Multilayer Printed Circuit Board Market Research, 2032
The Global Multilayer Printed Circuit Board Market was valued at $88.1 billion in 2023, and is projected to reach $144.7 billion by 2032, growing at a CAGR of 5.7% from 2024 to 2032.
Market Introduction and Definition
A multilayer printed circuit board (PCB) is an advanced type of circuit board used in various electronic devices to increase the available area for wiring through multiple layers of conductive copper pathways and insulating materials. Unlike traditional single-layer PCBs, multilayer PCBs stack several independent circuit layers through sophisticated lamination processes. Each layer is separated by heat-protective insulating materials, usually epoxy or phenolic resin, which prevents the layers from short-circuiting. The individual circuits on different layers are connected through vias, which are tiny holes drilled into the layers that are filled with conductive materials. These boards are crucial for complex electronics as they accommodate more circuits in a compact space, enhance signal integrity, and improve noise reduction. Multilayer PCBs are widely used in applications such as smartphones, computers, medical equipment, and automotive components, where space is limited and performance requirements are high.
Key Takeaways
The multilayer printed circuit boards market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major multilayer printed circuit board industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions & analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
Industry Trends:
In January 2023, the European Union unveiled its Multilayer PCB Development Initiative, allocating funding to support the expansion of multilayer PCB manufacturing capabilities across member states. The initiative aims to enhance Europe's competitiveness in advanced electronics manufacturing and reduce dependency on imports.
In November 2022, South Korea's Ministry of Science and ICT (MSIT) launched the Multilayer PCB Technology Roadmap, outlining targets for R&D investment to propel the country's PCB industry forward. The roadmap emphasizes the importance of developing eco-friendly manufacturing processes and high-performance materials to meet the surge in demand for advanced PCBs globally.
The push toward miniaturization continues to be a major driver in the PCB industry. High-density interconnect (HDI) technology, which allows more circuitry in a smaller area, is particularly significant. This technology supports the trend toward smaller electronic devices and enhances the performance of these devices by improving electrical properties and signal integrity.
An increased focus on environmentally friendly PCB manufacturing processes has been witnessed. This includes reducing the use of hazardous materials and improving recycling processes to address the global challenge of electronic waste.
Key market dynamics
The global multilayer printed circuit boards (PCBs) market growth is propelled by several key drivers, including the increase in demand for electronic devices across various industries such as telecommunications, automotive, and consumer electronics. In addition, rise in adoption of advanced technologies such as Internet of Things (IoT) , artificial intelligence (AI) , and 5G networks has fueled the need for more complex and high-performance PCBs. Moreover, the trend toward miniaturization and lightweight designs in electronic devices boosts demand for multilayer PCBs due to their compact size and enhanced functionality. However, one significant restraint faced by the market is the high initial investment required for setting up multilayer PCB manufacturing facilities, which discourage new entrants and small-scale manufacturers from entering the market . Despite these challenges, there is a favorable opportunity for market growth in the form of the rapidly expanding electric vehicle (EV) market. With increase in focus on sustainability and environmental concerns, the demand for EVs is rising, thereby driving the need for advanced multilayer PCBs for vehicle electronics and battery management systems. Hence, manufacturers investing in research and development to innovate cost-effective and efficient production processes for multilayer PCBs stand to capitalize on this growing opportunity in the automotive sector.
Patent Analysis of Global Multilayer Printed Circuit Board Market
The global multilayer printed circuit board market is segmented according to the patents filed in Japan, China, U.S., PCT, European Patent Office, Republic of Korea, Russian Federation, UK, Canada, and Germany. Japan leads in patent filings for multilayer printed circuit boards due to its advanced electronics industries and strong technological infrastructure. Home to major electronics companies, this country prioritizes innovation and supports extensive research and development efforts, backed by both government policies and significant investments. This focus drives advancements in PCB technology, enhancing features essential for modern electronics, such as density, reliability, and performance. Therefore, Japan regions have maximum number of patent filings.
Market Segmentation
The multilayer printed circuit board market is segmented into layer, substrate, end-use industry, and region. On the basis of layer, the market is bifurcated into Layer 4-6 and Layer 6+. On the basis of substrate, the market is divided into Rigid, Flexible, and Rigid-Flex. As per end-use industry, the multilayer printed circuit board industry is segregated into industrial electronics, healthcare, aerospace & defense, automotive, it & telecom, consumer electronics, and others. Region wise, the multilayer printed circuit board industry is analyzed across North America, Europe, Asia-Pacific, LAMEA.
Regional/Country Market Outlook
According to the multilayer printed circuit board market insights, Asia-Pacific dominates the global multilayer PCB market, driven by technological advancements and the presence of major electronics manufacturing hubs in China, South Korea, and Taiwan. China holds the largest multilayer printed circuit board market size by country. The region held the largest market share, accounting for 47% of the global PCB market as of 2022. This dominance is supported by robust manufacturing infrastructure and significant investments in electronics production. For instance, in May 2024, China announced ambitious plans to further expand its energy storage capacity, excluding pumped hydro, aiming to install over 30 GW by 2025, reflecting its commitment to integrating advanced technologies in various sectors including PCB manufacturing.
