The global Multilayer Printed Circuits Market is expected to grow at a rate of about 5% CAGR over the next six years (2022-2028) owing to the growing market for smart devices used in home automation systems. Furthermore, the growing need for smaller, lighter boards for use in electrical devices, military equipment, and healthcare miniaturization is likely to drive the growth of the market during the forecast period. The market size is estimated to be ~US$ 30 Bn in 2022. It is further found in the research study that the market size is expected to reach ~US$ 40 Bn by 2028 with a CAGR of ~5%.
The growing market for smart devices incorporated into home automation systems is expected to propel the Multilayer Printed Circuits Market growth. The need for smaller and lighter boards for use in electrical devices, military equipment, and healthcare miniaturization is further expected to accelerate the growth of the market.
For more information, Request a Free Sample Report
Key Growth Drivers
- Nowadays, consumers seek out additional conveniences brought about by home automation products or devices and ambient computing through smart home devices. For an efficient and lighter smart home device, a multilayer printed circuit board is used in its wiring area. Thus, the increasing adoption of smart home devices is expected to push the market growth of multilayer printed circuit boards.
- According to the Home Improvement Research Institute (HIRI), approximately 456 million smart-home devices were shipped globally in 2020, which is further expected to cross approximately 1.2 billion by 2025.
- The multilayer printed circuit board market faces several restraints such as the availability of cheaper alternatives in the market. Also, the requirement of higher cost and time for manufacturing a multilayer printed circuit board is expected to hinder market growth.
- The cost of manufacturing, designing, and de-paneling a multilayer printed circuit board goes on the higher side as compared to the other alternatives in the market which could be used unless there is a requirement for the small size factor. Also, multilayer PCBs are the result of new technology, so the equipment required to produce them is still relatively expensive.
- According to Valley Services Electronics (VSE), a leading PCB manufacturer and assembler, a single-layer printed circuit board requires no additional cost whereas a multilayer printed circuit board requires an additional US$25 to US$50 per layer pair on a typical-sized board.
The outburst of COVID-19 had a mixed impact on the Multilayer Printed Circuits Market. Supply chain disruption is one of the significant concerns which led to reduced component manufacturing, component shortages, shipping delays, and restrictions. This increased the demand for Multilayer Printed Circuits in various end-user applications across the globe. Secondly, in areas with high infection rates, operations shut down entirely unless the manufacturer is a regular producer of essential electronics products, such as those for critical industries like healthcare devices, aerospace, and automotive systems. However, the requirement for advanced Healthcare devices increased worldwide which boosts the demand for multilayer printed circuits.
- According to the economic report (USA and EU Outlook) published by the Institute for Printed Circuits (IPC) in November 2020, the overall decline in manufacturing of printed circuits by 3.6% from the previous year because of less industrial production during the COVID-19 pandemic.
Key Trends by Market Segment
By Product Type: The layer 10+ segment dominated the global Multilayer Printed Circuits Market in 2021 and is estimated to continue being the dominant segment during the forecast period.
- This multilayer configuration is widely used in mobile phones and other electronic devices. Generally, 10+ layers of multilayer printed boards are used in mobile phones, and laptops to increase their efficiency and to keep them lightweight.
- In October 2018, ITEQ Corporation, a Taiwan-based global leader in the development and manufacture of copper-clad laminates for PCBs, announced the introduction of its new IT-8338A and IT-8350A products for use in Antenna and LNB applications. The laminate offering includes 20, 30, and 60 mil thick laminates as well as optional thinner laminates required for multilayer applications.
To more about industry trends, Request a Free Expert Call
By Application Type: The consumer electronics segment dominated the Global Multilayer Printed Circuits Market in 2021.
- High disposable income amongst the working population is leading to the high adoption of smart appliances. The manufacturers are focusing on developing user-friendly products that cater to consumer needs. Thus, the consumer electronics market is growing and simultaneously boosting the market for multilayer PCBs.
- New Hampshire Investors Commit $5M to Softeq Venture Fund in Partnership with Launch NH. Softeq to create Smart Home solutions that work in sync with 3rd-party devices and apps, protect user data, keep firmware updated, support Alexa, and deliver a seamless user experience that requires multilayer PCBs for effective and efficient operation and this will propel the growth of the Multilayer Printed Circuits Market.
By Regions: Asia-pacific region accounted for the largest market share in 2021 among all regions within the total Global Multilayer Printed Circuits Market.
- Rising initiatives by the governments for partnering with local Telco to bring change in communication infrastructure in the Asia Pacific is propelling the growth of the market.
- Countries like India and China in the region have a larger population, with a higher requirement for smart devices, mobile phones, and electronic devices, further boosting the demand for multilayer printed circuits in these regions, and thus overall growth of the market.
The Global Multilayer Printed Circuits Market is highly competitive with ~200 players which include globally diversified players, regional players as well as a large number of country-niche players that have core in PCB manufacturing and specialization in multi-layer PCB and flexible PCBs.
Large global players control the majority share of the market in terms of revenue, while regional players hold the second largest share. Some of the major players in the market include Flexium Interconnect Inc, Fujikura Ltd, Nippon Mektron LTD, TTM Technologies Inc., Zhen Ding Tech., MFLEX, JYCircuitBoard, Tripod Technology Corp., Compaq Manufacturing Co. Ltd., Ibiden Co. Ltd., Samsung Electro-Mechanics, Trackwise Designs plc among others.
The leading global companies such as Samsung Electro-Mechanics, Trackwise Designs plc, and TTM Technologies Inc. are highly focused on providing increased layers of (above 10) printed circuits that can be used across the globe for various end-user applications.
Visit a link Request For Custom Report
Recent Developments Related to Major Players
- In August 2021, TTM Technologies Inc. announced to start designing and developing printed circuit boards for the latest generation of surgical robots in its specialized factories. The objective of these robots is to increase performance and patient satisfaction at less cost.
- In July 2021, Trackwise Designs Plc has broken its record for the world’s longest multilayer flexible printed circuit at 72m for an industrial application.
- In January 2020, LG and Samsung announced to launch of micro-LED TV for residential and commercial applications to target commercial indoor applications and high-end home installation.
The Global Multilayer Printed Circuits Market is forecasted to grow at ~5% CAGR, which is primarily driven by the growing market for smart devices incorporated into home automation systems. Furthermore, the growing need for smaller, lighter boards for use in electrical devices, military equipment, and healthcare miniaturization is likely to drive the growth of the market during the forecast period. The market size is estimated to be ~US$ 30 Bn by 2022 and is expected to reach ~US$ 40 Bn in 2028. Asia Pacific is the dominant region in terms of revenue generation. Though the market is highly competitive with ~200 participants, few global players control the dominant share and regional players also hold a significant share.
Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks
Ken Research has recently published report titled, “Global Multilayer Printed Circuits Market Size, Segments, Outlook, and Revenue Forecast 2022-2028” The Global Multilayer Printed Circuits Market is segmented by product type and application type. In addition, the report also covers market size and forecasts for the world’s major regions’ Multilayer Printed Circuits Markets. The revenue used to size and forecast the market for each segment is US$ Billion.
|By Product Type||
|By Application Type||
For more insights on the market intelligence, refer to the link below:-