By 2033, it is expected that the total sales of substrate-like PCBs might be USD 5.7 billion growing from USD 1.6 billion in 2023. Accordingly, the forecasted ten-year term is predicted to see a compound annual growth rate of 13.5% in sales of substrate-like PCBs.
Specialized circuit boards called substrate-like PCBs have improved electrical and thermal performance over conventional printed circuit boards. They are now employed in several sectors, including consumer electronics, telecommunications, and automotive, as well as the aerospace sector. As many industries are going to need such cutting-edge circuit boards, it suggests the demand for substrate-like PCBs is expected to rise over the coming years.
There could be a huge potential demand for substrate-like PCBs during the forecast years as sophisticated electronics are increasingly used by various sectors. Emerging technologies and applications like IoT devices, driverless cars, 5G technology, and AI systems are also estimated to drive the market growth possibilities for substrate-like PCBs.
The need for PCBs with enhanced electrical and thermal performance is rising as a result of technological developments and the rapid progression of industries. Moreover, substrate-like PCBs are compact and lightweight compared to rigid PCBs enabling effective use of available space in applications where compactness is critical. In addition to this, substrate-like PCBs' small size and weight also increase systems performance as a whole.
| Attributes | Details |
|---|---|
| Global Substrate-like PCB Market Valuation in 2022 | USD 1.4 billion |
| Estimated Global Market Share in 2023 | USD 1.6 billion |
| Forecasted Global Market Size by 2033 | USD 5.7 billion |
| Projected Global Market Growth Rate from 2023 to 2033 | 13.5% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 15.9% CAGR |
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By the end of the year 2018, the net valuation of the market was figured out by FMI to be around USD 0.8 billion. The 15.9% CAGR displayed that the market's average annual growth rate over the specified time frame from 2018 to 2022 was at its peak.
Stiff-flex PCBs can be expensive which can limit their sales for some years, as they require complicated manufacturing processes as compared to typical rigid PCBs. Beyond IoT and automotive electronics, rigid-flex PCBs are also anticipated to become widespread as technology develops and consumer demand for reliable electronics rises.
Rigid-flex PCBs have acquired a lot of interest in the design of IoT devices in the last few years due to their great endurance. These flexible wiring-connected printed circuit boards (PCBs) provide benefits over conventional rigid PCBs, particularly in high-vibration situations like automotive engines. So the automotive sector has increased its use creating a huge potential for this segment in recent years.
Principal Consultant
| Top Line or Space Type Segment | 25/25 µm and 30/30 µm Line or Space |
|---|---|
| Top Market Segment Historical CAGR from 2018 to 2022 | 15.7% |
| Top Market Segment Forecasted CAGR from 2023 to 2033 | 13.4% |
Growing focus on the 25/25 µm and 30/30 µm market segments in recent years has been highlighted by FMI experts in the report. By the conclusion of the analysis period, it is anticipated that this segment could dominate the overall market by following a high growth rate.
The automated optical inspection technology segment is anticipated to represent a sizable potential for the market growing at a high rate than other segments. Due to its ease of application and comparatively low operational cost, it is predicted to remain the preferred choice among end-users through 2033.
| Top Inspection Technology Segment | Automated Optical Inspection |
|---|---|
| Top Market Segment Historical CAGR from 2018 to 2022 | 15.5% |
| Top Market Segment Forecasted CAGR from 2023 to 2033 | 13.3% |
| Regional Market Attributes | Details |
|---|---|
| Historical CAGR of the United States Market from 2018 to 2022 | 12.6% |
| Forecasted CAGR of the United States Market from 2023 to 2033 | 12.3% |
| Anticipated Overall Market Value in the United States by 2033 | USD 852.9 million |
| The United States Market Absolute Dollar Growth Until 2033 | USD 585.5 million |
The demand for substrate-like PCBs in the United States is huge, and the market is anticipated to expand steadily due to evolving technology. Furthermore, the rising demand for high-performance electronics and the existence of key competitors in the country could play a crucial role in this progress. Although sales in the domestic market could expand at a pace of 12.3%, manufacturers hope to find great opportunities beyond the United States.
| Regional Market Attributes | Details |
|---|---|
| Historical CAGR of the United Kingdom Market from 2018 to 2022 | 11.1% |
| Forecasted CAGR of the United Kingdom Market from 2023 to 2033 | 11.9% |
| Anticipated Overall Market Value in the United Kingdom by 2033 | USD 142.6 million |
| Projected Growth of the Market Until 2033 in Absolute Dollar | USD 96.2 million |
The establishment of new PCB manufacturing facilities in Europe is a response to the expanding demand for circuit boards of superior quality. Germany, France, Spain, and the United Kingdom are mentioned as notable regional markets for substrate-like PCBs in Europe. The United Kingdom is also anticipated to expand at a slightly significant pace from 2023 to 2033 suggesting a promising market for manufacturers in Europe.
