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시장보고서
상품코드
2027362
세계 및 중국의 PCB(AI PCB) 산업과 공급망 개요(동박 적층판, 동박, 전자용 수지, 전자용 천, 특수 장비)(2026년)Global and China PCB ( AI PCB)Industry and Chain Panorama (Copper Clad Laminate, Copper Foil, Electronic Resin, Electronic Cloth, Special Equipment) Industry Research Report, 2026 |
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PCB 시장 규모 : 폭발적인 수요가 시장의 급속한 성장을 촉진합니다.
세계의 PCB 산업은 가속화되는 성장 추세를 보이고 있습니다. 글로벌 PCB 산업에 대한 시장 수요는 더욱 확대될 것이며, 주요 PCB 업체들의 향후 생산 능력 확대 계획과 설비 갱신 요구는 PCB 산업 체인의 진보와 발전을 크게 촉진할 것입니다. 2024년, 세계의 PCB 생산 금액은 735억 6,000만 달러에 달하며, 2010-2023년의 세계 PCB 생산 금액 CAGR은 2.2%에 달했습니다. 통신 부문과 CE(Consumer Electronics) 부문의 지지에 의해 2029년까지 세계의 PCB 생산 금액은 946억 6,000만 달러로 증가할 전망이며, 2024-2030년에 CAGR로 4.3%의 성장이 예측됩니다.
중국의 PCB 산업은 탄력적인 성장을 유지하고 있으며, 계속해서 세계를 선도하고 있습니다. PCB 산업의 생산능력이 지속적으로 중국으로 이동하고, 통신, 컴퓨터, 소비자 전자, 자동차 전자, 산업 제어, 의료, 항공우주 등 다운스트림 부문의 수요가 꾸준히 증가함에 따라 최근 중국 PCB 산업의 성장률은 세계 평균을 상회하고 있습니다. 세계 최대 PCB 생산 기지로서 중국의 PCB 생산액은 2022년 438억 4,000만 달러에 달했습니다. 2010-2022년 기간, 중국의 PCB 생산 금액 CAGR은 6.6%에 달하며, 세계의 평균 성장률을 대폭 웃돌았습니다. 2028년까지 중국의 PCB 생산 금액은 또한 464억 7,000만 달러에 달할 것으로 예측되고 있으며, 2023-2028년의 기간에 CAGR은 4.2%로 전망되고 있습니다. 현재 중국 PCB 시장은 안정적인 성장세를 보이고 있으며, 향후 성장률은 기본적으로 세계 전체 성장률과 비슷할 것으로 예상됩니다.
경쟁 상황을 보면, 2024년 Zhen Ding Technology가 53억 4,000만 달러의 매출로 세계 1위, Unimicron Technology와 Dongshan Precision이 각각 35억 9,000만 달러와 34억 1,000만 달러의 매출로 그 뒤를 이었습니다. 35억 9천만 달러와 34억 1천만 달러의 매출을 기록했습니다. 상위 10개 업체 중 중국 본토 업체가 3개 업체, 대만 업체가 5개 업체를 차지했습니다.
동향1: 임베디드 프로세스가 파워 반도체 패키징의 병목현상을 극복하고, 고집적화 및 효율적인 방열을 실현
임베디드 PCB 기술은 3차원 집적화와 반도체 수준의 공정을 통해 수동 부품과 파워칩을 기판에 내장하는 것으로, 시스템의 성능과 집적도를 크게 향상시키는 동시에 기존 패키징의 와이드 밴드갭 반도체 활용에 따른 방열 등의 문제를 극복할 수 있습니다. 임베디드 PCB 전원 장치 제조에는 주로 "칩 온 서브스트레이트(COS)", "칩 인 캐비티(CIC)", "양면 마이크로 비아"의 세 가지 주류 공정이 있습니다.
기존의 PCB 제조와 달리 임베디드 파워칩 기술은 생산 환경에 대한 요구사항이 매우 높기 때문에 IC 반도체 공정의 도입과 고성능 기계 및 공정의 준비가 필수적입니다. 클린룸 요건과 ESD 대책 준수는 기본 전제 조건이며, 생산 라인 전체에서 비파괴적인 취급이 이루어져야 합니다. 이로써 공장은 더 이상 전통적 PCB 공장이 아닌 반도체 패키징 제조 공장에 가까워졌으며, 이는 PCB 기술과 패키징 기술의 깊은 융합을 반영합니다.
동향2: IC 기판은 칩 패키징의 핵심 소재, 중국의 거대한 시장으로 국산화가 가속화되고 있습니다.
