The Taiwan Circuit Board Association (TPCA) pointed out that the global output value of circuit boards in 2022 will be 88.2 billion US dollars, and there is still an annual growth rate of 3.2%. 3% growth.

The Taiwan Circuit Board Association (TPCA) issued a press release today stating that under the influence of persistent negative factors such as international conflicts, high inflation, and high inventory, the optimistic atmosphere in 2021 will change in 2022, especially in the second half of 2022. Consumer demand Due to the sluggishness, the performance of many companies has declined, and the results of optimistic growth in the first half of the year have almost been exhausted. It is estimated that the global PCB output value will be US$88.2 billion in 2022, with an annual growth rate of 3.2%. Compared with 22.5% in 2021, the momentum will weaken significantly.

Facing the revision of the general environment and the impact of the international situation, TPCA observed that the electronics industries in Taiwan, Japan, and South Korea are facing the same situation. As the supply and demand of wafers have not yet stabilized, the carrier board has become the locomotive to offset the negative factors and even boost the growth.

TPCA stated that the strong demand for high-speed computing and the continuous upgrading of terminal product specifications are the reasons why the performance of global PCBs is significantly better than the trend of terminal sales, especially Ibiden, Shinko, Samsung Electro-Mechanics (SEMCO), For Japanese and Korean companies such as LG Innotek, the revenue of substrates accounts for more than 90% of their PCB business. In other words, the growth almost comes from the contribution of substrates; The growth of net profit slowed down significantly.

Although the carrier board has been thriving in recent years, with the economic reversal in the second half of 2022, the growth of BT carrier boards, which are mainly used in consumer products, has weakened in the fourth quarter of last year. There is noise. Therefore, although the carrier board is more optimistic than other types of PCB products in 2023, it can be expected that the growth will slow down, and the force to boost the overall global output value will also weaken.

Looking forward to 2023, TPCA pointed out that due to the poor outlook for the overall economy, the demand forecast for terminal electronic products tends to be conservative. The destocking in the first half of this year may lead to continued sluggish sales, and there is a chance to gradually increase in the second half of the year; in 2023, the global terminal Product volatility will slow down, showing a small decline.

TPCA said that optimistically, when inflation slows down, economic and consumer demand is expected to resume growth in the second half of the year, so the global PCB output value still has a chance to maintain a slight growth of 3%, and the total output value is 90.8 billion US dollars; The International Monetary Fund (IMF) predicts that one-third of the world's economies will fall into recession, and the overall PCB output value will not rule out shrinking. It is prudently estimated that the global PCB will bring about a 4% recession, with a total output value of about 84.7 billion US dollars.

In addition, TPCA said that in the past three years, due to the impact of the epidemic and international political turmoil, the layout of the global supply chain has been shifted. For example, the US chip law has accelerated the return of the semiconductor supply chain to the Americas; under the customer's request to disperse geographical risks, the PCB industry has increased its exposure to Southeast Asia such as Thailand. , Vietnam, and Malaysia, the new layout of the global industrial chain has been fermented after the epidemic.

At the same time, extreme weather has become a global risk, and low-carbon transformation has become a key issue for corporate survival. Observing the PCB industry, the index companies that have clearly revealed their phased carbon reduction goals include Zhending Technology, Xinxing Electronics, Yaohua Electronics, and Taijun Technology.