According to a press release by the Taiwan Printed Circuit Board Association on September 26, the renowned market research firm "N.T. Information" published an analysis of the global PCB industry and the rankings of the top PCB manufacturers in 2022. It revealed that the PCB output value reached $97.5 billion, a growth of 6.7% compared to 2021. In terms of market share, Taiwanese PCB manufacturers still hold the top position with 31.97%, and out of the top 10 PCB manufacturers, five are Taiwanese companies. Zhending, Xinxing, and Huatong rank first, second, and fourth, respectively. Notably, in recent years, mainland Chinese companies have been catching up rapidly, securing the second position with 31.52%, followed by Japan with 15.9% and South Korea with 10.67%.

According to the head of N.T. Information, Zhongyuan Jiexiong, in 2022, there were a total of 139 PCB companies worldwide with annual revenues exceeding $100 million, a decrease of 7 companies compared to 2021. However, the number of PCB manufacturers with revenues exceeding $1 billion increased to 28, three more than in 2021. If the 139 ranked PCB companies are divided into six blocks (1-25, 26-50, 51-75, 76-100, 101-125, 126-139) based on their ranking, their annual revenue growth rates are 11.6%, 8.6%, 1.8%, 4.5%, -5.6%, and -2.3% respectively. This statistics indicates a trend of "the bigger get bigger," with the "winners" accelerating their growth while the "chasers" experiencing slower momentum or entering a downturn.

Taiwanese PCB companies continue to perform well in the global rankings, with five out of the top 10 PCB manufacturers, including the first, second, and fourth positions occupied by Zhending Technology, Xinxing Electronics, and Huatong Computers, respectively. Mainland Chinese companies occupy the majority with 64 companies, while Taiwanese companies hold the second position with 27 companies. Japan has 21 companies, South Korea has 14, the United States has 5, Europe has 5, and Southeast Asia has 3.

The highlight of the global PCB industry in 2022 was IC substrates, which accounted for about 20% of the overall PCB bare board production value (excluding assembly revenue, approximately $88 billion). Apart from companies in the CPU and other application areas, which were impacted by high inventory in the second half of 2022, the rest showed a growth trend. Moreover, IC substrate manufacturers are highly active in future investments, estimated to reach a scale of $30 billion. When these investments are converted into production, the proportion of IC substrates in the PCB industry is expected to rise to 25%. The global IC substrate production value is projected to reach $22 billion by 2025.

In terms of production locations, the analysis conducted by the aforementioned organization shows that approximately 58.1% of PCBs are manufactured in mainland China, making it the largest production base globally. Taiwan accounts for 12.2%, followed by South Korea with 8.8% and Japan with 6.7%. In the 1980s, the two sides of the Taiwan Strait had a negligible presence in the global PCB industry, but now over 70% of PCBs are manufactured there. With PCB manufacturers from both sides of the Taiwan Strait investing in Thailand, their global market share is expected to continue to increase.

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Source: Economic Daily

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