1. Global PCB market value is projected to hit $92.36B in 2025 (+15.4% YoY) and surge to $105.2B in 2026 (+13.9% YoY) — a historic breakthrough of the $100B mark. This milestone isn’t just a number; it’s proof that AI-driven demand is reshaping the electronics supply chain’s value hierarchy.
2. AI servers & high-performance computing (HPC) are the core drivers fueling the industry’s shift toward high-end, high-value development. From data centers to edge computing, the hunger for faster, more efficient hardware is pushing PCB manufacturers to invest in advanced materials and precision manufacturing.
3. Consumer electronics divergence: Global PC shipments to decline 2.4% YoY in 2026, with a mere 0.9% CAGR from 2025-2029, indicating a fragile recovery. This split highlights the need for PCB players to balance consumer and enterprise segments — doubling down on high-margin AI/HPC while optimizing cost structures for consumer electronics.
4. AI infrastructure boom: Global IT spending on AI infrastructure is set to reach $2.3T by 2029, boasting a 23.6% CAGR. For PCB makers, this isn’t just short-term growth; it’s a multi-year opportunity to lock in long-term partnerships with cloud providers and chip giants.
5. NVIDIA’s new architectures (Blackwell/Rubin) will keep CoWoS-related capacity tight long-term, pushing the industry to adopt CoWoS-R/L new architectures. Manufacturers that can master these advanced packaging solutions will gain a significant competitive edge in the AI supply chain.
6. Silicon interposers face yield decline and cost hikes, directly boosting demand for ABF substrates. This bottleneck is creating a gold rush for suppliers with proven expertise in high-reliability substrates — a space where quality and scalability will win.
7. Glass substrates emerge as the key to breaking large-size packaging bottlenecks — SKC, Samsung, and Intel have launched mass production layouts. As AI chips grow more complex, glass substrates could redefine the future of packaging, and early movers in this space stand to capture substantial market share.
8. Taiwanese manufacturers leverage vertical integration advantages in substrate manufacturing & packaging/testing to secure a critical position in the AI/HPC packaging supply chain. Their ability to integrate upstream and downstream processes makes them indispensable partners for global tech leaders — a competitive moat that’s hard to replicate.
9. PCB makers benefit from AI server demand but must remain vigilant of risks from underwhelming consumer electronics recovery and geopolitical uncertainties. Diversification across end markets and regions will be critical to navigating volatility in the years ahead.
 
From my perspective, the PCB industry is no longer just a “commodity” sector — it’s a strategic enabler of AI innovation. The shift toward high-end substrates and advanced packaging means that technical expertise and supply chain resilience will be the biggest differentiators moving forward. Excited to see how this space evolves as AI continues to scale!