IC 기판은 IC 칩을 탑재하는 기판으로 베어칩을 보호하고 외부와 연결하는 역할을 합니다. 칩 패키징의 핵심 재료로서 IC 기판은 고밀도, 고정밀, 고성능, 박형, 경량의 특징을 가지고 있습니다. IC 패키지 기판은 일반 PCB에 비해 기판 두께, 선폭 및 선 간격, 제조 공정 등 여러 가지 기술 파라미터에 대한 요구 사항이 더 높으며, PCB 산업에서 최고 수준의 제조 기술을 대표합니다. 현재 대만, 중국, 중국, 한국, 일본 등의 지역 제조업체가 세계 IC 기판 시장을 독점하고 있으며, 주요 제조업체는 주로 FC-BGA/ABF 패키지 기판 등 하이엔드 제품에 주력하고 있습니다. 반면, 국내 IC 기판 제조업체는 FC-CSP, BT 패키지 기판 등 부가가치가 낮은 제품에 집중하고 있으며, 여전히 큰 격차를 보이고 있습니다. 그러나 국내 패키징 제조업체가 업계에서 주도적인 위치를 차지하고 있는 점, 공급망 자급자족 및 관리 능력의 필요성, 그리고 AI, 산업용 지능, 자율주행 등의 분야에서 향후 칩 수요의 촉매 효과를 고려할 때, IC 패키징 기판의 국산화 진행이 가속화될 것으로 예상됩니다. 국내 IC 패키징 기판 국산화 진행은 가속화될 것으로 예상되며, 국내 IC 기판 시장에는 폭넓은 전망이 열려 있습니다.
세계와 중국의 PCB 산업에 대해 조사 분석했으며, 시장 규모와 경쟁 상황, 향후 성장 동향, 업스트림/다운스트림 산업 동향 등의 정보를 전해드립니다.
PCB: The Core "Skeleton" and "Nerve Center" of Electronic Devices
Printed Circuit Board (PCB) refers to a circuit board that forms copper circuit patterns on a copper-clad laminate according to a predetermined design. It is mainly responsible for the circuit connection of various electronic components, playing the role of electrical connection. It is an indispensable component of most electronic devices and products, and is therefore also known as the "mother of electronic products". It is widely used in fields such as communication electronics, consumer electronics, computers, automotive electronics, industrial control, medical devices, national defense, and aerospace. PCB is not only a basic industry of modern information technology but also the industry with the largest proportion of output value in the global electronic component sub-industry.
PCB Classification: Adapt PCBs with different layers according to circuit complexity
PCBs can be classified into single-sided boards, double-sided boards, and multi-layer boards according to the number of circuit layers. Single-sided boards are the most basic type of PCB, used in basic electronic products such as common household appliances and electronic remote controls; double-sided boards, with the ability to route circuits on both sides, are widely used in consumer electronics, computers, automotive electronics, industrial control, and other fields. Multi-layer boards can be further divided into mid-low layer boards and high layer boards, suitable for relatively complex circuits, among which high layer boards are mainly used in communication equipment, high-end servers, military, and other fields.Meanwhile, based on the flexibility of the substrate material, PCBs can also be classified into three categories: rigid boards, flexible boards, and rigid-flex boards, each with its own unique characteristics and application scenarios.
PCB Industry Chain: A Complete Ecosystem from Basic Materials to High-End Applications
The PCB industry chain is closely linked and highly coordinated. The upstream mainly consists of core raw materials such as electrolytic copper foil, electronic-grade glass fiber Fabric, and epoxy resin, along with key auxiliary materials such as dry film, prepreg, ink, and chemical solutions. The midstream focuses on the core manufacturing and process steps of PCB, which involve multiple complex processes such as copper-clad laminate cutting, circuit imaging and etching, precision drilling, lamination, solder mask and silk screen printing, and electrical testing, ultimately producing diversified PCB products such as rigid boards, flexible boards, rigid-flex boards, and HDI boards. Downstream application scenarios are extremely extensive, ranging from core technology fields such as computers, semiconductors, and communication devices, to consumer electronics such as smartphones and home appliances, automotive electronics such as new energy vehicles and automotive radars in people's livelihood fields, and further to precision and high-end fields such as industrial control, high-end medical devices, and even aerospace and military, all of which rely on the support of PCBs, comprehensively enabling the intelligent and miniaturized development of various industries.
