB
Printed Circuit Board (PCB) refers to an electrical board where copper wiring patterns are formed on a copper clad board according to a predetermined design. Its main function is to allow various electronic components to be connected according to the predetermined circuit, serving as an electrical connection. PCB is a crucial interconnecting component used for electronic component assembly. It not only provides electrical connections for electronic components but also carries digital and analog signal transmission, power supply, and RF microwave signal transmission and reception functions. The vast majority of electronic devices and products require PCBs and are therefore known as the “mother of electronic products”.
2. PCB Industry Development Policy
In recent years, the government regulatory authorities have introduced a series of laws and policies related to printed circuit boards (PCBs), with the main purpose of promoting the provision of more convenient and efficient equipment in the PCB industry, and supporting high-quality and rapid development in the industry and related fields. The gradual implementation of industry policies and the continuous introduction of new policies will have a positive and beneficial impact on the business development of companies in the industry.
3. PCB Industry Development Status
3.1 Global PCB Market Size
According to the well-known industry research organization Prismark, the total output value of the global PCB industry reached 81.741 billion US dollars in 2022, an increase of 1.0% year-on-year. With the continuous drive of new technologies such as AI, 5G network communication, and new energy vehicles, it is estimated that the PCB industry will continue to grow steadily in the next 5 years. According to Prismark’s forecast, the global PCB industry output value will grow at a compound annual growth rate of 3.8% between 2022 and 2027, reaching 98.388 billion US dollars by 2027.
3.2 The size of China’s PCB market
The rapid development of artificial intelligence technology, represented by ChatGPT, will drive the explosion of AI servers and products in the field of artificial intelligence. In the next five years, 5G, artificial intelligence, the Internet of Things, Industry 4.0, cloud servers, storage devices, automotive electronics, etc. will become new directions driving the growth of PCB demand. At the same time, weak demand for global electronic products and the automotive industry will have a certain impact on the PCB industry. It is predicted that the growth rate of China’s PCB output value will slow down in 2023, reaching 309.663 billion yuan.
3.3 PCB Market Product Structure
The main products in the subdivision market of printed circuit boards include rigid boards, flexible boards, rigid-flex boards, and packaging substrates. In terms of the proportion of output value in each subdivision market, in 2021, the product structure of China’s PCB market was dominated by rigid boards, including multi-layer boards, single/double-sided boards, and HDI boards, with a combined market share of 81%; flexible boards accounted for 14%; IC carriers accounted for 4%; and rigid-flex boards accounted for 1%. Overall, compared with countries such as Japan and South Korea, China’s high-end PCB products have a relatively low proportion, indicating a great potential for improvement.
3.4 PCB downstream application situation
The downstream applications of PCB are widely distributed, covering fields such as communication, computer, automotive electronics, consumer electronics, and industrial control. According to data, in 2021, the downstream application field with the highest proportion of China’s PCB market is communication, reaching 33%; followed by computers, accounting for about 22%. Other downstream application areas with a large PCB market are automotive electronics and consumer electronics, accounting for 16% and 15% respectively.
