Global printed circuit board market was valued at USD 69.31 billion in 2021, and it is expected to attain a value of USD 91.87 billion by 2028 with a CAGR of 4.65% over the prediction period (2022–2028).
Westford, USA, Sept. 27, 2022 (GLOBE NEWSWIRE) -- There's no question that the printed circuit board market is booming. There is a growing demand for printed circuit board (PCB) in the semiconductor and electrical technology industries. In 2021, PCB sales reached an all-time high of more than $69 billion, according to SkyQuest analysis. PCBs are used in a variety of products, such as computer chips, telecommunications equipment. The demand for PCBs is expected to increase due to the increasing use of digital technologies and renewable energy sources.
Another area where PCBs are in high demand is within the industrial and medical sectors. This is because PCBs are utilized in a wide variety of devices, including communication systems, cardiac monitors, surgical equipment, and more across the global printed circuit board market.
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Why is this growth happening? In a word: connectivity. Connectivity is at the heart of modern electronics and it's driving the demand for PCBs. More and more devices are requiring connections between various sections on the board, which requires larger and more robust boards. Plus, with applications like IoT (the Internet of Things) growing in popularity, there's an increased demand for smart boards that can interact with various sensors and actuators. In addition to connectivity demands, another key factor responsible for the printed circuit board market boom is the substitution of components with passive components and sensors.
For many industrial and commercial applications, printed circuit boards (PCBs) are still the go-to choose for electronic components and circuitry. In fact, PCBs are so popular that global production is estimated to exceed 100 million each year in the years to come. There are a few reasons why printed circuit board market has gained growth momentum and remain a popular choice, even as more sophisticated semiconductor and electronic products move to assembly-line production.
First, PCBs are easy to fabricate using automated Through Hole Manufacturing (THM) techniques. Second, they offer high reliability and performance due to their complex circuitry and numerous electrical connections. Plus, PCBs can be customized to meet specific needs or specifications in the printed circuit board market. Despite their popularity, however, PCBs also have some obstacles that need to be addressed in order to sustain their dominance in this market segment.
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Faulty PCB to Remain a Key Challenge in Global Printed Circuit Board Market
PCBs can be produced using various manufacturing techniques, but most installations rely on machine processing. This growth in demand has created opportunities for companies who focus on PCB production. There is also increasing interest in using 3D printing technology to create PCBs.
The manufacturing process in the global printed circuit board market has remained relatively unchanged for many years, which has resulted in several disadvantages. For example, PCBs are expensive to produce and can take several hours to print an individual board. Additionally, defects in the printing process can cause boards to fail during use. To address these issues, manufacturers are working on new printing technologies that will reduce the time it takes to print boards and improve their reliability.
In recent years, there have been an increasing incidence of product recalls due to faulty PCBs in the global printed circuit board market. The problem is typically caused by errors in manufacturing that can lead to defective parts. When this happens, the unprotected circuits on the board are at risk of becoming damaged or corrupt. This can cause various issues with the device, including increased risks of electrical fires and failures. In some cases, even simple repairs can result in serious problems down the line if not done correctly.
In September 2022, Kia recalled over 70,000 cars over faulty PCB.
In September 2022, Cummins announced recall of over 12,196 engines from 28 truck manufacturers due to faulty ECM module, which would have increased the risk of crash.
In January 2022, Kia recalled over 410,000 vehicles due to issues in airbag control and memory chip on PCB
In December 2021, Tesla started replacing autopilot camaras in their S, X, and 3 model vehicles due to blurred vision resulted from defective PCB. As per company filing, more than 700 of its cars are installed with defective PCB.
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As defective printed circuit boards continue to cause product recalls, businesses in the printed circuit board market need to take precautions to ensure that their devices are safe. In particular, they should make sure that all insulation layers are properly applied and that any potential problems with the circuit boards are identified and corrected before they reach customers.
Another biggest challenge manufacturers in the global printed circuit board market are facing is the diversion of raw materials from the manufacturing process. In addition, rising labor costs are beginning to impact the competitiveness of PCB production. As a result, manufacturers will need to find innovative ways to boost productivity while preserving quality in order to maintain their share of the market.
AI and 3D printing have Potential to Revolutionize the Printed Circuit Board Market
It seems like printing technology is never ending. In today's world, new and innovative ways of printing are always being developed in an effort to save time and money. In recent years, many different types of printers have been hitting the market, each with its own set of features and capabilities. Luckily, circuit boards have remained largely unchanged over the years - providing manufacturers with a reliable and cost-effective printing medium.
One popular printing method that is seeing increasing adoption in the global printed circuit board market is 3D Printing. This technology has many benefits for circuit board manufacturing, including reducing lead time and production costs, as well as speeding up product approvals. Circuit board manufacturers that are able to embrace 3D Printing can expect to see additional savings on both manufacturing and testing costs. in addition to 3D Printing, other emerging technologies that are impacting printed circuit board manufacturing include photopolymerization resin (PPR) and selective laser sintering (SLS). PPR is a new polymerization process that uses short wavelength light to cure polymer materials.
The potential for artificial intelligence (AI) in the printed circuit board market is enormous. According to Gartner, by 2020, almost two-thirds of all projected spending on big data and AI will be devoted to PCBs and other electronics systems. Additionally, AI can automate tasks such as layout design and Manufacturing Execution Planning (MEP). This would not only save companies time and money, but it would also create a more efficient and accurate manufacturing process.
Already, some companies are beginning to reap the benefits of utilizing AI in PCB manufacturing. For example, Shinsei Industry has successfully automated the multi-step process of creating a PCB using 3D CAD software. By automating this process, Shinsei is able to increase throughput by 50% while also reducing processing time by 25%. In addition, by automatically eliminating minor errors during the design process, Shinsei is able to shorten overall cycle times. The potential for AI in the PCB industry is vast and exciting. Thanks to its ability to streamline processes and save companies time and money, AI could revolutionize the industry.
Top Players in the Global Printed Circuit Board Market
Epitome Components Ltd. (India)
Shogini Technoarts (India)
Cipsa Tec India Pvt Ltd (India)
Nano Electrotech Pvt Ltd (India)
PCB Power Ltd (India)
Sulakshana Circuits Ltd (India)
Vintek Circuit India Pvt Ltd (India)
Hi-Q Electronics Pvt Ltd (India)
Meena Circuit Pvt Ltd (India)
India Circuit Ltd (Garg Electronics) (India)
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