Analysis of the Current Market Segmentation of China's Printed Circuit Board Industry in 2023

Analysis of the Current Market Segmentation of China's printed circuit board Industry in 2023

Standard multi-layer board accounts for half of the output value

From the perspective of the output value scale of each segmented market, the main products of China's printed circuit board segmented market include standard multi-layer boards, HDI boards, rigid single and double layer boards, and flexible boards. The proportion of output value of products above 2021 reached 49%, 18%, 14%, and 14% respectively, while the proportion of high value IC carrier board output value was 4%, and the proportion of rigid and flexible board output value was only 1%.

The growth rate of standard multi-layer board production value is rapidly expanding

From 2017 to 2021, the output value of standard multilayer boards in Chinese Mainland showed a growing trend, with the growth rate increasing year by year. In 2021, the output value of standard multi-layer boards reached 25.162 billion US dollars, a year-on-year increase of 47.4%, higher than the overall growth rate of the entire industry. Standard multilayer boards are currently the main product in the PCB industry, accounting for 49% of the industry's output value in 2021.

HDI board leads the industry in terms of output value growth rate

From 2017 to 2021, the output value of HDI board in Chinese Mainland fluctuated, and the growth rate has increased year by year since 2019. In 2021, the output value of HDI boards reached 9.021 billion US dollars, a year-on-year increase of 51.9%, leading the overall industry growth rate of 28%. HDI boards are currently the second largest category of products in the PCB industry, accounting for 18% of the industry's output value in 2021.

Fluctuation of rigid single and double layer output value

From 2017 to 2021, the output value of rigid single and double deck panels in Chinese Mainland fluctuated, and the growth rate fluctuated significantly. In 2021, the output value of rigid single and double sided boards reached 7.348 billion US dollars, a year-on-year increase of 40%, higher than the overall growth rate of the entire industry. In 2021, its output value accounted for 14% of the entire industry, but its proportion has shown a downward trend in recent years.

After 2019, the output value of flexible boards hit a bottom and rebounded

From 2017 to 2021, the output value of flexible board in Chinese Mainland fluctuated, and the growth rate rebounded after 2019. In 2021, the output value of flexible panels reached 6.987 billion US dollars, a year-on-year increase of 33.8%, slightly higher than the overall growth rate of the entire industry. Flexible boards are currently the fourth largest category of products in the PCB industry, accounting for 14% of the industry's output value in 2021.