European Printed Circuit Board Market Overview
The volume generated by the European printed circuit board market amounted to 4.933 million units in 2016 and is estimated at 6,152 million units by 2024, corresponding to a CAGR of 2.6% over the forecast period 2016-2024. Germany is the largest market for printed circuit boards in Europe and has a share of 22% in 2016. The country’s printed circuit board market is expected to grow 3.6% over the forecast period. Advances in the Internet of Things and the increasing adoption of smart devices are driving market growth.
Market outlook for European printed circuit boards
A printed circuit board (PCB) is a plastic sheet made of a non-conductive material such as plastic or fiberglass, to which copper leads and pads are attached. These copper lines allow electrical charge to flow through the various components such as transistors, capacitors and resistors that are systematically located on the circuit board. These successfully meet the need for an electronic device that can accommodate components in the smallest of spaces. PCBs are used in monitors, control systems, internal devices, and scientific instruments in medical applications. In consumer electronics, printed circuit boards are used in mobile devices, computer electronics, recording devices, entertainment systems, and home appliances. In the aerospace industry, they are used in navigation devices,
Market growth drivers for European printed circuit boards
Wearable electronics, flexible displays and medical applications as well as flexible technologies are increasingly driving the industry towards flexible and flex-rigid printed circuit boards. Flexible circuit board technology already outperforms rigid circuit boards in terms of sales growth. Miniature printed circuit boards enable the creation of mini portable solar panels for consumer applications including personal device charging, water heating, and Wi-Fi expansion, which is driving market growth.
Market challenges for European printed circuit boards
Most of the PCB waste generated cannot be recycled. This poses a major challenge for the market as different regulators in Europe have issued different regulations on the disposal of hazardous waste. Increased PCB disposal costs due to changes in e-waste regulations are also hampering market growth.