The printed circuit board is a board which is used for connecting components with metal tracks such as copper in place of wires. In the circuit board, holes are drilled to fix the electronic components such as transistors, amplifier, resistors etc. in position to electrically connect and mechanically support electronic components. To secure the components position, they are soldered and linked with copper tracks which all together form a circuit.

Global Printed Circuit Board market is anticipated to grow with 3.47% CAGR during the forecast period of 2018-2026. The base year considered for the study is 2017 and the estimated period is between 2018 and 2026. Key factors that are responsible for the market advancement are:

• Rising demand for smart electronics
• Growing applications of semiconductors
• Rising use of electronics in diverse applications
• The explosive rise in internet usage
• Augmented demand for eco-friendly printed circuit boards

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However, the crucial factors that are contributing towards the growth of printed circuit board market are increasing demand of smart devices, expanding semiconductor market, growing demand for utility electronics, increasing internet penetration and augmented demand of eco-friendly PCB’s due to increased electronic waste. Several other factors such as growing demand in consumer electronics, technologically advanced healthcare devices and automation in the industries are also driving the printed circuit board market. The key market opportunities include the growth of the wearable device market and internet of things (IoT) market.

In case of application segment, the communications sector held the largest share of around XX% in 2017. PCB acts as a backbone for all the digital devices. PCB in the communication segment is used in all the digital devices of communication networks such as mobiles, switching system, power distribution system, networking equipment, routers, amplifiers etc. In all these devices, PCBs are used to electrically connect all the electronic component and provide a base on which the whole system can be integrated. PCBs in mobiles can broadly be classified into two sections namely: network section comprising of an antenna point, antenna switch, network ICs; and the power section that comprises of power IC, CPU, Flash IC etc. The global rise in the telecom sector is driving the communication market of PCB. Also, the adoption of 3G, 4G and wireless networks have given a huge boost to the communication sector.

With the growing demand of PCB’s from numerous end-user industries, printed circuit board market is also facing some restraints like competitive pricing and volatility in raw material pricing and regulations on e-waste. Additionally, the major challenges faced by the market include changes in raw material supply and rising competition at regional and national level. These restraints and challenges are highly influencing the market adversely.

The global Printed Circuit Board market has been segmented on the basis of raw materials, substrate, & application as follows:-

Market by Raw Materials:

• Epoxy Resin
• Glass Fabric
• Phenolic Resin
• Kraft Paper
• Other Raw Materials

Market by Substrate:

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

Market by Applications:

• Communications
• Consumer Electronics
• Industrial Electronics
• Automotive
• Military
• Other Applications

On the basis of geography, the global printed circuit board market has been segmented into four major regions;

• North America: the United States & Canada.
• Europe: United Kingdom, France, Germany, Italy, Nordic Countries (Sweden, Denmark, Finland) & Rest of Europe.
• Asia Pacific: China, India, Japan, South Korea, & Rest of Asia Pacific.
• Rest of world: Latin America, Middle East & Africa.

The regional paradigm of PCB market is dominated by the Asia Pacific region and is expected to surge with the fastest growth rate during the forecasted period as well. The market growth in the region is backed by rising penetration of smart devices, a significant development in automobile industries, growing demand for consumer electronics, growing semiconductor market and rising focus on infrastructure development in emerging countries of Asia Pacific, such as Japan, South Korea, India and China. The increasing semiconductor market in Asia-Pacific strengthens the demand of PCB market. The military & defence sectors of the Asia Pacific countries will spend $xx billion by 2020, which is also anticipated to boost the market.

Global printed circuit board market is segmented on the basis of raw materials, such as epoxy resin, glass fabric, phenolic resin, kraft paper & other raw materials. Further, the market is by applications is segmented into communications, consumer electronics, industrial electronics, automotive, military & other applications. The market is also segmented on the basis of substrates. Substrates segment includes standard multilayer, flexible circuits, high density interconnect (HDI), IC, rigid 1-2 sided & rigid flex.

The key companies operating in the global printed circuit board market are:

• TTM Technologies
• Compeq Manufacturing Co. Ltd.
• Unimicron Technology Corporation
• AT&S
• others

Company profiles of the prominent market players are discussed in detail. Most of the companies are looking for strategies such as merger & acquisition, partnership, contracts, agreements, and new product launch in order to gain a competitive edge over other companies. For Instance, on 7 July 2016, Oki and Nippon Avionics Co. Ltd. (Avio) entered into an agreement to transfer the Avios printed circuit board business to Oki. The agreement helped the company to expand electronic manufacturing services business by offering a highly reliable printed circuit board. In 2016, Nippon Mektron deployed Orbotech direct imaging (DI) and automated optical inspection (AOI) systems in PCB manufacturing factories. These systems enable flex inspections and high throughput production capability.

Key findings of the global printed circuit board market:

• The growing demand for new technologies in consumer electronics that include myriad of electronic devices such as computers, laptops, television, audio systems etc. has positively influenced the growth of the PCB market.
• Asia Pacific leads the global PCB market by capturing the largest market share of around XX% in 2017. Additionally, Asia Pacific PCB market is anticipated to grow with the highest CAGR of XX% during the forecast period of 2018-2026.
• Epoxy resins in the raw material segment held the largest share of over XX% in 2017 and is expected to grow at the highest CAGR of XX% over the forecasted period of 2018-2026.
• Growing Internet of Things (IoT) market, growing wearable device market, emerging market demands and augmented demand of eco-friendly PCB’s, are projected to create growth prospects for the printed circuit board market over the forecast period.