US & Canada, March 24, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, "Substrate-Like PCB Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Line/Space, Fabrication Process, Application, and Geography", the global Substrate-Like PCB market is observing significant growth owing to innovation in PCB substrate materials and surge in demand for thermal management.
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The Substrate-Like PCB market was valued at US$ 2.97 billion in 2024 and is projected to reach US$ 7.16 billion by 2031; it is expected to register a CAGR of 13.4% during 2024–2031.
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Substrate-Like PCBs are applicable in a vast array of applications that are expected to register strength during the coming years.
Market Overview and Growth Trajectory:
Market Growth: The Substrate-Like PCB market is expected to reach US$ 7.16 billion by 2031 from US$ 2.97 billion in 2024, at a CAGR of 13.4 % during the forecast period. A substrate-like PCB (SLP or substrate-like printed circuit board) has similar properties to the semiconductor substrate. This PCB is developed for advanced IC packaging and ultra-high-density applications. Substrate-like PCBs incorporate features from both traditional circuit boards and semiconductor substrates to fulfill the consumers’ needs for modern electronics. These PCBs are highly incorporated in high-performance applications such as smartphones, wearables, computers, braking systems, ADAS, and other advanced consumer electronics to improve their performance. Substrate-like PCB offers high-density, high-performance, compact designs and is capable of satisfying the needs of current, miniaturized electronics. Furthermore, significant benefits offered by substrate-like PCBs, such as thermal management, high-density interconnects, and signal integrity by reducing electromagnetic interference (EMI), have increased their adoption in industries. Consumer electronics, automotive, medical, industrial, aerospace, and other industries are using substrate-like PCB to improve the electrical performance of devices and systems, thereby driving the market.
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High Demand from Consumer Electronics Industry: Substrate-like PCBs are widely used in industries that require very fine chip-scale packed ICs to coexist with regular ICs on the same substrate. The consumer electronics industry uses substrate-like PCBs in the manufacturing of smartphones, wearables, computers, televisions, refrigerators, air conditioners, displays, washing machines, and other devices. Substrate-like PCB technology helps design high-density interconnect (HDI) boards. Traditional printed circuit boards (PCBs) have a rigid, layered design with restricted routing possibilities, which limits miniaturization and performance. On the other hand, substrate-like PCBs provide a compact and more flexible design, allowing smartphone manufacturers to achieve higher component density in smaller, compact, and highly featured products demanded by consumers. In 2017, iPhone 8/X was the first smartphone to use substrate-like PCBs, which was built using a modified semi-additive process (MSAP) process. Apple’s iPhone X, iPhone 11 Series, iPhone 12 Series, iPhone 13 Series, and iPhone 14 Series are also equipped with substrate-like PCBs, which reduce 30% of the volume of the mainboard. Similarly, Samsung’s smartphones, including Galaxy S9, Galaxy S20, Galaxy S21, Galaxy S22, Galaxy S23, and Galaxy Z series, are incorporated with substrate-like PCBs. With more smartphone manufacturers incorporating substrate-like PCBs in their high-end versions of smartphones, the adoption of substrate-like PCBs is rapidly growing. This type of PCB provides the interconnects that are needed to integrate many components, such as CPUs, memory, and antennas in consumer electronics devices.
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Innovation in PCB Substrate Materials: Traditional materials such as ceramic have served as the foundation for PCBs. Recently, PCBs have been at the center of innovation in the electronic industry. Within this dynamic industry, PCB substrates such as epoxy resin, polytetrafluoroethylene (PTFE), glass fiber weave, flexible polymers, and other dielectric and insulating materials have transitioned from traditional materials to nanocomposite. These materials provide mechanical support and electrical insulation for the PCB's components. PCB substrates serve as the foundation for mounting conductive routes and electronic components supporting the conductive traces that allow electrical impulses to flow throughout the circuit. As electronics manufacturers focus on developing advanced devices, the adoption of PCB substrates among PCB manufacturers is increasing.
Geographical Insights: In 2024, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe. Asia Pacific is expected to register the highest CAGR during the forecast period.
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Substrate-Like PCB Market Segmentation, Applications, Geographical Insights:
- On the basis of line/space, the substrate-like PCB market is segmented into 25/25 and 30/30 µm and less than 25/25 µm. The 25/25 and 30/30 µm segment held the largest market share in 2024.
- On the basis of fabrication process, the substrate-like PCB market is segmented into MSAP and UV LDI. The MSAP segment held the largest market share in 2024.
- On the basis of application, the substrate-like PCB market is segmented into consumer electronics, automotive, industrial, medical, and others. The others segment held the largest share in the substrate-like PCB market in 2024.
- The Substrate-Like PCB market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
Key Players and Competitive Landscape:
The Substrate-Like PCB Market is characterized by the presence of several major players, including:
- Compeq Manufacturing Co., Ltd.
- Kinsus Interconnect Technology
- Samsung Electro-Mechanics Co Ltd
- AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
- Zhen Ding Tech. Group Technology Holding Limited
- TTM Technologies Inc.
- Korea Circuit
- Shenzhen Kinwong Electronic Co., Ltd.
- ICAPE Holding SA
- LG Innotek Co Ltd
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
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Substrate-Like PCB Market Recent Developments and Innovations:
- " ICAPE Group acquires NTW in Japan "
- " Kinwong multilayer PCB manufacturing method was selected as the 23rd China Patent Excellence Award "
- " DuPont and Zhen Ding Technology Group Sign Strategic Cooperation Agreement to Advance High-End Printed Circuit Board Technology Development "
- " Initiation of Construction of First Hight Tech Manufacturing in Southeast Asia
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Conclusion:
The rise in demand from the consumer electronics industry, customers' demand for thermal management, the expanding automotive industry, and manufacturers' focus on manufacturing EVs and autonomous cars are a few of the significant factors driving the substrate-like PCB market. Furthermore, increasing investment in smartphones, wearables, and wireless technology fuels the global demand for substrate-like PCBs. Additionally, innovative materials used in PCB substrates such as epoxy resin, polytetrafluoroethylene (PTFE), glass fiber weave, flexible polymers, and other dielectric and insulating materials that reduce thermal heat and the integration of 5G communication technology in business models are a few factors expected to create opportunities for the substrate-like PCB market growth during the forecast period. Moreover, an increase in research and development activities, the miniaturization of PCBs, and industrial demand for next-generation PCBs encourage manufacturers to focus on developing mini PCBs, contributing to the substrate-like PCB market growth.
The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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