1 Global PCB Laminate Market Outlook
The global PCB Laminate market is projected to exhibit substantial growth in the coming years, with a CAGR of 3.54% from 2024 to 2033, reaching a total market size of $15833.9 million USD in 2024. PCB Laminate is a planar laminate of substrate materials, which is made of corresponding materials under pressure and temperature. It is usually made of wood pulp paper or glass fiber cloth as reinforcing material, impregnated with resin, covered with copper foil on one side or both sides, and made by hot pressing. It is the basic material of the electronic industry.
Figure Global PCB Laminate Market Size and Growth Rate (2024-2033)
2 PCB Laminate Market Growth Drivers and Constraints
PCB laminates are widely used in communication electronics, aviation, defense, automotive, medical and other fields, and can be used in harsh environments. They can be designed to be waterproof, shockproof, and corrosion-resistant. Make products in these fields lighter, electronic components more compact, and more practical. And can meet all the conditions of the circuit board. PCB laminates play a fundamental role in promoting the rapid development of integrated circuits in terms of lightweight, thinning, miniaturization, high performance, multi-function, high reliability, and IC chip performance.
With the development of downstream industries, the market demand for PCB laminates continues to increase. In recent years, under the wave of digital innovation, existing communication facilities, electronic products, automobiles, industrial electronics and other fields are facing earth-shaking changes. The pace of upgrading and upgrading of consumer electronic products has been accelerating, with the rapid development of new energy vehicles, the continuous improvement of the level of the intelligent manufacturing industry, and the continuous improvement of medical equipment. The development of downstream industries and the iteration of products continue to promote the development of the PCB laminate industry.
The COVID-19 pandemic has inevitably impacted the production and operation of enterprises, disrupting the circulation of the industrial chain and negatively affecting the PCB laminate industry as well as the economy of downstream industries. Many countries and regions have implemented measures such as flight suspensions, entry controls, and import restrictions, which have forced some cross-border logistics channels to be interrupted, and many factories to shut down. This has impacted the multinational manufacturing supply chain, with key intermediate products, components, and production equipment required for industrial production in various countries facing a certain risk of “disconnection” on a global scale. The impact of the COVID-19 pandemic on the PCB laminate industry and downstream industries is expected to continue, exacerbating the challenges faced by the industry, including the fluctuation of raw material prices and the rise in labor costs
3 PCB Laminate Market Innovations and M&A Activities
On September 17, 2021, Panasonic Corporation announced the completion of the acquisition of Blue Yonder, a leading end-to-end digital fulfillment platform provider. Panasonic had previously held a 20% stake and has now acquired the remaining 80%, valuing Blue Yonder at USD 8.5 billion. This acquisition accelerates the shared vision of Panasonic and Blue Yonder for an Autonomous Supply Chain™, by integrating Panasonic’s sensing technologies and edge devices with Blue Yonder’s AI/ML-powered planning, execution, and commerce solutions. This integration aims to help companies create smarter and more connected e-commerce strategies, retail stores, warehouses, transportation, and workplaces, providing unlimited visibility, control, and orchestration to pivot operations in real-time, enhance customer experiences, and achieve more profitable business outcomes.
On September 2, 2021, Win Semiconductors Corp (Win Semi), the world’s largest pure-play gallium arsenide foundry, stated it would invest NT$2.12 billion (USD 76.42 million) to increase its stake in ITEQ Corp, with the goal of expanding the partnership between the two companies into 5G infrastructure and autonomous vehicles. Win Semiconductors plans to acquire approximately 16.34 million shares of ITEQ at NT$130 per share through a private placement, which would raise its stake in ITEQ from 12.81% to 17.08%. ITEQ manufactures copper-clad laminates used in printed circuit boards installed in networking devices, consumer electronics, vehicles, and smartphones. The funds raised are part of ITEQ’s NT$6.5 billion fundraising plan, which includes the issuance of 500 million new shares, and are intended to be used to repay bank loans and replenish operating capital.
On May 25, 2022, Doosan Group (Chairman Park Jeong-won) announced its intention to lead the revitalization of Korea’s energy industry ecosystem, including nuclear power plants, by actively investing in next-generation energy businesses such as small modular reactors (SMRs), gas turbines, and hydrogen fuel cells. Doosan plans to invest KRW 5 trillion in energy fields like SMRs, gas turbines, hydrogen turbines, and hydrogen fuel cells over the next five years, with a particular focus on the development of SMRs, which have emerged as one of the pillars of the Korea-U.S. economic and security alliance, as well as semiconductors and batteries following U.S. President Joe Biden’s visit to Korea. SMRs are next-generation nuclear power plants featuring dramatically improved safety, economy, and operability, with U.S.-based NuScale becoming the only company to acquire standard design certification from the U.S. Nuclear Regulatory Commission (NRC) in 2020.
4 Global PCB Laminate Market Analysis by Type
In 2024, the global PCB laminate market is anticipated to showcase a diversified landscape across various substrate types, with specific figures and market share percentages as follows:
Glass Fiber Cloth Substrate is projected to reach a market size of USD 10,282.7 million, capturing a substantial market share of 64.94%.
Paper Substrate is forecasted to have a market size of USD 1,106.2 million, with a market share of 6.99%.
