Zheng Quan Shi Bao Wang·2025-08-28 23:26Core Viewpoint - The PCB industry is experiencing significant growth driven by demand from AI computing power and automotive applications, with many companies reporting substantial profit increases in the first half of the year [1][2]. Group 1: Industry Performance - Nearly 70% of PCB listed companies reported growth in net profit, with notable increases from companies like Shenghong Technology (up 367%), Junya Technology (up 333%), and Huazheng New Materials (up 328%) [2]. - The demand for high-end PCBs is being driven by emerging fields such as AI, new energy vehicles, and data centers, leading to a notable increase in high-frequency and high-speed copper clad laminate sales [2][3]. Group 2: Market Dynamics - The PCB market is projected to grow from $73.57 billion in 2024 to $94.66 billion in 2029, with a compound annual growth rate (CAGR) of 5.2% [4]. - The growth of AI servers and high-speed network infrastructure is expected to drive the demand for multilayer boards with more than 18 layers and HDI boards, with respective CAGRs of 15.7% and 6.4% from 2024 to 2029 [4]. Group 3: Cost Pressures - Rising copper prices have led to increased operating costs for PCB manufacturers, with over half of the companies experiencing a faster growth rate in operating costs compared to revenue [5][6]. - The PCB industry is facing pressure from rising raw material prices, particularly copper, which has been fluctuating at high levels this year [6]. Group 4: Capacity Expansion - Companies are actively expanding production capacity, particularly in Southeast Asia, with significant investments announced by firms like Jingwang Electronics and Shenghong Technology to enhance their high-end PCB production capabilities [7][8]. - Southeast Asia is becoming a key region for PCB manufacturers, with a projected CAGR of 7.8% from 2024 to 2029, as companies shift production from China [7][8].