In terms of revenue, the Benelux printed circuit board market was valued at $87.95 million in 2021, and is expected to reach $103.77 million by 2030, growing at a CAGR of 1.81% during the forecast period. The market study has also analyzed the impact of COVID-19 on the printed circuit board industry qualitatively as well as quantitatively.

A printed circuit board (PCB) is a type of circuit board that links electric and electronic components with conductive channels and also provides mechanical support. Almost all electronic goods, including passive switch boxes, have them. Due to the ongoing advancements in consumer electronics devices and the increasing demand for PCBs in all electrical and electronic equipment, the printed circuit board (PCB) market has projected considerable growth in recent years.

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Key growth enablers of the Benelux printed circuit board market are:

• Adoption of PCBs in automobiles
  • The rising use of PCBs in different types of automobiles is a key growth driver of the PCB industry. The automobile industry has undergone tremendous transition as a result of recent technological breakthroughs, and the need for PCBs has increased. In addition, the trend of autonomous driving, complex safety systems, and electric/hybrid vehicles, have continued to fuel the demand for effective PCB utilization in the automobile industry.
• Growing sales of consumer electronics
• Demand for PCB in industrial automation

Key growth restraining factors are:

• Strict requirements to comply with legislation
• Technical complexities
  • One of the obstacles for PCB makers is the wide variety of complexities that the product goes through and the high prices involved. The PCBs used in many industries must sometimes resist hostile environments, which necessitates the capacity to tolerate a variety of stresses.
  • The PCB is subjected to environmental loads such as bending, vibrations, temperature cycling & storage, a combination of different loads, and humidity at any given time.
• High costs

Benelux Printed Circuit Board Market | Top Trends

• Consumer electronics firms have new prospects, accredited to the Internet of Things (IoT). Chips and flexible sensors are used in wearable devices such as smartwatches. A breakthrough in the design and manufacture of these devices could substantially impact the PCB industry.
• Flexible PCB technology has already been beating rigid PCB technology in terms of revenue growth, indicating that flexible PCBs have a promising future. Flexible PCBs are increasingly being used in a variety of devices, including wearables, medical instruments, flexible displays, and LED lighting, which is propelling the industry’s growth.
• Alternatives to synthetic polymer-based circuit boards include natural fibers and protein-based PCBs. They assist producers in reducing the environmental burden related to the disposal of electronic trash (e-waste). As a result, they are expected to become more common in manufacturing in the coming years.

Market Segmentation – Raw Materials, Application, and Substrate –

Market by Raw Materials:

• Epoxy Resin
  • The epoxy resin segment accounted for the majority of the market share in 2021. Epoxy resins are the primary resin used in transistors and hybrid circuits in the electronics industry.
  • Epoxy resins are also used to glue copper foil to circuit board surfaces. Several epoxy resin formulations have been created exclusively for encasing electronics. They have a variety of properties, including flame retardancy, chemical resistance, high-temperature resistance, and water resistance.
• Glass Fabric
• Phenolic Resin
• Kraft Paper
• Other Raw Materials

Market by Application:

• Communications
  • With increased 5G developments in the region and a growing preference for effective hardware and PCBs, the communications industry is expected to gain a significant market share by 2030.
  • PCBs have several advantages over competing technologies, such as bent metal and cable, due to the usage of additional frequencies and consumer demand for improved performance and lower latency. As a result, they are expected to acquire commercial momentum.
• Consumer Electronics
• Industrial Electronics
• Automotive
• Military
• Other Applications

Market by Substrate:

• Standard Multilayer
• Flexible Circuits
• High Density Interconnect (HDI)
• Integrated Circuits (ICs)
• Rigid 1-2 Sided
• Rigid Flex

Geographical Study Based on Three Major Countries:

• Belgium
  • Belgium was the first industrialized country in Europe. Presently, it is one of the eurozone’s wealthiest countries.
  • By European standards, Belgium has a mid-sized automobile market. The projected sales growth is attributed to new model launches, replacement demand, alternative-energy cars, and modern tech, particularly electric vehicles (EVs) and ‘connected technology.’
  • Flanders is the epicenter of the automotive industry, including operations for Volvo Group, Audi (Germany), Volvo Cars, and a variety of component suppliers.
• Netherlands
• Luxembourg

The major players in the Benelux printed circuit board market are:

• Eurocircuits
• ACB NV (Advanced Circuit Boards)
• NCAB Group AB
• Kovo Electronics BV
• AT&S AG (Austria Technologie & Systemtechnik)

Key strategies adopted by some of these companies:

NCAB Group acquired META Leiterplatten GmbH & CO KG, situated in southern Germany, in December 2021.

In October 2020, LG Innotek unveiled the world’s tiniest Bluetooth module for telecommunications and Internet of Things applications. The AT&S designed and manufactured super-thin PCB substrate (250m) is at the heart of this module.

PCB Connect BV, part of the PCB Connect Group, entered a business integration collaboration with Accent PCB Nederland BV in December 2020.

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