Driven by the demand for advanced packaging, autonomous driving, new energy and AI applications, the global PCB output value is expected to return to a positive growth range in 2024.

According to the data of the International Institute of Obstetrics and Technology Research Institute, as the overall global consumer demand is still not fully recovered, the global PCB output value is expected to be 73.9 billion US dollars in 2023, a decline of 15.6%. By region:

In South Korea, where the proportion of carrier boards is high, the overlay industry is concentrated on consumer electronics memory applications, and its PCB output value has declined by more than 20%.

The decline of PCB output value in Japan is between China and South Korea, because the product composition is relatively balanced and has the support of automotive applications.

The decline in PCB output value in Taiwan is also between China and South Korea.

Looking forward to 2024, due to the low base in 2023, the overall electronics industry will feel a higher growth momentum in 2024, and the PCB industry will also usher in the next growth cycle due to inventory replenishment.

According to the International Institute of Obstetrics and Engineering Research, the estimated global circuit board output value in 2024 will rise to $78.2 billion, an increase of 6.3% from 2023, returning to the positive growth range. When the growth momentum of the overall consumer market gradually approaches the performance of the global economy, the growth rate of global PCB output will return to the long-term average of 4% to 5%.

As for the end market that is driving the growth of PCB output value, ISTI believes that, such as the development of advanced packaging to expand the demand for carrier boards, autonomous driving continues to drive the price and volume of automotive PCB, and AI applications will increase the temperature of hard boards, these will be more significant products that affect the global PCB output value.

It is worth mentioning that the 2023 annual performance forecast and performance letter recently disclosed by a number of PCB listed companies show that the automotive and server fields have become the fastest growing part of the PCB application field, and the performance of related manufacturers has grown faster.

Eaton Electronics performance is more eye-catching, its disclosure of 2023 annual performance express shows that the company achieved operating income of 3.188 billion yuan last year, an increase of 4.25%; The net profit attributable to shareholders of listed companies was 357 million yuan, an increase of 33.03%. It is reported that during the reporting period, the company continued to focus on the two core main businesses of automotive electronics and new energy, actively expanding domestic and foreign markets, and driving operating revenue to achieve year-on-year growth.

At present, the largest business of Shiyun circuit is the automotive PCB plate, foreign customers have Tesla, BMW, Volkswagen, Porsche, and domestic new forces such as the Great Wall. The company said: "PCB products are mainly used in energy control, powertrain, body control, infotainment, lights, sensing, etc., the advantage of the market in overseas, has been firmly established in the mid-market and gradually to the high-end market development."

Chongda Technology disclosed that the company received orders in the server industry from January to September 2023 increased by 47.5% year-on-year, with a faster growth rate. Its products are mainly used in supercomputers, server motherboards, storage devices, Gpus and other products.

In the field of high-level data center switches, the products applied to Pre800G (based on 56Gbps rate, 25.6T chip) have been mass-produced, and the products applied to 800G (based on 112Gbps rate, 51.2T chip) have been delivered in small batches.