Wilmington, Delaware, Feb. 11, 2025 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Multilayer Printed Circuit Board Market by Layer (Layer 4 to 6 and Layer 6 & Above), Substrate (Rigid, Flexible, and Rigid-Flex), and End-use Industry (Industrial Electronics, Healthcare, Aerospace & Defense, Automotive, IT & Telecom, Consumer Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the “multilayer printed circuit board market” was valued at $71 billion in 2023, and is estimated to reach $116.1 billion by 2032, growing at a CAGR of 5.5% from 2024 to 2032.
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Prime Determinants of Growth
The multilayer printed circuit board market is expected to witness notable growth owing to increase in demand for electronic devices, surge in industrial automation, and rise in demand for high-speed data transmission. Moreover, increase in investment in healthcare technologies is expected to provide lucrative opportunity for the growth of the market during the forecast period. On the contrary, high initial investment limits the growth of the multilayer printed circuit board market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $71 billion |
| Market Size in 2032 | $116.1 billion |
| CAGR | 5.5% |
| No. of Pages in Report | 385 |
| Segments Covered | Layer, Substrate, End-use Industry, and Region |
| Drivers | Increasing Demand for Electronic Devices Increasing adoption of industrial automation Surge in Industrial Automation Rise in Demand for High-Speed Data Transmission |
| Opportunity | Increase in Investment in Healthcare Technologies |
| Restraint | High Initial Investment |
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The Layer 4 to 6 segment held the highest market share in terms of revenue in 2023.
On the basis of layer, the Layer 4 to 6 segment held the highest market share in 2023, accounting for more than three-fifths of the global multilayer printed circuit board market revenue and is estimated to maintain its leadership status throughout the forecast period, owing its widespread adoption in consumer electronics, including smartphones, tablets, and wearables, due to its optimal balance between performance, cost-effectiveness, and complexity. In addition, its extensive use in automotive systems, industrial equipment, and telecommunication devices further drives demand. However, the Layer 6 and Above segment is projected to manifest the highest CAGR of 7.29 % from 2024 to 2032.
The rigid segment held the highest market share in terms of revenue in 2023.
On the basis of substrate, the rigid segment held the highest market share in 2023, accounting for more than half of the global multilayer printed circuit board market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the Flexible segment is projected to manifest the highest CAGR of 7.05% from 2024 to 2032, owing to the growing demand for lightweight, bendable, and compact electronic devices. This growth is driven by its increasing adoption in wearable electronics, medical devices, and aerospace applications, where flexibility and space-saving designs are critical.
The consumer electronics segment held the highest market share in terms of revenue in 2023.
On the basis of end use industry, the consumer electronics segment held the highest market share in 2023, accounting for more than one-fourth of the global multilayer printed circuit board market revenue and is estimated to maintain its leadership status throughout the forecast period owing to the increasing demand for smartphones, laptops, tablets, and other personal electronic devices, along with advancements in miniaturization and functionality of consumer electronics. However, the healthcare segment is projected to manifest the highest CAGR of 9.31% from 2024 to 2032, owing to the growing integration of advanced electronic components in medical devices such as diagnostic equipment, wearable health monitors, and surgical instruments. The increasing focus on telemedicine, remote patient monitoring, and the adoption of IoT-enabled healthcare solutions further drive the demand for multilayer PCBs in the healthcare sector.
Asia-Pacific held the highest market share in terms of revenue in 2023.
On the basis of the region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than two-third of the multilayer printed circuit board market revenue owing to the region’s strong presence of leading electronic manufacturers, abundant availability of raw materials, and low manufacturing costs. In addition, the rapid growth of industries such as consumer electronics, automotive, and telecommunications in countries like China, Japan, South Korea, and India, coupled with increasing investments in 5G infrastructure and industrial automation, further drives the market growth in this region.
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Leading Market Players: –
- Shenzhen Kinwong Electronic Co., Ltd.
- Jiangxi Redboard Technology Co., Ltd.
- Hi-Q Electronics Pvt. Ltd
- AS & R Circuit India Pvt Ltd
- AT&S Austria Technologie & Systemtechnik Aktiengesellschaft
- Sahasra Electronics Pvt Ltd
- Ascent Circuits Private Limited
- Shennan Circuits Company Limited
The report provides a detailed analysis of these key players in the global Multilayer printed circuit board market. These players have adopted different strategies such as product launch, product development, Agreement, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. For instance, In October 2024, TTM Technologies, Inc. signed an agreement of $30 million with Department of Defense to start advanced manufacturing equipment and prototype designs plant for printed circuit Boards In U.S. This strategy helps to enable TTM to build a new 200,000+ square foot facility, significantly increasing domestic production of ultra-high density printed circuit boards and bolstering supply chain resilience.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the multilayer printed circuit board market analysis from 2023 to 2032 to identify the prevailing multilayer printed circuit board market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the multilayer printed circuit board market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global multilayer printed circuit board market forecast, multilayer printed circuit board market outlook.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global multilayer printed circuit board market trends, key players, market segments, application areas, and market Advanced PCBsgrowth strategies.
Key Segments:
By Layer
By Substrate
By End Use Industry
By Region:
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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