According to a new market report published by Lucintel, the future of the printed circuit board (PCB) market looks promising with opportunities in the communication, computer/peripheral, and automotive industries. The global printed circuit board market is expected to reach an estimated $72.6 billion by 2022 and is forecast to grow at a CAGR of 3.2% from 2017 to 2022. The major drivers of growth for this market are the strong demand for smart phones and tablets along with growing automation in industries, such as automotive and aerospace & defense.
In this market, rigid 1-2 sided, standard multi-layer, HDI/microvia, IC substrate, flexible circuits, and rigid flex PCB substrates are used in various industries. Lucintel forecasts that standard multilayer PCBs will remain the largest segment due to the growth in computer and communication industry. Lucintel predicts that the demand for rigid flex PCBs is likely to experience the highest growth in the forecast period supported by growing demand for smartphone and display applications.
Within the PCB market, the communication industry is expected to remain the largest market. Continuous innovations in smartphones and increasing demand from emerging economies are expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest and fastest growing region due to the increasing production of electronic components and devices in this region. Asia Pacific and the Rest of the World are expected to witness significant growth over the forecast period because of growth in communication, computer/peripheral, and consumer electronic products propelled by economic expansion, increasing per capita income, and urbanization.