PCB Laminates Market Analysis | 2022-2027

Market Insights

The PCB laminates market is projected to grow at a steady CAGR of 4.1% during the forecast period 2022-2027, reaching a value of US$ 20.5 billion by 2027.

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Market Dynamics

Introduction

A laminate is a composite made up of one or more plies of prepreg with copper (or other metals) foil on one or both sides that is morphed into a final product by the application of heat and pressure. A laminate is usually produced using resin systems, reinforcements, and metal (copper) foils. Laminates are the major structural inputs used in printed circuit boards (PCBs), one of the most essential components of the electronics industry. The type of laminate chosen determines the stability and overall performance of the PCB. The laminate of the PCB is what holds the layers together. For selecting the right laminate, three parameters are primarily taken into consideration- Coefficient of Thermal Expansion (CTE), Glass Transition Temperature (Tg), and the Dielectric Constant (Dk).

Covid-19 Impact

Global trade frictions have eased but are still creating some uncertainties in the market. The COVID-19 outbreak dampened the global economic environment in 2020, affecting both, global logistics and production chains. However, there was plenty of demand in the electronics market. As the PCB market remained resilient to demand and supply challenges, the PCB laminates market remained largely unaffected. Worldwide lockdowns and production halts had a minor impact on the revenue of laminators.

Post-Pandemic Market Recovery and Future Outlook

With the impact of the pandemic on the global economy on the wane, laminate factories resumed production and gradually returned to full capacity. Market stakeholders have a sanguine outlook for 2021-22. The long-term market outlook seems propitious, with the increasing demand for PCBs in emerging sectors such as 5G communications. Also, a gradual shift toward advanced and high-value-added products, such as thin, high-frequency, high-speed, and halogen-free laminates, is likely to create new revenue pockets for the market stakeholders over the next five years.

Segments Analysis

By PCB Type

"Rigid/multilayer is likely to remain at the forefront of the PCB laminates market growth during the forecast period"

Based on the PCB type, the market is segmented as rigid PCB/multilayer, HDI/microvia, flexible, and IC substrate. Rigid/multilayer is likely to remain at the forefront of the PCB laminates market growth during the forecast period. Rigid PCBs are inflexible in construction and have a high current capacity. They are best suited for automotive, computer, and industrial electronics applications. The vast majority of rigid PCBs are manufactured with FR-4 as the primary insulating pillar.

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By Laminate Type

"R-4 is expected to remain the most sought-after laminate type for PCB applications during the forecast period"

Based on the laminate type, the market is classified as FR-4, FR-4 high Tg, FR-4 halogen-free, paper, CEM, and special & others. FR-4 is expected to remain the most sought-after laminate type for PCB applications during the forecast period. The multitude of properties provided by FR-4, such as good strength-to-weight ratio, close to zero water absorption, good fabrication characteristics, and the ability to retain high mechanical values and electrical insulating qualities in both dry and humid conditions, make it an attractive option for a wide range of electrical and mechanical applications. CEM (CEM-3) has a structure very similar to FR-4 and is a slightly cheaper laminate type that is gaining traction over FR-4 in some regional markets.

Regional Analysis

"Asia-Pacific is expected to remain the largest market for PCB laminates over the forecast period"

In terms of regions, Asia-Pacific is expected to remain the largest market for PCB laminates over the forecast period. In addition, the region is likely to witness healthy market growth in the coming years. China, Taiwan, Japan, and South Korea are the preferred manufacturing destinations for PCB laminates in the region. China remains a global leader in electronics manufacturing due to its strong political environment, abundant natural and human resources, favorable national policies, and ever-increasing international influence. Furthermore, advancements in consumer electronics and telecommunication products are opening up new opportunities in the regional market. The growing adoption of smart devices, paired with the presence of a large number of PCB makers in the region, indicates a high level of PCB production in the region, which is likely to generate significant demand for PCB laminates in Asia-Pacific.

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Key Players

The PCB laminates industry is highly concentrated. After ages of market-oriented competition, a relatively concentrated and stable supply pattern has been formed. The top three players occupy ~40% share, whereas the top ten enjoy >70% share. Laminate suppliers possess strong bargaining power, owing to the higher industry concentration, with which they ensure a high-profit margin. The following are some of the key players in the PCB laminates market.

• Kingboard Laminates Holdings Ltd.
• Shengyi Technology Co., Ltd. (SYTECH)
• Nan Ya Plastics Corporation
• Panasonic Holdings Corporation
• Taiwan Elite Material Co., Ltd. (EMC)

Raw materials account for >50% share of the cost of the laminate, therefore the cost control of raw materials exercises a strong influence on the earnings of laminate suppliers. Some players, such as Kingboard Laminates and Nan Ya, also produce upstream materials like copper foil, bleached wood pulp paper, epoxy resin, and fiberglass cloth, in addition to producing laminates.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The PCB laminates market is segmented into the following categories:

By PCB Type

• Rigid/Multilayer
• HDI/Microvia
• Flexible
• IC Substrate

By Laminates Type

• FR-4
• FR-4 High Tg
• FR-4 Halogen Free
• Paper
• CEM
• Special & Others

By Application Type

• Consumer Electronics
• Computer & Peripherals
• Communications
• Substrates/Packages
• Automotive
• Aviation
• Industrial Electronics
• Medical
• Others

By Region

• North America (Country Analysis: The USA and Rest of North America)
• Europe (Country Analysis: Germany, France, The UK, Italy, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Central & South America and the Middle East and Africa)

Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s PCB laminates market realities and future market possibilities for the forecast period of 2022 to 2027.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com