Abstract: In the first half of 2023, the PCB industry is full of opportunities and challenges. The investment in circuit board projects in China (including Taiwan) is about 140 billion yuan, a year-on-year decrease of 40.4%.

In the first half of 2023, the PCB industry is full of opportunities and challenges. Affected by the continued weakness of the global economy, in the downstream applications of circuit boards from January to June 2023, the demand for consumer electronics will shrink, including the decline in demand for smartphones, tablets, home appliances, wearable devices, and entertainment equipment for video halls; After the stay-at-home economy ebbed, sales of PCs declined, and the industry as a whole was under greater pressure to destock.

At the same time, benefiting from telecommunications infrastructure and low-orbit satellite communications, China Netcom products have grown against the trend. The automotive field benefited from the continuous increase in the penetration rate of global electric vehicles and the electronicization of automobiles, and the automotive PCB products maintained a steady growth. In the server field, the strong demand for AI servers also drives the rapid growth of PCB demand.

Overall, the investment amount of China's circuit board industry in the first half of this year showed a downward trend. According to the statistics of CINNO Research, the investment amount of circuit board projects in China (including Taiwan) from January to June 2023 was about 140 billion yuan, a year-on-year decrease of about 40.4% .

Subdivided flow of internal funds in the circuit board industry:

From January to June 2023, investment funds in the circuit board industry in China (including Taiwan) mainly flowed to high-layer boards, with an amount of about 82.6 billion yuan, accounting for 58.3%; the total investment in IC substrates was about 25.5 billion yuan, accounting for The ratio is 18.1%; the total investment in copper clad laminates is about 17.3 billion yuan, accounting for 12.2%; the total investment in FPC is about 9.4 billion yuan, accounting for 6.6%.

Regional distribution of circuit board project investment funds:

From January to June 2023, the investment funds of circuit board projects in China (including Taiwan) are mainly in Jiangxi, Guangdong and Jiangsu, accounting for about 50.7% of the total. Among them, the total investment amount in Jiangxi is about 31.4 billion yuan, accounting for 22.2%; the total investment amount in Guangdong is about 21 billion yuan, accounting for 14.8%; the total investment amount in Jiangsu is about 19.5 billion yuan, accounting for 13.8%.

As a bridge that carries electronic components and connects circuits, circuit boards, as the "mother of electronic products", have always been concerned about their development prospects. With the rapid development of global electronic information technology, various new technologies and new products in the fields of big data, industrial Internet, artificial intelligence, wearable devices, and new energy vehicles continue to emerge. The PCB industry is increasingly showing rapid changes in downstream demand and product iteration. The application scenarios will continue to be enriched due to the characteristics of short cycle times, new products emerging, and increased demand for high-precision and higher-performance PCBs.