Multilayer Printed Circuit Board Market Research, 2032
The global multilayer printed circuit board market was valued at $71 billion in 2023, and is projected to reach $116.1 billion by 2032, growing at a CAGR of 5.5% from 2024 to 2032.
Multilayer PCB is a type of printed circuit board that consists of more than two conductive copper layers (commonly four or more) separated by insulating layers, known as substrates or prepreg. These layers are typically arranged in a 'sandwich' structure, where multiple double-sided conductive layers are bonded together with insulating layers in between. This design allows complex circuit configurations and increased component density, making multilayer PCBs essential for modern electronic devices.
Multi-layer PCBs are integral to a wide variety of electronic applications. In consumer electronics, they enable compact designs with high component density, powering products such as smartphones, tablets, gaming consoles, and wearables. Their role is crucial in creating sleek, portable devices that are used daily. In telecommunications, multi-layer PCBs facilitate the efficient transmission of voice, data, and video signals, ensuring reliable communication across networks. Industrial control systems rely on multi-layer PCBs for managing complex control systems, automation, & monitoring, supporting applications such as machine control panels, robotics, and industrial automation. In medical devices, multi-layer PCBs ensure precision, reliability, and compactness, playing a vital role in diagnostic equipment, patient monitoring systems, and life-saving devices.
Key Takeaways:
- On the basis of layer, the Layer 4 to 6 segment dominated the Multilayer printed circuit board market size in terms of revenue in 2023. However, the Layer 6 and Above segment is anticipated to grow at the fastest CAGR during the forecast period.
- On the basis of Substrate, the rigid segment dominated the Multilayer printed circuit board market size in terms of revenue in 2023. However, the Flexible segment is anticipated to grow at the fastest CAGR during the forecast period.
- On the basis of End Use Industry, the Consumer Electronics segment dominated the Multilayer printed circuit board market size in terms of revenue in 2023. However, the Healthcare segment is anticipated to grow at the fastest CAGR during the forecast period.
- Region wise, Asia- Pacific generated the largest revenue in 2023. However, LAMEA is anticipated to grow at the highest CAGR during the forecast period.
The multilayer printed circuit board market is expected to witness notable growth owing to increasing demand for electronic devices, surge in industrial automation and rise in demand for high-speed data transmission. Moreover, increase in investment in healthcare technologies is expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary, high initial investment limits the multilayer printed circuit board market growth.
Segment Overview
The Multilayer printed circuit board market is segmented on the basis of layer, substrate, end use industry, and region.
On the basis of layer, the market is divided into layer, the market is divided into layer 4-6 and layer 6 above. In 2023, layer 4-6 segment dominated the market in terms of revenue. Moreover, the layer 6 above segment is projected to have the highest CAGR during the forecast period.
By substrate, the market is segregated into rigid, flexible, and rigid flex. In 2023, a rigid segment dominates the market in terms of revenue. Moreover, a flexible segment is expected to manifest the highest CAGR during the forecast period.
On the basis of end use industry, the multilayer printed circuit board market share is classified into industrial electronics, healthcare, aerospace & defense, automotive, IT & telecom, consumer electronics, and others. In 2023, the consumer electronics segment dominated the market in terms of revenue. However, the healthcare segment is expected to manifest the highest CAGR during the forecast period.
On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific, specifically China, is a dominating region in the Multilayer printed circuit board market with a CAGR of 5.34% due to its robust electronics manufacturing ecosystem, availability of skilled labor, and cost-effective production facilities. The region benefits from high demand for consumer electronics, automotive components, and industrial equipment, alongside significant investments in 5G infrastructure and the increasing penetration of IoT and smart devices, which drives the growth of the Multilayer printed circuit board industry in Asia-Pacific region.
Competitive Analysis
Competitive analysis and profiles of the major Multilayer Printed Circuit Board market players, such as TTM Technologies, Inc., Unimicron, Shenzhen Kinwong Electronic Co., Ltd., Compeq Co., Ltd., MEKTEC CORPORATION, Shennan Circuits Company Limited, Fujikura Ltd., Technotronix.us, Jiangxi Redboard Technology Co., Ltd., AT&S Austria Technologie & Systemtechnik Aktiengesellschaft, Genus Electrotech Ltd, BCC FUBA INDIA Ltd, Sahasra electronics pvt ltd, Sanmina-SCI Corp., PCB Power Limited, Shogini Technoarts, Hi-Q Electronics Pvt. Ltd, AS & R Circuit India Pvt Ltd, Ascent Circuits Private Limited are provided in this report. Product launch, partnership, and acquisition business strategies were adopted by the major market players in 2023.
