"China's Printed Circuit Board (PCB) Industry Panorama in 2025" (with market size, competition pattern and development trend, etc.)

Core data：Printed circuit board industry chain; Printed circuit board market size; Printed circuit board development trend, etc

Industry profile

1、Definition and classification

Printed Circuit Board (Printed Circuit Board, referred to as "PCB"), also known as printed circuit board, printed circuit board, printed circuit board, is fixed in the circuit of various components, to provide a connection between the components of the circuit, by insulation, a certain strength of the material made of board. Broadly speaking, it is a printed circuit board equipped with LSI, IC, transistor, resistor, capacitor and other electronic components, and is welded to the finished product of electrical connectivity. In a narrow sense, it is a semi-finished board with no installed components and only wiring circuit graphics.

PCB products are rich, according to the softness of the substrate can be divided into rigid board (R-PCB), flexible board (FPC), rigid and flexible combined board; According to the number of layers of the conductive diagram, it can be divided into single panel, double panel, multi-layer board; In addition, there are special product categories, such as high-speed high-frequency board, high-density connection board (HDI), packaging substrate, etc.

2、industry chain analysis: all links of the industry chain are closely linked

The industrial chain of the printed circuit board manufacturing industry is long, and the special wood pulp paper, electronic grade glass fiber cloth, electrolytic copper foil, copper clad plate (CCL) and printed circuit board (PCB) are the upstream and downstream products closely connected on the industrial chain.

From the perspective of the industrial chain, the upstream of printed circuit board (PCB) is mainly copper foil, copper foil substrate, glass fiber cloth, resin and other raw material industries; The middle part is the manufacturing process of printed circuit board (PCB), which refers to the process of making copper clad plate into PCB board by etching and other processes; Downstream mainly for printed circuit board (PCB) applications, including communications, optoelectronics, consumer electronics, automotive, aerospace, military, industrial precision instruments and other fields.

From the perspective of representative enterprises in each link of the industrial chain, the upstream raw material link mainly includes copper foil suppliers such as Nord Shares and Jiayuan Technology, glass fiber cloth enterprises such as China Megishige and Changhai Shares, epoxy resin enterprises such as Sinopec, Sanmu Group and Dongcai Technology, and copper clad plate enterprises such as Kingboard, Shengyi Technology and Nana New Material. The middle reaches of the industrial chain are mainly PCB manufacturers such as Pengding Holdings, Dongshan Precision, Shennan Circuit, Hudian Shares, and Jingwang Electronics. Downstream applications are widely used, including communications, computers, automotive electronics, consumer electronics and so on.

Industry development process: in the stage of industrial upgrading

The rapid growth of China's economy and the rapid development of downstream industries such as communications and computers have provided strong support for the rapid development and penetration of printed circuit boards (PCBS). Since its inception, China's printed circuit board industry from "follow" to "and run", gradually breaking through the "card neck" link, overall, its development process can be roughly divided into four stages: germination, growth, outbreak and industrial upgrading period.

ndustry policy background: Policy support to help the high-quality development of printed circuit board (PCB) industry

Printed circuit board (PCB) is the key electronic interconnection of electronic products, known as the "mother of electronic products". The Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Science and Technology and other departments have successively issued the Action Plan for the Development of Basic Electronic Components Industry (2021-2023), the 14th Five-Year Development Plan for China's electronic components Industry (2021-2025), the Implementation Opinions on Manufacturing Reliability Improvement and other policy plans to encourage the development of high-performance, high-frequency and high-speed printed circuit boards. Guide the industry to strengthen technical research and improve product performance to promote the high-quality development of the printed circuit board (PCB) industry.

Industry development status

1、 China's output value accounted for more than 50%, has become the world's largest PCB production base

根据Prismark的数据，2016-2023年，中国大陆PCB产值占全球产值比重保持在50%左右波动，占比从2016年的50%波动上升至2023年的接近55%，已成为全球第一大PCB制造基地。

2、 Exports are far greater than imports, and PCB has long been in a trade surplus position

China's printed circuit board (PCB) industry has long been in a state of trade surplus, according to the General Administration of Customs data, 2018-2024, China's printed circuit board (PCB) industry trade surplus as a whole showed an expanding trend, 2024 trade surplus reached 12.52 billion US dollars, an increase of 31.2%.

3、 The printed circuit board (PCB) market has expanded

Printed circuit board (PCB) is widely used in the downstream field, involving communications electronics, computers, consumer electronics, automotive electronics, industrial control, medical devices, national defense and aerospace and other fields, in recent years, with the rapid development of China's industry, as well as the increasing demand in emerging areas, printed circuit board (PCB) industry also ushered in new opportunities for development. From 2018 to 2023, the market size of China's printed circuit board (PCB) industry increased from 216.39 billion yuan to 266.29 billion yuan, with a compound growth rate of 4.2%. Combined with the statistical data and market changes over the years, preliminary statistics show that the market size of China's printed circuit board (PCB) industry in 2024 will be about 280.6 billion yuan, an increase of 5.4%.

Note: The currency unit will be converted into RMB, and the exchange rate will be 6.6174, 6.8985, 6.8974, 6.4515, 6.7261, 7.0467 and 7.1217 respectively from 2018 to 2024 based on the average exchange rate between US dollar and RMB in the current year

Industry competition pattern

Regional competition: Guangdong, Fujian, Jiangsu distribution is the most concentrated

From the perspective of the regional distribution of printed circuit board (PCB) industry chain enterprises, the distribution of printed circuit board (PCB) enterprises in China is more concentrated, mainly distributed in the economically developed eastern coastal areas, represented by Guangdong Province, Fujian Province and Jiangsu Province.

Enterprise competition: Dongshan Precision, Shennan circuit is the industry leader

In October 2024, N.T.I. Formation released the 2023 "World's Top Printed circuit Board manufacturers" (NTI-100, often referred to as the world's Top 100 PCB list). According to N.T.N.Formation data, in 2023, China's printed circuit board (PCB) industry sales ranked in the world's top 50 companies 15, of which Dongshan Precision ($3.289 billion, the world's third) and Shennan Circuit ($1.913 billion, the world's eighth) ranked in the world's top ten. With strong market competitiveness, is the industry leader.

According to the statistics of N.T.I. Formation, in 2023, Zhen Ding's sales were 4.918 billion US dollars, ranking first in the world

Industry development prospect and trend forecast

1、The market size will exceed 400 billion yuan in 2030

Driven by the support of national industrial policies, the gradual maturity of technical conditions and the release of downstream consumer demand, the size of China's printed circuit board (PCB) market is expected to continue to rise from 2025 to 2030, and the market size will exceed 400 billion yuan in 2030, with a compound annual growth rate of 6.5% from 2025 to 2030.

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2、high performance, environmental protection and intelligence is the main trend

Driven by generative artificial intelligence, satellite communications, automatic driving, intelligent networking and other technologies and new applications, printed circuit board (PCB) products continue to develop in the direction of high density, high integration, high speed and high frequency, and enterprises in the industry are also constantly improving the technical level and improving product performance, so as to comply with the development trend of integration, automation and miniaturization of downstream electronic products. At the same time, with the in-depth advancement of Industry 4.0, PCB factories realize the digital upgrade of the whole process through "AI+IoT", and promote the transformation of the industry from "scale manufacturing" to "intelligent manufacturing services".