In the continuous recovery of the global electronics industry, Taiwan's PCB (printed circuit board) industry is showing strong vitality and growth potential. According to the forecast of the Taiwan Circuit Association (TPCA), Taiwan's PCB industry is coming out of the trough and is expected to grow quarter-on-quarter, and the output value is expected to increase by 7.3% quarter-on-quarter in the second quarter. In addition, TPCA expects full-year 2024 to show a growth of 5% to 7% in US dollar terms. This shows that Taiwan's PCB industry is gradually recovering its growth momentum.
For a long time, Taiwan, China, as an important part of the global electronics industry, has always occupied an important position in its PCB industry. However, after a period of market downturn, the industry is ushering in new development opportunities. According to a recent report by the Taiwan Printed Circuit Association (TPCA), Taiwan's PCB industry has come out of the trough, showing signs of recovery, and is expected to continue to grow in the coming quarters.
In the first quarter, although the global and Taiwanese PCB market did not significantly return to positive growth, the overall performance was still better than market expectations. This is mainly due to the rapid development of emerging technologies such as artificial intelligence (AI) and low-orbit satellites, as well as their continued demand for PCB products. In addition, the demand in the fields of communications, computers, semiconductors, automobiles, and consumer electronics is also growing steadily, providing a broad market space for the PCB industry.
Chart: Taiwan's PCB industry is growing quarter by quarter
From the perspective of product classification, multilayer boards, flexible boards (flexible PCBs), HDI (high-density interconnect boards) and IC substrates (substrates) are still the main products in the PCB market. Among them, multilayer boards are widely used due to their high integration and good electrical properties; Flex boards occupy an important position in consumer electronics and other fields with their excellent flexibility and reliability; HDI and IC substrates play a key role in high-end electronics.
Looking ahead, with the continuous recovery of the electronics industry and the arrival of the peak season, as well as the growth of AI edge applications (such as AI PCs and AI mobile phones), Taiwan's PCB industry is expected to continue to maintain a growth trend. According to TPCA's forecast, the annual output value in US dollar terms will reach 25.933 billion US dollars, or 824.5 billion yuan in New Taiwan dollars, with annual growth rates of 5.2% and 7.1%, respectively. This forecast indicates that Taiwan's PCB industry has regained its positive growth trajectory and is expected to continue its strong momentum in the coming years.
It is worth mentioning that Taiwan's PCB industry has also achieved remarkable results in technological innovation and quality improvement. Many companies continue to invest R&D resources to promote the upgrading of PCB products to meet the market demand for higher performance, smaller size and lower cost. At the same time, the company has also strengthened the implementation of quality management and environmental protection standards to ensure the reliability and sustainability of products.
