Global PCB market set to grow by $26.8 bn by 2029

Increased demand for electronic devices will drive the growth of the global printed circuit board (PCB) market, which is projected to expand by $26.8 billion from 2025 to 2029, according to a report by Technavio. The market is expected to grow at a compound annual growth rate (CAGR) of over 6.2% during this period.

The report highlights that the rising adoption of smartphones, along with trends toward flexibility and industry automation, are key factors driving market growth. The demand for electronic devices related to 5G, IoT, and AI is also significantly boosting the PCB market. Consumer electronics, including smartphones, cameras, PCs, tablets, and smart devices, are major consumers of PCBs, as well as automobile applications and industrial automation.

The market is moving towards flexible circuits, rigid-flex, and high-temperature performance PCBs made from materials like glass fabric, FR-4, epoxy resin, and fiberglass. Industry automation, the use of cobots, industrial robots, and drones are further enhancing this trend, Technavio reports, as PCBs play a crucial role in optimizing power usage, that contribute to efficiency and cost savings.

Despite challenges, such as ensuring PCB reliability and addressing electrical property degradation, the market's future looks promising with ongoing innovations and demand from major players like Quanta Computer and Apple suppliers. The emergence of 3D printing and flexible circuits presents opportunities for further growth and innovation in the PCB market.

However, environmental concerns remain a significant issue. The non-biodegradable nature of components like epoxy resins containing chlorine poses a threat to the environment. Addressing electronic waste and hazardous substances is crucial for sustainable market growth.