PCB Market Size: Explosive Demand Drives Rapid Market Growth
The global PCB industry is showing an accelerating growth trend. The market demand for the global PCB industry will further expand, and the future capacity expansion plans and equipment replacement needs of major PCB vendors will greatly promote the progress and development of the PCB industrial chain. In 2024, the global PCB output value reached 73.56 billion US dollars, and the CAGR of the global PCB output value from 2010 to 2023 reached 2.2%. It is expected that by 2029, driven by the communication and consumer electronics sectors, the global PCB output value will increase to 94.66 billion US dollars, with CAGR of 4.3% in 2024-2030.
China's PCB industry continues to lead the world with resilient growth. Benefiting from the continuous shift of PCB industry capacity to China and the strong growth in demand from downstream sectors such as communications, computers, consumer electronics, automotive electronics, industrial control and medical, aerospace, etc., the growth rate of China's PCB industry has generally been higher than the global level in recent years. As the world's largest PCB production base, China's PCB output value reached as high as $43.84 billion in 2022. During the period from 2010 to 2022, the CAGR of China's PCB output value reached 6.6%, far exceeding the global average growth rate. It is projected that by 2028, China's PCB output value will further climb to $46.47 billion, with a projected CAGR of 4.2% during the period of 2023-2028. Currently, the development of China's PCB market is stable, and its growth rate is expected to be basically on par with the global growth rate in the future.
From the perspective of the competitive landscape, in 2024, Zhen Ding Technology ranked first globally with revenue of $5.34 billion, followed by Unimicron Technology and Dongshan Precision, with revenues of $3.59 billion and $3.41 billion respectively. Among the top ten vendors, mainland Chinese vendors occupied 3 seats, and Taiwanese vendors occupied 5 seats.
Trend 1: Embedded process breaks through the bottleneck of power semiconductor packaging, achieving high integration and efficient heat dissipation
Embedded PCB technology embeds passive components and power chips into the board through three-dimensional integration and semiconductor-level processes, significantly enhancing system performance and integration, and overcoming issues such as heat dissipation in the application of wide-bandgap semiconductors in traditional packaging. There are mainly three mainstream processes for manufacturing embedded PCB power devices: Chip-on-Substrate, Chip-in-Cavity, and Double-side Microvia technologies.
Different from conventional PCB manufacturing, embedded power chip technology has extremely high requirements for the production environment, necessitating the introduction of IC semiconductor processes and the provision of high-performance machines and processes. Cleanroom requirements and ESD compliance have become basic prerequisites, and the entire production line needs to ensure non-destructive handling, which makes the factory no longer a traditional PCB factory but more like a semiconductor packaging manufacturing plant, reflecting the deep integration of PCB technology and packaging technology.
Trend 2: IC substrates are the core material for chip packaging, and China's vast market is accelerating domestic substitution
IC substrate is the base plate that carries IC chips, playing a role in protecting bare chips and connecting them to the outside world. As the core material for chip packaging, IC substrate features high density, high precision, high performance, thinness, and lightness. Compared with ordinary PCBs, IC packaging substrates have higher requirements for multiple technical parameters such as board thickness, line width/line spacing, and manufacturing processes, representing the highest manufacturing technology level in the PCB industry.Currently, manufacturers in regions such as Taiwan, China, South Korea, and Japan dominate the global IC substrate market, with leading manufacturers focusing mainly on high-end products such as FC-BGA/ABF packaging substrates. Domestic IC substrate manufacturers, on the other hand, focus on products with lower added value such as FC-CSP and BT packaging substrates, still showing a significant gap. However, considering the leading position of domestic packaging manufacturers in the industry, the need for self-reliance and controllability in the supply chain, as well as the catalytic effect of future demand for chips in fields such as AI, industrial intelligence, and intelligent driving, the progress of domestic substitution of IC packaging substrates is expected to accelerate, and the domestic IC substrate market has broad prospects.
Trend 3: HDI is gradually becoming the mainstream in the AI era, with its output value gradually increasing
With the development of modern electronic products towards miniaturization, thinness, and lightness, as well as the increasing requirements for circuit density and routing complexity due to chip performance upgrades, the demand for HDI (High Density Interconnect) is constantly being catalyzed. HDI, which stands for High Density Interconnect, is a type of circuit board with relatively high circuit distribution density that uses micro blind and buried via technology. Different from traditional multi-layer boards that are only connected through through-holes, HDI can also be connected through micro blind vias or buried blind vias in different internal layers, so its wiring density is also relatively higher. Currently, the mainstream process for HDI manufacturing is mainly the build-up method, which involves building up layers on both sides of the middle core board layer by layer, and then forming via holes through laser drilling for interlayer connection. The number of build-up layers corresponds to the order of HDI. With the rapid development of AI technology, HDI, with its high-density wiring, high heat dissipation efficiency, and good signal transmission performance, has gradually become the mainstream PCB technology type for AI servers. Moreover, HDI is evolving towards higher orders and finer line densities, and its value has also increased accordingly. Industrial chain enterprises with advantages in the HDI field have also achieved rapid growth in performance through this.Currently, domestic vendors represented by Shenghong Technology, relying on their technological and production capacity advantages, are continuously narrowing the gap in market share with overseas HDI vendors, and their industry status is steadily improving.
