泰国PCB行业，强势崛起

Core Viewpoint - Thailand is rapidly becoming a significant hub for PCB manufacturing, driven by the demand from the AI supply chain and investments from major companies, particularly from China and Taiwan [5][6][7]. Group 1: Industry Expansion - Victory Giant Technology (VGT) is expected to order approximately 100 new machines to expand its capacity in Thailand and Vietnam [2]. - Nearly 60 PCB manufacturers from mainland China and Taiwan have established new production bases in Thailand within three years, including major players like Unimicron and Zhen Ding [6][7]. - The Thai PCB industry is projected to grow from $3.5 billion in 2024 to $5.62 billion by 2030, with a compound annual growth rate of 7.6%, surpassing the global average [12]. Group 2: Investment and Market Dynamics - Nvidia's acquisition of a PCB factory in Thailand marks a significant investment in the region, with the factory set to begin operations soon [2]. - The geopolitical tensions between Washington and Beijing are accelerating the trend of supply chain diversification, prompting global tech giants to look beyond China for assembly and key components [6][7]. - Despite the influx of new investments, the Thai PCB ecosystem remains immature, with many necessary materials and equipment still needing to be imported [14]. Group 3: Challenges and Workforce Issues - There is a significant cultural gap between local Thai workers and incoming PCB manufacturers from China and Taiwan, affecting operational efficiency [10]. - The demand for engineers in the PCB sector is high, particularly for those who can speak Chinese, leading to a competitive talent market [11]. - Experienced production line managers' salaries have doubled in the past two to three years, reflecting the intense competition for skilled labor [11]. Group 4: Future Outlook - The expansion of PCB manufacturing in Thailand is seen as a critical component of companies' capital expenditures aimed at capturing the growing demand related to AI [9]. - However, uncertainties in non-AI market demand and potential impacts from U.S. tariff policies pose risks to the sustainability of this growth [15].