Market Research Report
Printed Circuit Board Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||866639|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Printed Circuit Board Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: May 1, 2019||Content info: 100 Pages||
The printed circuit board market is expected to register a CAGR of 4.1% during the forecast period 2019-2024. A printed circuit board mechanically supports and electrically connects electronic components through the use of conductive tracks, pads and other features engraved from one or more sheet layers of copper that are laminated onto and between sheet layers of a non-conductive substrate.
Printing Circuit Board is an electronic circuit consisting of thin strips of a conducting material such as copper, which have been etched from a layer fixed to a flat insulating sheet and to which integrated circuits and other components are attached. Cheaper PCBs and perf boards are usually constructed with other materials such as epoxies or phenolics which lack the durability but are much less expensive.
Healthcare is Expected to Hold a Significant Market Share
Printed circuit boards(PCBs) have become critically important in the medical field. Due to the advancement in the technology, more and more medical diagnostic, research and treatment methods have become computerized. This is the reason behind PCBs for medical equipment becoming a standard requirement throughout the industry.
PCBs can be found in various medical fields. From defibrillators, pacemakers, and heart monitors in the case of cardiovascular medical specification PCBs, to medical imaging systems, CT scans, MRIs, ultrasonic equipment and more.
PCBs also find their applications in medical devices like body temperature monitors, blood glucose monitors and electrical muscle stimulation equipment. PCBs for medical equipment are everywhere.
Pharmaceutical industry professionals will also often select flex or rigid-flex PCBs for their critical medical devices. The main reason behind this is that medical devices often do not conform to typical standards of PCB shape and size, and medical device professionals will want to make sure their printed circuit boards can fit into as small of an area as possible while remaining resistant to damage. Due to the growth of the Healthcare sector in the countries, the sales of printed circuit boards have been boosted substantially.
The United States is Expected to Have a Significant Market Share
Flexible printed circuit boards are adopted in a wide array of electronic devices which possess complex circuitry. Besides efficient interconnectivity solutions, flexible PCBs offer other benefits like reduced system maintenance which increases the possibility of their adoption by the manufacturers to improve their product quality.
Although consumer electronics was the major contributor to the revenue of flexible PCBs over the years, consumption by the automotive electronics sector is expected to gather notable momentum during the forecast period, fuelling the sales globally. Demand from the aerospace and defense industry will also remain vital during the forecast period.
The demand for the flexible printed circuit boards by smartphone manufacturers, connectivity antennas, other mobile devices, LCD display, and rechargeable batteries, is currently increasing at a fast pace. With exploding consumer electronics sector, the soaring popularity of IoT, and rising applications in the automotive industry are identified as the key factors that are likely contributing a positive impact on the sales of FPCBs in the near future. Quality performance and great packaging flexibility of flexible PCBs will contribute to their success in the interconnectivity solutions in the future.
A rising trend of disposable electronics will also contribute substantially to market growth over the next few years. FPCB manufacturers are likely to encounter an increased number of opportunities in the healthcare sector. Moreover, high initial costs associated with flexible PCBs will act as a long established barrier to rapid mass adoption of the technology.
Increasing demand for small, flexible electronics will act as a critical trend for the market. The growing use of flex circuits in electronic wearables will have a positive impact on the market. Moreover, materializing interest in foldable or rollable smartphones will create a massive number of opportunities for key market players soon.
The printed circuit board market is highly competitive and consists of several major players. In terms of market share, the market is fragmented due to the presence of a large number of players. The players are getting involved in Research and Development in order to gain a competitive edge and to focus on product innovation.