The growth of electronics industries continues to take place across global markets, and printed circuit boards play a central role in their expansion. From medical devices to military equipment and a huge range of consumer applications, PCBs can be found everywhere. Let's take a closer look at PCB markets and highlight a few of the factors driving this segment forward.
Exceptional growth rates
Recent expansion in PCB markets is unprecedented, as revealed in a recent article from MedGadget. The source pointed to research from Brisk Insights showing that the industry is predicted to experience a compound annual growth rate of 3.63 percent from 2015 to 2022.
The report breaks down the development of PCB manufacturing across verticals including radio electronics, health care, aerospace and defense, consumer and industrial electronics. It's clear that the growth of these individual industries is placing serious demand on PCB manufacturers, who must keep up with the pace of expansion by leveraging new technologies and processes.
For example, the report highlighted a number of materials that are seeing more use in the modern PCB manufacturing arena. BT-epoxy and polyimides are becoming more popular and are keeping pace with traditional options such as FR-4. Manufacturers that can strike a balance of quality and volume with these materials will surely have a competitive advantage moving forward.
"Global digitization is driving PCB market growth."
Changes taking place
Of course, there are broader developments occurring in the global economy that fuel the growth of the PCB marketplace. Widespread digitization in the consumer and enterprise realms means that electronics are now standard, and even third-world markets are driving demand for PCBs. It won't be long before circuit boards are considered an essential component in every conceivable vertical.
Other major drivers of the industry are wide use of internet which is in turn increasing the market for the industry also e-waste collection goals and government laws will help in growth of recycled PCB market, suggests market research according to Medgadget.
While the Brisk Insights report stated that European and North American manufacturing has seen a dip in recent years, there are still a number of advantages for sticking to domestic PCB production partners. Find out more about how VR industries can help you meet the manufacturing demands of your business and take advantage of a global market in need of superior electronics products.