Composite Substrate is expected to achieve a market size of USD 1,907.7 million, accounting for a market share of 12.05%.
Others, which include special material-based types, are predicted to reach a market size of USD 2,537.3 million, holding a market share of 16.02%.
These projections indicate the continued dominance of the Glass Fiber Cloth Substrate in the PCB laminate market, while other substrate types also show significant growth, reflecting the expanding demands and technological advancements in the electronics industry.
Table Global PCB Laminate Market Size and Share by Type in 2024
Type | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Glass Fiber Cloth Substrate | 10282.7 | 64.94% |
Paper Substrate | 1106.2 | 6.99% |
Composite Substrate | 1907.7 | 12.05% |
Others | 2537.3 | 16.02% |
5 Global PCB Laminate Market Analysis by Application
In 2024, the global PCB laminate market is anticipated to demonstrate a robust presence across various applications, with the following market sizes and shares:
Communications is projected to reach a market size of USD 5,193.8 million, holding a market share of 32.80%.
Consumer Electronics is expected to achieve a market size of USD 2,468.6 million, capturing a market share of 15.59%.
Computer/Peripheral is forecasted to have a market size of USD 4,463.6 million, with a market share of 28.19%.
Military/Aerospace is anticipated market size is USD 858.7 million, representing a market share of 5.42%.
Industrial Electronics is projected to reach a market size of USD 983.2 million, with a market share of 6.21%.
Automotive and Others is expected to achieve a market size of USD 1,866.1 million, representing a market share of 11.79%.
These figures underscore the diverse applications of PCB laminates and their integral role in driving technological advancements across different sectors. The market shares indicate the distribution of influence and demand for PCB laminates in each application area, highlighting the significant contribution of the communications sector and the growing importance of automotive and other applications.
Table Global PCB Laminate Market Size and Share by Application in 2024
Application | Market Size in 2024 (M USD) | Market Share in 2024 (%) |
|---|---|---|
Communications | 5193.8 | 32.80% |
Consumer Electronics | 2468.6 | 15.59% |
Computer/Peripheral | 4463.6 | 28.19% |
Military/Aerospace | 858.7 | 5.42% |
Industrial Electronics | 983.2 | 6.21% |
Automotive and Others | 1866.1 | 11.79% |
6 Global PCB Laminate Market Analysis by Region
In 2024, the global PCB Laminate market revenue by region demonstrated a significant distribution. Asia Pacific was estimated to generate a revenue of $14622.6 million, holding a market share of 92.35%. North America followed with a revenue of $542.2 million, capturing a 3.42% market share. The Europe contributed $449.3 million in revenue, securing a 2.84% market share. Latin America and the Middle East and Africa contributed $155.8 million and $64.0 million in revenue, respectively, with market shares of 0.98%% and 0.40%. These figures underscore the varying contributions of each region to the overall PCB Laminate market revenue in 2024.
Figure Global PCB Laminate Market Share by Region in 2024
7 Top 3 Companies of Global PCB Laminate Market
7.1 Kingboard Holdings Limited
Company Introduction and Business Overview:
Kingboard Holdings Limited, established in 1988 and headquartered in China, is a global leader in the manufacturing and sale of laminates, printed circuit boards, and chemicals. The company has a strong presence worldwide and is known for its diverse product portfolio and commitment to innovation.
Products Offered:
Kingboard Holdings Limited produces a variety of PCB laminates, including glass epoxy laminates, paper laminates, and single and double-sided printed circuit boards. Their products are used in a wide range of applications, from consumer electronics to industrial equipment.
Sales Revenue in the Latest Year:
Kingboard Holdings Limited reported a revenue of USD 2,355.8 million, demonstrating its strong market position and financial performance in the PCB laminate industry.
7.2 Sytech
Company Introduction and Business Overview:
Sytech, founded in 1985, is a China-based company with a global reach. The company is a core supplier of electronic circuit substrates, integrating R&D, production, sales, and service. Sytech has a significant footprint in the industry with its subsidiaries and holding subsidiaries across various regions.
Products Offered:
Sytech develops, produces, and sells flame-retardant epoxy glass fiber cloth copper clad laminates, composite substrate epoxy copper clad laminates, and series prepregs for multi-layer boards and soft materials.
Sales Revenue in the Latest Year:
Sytech’s revenue in the PCB laminate business reached USD 2,327.9 million, showcasing its competitive edge and financial strength in the market.
7.3 Nan Ya Plastics Corporation
Company Introduction and Business Overview:
Nan Ya Plastics Corporation, a subsidiary of Formosa Plastics Group, was founded in 1958 and is headquartered in Kaohsiung, Taiwan. The company operates in the specialty chemicals industry, manufacturing and marketing plastic products, polyester fibers, petrochemical products, and electronic materials.
Products Offered:
Nan Ya Plastics Corporation offers a range of PCB laminates, including glass fiber yarn, glass fiber cloth, epoxy resin, copper foil, copper foil substrate, and printed circuit board, establishing a vertically integrated production system.
Sales Revenue in the Latest Year:
Nan Ya Plastics Corporation’s revenue in the PCB laminate business was USD 1,241.2 million, indicating its significant contribution to the industry and solid financial performance.