The substrate-like PCB market is projected to reach US$ 4,718.6 million by 2028 from US$ 1,494.9 million in 2021; it is expected to grow at a CAGR of 17.8% from 2021 to 2028.
The substrate-like PCB market is expanding due to the growing popularity of these components among original equipment manufacturers (OEMs), smart consumer electronics, and wearable devices. The demand for effective connectivity solutions and the trend towards miniaturization are also contributing to market growth. The current market is largely dependent on the sales of high-end smartphones. There is a growing focus on reducing the size of electronic packaging to reduce power consumption and enhance functionality, which is pushing the demand for substrate-like PCBs. Traditional printed circuit boards (PCBs) cannot handle the need for miniaturized components to be organized in a small space, leading to increased demand for substrate-like PCBs. The growing market for consumer electronics, such as smartphones, tablets, smart bands, fitness bands, and wearables, is driving the global substrate-like PCB market. The increasing adoption of substrate-like PCBs by smartphone manufacturers, such as Apple and Samsung, and investment in product development by key players are further supporting market growth.
The COVID-19 pandemic caused major manufacturing centers, including China, to halt production of substrate-like PCBs in early 2020, causing disruptions in the demand-supply balance and affecting prices globally. Europe presents substantial growth potential for the adoption of substrate-like PCBs due to high individual purchasing power and advancements in technologies such as 5G and IoTs. However, the COVID-19 outbreak caused a significant decrease in the production of PCB devices in Europe, along with challenges for the automotive and other industries until mid-2021. Additionally, disruptions in raw material and electronic component supply from China have further exacerbated the global manufacturing difficulties. These factors are expected to have a direct impact on the growth of the substrate-like PCB market in Europe and worldwide.
The substrate-like PCB market is divided into line/space, inspection technologies, application, and geography segments. In 2021, the 25/25 and 30/30 ?m line/space segment dominated the market, while the automated optical inspection inspection technology segment had the largest market share. The consumer electronics application held the largest share of the market in 2021, while the Asia Pacific region accounted for a significant portion of the global market.
The global substrate-like PCB market features key players such as AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, Compeq Co., Ltd., DAEDUCK ELECTRONICS Co., Ltd., IBIDEN, KINSUS INTERCONNECT TECHNOLOGY CORP, Korea Circuit, SAMSUNG ELECTRO-MECHANICS, TTM Technologies Inc., Unimicron, and Zhen Ding Tech. Group Technology Holding Limited.
The market size of substrate-like PCBs was determined through a combination of primary and secondary sources. A thorough secondary research was conducted using internal and external sources to gather both qualitative and quantitative information about the market. This research provided an overview and forecast of the substrate-like PCB market across all segments. Primary interviews were also conducted with industry experts and commentators, including industry VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders, to validate the data and gain deeper insights into the market. These participants specialize in the substrate-like PCB market.