Global Multilayer Printed Circuit Board Market Size, Share, Growth Analysis, By Product(Rigid PCBs, Standard multilayer), By Substance(Rigid, Flexible), By Type(FR-4, FR-4 high Tg) - Industry Forecast 2024-2031

Global multilayer printed circuit boards market was valued at USD 83.38 billion in 2022 and is expected to grow from USD 88.12 billion in 2023 to reach USD 137.09 billion by 2031, at a CAGR of 5.68% during the forecast period (2024-2031).

Multilayer printed circuit boards (PCBs) are gaining widespread recognition due to their myriad technical advantages, including compact size, lightweight construction, high quality, enhanced durability, flexibility, and streamlined connectivity. These attributes perfectly address the demand for compactness and lightweight design in modern electronic devices like smartphones and computers. These PCBs find extensive use across various sectors, including electrical devices, military equipment, healthcare miniaturization, and the burgeoning market for smart devices integrated into home automation systems. By incorporating multiple layers into a single board, they amplify functionality while maintaining a compact footprint. Their inherent electrical properties enable high capacity and speed, making them indispensable for manufacturers seeking efficient and powerful electronic solutions. Moreover, their adaptability allows for production in both rigid and flexible configurations. However, despite their numerous advantages, challenges such as higher service costs and the complexity associated with compacting multiple boards can hinder the growth of the multilayer PCB market. The global multilayer printed circuit boards (PCBs) market is currently witnessing a transformative phase, driven by various trends and dynamics. The increasing demand for advanced electronics across industries like telecommunications, automotive, healthcare, and consumer electronics is fueling market growth. The proliferation of connected devices, IoT applications, and the transition to 5G technology further propel the demand for sophisticated multilayer PCBs that offer enhanced functionality within limited space. The automotive industry is a significant contributor to market expansion, with the integration of electronics in vehicles ranging from infotainment systems to advanced driver-assistance systems (ADAS). Notably, there is a shift towards high-frequency materials to facilitate increased data transfer rates, reduced signal loss, and overall improved performance. The demand for flexible and rigid-flex PCBs is also on the rise, particularly for applications requiring compact and bendable circuitry. In this dynamic landscape, key market players are focusing on technological advancements, product innovations, and strategic collaborations to maintain a competitive edge. However, challenges such as design complexity, miniaturization requirements, and environmental concerns related to electronic waste pose considerations for industry stakeholders. Overall, the global multilayer PCBs market is poised for sustained growth, driven by the continuous evolution of electronic devices, the expansion of 5G and IoT applications, and the pivotal role of multilayer PCBs in enabling the development of advanced electronic systems across diverse industries worldwide.

Top-down and bottom-up approaches were used to estimate and validate the size of the global multilayer printed circuit boards market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Multilayer Printed Circuit Boards Market Segmental Analysis

Global multilayer printed circuit board market is segmented based on product, substance, laminate material, end user and region. By 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 segmented into rigid, flexible, and rigid-flex. By laminate, the market is segmented into FR-4, FR-4 high Tg, FR-4 halogen free, standard & others, flexible (pi,pet), paper, composites, others. By end use, the market is segmented into IT & telecommunication, consumer electronics, industrial electronics, automotive, aerospace and defence, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Multilayer Printed Circuit Boards Market

The surge in the usage and demand for electronic devices like smartphones, laptops, and smart televisions worldwide is a primary driver fueling the growth of the printed circuit board (PCB) market, particularly the multilayer segment. Automated machinery and cell towers play a crucial role in meeting the escalating demand for these indispensable gadgets. The increasing global population has led to a widespread adoption of electronic devices, contributing to a surge in the demand for printed circuit boards. These devices are not only prevalent in households but also find extensive use in aerospace, military, and various government institutions, where they are essential for ensuring optimal efficiency. This widespread adoption across diverse sectors is expected to further bolster the growth of the multilayer printed circuit board market.

Restraints in the Global Multilayer Printed Circuit Boards Market

The manufacturing, design, and depaneling costs are significant factors in the production of multilayer printed circuit boards, often leading to higher expenses. This higher cost aspect encourages the utilization of cheaper alternatives by major electrical device manufacturers. Additionally, the production time required for multilayer printed circuit boards is considerably longer compared to traditional single or double-layer PCBs, further contributing to the overall cost of the final product.

Market Trends of the Global Multilayer Printed Circuit Boards Market

The introduction of AI, IoT, and 5G technologies is expected to significantly drive the growth of multilayer PCBs. In today's digitized era, these technological advancements represent major trends, closely aligned with the need to transmit, transfer, manage, and process vast amounts of data efficiently. The integration of AI, IoT, and 5G relies on seamless communication with minimal latency, a requirement that can be effectively addressed with the utilization of multilayer PCBs.