If we sum up the global PCB industry in 2025 in one sentence, it would be: driven by the robust momentum of AI, the sector is showing clear trends of high-end market concentration, capacity spillover to emerging regions, and accelerated material upgrades. In 2025, the PCB industry is undergoing profound transformation, with geopolitics, technological iteration, and supply chain restructuring reshaping the global landscape. Let’s take a closer look at the key developments shaping the industry this year.
PCBA 1
According to data released by N.T. Information Ltd. in July 2025, Asia remains the unshakable core of the global PCB industry.
Highly concentrated production output: Four major economies—mainland China, Taiwan China, Japan, and South Korea—accounted for 92% of global PCB production in 2024. This concentration is expected to further solidify in 2025.
Mainland China: Massive scale with rapid growth. In 2024, mainland China’s PCB output reached $30.077 billion, registering a year-on-year growth of 24.3%—the fastest among all major regions. Its huge domestic demand market and mature supply chain have firmly established its position as the world’s manufacturing hub.
Taiwan China: A fortress of high-end technology. Leading Taiwanese manufacturers such as Advanced Semiconductor Engineering (ASE) and Unimicron maintain technological leadership in IC substrates, High-Density Interconnect (HDI) boards, and server motherboards. With an output of $25.588 billion in 2024, accounting for 30% of the global market share, Taiwan China is an indispensable core force in the high-end PCB segment.
Japan & South Korea: Focus on cutting-edge and specialty sectors. Japanese manufacturers boast profound expertise in IC substrates and ceramic substrates, while South Korean players excel in smartphone HDI boards and are actively expanding into the AI server market.‘
PCBA 2
To mitigate supply chain risks, the “China + 1” strategy has moved from blueprint to large-scale production in Southeast Asia in 2025.
Thailand emerges as the biggest beneficiary. With a stable business environment and favorable policy support, Thailand has attracted heavy investment from PCB enterprises in mainland China and Taiwan China. Its PCB output value reached $3.6 billion in 2024 and is projected to exceed $4 billion in 2025, making it the world’s third-largest PCB production base.
Vietnam and Malaysia follow closely. Vietnam leverages cost advantages to attract Chinese manufacturers, while Malaysia relies on its solid industrial foundation to draw in international giants.
Challenges for new production bases. Talent shortages and currently higher production costs compared to China are practical hurdles that these emerging manufacturing hubs must overcome.
As a forward-looking PCB/PCBA solution provider, FUMAX closely tracks global market dynamics and capacity migration trends. We have established strategic layouts to serve customers in both mature markets and emerging regions, delivering high-quality products that meet diverse needs—from consumer electronics to AI servers.
Whether you need cost-effective standard PCBs or high-end HDI boards, FUMAX has the expertise to support your business growth.
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