The global PCB market is expected to recover in 2024

According to the latest research report from the Institute of Obstetrics and Technology, Taiwan Industrial Research Institute, the global printed circuit board (PCB) market is about to recover after experiencing a contraction in 2023. The report pointed out that global PCB output value in 2023 will be approximately US$73.9 billion, a decrease of 15.6% from the previous year. However, looking forward to 2024, the market is expected to rebound strongly, with output value expected to rebound to US$78.2 billion, with an annual growth rate of 6.3%. This change indicates that the market is recovering from short-term challenges and showing new growth momentum.

The International Institute of Obstetrics and Commerce of Taiwan Industrial Research Institute further analyzed the key development trends of the global PCB industry in 2024. The Taiwan Circuit Board Association (TPCA) and the Industrial Technology Research Institute of Taiwan (ISTI) jointly pointed out four key issues: First, the competition launched by countries/regions around the world to strengthen the semiconductor industry will have an impact on PCB and carrier boards. The ecosystem has an important impact; secondly, with the advent of carbon-neutral electronic products, the pressure on the supply chain to reduce carbon will increase significantly; thirdly, the supply chain is accelerating its shift to a global layout, and new PCB clusters are gradually taking shape in Southeast Asia. ; Fourth, the continuous iteration and updating of product specifications will become the main driving force for market growth.

The industry has generally expected that the market inventory adjustment of the PCB industry will stabilize by 2024, followed by the gradual recovery of the mobile phone, PC/NB and consumer product markets. In addition, continued demand in areas such as electric vehicles, AI servers, traditional servers and satellite communications has also provided strong support for the recovery of the PCB market. It is particularly noteworthy that server boards and automotive boards have become the two fastest growing areas.

Regarding the future of the industry, Xinxing Chairman Zeng Zizhang once said when talking about the industry that the overall market should show signs of recovery in 2024, especially in June and July. Although short-term factors such as the Palestinian-Israeli war will have a certain impact, This has led to a pause in demand from some customers, but overall, the industry is expected to see a clear recovery trend in the second quarter of 2024. Zeng Zizhang also mentioned that although the downturn in the PCB industry is longer than expected, most people agree that there will be more signs of recovery next year. Judging from market conditions and customer demand, industry performance in 2025-2026 is expected to be stronger. This prediction not only brings a glimmer of hope for the future of the PCB industry, but also provides a clear market direction for related companies.