Vendor Dynamics (1): WUS Group Invests $300 Million to Develop High-Density Optoelectronic Integrated Circuit Boards
WUS Group plans to invest $300 million to launch the "High-Density Optoelectronic Integrated Circuit Board Project". According to the introduction, the "High-Density Optoelectronic Integrated Circuit Board Project" is planned to invest in the establishment of a Wholly-Owned Subsidiary in Jintan District, Changzhou City, build an incubation platform for cutting-edge technologies such as CoWoP and advanced processes such as mSAP, construct a closed-loop system of "R&D - Pilot - Verification - Application", lay out next-generation technology directions such as optical-copper integration, systematically enhance the signal transmission, power distribution, and functional integration capabilities of products, and after the relevant technical processes are verified to be mature and meet the industrialization conditions, invest in the construction of a large-scale production line for high-density optoelectronic integrated circuit boards.
CoWoP (Chip-on-Wafer-on-Platform PCB) is the next-generation packaging solution. Simply put, CoWoP technology is "CoWoS minus the packaging substrate", which means that after combining the silicon die with the silicon interposer, it is directly bonded to the enhanced-designed motherboard (Platform PCB), eliminating the traditional packaging substrate and BGA steps, forming an integrated structure of "chip-silicon interposer-PCB", achieving a thinner, lighter, and higher-bandwidth module design, while fully leveraging the high productivity and mature processes of large-size PCB production lines.
To achieve large-scale mass production of CoWoP, the key lies in the process that breaks through the precision limitations of traditional circuits-mSAP (Modified Semi-Additive Process), an advanced printed circuit board (PCB) manufacturing process, which is mainly applied to the advanced manufacturing technologies of substrate-like printed circuit boards (SLP) and BT substrates.Different from conventional processes that rely on subtractive etching, mSAP adopts an "additive-subtractive" approach: first, a layer of ultra-thin copper is coated on the substrate, then the circuit area is defined through photolithography, selectively electroplated for thickening, and finally the unnecessary thin copper layer is removed to form a fine circuit structure. Compared with traditional PCB processes, this process can achieve smaller line width/space (L/S), maintain high yield and excellent impedance consistency on large-area substrates, thereby meeting the stringent requirements of AI/HPC applications for high-speed signal transmission.
Vendor Dynamics(2): WUS Group Announces Breakthrough in M9 Hybrid Lamination Process
WUS Group announced on January 11, 2026, on the Interactive Easy Platform of the Shenzhen Stock Exchange that it has successfully mastered the hybrid pressing process of M9-grade high-speed materials and conventional materials. This technological breakthrough marks that China's high-end PCB manufacturing has entered the global leading level, and will provide core support for the upgrade of computing power infrastructure such as AI servers.
M9 material is currently the top-grade high-speed copper-clad laminate (CCL) material, specifically designed for 800G/1.6T ultra-high-speed transmission. Its core advantage lies in its extremely low dielectric loss (Df) (<=0.003), which can significantly reduce signal attenuation during transmission. Compared with previous-generation materials, M9 has achieved a qualitative leap in signal loss, thermal stability, and dielectric properties, comparable to an upgrade from a "green train" to a "high-speed rail".
Hybrid lamination process: On the same PCB board, the high-performance but costly M9 material is skillfully combined with conventional materials - using M9 to "pave the high-speed road" in critical areas and conventional materials to control costs in ordinary areas.
Technical challenges: The physical properties of different materials, such as thermal expansion coefficient, contraction rate, and pressing temperature, vary greatly, making it as difficult to perfectly integrate them on a single circuit board as to make people with very different personalities live in harmony. WUS Group successfully overcame this challenge thanks to its profound technical accumulation.
Latest Progress: WUS Group has passed NVIDIA's 78-layer M9-level orthogonal backplane certification, aiming to capture 50% of NVIDIA's orthogonal backplane market share.