| Regional Market Attributes | Details |
|---|---|
| Historical CAGR of the China Market from 2018 to 2022 | 18.1% |
| Forecasted CAGR of the China Market from 2023 to 2033 | 15.1% |
| Anticipated Overall Market Value in China by 2033 | USD 1.5 billion |
| China Market Absolute Dollar Growth until 2033 | USD 1.1 billion |
Many Asia Pacific countries contribute significantly to the global PCB industry and also held a considerable share in this substrate-like PCB industry. Key participants in this geographical region include China, Japan, South Korea, India, and Taiwan as well as some South East Asian Association countries. Further, China holds strong PCB manufacturing capacities, which are projected to be fueled by the region's emphasis on technical improvements and production capacities.
| Regional Market Attributes | Details |
|---|---|
| Historical CAGR of the Japan Market from 2018 to 2022 | 17% |
| Forecasted CAGR of the Japan Market from 2023 to 2033 | 13.8% |
| Anticipated Overall Market Value in Japan by 2033 | USD 1 billion |
| Japan Market Absolute Dollar Growth Until 2033 | USD 726 million |
India is emerging as a significant center for electronics production, including substrate-like PCBs, due to its trained labor, welcoming business environment, and supportive infrastructure. In contrast, the state of the economy, changes in regulations, and industry competitiveness can have an impact on the market dynamics of other regional countries.
AT&S AG, which produces high-tech PCBs for a range of medical applications, said in January 2022 to expand its manufacturing facility in Asia Pacific. Asia Pacific PCB manufacturers now have great access to chips and this expansion guarantees its development in the Southeast Asian medical devices sector.
| Regional Market Attributes | Details |
|---|---|
| Historical CAGR of the South Korea Market from 2018 to 2022 | 17.4% |
| Forecasted CAGR of the South Korea Market from 2023 to 2033 | 14% |
| Anticipated Overall Market Value in South Korea by 2033 | USD 357.7 million |
| South Korea Market Absolute Dollar Growth Until 2033 | USD 261.3 million |
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Manufacturers’ response to rising worries about cutting-edge technology, the robustness of the PCB supply chain, and geographical diversity influence the overall market competitive landscape. Moreover, opening highly automated printed circuit board (PCB) production facilities by many leading market players demonstrates their dedication to cutting-edge technology. For instance,
Leading players hope to remain competitive in the developing electronics market and fulfill the rising demand for complex circuit boards by making high-tech investments. They are also putting a huge emphasis on increasing the resilience of the PCB supply chain after the recent pandemic disruptions. Furthermore, recent geopolitical issues have highlighted how crucial it is to diversify production sites leading to frequent mergers and partnerships with regional players.
How can Substrate-like PCB Manufacturers Scale their Businesses in the Global Market?
The substrate-like printed circuit board (PCB) manufacturers can adopt ongoing innovation and product development initiatives to scale up their businesses. By extending production facilities to emerging economies, manufacturers can reduce any risks and can make sure that their goods have a reliable supply chain.
Existing players as well as start-ups can adopt industrial automation systems to increase the production capacity of their facilities. Moreover, automation increases productivity, accuracy, and scalability, enabling the manufacture of high-quality substrate-like printed circuit boards (PCBs). New players can also take advantage of access to a large talent pool and fortify their position by utilizing the benefits of e-commerce platforms.
Key Players Profiled in the Substrate-like PCB Market Report
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million or USD billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; The Middle East & Africa; East Asia; South Asia and Oceania |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Line or Space Type, By Inspection Technology, By Application, and By Region |
| Key Companies Profiled | Kinsus Interconnect Technology; Ibiden Co.; Ltd.; Compaq Manufacturing Co.; Ltd.; Unimicron Technology Corporation; Austria Technologie & Systemtechnik AG (AT&S); TTM Technologies; Samsung Electro-Mechanics; Korea International Circuit Incorporation; Zhen Ding Technology; Daeduck Gds Company; and Tripod Technology Corp |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 1.6 billion in 2023.
TTM Technologies and Zhen Ding Technology are key market players.
The consumer electronic industry are likely to remain preferred through 2033.
Players opt for new launches, collaborations and partnerships.
Japan, India and China dominate the Asian market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Line/Space 5.1. 25/25µm and 30/30µm Line/Space 5.2. Less Than 25/25 µm Line/Space 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Inspection Technology 6.1. Automated Optical Inspection 6.2. Direct Imaging or Laser Direct Imaging 6.3. Automated Optical Shaping 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Consumer Electronics 7.2. Computing and Communications 7.3. Automotive 7.4. Medical 7.5. Industrial 7.6. Military, Defense, and Aerospace 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Kinsus Interconnect Technology 16.2. Ibiden 16.3. Compeq 16.4. Unimicron 16.5. AT&S 16.6. TTM Technologies 16.7. Samsung Electro-Mechanics 16.8. Korea Circuit 16.9. Zhen Ding Technology 16.10. Daeduck Gds Company 16.11. Tripod Technology Corp 17. Assumptions & Acronyms Used 18. Research Methodology
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Substrate-like PCB Market
