Emerging Markets and Opportunities in PCB Manufacturing

Although printed circuit boards (PCBs) were only first developed in the 20th century, the technology within them (and that used to make them) has seen significant improvements since then.

In tandem with these advancements, we have seen the use of PCBs skyrocket, especially in recent times. They are now at the heart of nearly every industry, from daily wearable technology and medical and military applications to spacecraft and everything in between. 

Although global PCB manufacturing saw a slight decline in 2023 due to supply and demand imbalances triggered by the COVID-19 pandemic, the industry is already looking at a revival in 2024. Hopes are high for more strong and stable development throughout this year.

The Taiwan Printed Circuit Association published an estimated growth of 6.3% in January 2024, which the Industrial Technology Research Institute (ITRI) supported. This brought the industry's global value to USD $78.2 billion. 

Replenishing stocks in countries with a strong electronic manufacturer base and boosting the demand for specialized PCB varieties will help facilitate this projected growth.

According to the Printed Circuit Board Association, once the consumer market grows with the global economy, the PCB market will be able to sustain long-term growth of 4%–5%.

The Current Market Breakdown of PCBs

Since there is a push to increase the demand for more specialized PCB types, it is worth examining a market breakdown of some of today’s particular PCBs, as there have already been some interesting shifts in market size over the last few years.

For instance, while the High-Density Interconnect (HDI) PCB market was valued at $9.49 billion in 2017, it is projected to reach $22.25 billion by 2025, with a compound annual growth rate (CAGR) of 11.1% from 2018 to 2025. 

The global Flexible PCB market was valued at $12.76 billion in 2020 but is projected to hit $15.29 billion by 2026, with a CAGR of 3.1% for this period. The market value of Multilayer Printed Circuit Boards was $23 billion in 2018 but is projected to reach $26.7 billion by 2025, with a CAGR of 1.9%.

Although PCBs have become an integral part of every industry imaginable, the top end-use industries that currently heavily rely on them include business/retail/computers (30%), communications/telecom (28%), consumer electronics (20%), automotive (10%), industrial/medical (9%), and government/military/defense (3%).

The Latest Trends in the PCB Manufacturing Industry

The best way to predict the future of the PCB market is to examine some of the current trends in PCB fabrication and reflect on the reciprocal shifts in demand among consumers. After all, the following key developments are driving the industry forward and will likely continue to do so.

1. A push for flexible PCBs

The significant expansion of industrial automation is driving demand for more durable, flexible PCBs for use in smart sensors, control systems, and robotics. The increased popularity of wearable devices, such as smart watches has also fuelled this demand for flexible PCBs, as such circuit boards can be folded into a space-conserving shape.

In addition, satellite and space exploration initiatives support the need for robust and reliable flexible boards for aerospace applications. Thus, an increased demand for innovations in space-quality electronic solutions is likely around the corner.

2. Heightened global demand for digitalization

The demand for digitalization is already massive in the developed world, but this demand is also seeing growth in developing and underdeveloped countries. As this growth continues, it will likely contribute to an increased need for PCBs and PCBA  (printed circuit board assembly) on both the consumer and industrial fronts.

3. The rise of sustainable and recycled PCBs

We are already starting to see a rising emphasis on the importance of using sustainable and environmentally friendly materials to manufacture PCBs. There is also increasing pressure on the supply chain to reduce carbon dioxide emissions, with many countries creating policies that support carbon-neutral electronic products.

In the coming years, more governments are expected to establish rules pertaining to sustainability in an effort to preserve environments across the globe. Such rules and regulations are expected to support growth in the recycling of PCBs.

4. Integration of IoT and AI

Another current major driver of change within the PCB manufacturing industry is the integration of the Internet of Things (IoT) and artificial intelligence (AI), which has paved the way for improved efficiency and greater functionality thanks to increased automation.

Many industries are already taking advantage of IoT technology, including transportation and logistics, manufacturing, industrial automation, healthcare, and insurance. AI has also expanded into virtually every industry and is especially relevant to e-commerce, cybersecurity, finance, logistics, marketing, and education.

As both IoT- and AI-based technologies continue to evolve and become more widespread, PCB design innovations are sure to follow. The integration of these advanced technologies demands more complex and efficient PCB layouts to support their enhanced functionalities. 

While IoT devices will require PCBs that can handle wireless communication and low power consumption (while fitting into compact designs), AI applications will necessitate high-speed data processing and efficient thermal management to support powerful computational tasks.

How Circuits Central Can Help You Design and Manufacture Top-Quality PCBs

As PCBs continue to become an increasingly integral cog in the modern world's machine, you will need a reliable producer for top-quality PCB manufacturing. Circuits Central can provide exactly that.

We are a world-class electronics manufacturer offering a full spectrum of electronics and PCB manufacturing services. These include material procurement, PCB layout design, PCB prototyping, PCB assembly, and post-manufacturing testing and development.

For over 25 years, we have helped customers in various industries design and manufacture top-notch PCBs with an unmatched level of performance and functionality. We would be happy to do the same for you.

Our flexible, by-design production facility allows us to modify our PCB solutions to adapt to your specific needs. Our expert technicians are equipped to handle any production volume that you require, with PCBs of varying complexities. 

Our state-of-the-art facility and innovative technology allow us to maintain consistently high-quality results and equally high customer satisfaction. If you want an edge over your competitors, come to Circuits Central for the design and production of your PCBs. 

For more information about our approach to PCB manufacturing, or to learn more about all of our different PCB-related services, call Circuits Central at 1 (888) 602-7264 or contact us here.