Substrate-Like PCB Market to Reach Over $4 Billion by 2028

With the use of substrate-like PCBs, more space can be occupied by the battery in a smartphone as it allows for thinner connections between critical components such as DRAM and application processor. Moreover, even modern vehicles are equipped with substrate-like PCBs with wired and wireless technologies. With such systems, driver can unlock the vehicle, remotely monitor climate control systems, check the battery status, and track the car using a smartphone.

The demand for consumer electronics such as smartphones, tablets, smart bands, fitness bands, and other wearable is propelling worldwide. The rising uptake of substrate-like PCBs by smartphone manufacturers such as Apple and Samsung and investment in product development by key players are fueling the PCB market growth. In 2020, Apple launched two 'iPhone SE 2' models, integrating a 10-layer substrate-like PCB for their motherboard

According to The Insight Partners' research, the global substrate-like PCB market accounted for US$ 1,247.8 million in 2020 and is anticipated to reach US$ 4,718.6 million by 2028 to spur at an annual growth rate of 17.8% from 2021 to 2028. Rising demand for substrate-like PCBs in consumer electronics & automotive industry and miniaturization & modularization of PCBs in consumer electronics are the critical factors accelerating the market expansion.

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The prominent players profiled in the global substrate-like PCB market report are Compaq Manufacturing Co., Ltd; Daeduck Electronics Co., Ltd.; Ibiden Co, Ltd; Kinsus Interconnect Technology; Samsung Electro-Mechanics Co, Ltd; AT&S Austria Technologie & Systemtechnik Aktiengesellschaft; Zhen Ding Tech. Group Technology Holding Limited; Technologies Inc; Korea Circuit; and Unimicron Technology Corp.

• In July 2021, Ibiden Co was selected for FTSE4good index series for the sixth consecutive year and FTSE blossom Japan index for the fifth year in a row. These indices are designed to measure company's performance demonstrating strong ESG practices.

• In December 2021, Samsung Electro-Mechanics announced that it would invest a total of US$ 850 million in Vietnamese production plant by 2023 to build manufacturing facilities and infrastructure for semiconductor package substrates.

• In October 2021, AT&S entailed project information about company's plan to invest in a state-of-the-art facility for IC substrates at the Kulim Hi-Tech Park, Kedah, Malaysia. This development will affirm the company's position as a major manufacturing hub in APAC.

With the demand for portable electronics in the market, it is expected that the electronic modules and devices must prioritize size and weight reduction and provide reliable signal integrity. Miniaturized components need to be arranged within a limited dimension, which is not feasible in a conventional printed circuit board. Hence, manufacturers prefer deploying substrate-like printed circuit boards that allows proper miniaturization of electronic components. With the rising trend of IoT (internet of things), 5G, and smart cars, it becomes essential for the PCB to be miniaturized with a powerful substrate. Thus, the demand for miniaturized PCBs with the elements mentioned above fosters the global substrate-like PCB market.

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On the other hand, the fluctuating prices of raw material impede the growth of global substrate-like PCB market.

Based on line/space, the market is split into 25/25 & 30/30 μm (micrometer) and less than 25/25 μm. The 25/25 & 30/30 μm segment led the domain with 91.8% market share in 2020. It was valued at US$ 1,145.0 million in 2020 and is projected to generate US$ 4,070.5 million by 2028 to expand at 16.9% CAGR during 2021-2028.

As per inspection technology, the substrate-like PCB market sphere is categorized into automated optical inspection, direct imaging, and automated optical shaping. The automated optical inspection segment held 64.4% market share in 2020. It was assessed at US$ 803.5 million in 2020 and is speculated to garner US$ 2,593.2 million by 2028 to rise at 16.1% CAGR along the forecast period.

According to application, the global substrate-like PCB market is segmented into consumer electronics, automotive, medical, industrial, and others. With 97.5% market share, the consumer electronics segment dominated the business in 2020. It amassed US$ 1,218.9 million in 2020 and is slated to accrue US$ 4,512.3 million by 2028 to grow at 17.5% CAGR throughout the forecast period.

Our regional analysis states that the Asia Pacific market captured 78.2% share of the business in 2020 with a revenue total of US$ 975.3 million. It is projected to hit US$ 3,922.8 million by 2028 to surge at the highest CAGR of 18.7% over the forecast period.

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