The global PCB market is huge. As of 2016, the global PCB industry has a market size of approximately US$62.1 billion. The downstream applications of the PCB industry include consumer electronics, communications, automotive electronics, industrial control medical, military and aerospace. In 2016, computers, communications equipment, and consumer electronics were the top three downstream applications for PCBs, accounting for 30% and 27% of downstream applications, respectively. %, 14%. The steady growth of downstream demand such as telecommunications and automotive electronics has driven the growth in demand for the PCB market and promoted the steady development of the PCB special ink business.
2. China has become the largest manufacturing country in the PCB industry
The global PCB industry has shifted its focus to Asia. China has become the largest manufacturing country in the PCB industry. From 2008 to 2016, the proportion of PCB output in the Americas, Europe, and Japan decreased continuously, from 9.30%, 6.65%, and 21.12% in 2008 to 5.08%, 3.52%, and 9.69% in 2016; At the same time, the global market share of PCB production in China continues to increase. Between 2008 and 2016, the output value of China's PCB industry increased from US$150.37 billion to US$271.23 billion, and CAGR reached 7.65%, far exceeding the global growth rate of 1.47%. According to the forecast, it is expected that by 2021, China's PCB industry output value will reach US$ 32.042 billion, which represents a slight increase to 53.04% of the total PCB industry output value.