Market Trends of Substrate-Like-PCB Industry
This section covers the major market trends shaping the Substrate-Like-PCB Market according to our research experts:
Automotive Industry to Drive the Market Growth
- Currently, automobiles increasingly rely on electronic components. Unlike in the past, when electronic circuits were solely used for headlight switches and windshield wipers, current automobiles make extensive use of electronics.
- By incorporating PCBs into certain novel applications, the latest autos take the benefit of ever-advancing electronic circuit technology. Sensor applications, which are already popular in autos, frequently require PCBs that work with high-frequency signals, such as RF, microwave, or millimeter-wave frequencies. In fact, radar technology, which was formerly only used in military vehicles, is also widely used in modern automobiles to help drivers avoid collisions, monitor blind spots, and adjust to traffic conditions when on cruise control.
- Currently, rigid-flex PCBs have been witnessing significant traction candidates for achieving high durability in IoT device design. Instead of one solid board, they feature various smaller ones joined with flexible wiring. The high-vibration environment of an automobile can put a conventional rigid PCB under a lot of stress. As a result, many automotive electronics manufacturers are employing flexible PCBs instead of rigid PCBs, which are more vibration resistant while being smaller and lighter.
- The high-vibration environment of an automobile can put a conventional rigid PCB under a lot of stress. As a result, many automotive electronics manufacturers are employing flexible PCBs instead of rigid PCBs, which are more vibration resistant while being smaller and lighter.
- Increasing automobile production and sales and the increased incorporation of advanced safety features, some of which are mandated by government bodies, demand convenience and comfort systems. The growing demand for hybrid electric vehicles (HEV) and battery electric vehicles are the major factors that will drive market growth during the forecast period.
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Asia Pacific is Expected to be the Fastest Growing Market
- Asia-Pacific is an emerging market for substrate-like PCBs as it has become a global focal point for significant investments and business expansion opportunities. Globally, more than half of the mobile subscribers are present in Asia-Pacific, such as in China and India. Moreover, there has been a paradigm shift of users from 3G to 4G and 5G technology in this region.
- Key factors that are driving the substrate-like-PCB market growth in the Asia-Pacific region include the increasing adoption of smartphones, rising demand for connectivity solutions, a growing number of internet users, expanding bandwidth-intensive applications, and expansion of telecommunications infrastructure in the region. The majority of the smartphone providers are from the Asia-Pacific region; it is expected that there will be a significant demand for substrate-like-PCB in the Asia-Pacific region during the forecast period.
- Substrate-like-PCB manufacturers from South Korea, Taiwan, and Japan are dominating production activities. For instance, players like Taiwan-headquartered ZD Tech and japan-headquartered Meiko are expanding new substrate-like-PCB production lines in Vietnam and China for more than one smartphone customer. Taiwan has become one of the major places for the development of substrate-like-PCB technology. Certainly, China will gain substrate-like-PCB technical know-how progressively with technology transfer from the major player.
- As of April 2021, 70 subnational and city governments announced 100% zero-emission vehicle targets or the phaseout of internal combustion engine vehicles before 2050. For instance, Japan's government has set a goal of eliminating the use of internal combustion engine vehicles in the country by 2050 to help achieve this goal. The country has begun granting one-time subsidies to buyers of electric vehicles.
- In June 2021, AT&S announced that it chose Malaysia as its first production plant in Southeast Asia for the manufacturing of high-end printed circuit boards (PCB) and integrated circuit (IC) substrates.
- Geographically, Asia-Pacific countries, such as Taiwan, Japan, and China, occupy a significant share of the global PCB landscape. According to Taiwan National Statistics published in October 2021, PCB production in 2020 increased by 57.4 million square feet, or 9.083%, as compared to 2019. China and India are expected to match Taiwan in the future, as massive efforts and investments have been ongoing in parallel with environmental and health-based regulations placed by China and India, respectively.
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