PCB (Printed Circuit Board) is mainly divided into rigid board, flexible board, IC package substrate and so on. Essence Securities believes that the PCB industry will usher in revolutionary innovation, and the entire industry chain will undergo tremendous changes.
Establishing the trend of local transfer
In 2016, the global PCB industry showed three major characteristics: weak demand, the impact of new technologies, and the price increase of raw materials.
Prismark research shows that in 2016, my country's PCB output value was 27.104 billion U.S. dollars, becoming the only region in the world that achieved growth. The global share increased from 8% in 2000 to 50% year by year. With the gradual transfer of production capacity to the domestic market, the share is expected to further increase.
It will take at least two years for Chinese manufacturers to become manufacturers of high-end PCB products. However, from a mid- to long-term perspective, sufficient domestic financial support will enable local manufacturers to become the mainstay of the PCB industry. At the same time, the domestic PCB industry chain has been relatively complete, the industry chain is linked up and down, materials and equipment are the first to drive the rapid growth of domestic related enterprises.
Multiple applications promote industry development
As the fastest-growing sub-industry of PCB, FPC (flexible circuit board) has an optimistic development momentum. It is estimated that by 2017, the global PCB output value will reach 65.7 billion U.S. dollars, and FPC will account for 23.9% with an output value of 15.7 billion U.S. dollars.
my country mainly produces low-end flexible printed circuit boards, and the production of high-precision FPC and rigid-flex boards is still in its infancy. With the innovation and upgrading of smart phone technology, including wireless charging, full screen, etc., the value of FPC will continue to increase, the number of domestic brand FPCs will gradually increase, and the pattern of rising volume and price will bring the best for manufacturers of high value-added FPC products. Development Opportunities.
In addition, automotive PCBs have grown steadily year by year, and autonomous driving and new energy vehicles have become driving twin engines. Since 2010, the sales of new energy vehicles have been on the rise. In the future, with the rising demand in emerging countries, the market size is expected to expand further; in addition, the penetration rate of ADAS is rising, and the intelligentization of automobiles has become a major trend. Millimeter wave radars are usually complete sets. System supply, MMIC chip and antenna PCB board are the hardware core of millimeter wave radar.
At present, PCB is mainly used in communication electronics, consumer electronics and computers, and its demand accounts for nearly 70% of the overall PCB application market. With the rapid evolution of new-generation information technologies such as cloud computing, big data, Internet of Things, mobile Internet, and artificial intelligence, the restructuring of core technology systems such as hardware, software, and services is accelerating, which is triggering a new round of changes in the electronic information industry.
In the future, the application field of PCB products will be further expanded, and the market space is broad. The future development prospects of PCB powerful enterprises can be expected.