Printed circuit boards serve as the essential links that support electronic components and interconnect circuits. Often referred to as the “mother of electronic products,” they find extensive application across communication electronics, consumer electronics, computers, automotive electronics, industrial control, medical devices, and aerospace, among other sectors. As a crucial electronic component in modern information technology products, the advancement of the printed circuit board industry can serve as an indicator of the growth and technical sophistication of a country or region’s electronic information sector. In the current landscape marked by rapid advancements in cloud technology, 5G network deployment, big data, artificial intelligence, the sharing economy, Industry 4.0, and the Internet of Things, the PCB industry, as the “mother of electronic products,” is poised to play a pivotal role in the entire electronic industry supply chain. In recent years, however, the growth of key global electronics sectors such as personal computers and smartphones has experienced a slowdown,
(1) Due to superimposed inventory adjustments, the PCB industry has experienced a short-term correction. Following a slight decline in 2015 and 2016, the global PCB output value began to grow again. In 2018, the total output value of the global PCB industry is estimated to reach 63.5 billion U.S. dollars, marking an 8% increase from the previous year. Over the next five years, the global PCB market is expected to sustain moderate growth. Key areas driving PCB demand will include 5G communications, the Internet of Things, automotive electronics, Industry 4.0, cloud servers, and storage devices.
(2) Development status of China’s PCB industry
Since the 21st century, as the global electronic information industry has transitioned from developed nations to emerging economies, Asia—especially China—has become the world’s leading production base for electronic information products. In 2018, the revenue of China’s electronic information manufacturing industry above a designated size reached 14.1 trillion yuan, with an 8% year-on-year growth rate. With the migration of the electronic information industry chain, the PCB sector, as a foundational industry, has also concentrated in Asia, including Southeast Asia. Prior to 2000, over 70% of the global PCB output value was distributed across the Americas (primarily North America), Europe, and Japan. Since the dawn of the 21st century, the focus of the PCB industry has shifted toward Asia. Currently, Asia accounts for nearly 90% of the world’s PCB output value, particularly in China and Southeast Asia. Since 2006, China has overtaken Japan to become the largest PCB producer globally, ranking high in output and output value. In recent years, as the global economy undergoes profound adjustments, major economies like Europe, the U.S., and Japan have seen a significant reduction in their roles as engines of world economic growth, resulting in limited or even shrinking PCB market growth; meanwhile, China’s integration into the global economy has steadily increased, capturing half of the global PCB market. China’s share of the total output value of the global PCB industry rose from 31% in 2008 to 52% in 2018. It is projected that in the next five years, Asia will continue to lead the global PCB market, with China firmly at the center. The PCB industry is expected to maintain a compound growth rate of 3.7%, with the total output value anticipated to reach 35.7 billion U.S. dollars by 2022.