In the U.S., the PCB market is influenced by technological advancements and legislative support such as the Inflation Reduction Act passed in August 2022, which includes tax incentives for manufacturing sectors including PCBs. This act is expected to enhance the competitiveness of the PCB industry by reducing costs and encouraging technological upgrades and sustainability in production processes.
On the basis of multilayer printed circuit board market data countries such as India are also notable players in the PCB market. India's draft National Electricity Plan of September 2022 outlines ambitious targets for the electronics sector, including substantial enhancements in PCB manufacturing capabilities, aiming for an installed capacity of 51 to 84 GW by 2031-32.
Competitive Landscape
According to the latest, multilayer printed circuit board market forecast, the major multilayer printed circuit board manufacturers or the multilayer printed circuit board company list include Sumitomo Electric Industries, Ltd., Nippon Mektron, Ltd., Compeq Manufacturing Co., Ltd., Amphenol ZD Tech, TTM Technologies, Inc., TE Connectivity Ltd., Unimicron Technology Corporation, Molex, LLC, AT&S Austria Technologie & Systemtechnik AG, Hon Hai Precision Industry Co., Ltd. Among these multilayer printed circuit board manufacturers Sumitomo Electric Industries, Ltd. leads the multilayer printed circuit board market share by companies.
Recent Key Strategies and Developments
In 2024, Molex introduced the Silver Flex Solutions, a flexible printed circuit alternative that allows the printing of multiple layers and the attachment of SMT components on a polyester (PET) substrate. This development offers a more cost-effective and flexible substrate alternative to traditional flat copper products, enhancing the possibilities within the PCB market.
In 2023, TE Connectivity continued to innovate in the field of printed electronics, aiming to revolutionize electronic device manufacturing through new printing methods. These advancements provide an eco-friendly, agile, and cost-effective way to enhance innovation and production efficiencies in the electronics sector, particularly in creating more sustainable and connected technologies.
In 2023, Nippon Mektron enhanced its manufacturing capabilities by deploying Orbotech direct imaging (DI) and automated optical inspection (AOI) systems across multiple factories. This technological upgrade is aimed at improving the production of flexible printed circuit boards, specifically to boost flex inspections and high-throughput production, significantly enhancing current and future smartphone manufacturing.
In 2023, Sumitomo Electric Industries was involved in collaborative efforts to enhance productivity at factories using Private 5G, industrial 5G terminals, and AI-based video compression and analysis. This initiative was part of their broader strategy to integrate more advanced technologies into their manufacturing processes.
The multilayer printed circuit board (PCB) market is experiencing significant growth, driven by advancements in electronics and increasing demand for compact and efficient devices. A comprehensive Multilayer Printed Circuit Board Company List highlights key players such as TTM Technologies, Nippon Mektron, and Unimicron. According to the latest Multilayer Printed Circuit Board Industry Report, the sector is poised for continued expansion, with robust growth expected in various regions. Detailed Multilayer Printed Circuit Board Sector Analysis reveals that innovation in multilayer PCB designs and manufacturing techniques is critical for meeting market demands. The Multilayer Printed Circuit Board for US Market shows a strong focus on high-performance and durable PCBs for applications in telecommunications, aerospace, and consumer electronics. Furthermore, the development of advanced multilayer PCB printers is revolutionizing the production process, enabling more precise and cost-effective manufacturing of multilayer PCBs.
Key Sources Referred
IEEE (Institute of Electrical and Electronics Engineers)
Printed Circuit Board Association of America (PCBAA)
IPC International
TechSearch International
Frost & Sullivan
IDTechEx
Global Industry Analysts, Inc.
SMTA (Surface Mount Technology Association)
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the multilayer printed circuit board market analysis from 2024 to 2032 to identify the prevailing multilayer printed circuit board market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the multilayer printed circuit board market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global multilayer printed circuit board market trends, key players, market segments, application areas, and market growth strategies.
Multilayer Printed Circuit Board Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 144.7 Billion |
 Growth Rate | CAGR of 5.7% |
 Forecast period | 2024 - 2032 |
 Report Pages | 300 |
 By Layer |
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 By Substrate |
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 By End Use Industry |
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 By Region |
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 Key Market Players | Nippon Mektron, Ltd., AT&S Austria Technologie & Systemtechnik AG, Sumitomo Electric Industries, Ltd., TE Connectivity Ltd., Hon Hai Precision Industry Co., Ltd., Molex, TTM Technologies, Inc., Compeq Manufacturing Co., Ltd., Unimicron Technology Corporation, Amphenol ZD Tech |
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