What is the demand for printed circuit boards?

The demand for printed circuit boards is robust, with the market size valued at USD 73.1 billion in 2024 and projected to reach USD 97.7 billion by 2033, reflecting a compound annual growth rate (CAGR) of 3.30% during the period from 2025 to 2033. This growing demand is primarily driven by the increasing consumption of consumer electronics and the advancements in automotive technology, particularly with the rise of electric vehicles and smart automotive systems, which rely heavily on complex electric circuits. Moreover, the expansion of the Internet of Things (IoT) sector significantly contributes to the increasing need for PCBs, as more devices become interconnected and require efficient circuit board designs to facilitate communication and functionality. Additionally, the trend toward electronic component miniaturization necessitates the development of more compact and efficient PCB designs, driving innovation in manufacturing processes and materials. Furthermore, stringent environmental regulations are encouraging manufacturers to invest in sustainable practices, leading to the development of eco-friendly PCB solutions.