Market Dynamics
Surge in trend of industrial automation
Surge in trend of industrial automation drives the growth of the multilayer printed circuit board (PCB) market. As industries adopt more automated systems for manufacturing, monitoring, and control, the demand for reliable and high-performance PCBs increases. Multilayer PCBs play a crucial role in supporting complex electrical circuits required for automated machines, robotics, and control systems. These PCBs offer higher component density reduced signal interference, and the ability to integrate more functionalities in a compact form, which is essential for the efficiency and reliability of automated processes. With industries moving toward smart factories and automated workflows, the need for multilayer PCBs in industrial control systems continues to rise, fostering market growth.
High manufacturing costs
The high manufacturing costs associated with multilayer printed circuit boards (PCBs) act as a restraint in their widespread adoption. Multilayer PCBs require sophisticated materials and complex manufacturing processes, which result in higher production costs compared to single-layer PCBs. The increased number of layers, advanced design requirements, and precision involved in their fabrication contribute to the overall expense. In addition, testing, quality control, and assembly processes for multilayer PCBs are more resource-intensive, adding to the cost burden. As a result, industries with tight budgets or those operating in cost-sensitive sectors may opt for simpler PCB designs, limiting the growth of the multilayer PCB market in such regions and applications.
Rollout of 5G networks and the need for high-speed data transmission
The expanding telecommunications infrastructure, particularly the rollout of 5G networks and the need for high-speed data transmission, presents significant opportunities for the multilayer printed circuit board (PCB) market. Multilayer PCBs are critical components in telecom equipment, including routers, switches, base stations, and signal processing units. These devices require PCBs that can handle high-frequency signals, provide efficient power distribution, and ensure minimal signal loss over long distances. With the growing demand for faster and more reliable communication networks, especially with the advent of 5G technology, the need for advanced multilayer PCBs will rise. This creates a lucrative opportunity for manufacturers to meet the increasing demand for high-performance and high-density circuit boards in the telecom sector.
Historical data and information
The Multilayer printed circuit board market is highly competitive, owing to the strong presence of existing vendors. Vendors of Multilayer printed circuit boards with extensive technical and financial resources are expected to gain a competitive advantage over their competitors as they cater to market demands. The competitive environment in this market is expected to rise as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Recent Developments in Multilayer printed circuit board Industry
In September 2023, Shenzhen Kinwong Electronic Co., Ltd. opened a new production base in Thailand with investment of $96 million. Through this plant, itservesits productsto the diverse range of goodssuch as auto electronics, telecoms equipment, industrial controlsystems, medical gear, and consumer electronics.
In February 2022, Compeq Co., Ltd. opened new production lines at its plantsin Taoyuan by investing $79.6 million. Furthermore, it plansto implement a green energy procurement program and install high-efficiency water recycling equipment at its plants as part of its commitment to sustainable manufacturing.
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 2023 to 2032 to identify the prevailing multilayer printed circuit board market opportunity.
- 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 multilayer printed circuit board market forecast, multilayer printed circuit board market outlook.
- 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 Advanced PCBsgrowth strategies.
Multilayer Printed Circuit Board Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 116.1 billion |
 Growth Rate | CAGR of 5.5% |
 Forecast period | 2023 - 2032 |
 Report Pages | 385 |
 By Layer |
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 By Substrate |
|
 By End Use Industry |
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 By Region |
|
 Key Market Players | Sanmina-SCI Corp., Shennan Circuits Company Limited, Unimicron, PCB Power Limited, Shogini Technoarts, AT&S Austria Technologie & Systemtechnik Aktiengesellschaft, AS & R Circuit India Pvt Ltd, MEKTEC CORPORATION, Shenzhen Kinwong Electronic Co., Ltd., Genus Electrotech Ltd, Technotronix.us, Hi-Q Electronics Pvt. Ltd, BCC FUBA INDIA Ltd, Fujikura Ltd., TTM Technologies, Inc., Compeq Co., Ltd., Jiangxi Redboard Technology Co., Ltd., Ascent Circuits Private Limited, Sahasra Electronics Pvt Ltd |
The rise of miniaturization and high-density interconnects (HDI) for compact devices, increased adoption of flexible and rigid-flexible PCBs in wearables and medical devices, are the upcoming trends of Multilayer Printed Circuit Board Market in the globe
Consumer electronics is the leading application of Multilayer Printed Circuit Board Market?
Asia-pacific is the largest regional market for Multilayer Printed Circuit Board
In 2023, $71 billion was the the estimated industry size of Multilayer Printed Circuit Board
TTM Technologies, Inc., Unimicron, Shenzhen Kinwong Electronic Co., Ltd., Compeq Co., Ltd., MEKTEC CORPORATION, Shennan Circuits Company Limited, Fujikura Ltd., Technotronix.us, Jiangxi Redboard Technology Co., Ltd., AT&S Austria Technologie & Systemtechnik Aktiengesellschaft are the top companies to hold the market share in Multilayer Printed Circuit Board
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