PCB is short for Printed Circuit Board. It is widely utilized to offer mechanical support for fixing and assembling components such as transistors, integrated circuits, resistors, capacitors and inductors, and realize electrical connection as well as electrical insulation among these components.

▲ PCB Industrial Chain and Its Electronic Chemicals 

  Source: GF Securities, public materials, Zui You Liao

Electronic chemicals applied in PCB manufacturing include photoresists, high‑purity reagents, PCB resins (substrates), special gases and so on.

▲ Rising Global Share of PCB Output Value in Chinese Mainland

 Source: Prismark, Zui You Liao

Before 2000, 70% of the global PCB output value was concentrated in three regions: Europe, the Americas (mainly North America) and Japan. Along with continuous industrial chain transfer, Asia’s PCB output value reached 54.138 billion US dollars in 2017, accounting for 92% of the global total. Asia dominates the global PCB market, and Chinese Mainland has become the world’s largest PCB production base, with its output value hitting 29.732 billion US dollars in 2017.

Meanwhile, over the past decade, PCB production capacity within Asia has been rapidly shifting from Japan and other Asian regions to Chinese Mainland. The PCB output value of Chinese Mainland rose from 15.037 billion US dollars in 2008 to 29.732 billion US dollars in 2017. With deepening integration into the global economy, China has gradually secured nearly half of the global PCB market share.

China has grown into the world’s largest manufacturer of mobile phones and personal computers. Driven by the transfer of the whole semiconductor industry, the supporting electronic‑chemicals sector is embracing unprecedented opportunities.