Multilayer Printed Circuit Board Market

The market size of Multilayer Printed Circuit Boards (PCBs) reached USD 78.9 billion in 2021 and is projected to grow from USD 82.36 billion in 2022 to USD 128.5 billion by 2030, with a compound annual growth rate (CAGR) of 5.68% during the forecast period (2023-2030).

Multilayer Printed Circuit Boards are gaining popularity due to their numerous technical advantages, including small size, lightweight construction, high quality, increased durability, enhanced flexibility, and the ability to create more powerful single connection points. The demand for compact and lightweight solutions in smartphones and computers is effectively addressed by utilizing multilayer printed circuit boards.

These boards find applications in various sectors, such as electrical devices, military equipment, healthcare miniaturization, and the expanding market for smart devices integrated into home automation systems. By incorporating multiple layers within a single printed circuit board, these boards enhance functionality. They possess inherent electrical properties that enable high capacity and high-speed performance in a smaller form factor. Manufacturers find it convenient to produce PCBs with both rigid and flexible constructions.

However, the higher cost of availability and the compactness of multiple boards pose challenges to the growth of the multilayer printed circuit board market.

Global Multilayer Printed Circuit Board Market Segmental Analysis

The Multilayer Printed Circuit Board market is categorized based on product, substance, laminate material, end user, and region. In terms of product, the market is segmented into Rigid PCBs, Standard multilayer, HDI/build-up/microtia, Flexible circuits, IC substrate, and Others. By substance, the market is divided into Rigid, Flexible, and Rigid-flex. The laminate segment includes FR-4, FR-4 high Tg, FR-4 halogen-free, Standard & Others, Flexible (PI, PET), Paper, Composites, and Others. The end-use segment covers IT & Telecommunication, Consumer Electronics, Industrial Electronics, Automotive, Aerospace and Defence, and Others. Regionally, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis by Product in the Multilayer Printed Circuit Board Market

The global market is further analyzed based on various product segments, including Rigid PCBs, Standard multilayer, HDI/build-up/microtia, Flexible circuits, IC substrate, and Others. The PCB segment holds the largest market share in the Multilayer Printed Circuit Board market, primarily due to the wide range of benefits offered by Multilayer Printed Circuit Boards in electronic devices. The HDI/build-up/microtia segment is expected to witness the fastest growth during the forecast period. This is attributed to the properties of PCBs, such as high-density interconnect, which enables the manufacture of circuit boards with multiple layers and alternative options. The increased density provided by these advanced boards over traditional circuit boards improves technology and drives market growth.

Global Multilayer Printed Circuit Board Market Regional Insights

The Asia Pacific region is projected to dominate the global Multilayer Printed Circuit Board market, primarily due to the presence of key market players and the increasing application of printed circuit boards in various electronic devices. The region benefits from a large number of producers in Asia Pacific and other countries.

Furthermore, North America is expected to exhibit the highest growth rate during the forecast period. This can be attributed to the growing adoption of Multilayer Printed Circuit Board technology in various devices, particularly in the United States and Canada. The penetration of mobile and other electronic devices in North America has significantly increased in recent years. Additionally, major companies are making substantial investments to offer high-end services at affordable prices to consumers, which is expected to drive the demand for Multilayer Printed Circuit Boards in the region.

Global Multilayer Printed Circuit Board Market Dynamics

Multilayer Printed Circuit Board Market Drivers

Increasing Popularity of Smartphones to Bolster Market Growth

• The global demand for electronic gadgets such as smartphones, laptops, and smart televisions has experienced significant growth, driving the expansion of the printed circuit board market. The usage of multilayer printed circuit boards plays a vital role in this era of essential gadgets, particularly in automated machinery and cell towers. The increasing global population has led to a widespread adoption of electronic devices, not only for household purposes but also in aerospace, military, and government institutions, where efficiency is crucial. This trend is expected to fuel the growth of the multilayer printed circuit board market.

Multilayer Printed Circuit Board Market Restraints

High Cost to Hinder Market Growth

• However, there are certain restraints that can hinder the market growth, primarily related to the high cost involved in manufacturing, designing, and depaneling multilayer printed circuit boards. The cost of these boards tends to be higher compared to cheaper alternatives used by major electrical device manufacturers. Additionally, the production time for multilayer printed circuit boards is longer compared to traditional single or double layer boards, which also contributes to the overall cost of the final product.

Global Multilayer Printed Circuit Board Market Competitive Landscape

During the forecast period, the global Multilayer Printed Circuit Board market is anticipated to witness heightened competition due to the entry of new players and an increase in the number of devices compatible with Multilayer Printed Circuit Boards. At present, only a limited number of key players offer their services in the global market, but this landscape is expected to change in the coming years as the market attracts more participants.

Multilayer Printed Circuit Board Market Top Player’s Company Profiles

• Sumitomo Electric Industries
• Nippon Mektron Ltd.
• Compeq Manufacturing Co. Ltd.
• Amphenol
• ZD Tech
• TTM Technologies Inc.
• TE Connectivity
• Unimicron Technology Corporation
• Molex
• AT&S
• Hon Hai Precision Industry Co., Ltd.
• Sumitomo Denko
• Wurth elektronik group (Wurth group)
• Becker & Muller Schaltungsdruck GmbH
• Advanced Circuits Inc
• Murrietta Circuits
• Zhen Ding Technology Holding Limited
• Tripod Technology Corporation.

Multilayer Printed Circuit Board Market Recent Developments

• In September 2022, The establishment of ""Würth Elektronik CBT International GmbH"" was announced by Würth Elektronik Circuit Board Technology Group. The major objective of the new business division is to strengthen and expand the company's position on global markets, particularly in Europe.

Global Multilayer Printed Circuit Board Key Market Trends

• Introduction of AI, IoT and 5G will tremendously help the growth of multilayer PCB.In this today is digitized era,the use of 5G,AI,is the major trend and these trends go hand in hand with the ability to transmit, transfer, manage and process massive amounts of data. In a short space of time with low latency problems that can be fixed with the help of multilayer PCB.