According to Prismark Q4, the total global PCB output value reached US$62.396 billion in 2018, up 6% from 2017. The global PCB output value is expected to reach US$63.727 billion in 2019, up 2.1% year-on-year; the global PCB output is expected to reach 2023. With a total of 74.756 billion US dollars, the annual compound growth rate (CAGR) of global PCB output value will reach 3.7% in 2018-2023.
In 2018, China's PCB production value reached US$32.702 billion, a 10% increase from 2017, accounting for 52.4% of the global PCB output value. The 2018-2023 China PCB total output growth rate (CAGR) will reach 4.4%. From 2000 to 2018, the annual compound growth rate (CAGR) of global PCB output value was 2.3%, and the compound annual growth rate (CAGR) of PCB output value in China was 13.5%. The growth rate far exceeded the global average and it is the largest PCB production base in the world. It is estimated that by 2023, China's share of global PCB production will be 54.3%, and global PCB production capacity will continue to shift to mainland China.
In 2019, due to the uncertainty of Sino-US tariff policy, the global economic slowdown and the pressure of RMB appreciation, the prices of upstream raw materials continued to remain high, especially the main materials such as copper foil, copper clad laminates, PP sheets, precious metals, etc. The tightening of supervision and the downturn of the domestic economy will make the domestic PCB industry continue to face severe challenges.
Circuit board enterprises should focus on strengthening quality management, improve customer satisfaction, further increase R&D investment, launch more competitive high-tech products, enhance the company's sustainable development capabilities, and resolve various production and operation risks, and strive to Continued to achieve good results in 2019.