Substrate-Like PCB Market Report: Size, Share and Outlook by 2031

The substrate-like PCB sector is anticipated to grow significantly, reaching a value of US$ 4,718.6 million by 2028, up from US$ 1,494.9 million in 2021, reflecting a compound annual growth rate (CAGR) of 17.8% during the period from 2021 to 2028.

The substrate-like PCB sector is witnessing robust growth, driven by the increasing adoption of these components by original equipment manufacturers (OEMs), as well as in smart consumer electronics and wearable technology. The rising need for efficient connectivity solutions, coupled with the trend towards miniaturization, is further propelling market expansion. Currently, the market's growth is heavily reliant on the sales of premium smartphones. There is a heightened emphasis on minimizing the size of electronic packaging to lower power consumption while enhancing functionality, which is in turn boosting the demand for substrate-like PCBs. Conventional printed circuit boards (PCBs) struggle to accommodate the compact arrangement of miniaturized components, leading to a surge in the need for substrate-like PCBs. The expanding consumer electronics market, which includes smartphones, tablets, smart bands, fitness trackers, and wearables, is a significant driver of the global substrate-like PCB market. The increasing integration of substrate-like PCBs by smartphone giants like Apple and Samsung, along with substantial investments in product innovation by leading companies, are also contributing to market growth.

The COVID-19 pandemic had a profound impact on the manufacturing landscape, particularly in major production hubs like China, which saw a halt in the production of substrate-like PCBs in early 2020. This disruption led to an imbalance in demand and supply, affecting global pricing. Europe holds considerable potential for the growth of substrate-like PCBs, attributed to high consumer purchasing power and advancements in technologies such as 5G and the Internet of Things (IoT). However, the pandemic resulted in a notable decline in PCB production across Europe, alongside challenges faced by the automotive and other sectors until mid-2021. Furthermore, interruptions in the supply of raw materials and electronic components from China have intensified the manufacturing challenges globally. These issues are expected to directly influence the growth trajectory of the substrate-like PCB market both in Europe and worldwide.

The substrate-like PCB market is categorized into segments based on line/space, inspection technologies, applications, and geographical regions. In 2021, the 25/25 and 30/30 ?m line/space segment led the market, while the automated optical inspection technology segment captured the largest market share. The consumer electronics sector represented the most significant portion of the market in 2021, with the Asia Pacific region holding a substantial share of the global market.

The market size for substrate-like PCBs was established through a comprehensive approach that combined both primary and secondary research methods. Extensive secondary research was conducted utilizing both internal and external sources to collect qualitative and quantitative data regarding the market. This research facilitated an overview and forecast of the substrate-like PCB market across various segments. Additionally, primary interviews were carried out with industry experts and stakeholders, including VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders, to validate the findings and gain deeper insights into the market dynamics. These participants possess specialized knowledge in the substrate-like PCB sector.