Dublin, July 15, 2021 (GLOBE NEWSWIRE) -- The "Global and China PCB (Including IC Substrates) Market Insight Report, 2021-2025" report has been added to ResearchAndMarkets.com's offering.
PCB (including various types of PCB and IC substrates), or printed circuit board, refers to the fundamental carriers/circuit boards required to carry and connect various components and ICs in all electronic products. Given the broad usage of PCB, the growth of PCB market value seems to be highly correlated with the global economy and structural tech trends (e.g. NB, smartphone, 4G/5G, and datacenter). Over the past few decades, the PCB market has been in a long-term secular growth trend with several identifiable cycles.
We think 5G is the most important growth driver for various types of PCBs in 2020-21F. We discussed how 5G infrastructure, networking, and devices (smartphones or IoT) will influence the growth outlook of different types of RPCB, HDI, FPCB, IC substrates and upstream materials. We estimate the overall PCB demand from 5G BTS in China to grow from RMB1.97bn in 2019 to RMB8.1bn in 2020 and RMB10.85bn in 2021F, in which Antenna/AAU PCB will likely account for around 80% of the value share. By 2025F, we estimate the total value of 5G BTS PCB to reach RMB48bn.
Smartphone: For ICs, the larger package size of 5G modem or SoC (vs 4G), more RF front-end modules for 5G sub-6GHz, and AiP modules for 5G mmWave will benefit the dollar content of IC substrates (e.g. BT-based FCCSP, WBCSP, and AiP substrate). As more ICs or modules are required to enable 5G on SP, the size of the SP mainboard (HDI [high-density interconnect] or SLP [substrate-like PCB]) also needs to increase (usually 20-30% larger than 4G SP mainboard) and/or an increase in complexity is needed (e.g. higher layer count or fine-line spec), leading to HDI demand growth. Some high-end SPs may also upgrade CCLs to lower-loss materials for HDI or SLP to cope with higher-frequency signals. The dollar content for FPCBs should also increase due to the antenna/feedline upgrades based on lower-loss materials (such as modified PI and LCP).
Datacenter/HPC: 5G will drive more cloud applications; hence, demand for datacenter, networking equipment (e.g. switches and router), and high-performance computing (HPC) for applications like AI and autonomous driving and crypto currency will rise along with 5G popularity, in our view. Server and networking equipment require higher-layer count RPCBs based on high-speed CCLs. The demand growth and spec upgrades on CPUs, GPUs, networking ICs, and AI chips increase the demand for FCBGA substrates (ABF-based). The rising penetration of high-bandwidth memory (HBM) and SSD in these applications also boost the unit demand and ASP of BT-based WBCSP substrates.
With China becoming the dominating area for PCB production, China had 73%+ market share in 4L (4 layer) RPCB, 59% share in HDI, 43% share in FPCB, and 42% share in 6-16L RPCB in 2018, according to CPCA.
High-layer count PCB (8L-and above) is the fastest growing segment in RPCB in China, thanks to strong demand from 5G network infrastructure and uptick in datacentre capex. HDI is seeing solid growth in China and other parts of Asia (ex. China and Japan), thanks to rising demand from 5G smartphone growth, tablet and high-end NBs, and more penetration in automotive. IC substrate is seeing strong growth in Japan, China, and other Asian regions as 5G infrastructure and HPC drive up demand for ABF-based IC substrates (mainly in Japan, as well as in Taiwan and Mainland China), and 5G devices, SiP for accessories, and memory upgrades drive demand for BT-based IC substrates (in Korea, Taiwan, and China).
Key Topics Covered:
1 General Overview
1.2 Mainstream Technologies
1.3 Industry Chain
2. Snapshot of Policies
3. Essential Industrial Drivers
4. Upstream material: CCL Market
5 Panoramic PCB Market Insight
5.1 Entire PCB Market
5.2 China PCB Market
5.3 Rigid PCB
5.5 IC substrate
6 Domestic PCB Players
6.1 Sihui Fuji
6.2 Guangdong Kingshine Electronic Technology Co. Ltd.
6.3 Changzhou Aohong Electronics Co., Ltd.
6.4 Jiangsu Xiehe Electronics Co., Ltd.
6.5 SHENGYI TECHNOLOGY CO., LTD.
6.6 Nanjing Allfavor Electronic Co., Ltd.
6.7 Shenzhen KingBrother Technology Limited
6.8 Changzhou Zhongying Science&Technology Co.,LTD.
6.9 Shenzhen Xunjiexing Circuit Tech Co.,Ltd.
6.10 Shenzhen Jove Enterprise Ltd.
6.11 Camelot Electronic Technology Co., Ltd.
6.12 WUS Kunshan
6.13 Shennan Circuits Company Limited.
6.14 DONGSHAN PRECISION MANUFACTURING CO.,LTD.
6.15 Avary Holding
6.16 Shenzhen Kinwong Electronic Co.,Ltd
6.17 Victory Giant Technology
6.18 Olympic Country Co., Ltd.
7 Industry Development Trends
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