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PRISMARK'S DISCOVERY SERIES:

GLOBAL LEADING PCB COMPANIES - JULY 2025

 

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• The global PCB industry faced challenges in 2024 but showed signs of recovery, driven by robust demand from AI servers and high-speed networking applications. Additional support came from ongoing growth in military and aerospace electronics, as well as a rebound in smartphone and PC shipments. As a result, global bare-board PCB production rose by 5.8%, reaching $73.6Bn, compared to $63.5Bn in 2023.

 

• China retained its position as the world's leading PCB producer by value after reaching the top spot in 2023. Despite facing challenges from oversupply and significant price erosion in 2024, Chinese PCB manufacturers outperformed other Asian competitors, driven by their cost advantages, aggressive capacity expansion, and advancements in products and technologies.

 

• Following a surge in capital investment during 2021 and 2022, PCB industry spending began to cool in 2024. Total capex among the top forty publicly listed PCB manufacturers declined by 7.4%. Investments were directed partly toward expansion in Southeast Asia and partly toward ongoing technology development of advanced substrate and HDI capacities.

 

• This report provides a snapshot of the industry, with a focus on the world’s leading PCB suppliers, their profitability, and investments.