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Global Printed Circuit Boards (PCBs) Industry

Global Printed Circuit Boards (PCBs) Industry

  • July 2020
  • 877 pages
  • ID: 5817751
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

A Black Swan Event for the Electronics Industry, COVID-19 Shaves Off US$4.8Billion from the PCBs Market

The global market for Printed Circuit Boards (PCBs) is projected to reach a revised US$76billion by the year 2027afterwitnessing aUS$4.8 billion erosion in market value in the year 2020. With several of the end-use industries now caught in the financial storm raised by the COVID-19 pandemic, the market for printed circuit boards (PCBs) is expected to slump in the year 2020. Manufacturers of electronic products are facing dual challenges of production bottlenecks as a result of supply chain disruptions and inability to deliver on backlogged orders and weak new orders as a result of soft consumer demand. Electronics supply chain already in state of flux in the pre-pandemic period by the U.S. and China trade and tariff war has been pushed into crisis with little preparation at the start of the pandemic in January 2020. With most electronic raw material supply dependent on Southeast Asian countries and China, over 75% of companies witnessed shipment delays which in the month of April rose to 3 to 5 weeks. The overall velocity of the value chain to perform and fulfill orders has reduced significantly. In addition, the pandemic has disrupted supply chains causing massive damage for manufacturing companies reliant on China for supplies. These supply chain disruptions will step up the pressure to decouple from China. Rethinking supply chains will spur the movement of production out of China, including for electronics. Consumer electronics manufacturing, followed closely by automotive and industrial electronics remain the worst impacted. With companies cancelling and delaying modernization plans and with IT budgets slashed, industrial electronics is also feeling the pain of the general slowdown. With most electronic companies expected to witness decline in sales and profitability, the semiconductor industry also remains impacted and likely to face short-term financial hardships. The global market for PCBs against this backdrop is expected to decline by -8.1 in 2020.

A rolling disaster, the pandemic has slowed down economic activity and has pushed the global economy into a steep recession. In addition to consumers, even governments are now facing rapidly depleting fiscal coffers. The financial ramifications for the world economy, is that over US$2 trillion is likely to be shaved off the global GDP as lost income. The asphyxiated economy has set into motion a cascading effect of a marked recession which is being felt by businesses and consumers alike. Global GDP is expected to dip into the red at -3% with the US economy shrinking by a shocking -5.9%. With roots in China, the world’s supply chains are facing unprecedented disruption & shutdown. Interwoven with a demand crisis, the supply chain shocks are exerting a compounded blow to manufacturing companies worldwide. Manufacturing PMI which started declining at the start of the pandemic shows no signs of improving with the recession now acting impeding early recovery. In the midst of this crisis, demand for industrial semiconductors, electronics and manufacturing automation technologies are taking a heavy blow as cash strapped companies struggle to cope.

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