According to data from the International Institute of Obstetrics and Gynecology at the Industrial Technology Research Institute, due to the incomplete recovery of global consumer demand, it is expected that the global PCB output value will be 73.9 billion US dollars in 2023, a decline of 15.6%. From a regional perspective:
● The PCB output value in Chinese Mainland will decline by 9% in 2023, which is better than the global average, because its carrier plate proportion is low and supported by the growth of automobile applications against the trend.
In South Korea, where the proportion of PCBs is relatively high and the industry is concentrated in consumer electronic memory applications, the decline in PCB output value exceeds 20%.
The decline in PCB production value in Japan is between that of China and South Korea, due to a relatively balanced product composition and the support of automotive applications.
The decline in PCB production value in Taiwan is also between China and South Korea.
Looking ahead to 2024, due to the low base of 2023, the overall electronics industry will feel higher growth momentum in 2024, and the PCB industry is also expected to usher in the next growth cycle due to inventory replenishment.
According to the International Institute of Obstetrics and Gynecology at the Industrial Technology Research Institute, it is estimated that the global output value of circuit boards will rebound to 78.2 billion US dollars in 2024, an increase of 6.3% compared to 2023, returning to the positive growth range. As the growth momentum of the overall consumer market gradually approaches the global economic performance, the growth rate of global PCB output will also return to the long-term average level of 4% to 5%.
As for the terminal market that drives the growth of PCB output value, the Institute of Obstetrics and Gynecology at the Industrial Technology Research Institute (ISTI) believes that products that will have a significant impact on global PCB output value, such as the development of advanced packaging to expand the demand for PCBs, the continuous increase in PCB prices for autonomous driving vehicles, and the use of AI applications to warm up hard boards, will be among the most significant.
It is worth mentioning that several PCB listed companies have recently disclosed their 2023 annual performance forecasts and performance reports, showing that the automotive and server fields have become the fastest-growing part of the PCB application field, and the performance growth rate of related manufacturers is relatively fast.
Yidun Electronics' performance is quite impressive. Its disclosed 2023 annual performance report shows that the company achieved a revenue of 3.188 billion yuan last year, a year-on-year increase of 4.25%; The net profit attributable to shareholders of the listed company was 357 million yuan, a year-on-year increase of 33.03%. It is reported that during the reporting period, the company continued to focus on its two core businesses of automotive electronics and new energy, actively expanding domestic and foreign markets, and driving year-on-year growth in operating revenue.
Shiyun Circuit's current largest business is the automotive PCB sector, with foreign customers including Tesla, BMW, Volkswagen, Porsche, and new forces such as Great Wall in China. The company stated, "PCB products are mainly used in energy control, powertrain, vehicle control, information entertainment, car lights, sensors, etc. The advantageous market is overseas, and it has now firmly established itself in the mid-range market and gradually developed towards the high-end market
Chongda Technology disclosed that the company's order volume in the server industry increased by 47.5% year-on-year from January to September 2023, with a relatively fast growth rate. Its products are mainly used in supercomputers, server motherboards, storage devices, GPUs, and other products.
In the field of advanced data center switches, Shanghai Electric Power Co., Ltd. has mass-produced products for Pre800G (based on 56Gbps speed, 25.6T chip), and has achieved small batch delivery of products for 800G (based on 112Gbps speed, 51.2T chip).
