[Hot Topics] Global PCB output value will rebound to US$78.2 billion in 2024, with an estimated annual growth of 6.3%

According to estimates from the Institute of Obstetrics and Technology of the Industrial Technology Research Institute in Taiwan, China, the global printed circuit board (PCB) output value will be US$73.9 billion in 2023, a decline of 15.6%. The output value will rebound to US$78.2 billion in 2024, with an estimated annual growth of 6.3%.

The Institute of Obstetrics and Technology of Taiwan Industrial Research Institute pointed out that global PCB output value is expected to rebound to US$78.2 billion in 2024, an increase of 6.3% compared with 2023. Regarding the development of the global PCB industry in 2024, the Taiwan Circuit Board Association (TPCA) and the Institute of Obstetrics and Technology of the Taiwan Institute of Technology (ISTI) jointly pointed out four key issues. First, countries/regions around the world compete to strengthen the semiconductor industry, affecting the PCB and carrier board ecosystem. Second, carbon-neutral electronic products are on the market, which has greatly increased the pressure on the supply chain to reduce carbon emissions. Third, the supply chain is accelerating globalization, and new PCB clusters are taking shape in Southeast Asia. Fourth, iterative updates of product specifications will become the main growth driver.

Previously, the industry expected that the market inventory adjustment in the PCB industry would come to an end by 2024, and the mobile phone, PC/NB, and consumer product markets would gradually recover. In addition, electric vehicles, AI servers, traditional servers and satellite communications also continue to be in demand. Among them, server boards and automotive boards are two areas that are growing rapidly.

When talking about the industry, Zeng Zizhang, chairman of Xinxing Group, said that there should be a recovery in June and July of 2024. The Palestinian-Israeli war will of course have a short-term impact. We have to wait until the second quarter of 2024 to observe the recovery of carrier boards. Zeng Zizhang said that there are many reasons for the decline of the PCB industry to be longer than expected, but the signs of recovery next year are more recognized by many people, and judging from market conditions and customer demand, 2025-2026 will be better.