Global Multilayer PCB Market Size By Type (Layer 4-6, Layer 8-10), By Application (Consumer Electronics, Communications), By Region, And Segment Forecasts, 2023 to 2031

The Global Multilayer PCB Market was valued at USD 45.7 billion in 2023 and is projected to surpass USD 75.3 billion by 2031, growing at a CAGR of 6.5% during the forecast period from 2023 to 2031. Multilayer PCBs (Printed Circuit Boards) are integral to modern electronic devices, allowing for compact, lightweight designs with complex circuit patterns. The increasing demand for advanced electronic devices, miniaturization of components, and the growing adoption of multilayer PCBs in telecommunications, automotive, and consumer electronics are the key factors driving market growth.

Drivers:

Increasing Demand for Consumer Electronics: The surge in the adoption of smartphones, tablets, and other consumer electronics has created a substantial demand for multilayer PCBs. The requirement for compact, high-performance devices drives the demand for multilayer PCBs that support advanced functionalities in limited space.

Growth in Automotive Electronics: The rising integration of electronic components in vehicles, such as infotainment systems, ADAS (Advanced Driver Assistance Systems), and electric vehicle technologies, is fueling the growth of multilayer PCBs in the automotive sector.

Telecommunications Infrastructure Expansion: With the global rollout of 5G networks, there is a growing demand for sophisticated PCBs that can support higher frequencies, data rates, and complex designs, further propelling market expansion.

Restraints:

High Production Costs: The manufacturing process of multilayer PCBs is complex and involves substantial costs, which can hinder their adoption among small- and medium-sized enterprises (SMEs), especially in price-sensitive markets.

Challenges in Repair and Prototyping: Repairing or making modifications to multilayer PCBs is more difficult compared to single- or double-layer PCBs, as these boards are densely packed with multiple layers, making diagnostics and prototyping more complicated.

Opportunity:

Rising Demand for Wearable Devices: The growing market for wearable electronics, such as smartwatches and fitness trackers, presents an opportunity for the multilayer PCB market. These devices require compact, high-performance circuit boards that multilayer PCBs can provide.

Expansion in Emerging Markets: The increasing industrialization and digitization in emerging economies present lucrative opportunities for multilayer PCB manufacturers, particularly in regions such as Asia-Pacific and Latin America, where the demand for advanced electronics is surging.

Market by System Type Insights:

The rigid multilayer PCB segment accounted for the largest market share in 2023. Rigid multilayer PCBs are widely used across industries due to their durability and ability to house complex circuits. However, the flexible multilayer PCB segment is expected to grow at the highest rate during the forecast period, driven by the growing demand for flexible electronics and miniaturized devices.

Market by End-Use Insights:

The consumer electronics segment dominated the global multilayer PCB market in 2023, accounting for over 40% of the total revenue. The increasing consumer demand for compact, lightweight, and high-performance electronic devices is driving the adoption of multilayer PCBs in this sector. Additionally, the automotive and telecommunications sectors are expected to register significant growth, owing to advancements in vehicle electrification and 5G infrastructure development.

Market by Regional Insights:

In terms of regional coverage, Asia-Pacific held the largest share of the global multilayer PCB market in 2023, driven by the region's robust electronics manufacturing base, particularly in China, Japan, and South Korea. North America is expected to witness significant growth due to the rising adoption of advanced technologies and the presence of key players in the region.

Competitive Scenario:

Key players operating in the global multilayer PCB market include Nippon Mektron Ltd., Zhen Ding Technology, Unimicron Technology Corp., TTM Technologies, Inc., and AT&S Austria Technologie & Systemtechnik AG. These companies are focusing on product innovation, mergers and acquisitions, and expansion into emerging markets to enhance their market position. For instance:

In 2023, TTM Technologies launched a new line of high-frequency multilayer PCBs designed for 5G and telecommunications applications.

AT&S expanded its production facilities in China in 2024 to meet the rising demand for multilayer PCBs in the automotive and consumer electronics sectors.

Scope of Work – Global Multilayer PCB Market

Key Market Developments:

2023: TTM Technologies launched high-frequency multilayer PCBs for 5G applications.

2024: AT&S expanded its manufacturing facility in China to meet the growing demand from the automotive industry.

FAQs:

What is the current market size of the Global Multilayer PCB Market? The Global Multilayer PCB Market was valued at USD 45.7 billion in 2023.

What is the major growth driver of the Global Multilayer PCB Market? The surge in consumer electronics and expansion of 5G networks are the key growth drivers of the market.

Which is the largest region during the forecast period in the Global Multilayer PCB Market? Asia-Pacific is expected to be the largest region during the forecast period.

Which segment accounted for the largest market share in the Global Multilayer PCB Market? The consumer electronics segment accounted for the largest market share in 2023.

Who are the key market players in the Global Multilayer PCB Market? Key market players include Nippon Mektron Ltd., Zhen Ding Technology, Unimicron Technology Corp., TTM Technologies, Inc., and AT&S.