1. Industry Chain Analysis: From Raw Materials to End Applications

The PCB industry chain is divided into upstream (raw materials), midstream (manufacturing), and downstream (applications), with each link working together to support industry development:

Upstream Raw Materials
The core is copper clad laminate (CCL, accounting for 30%-40% of PCB costs), composed of copper foil (accounting for 39% of CCL costs), fiberglass cloth (18%), and resin (18%). Domestic suppliers have achieved self-sufficiency in low-to-mid-end raw materials, such as Nord Co., Ltd. and Jiayuan Technology in the copper foil field, and China Jushi and Honghe Technology in the fiberglass cloth field;

Midstream Manufacturing
Including PCB design, production, and surface mount assembly, domestic companies have a clear advantage in rigid and flexible boards, with representative companies including PENGDING HOLDING (7% global PCB market share), Dongshan Precision, and Shennan Circuits;

Downstream Applications
Covering consumer electronics (highest share), communication equipment, automotive electronics, AI servers, medical equipment, etc., among which AI servers and new energy vehicles are the fastest growing sectors in recent years.

2. Market Landscape: China Becomes the Largest Producer, High-End Products are Key
Global Production Capacity Shifts to China
Since 2006, China has surpassed Japan to become the world's largest PCB producer. The domestic market size is projected to reach 346.9 billion yuan in 2024, with a compound annual growth rate (CAGR) of 9% over the next five years (compared to a global CAGR of 6%).
Low Market Concentration, Significant High-End Gap
The global PCB industry's CR10 (top 10 companies) is only 36%, while the domestic CR5 is only 34%, exhibiting a "large but not strong" characteristic—overcapacity in low-to-mid-range rigid PCBs, and reliance on imports for high-end HDI and IC substrates (domestic IC substrate market share is less than 10%).
Rapid Growth in High-End Products
According to Prismark's forecast, from 2023 to 2028, the CAGR for multilayer PCBs with 18 or more layers in China will reach 9%, HDI boards 6%, and IC substrates 7%, with the high-end sector becoming the core of growth.

It is precisely because of the significant shortage of high-end PCB talent that systematic skills training is even more valuable. FanYi Education's training system aligns with actual enterprise needs, helping learners quickly adapt to project requirements after joining the workforce and confidently handle technical challenges in ultra-high-speed scenarios, filling the market gap for high-end PCB talent.

3. Development Trends: AI-Driven Demand, Accelerated Domestic Substitution

AI Servers Drive High-End Demand
AI servers require high-multilayer PCBs with 20 or more layers, costing 3-5 times more than ordinary server PCBs. Currently, domestic manufacturers (such as Hudian Technology and Shenghong Technology) have begun mass production of high-end products.

Automotive Electronics Opens New Space
The PCB usage in new energy vehicles is 2-3 times that of traditional fuel vehicles (intelligent driving requires more sensors and control circuits). The global automotive PCB market size is expected to exceed $10 billion by 2025.

Continued Breakthroughs in Domestic Substitution
Domestic companies are increasing R&D investment in IC substrates and high-frequency, high-speed boards. Shennan Circuits and Xingsen Technology have already achieved mass production of some IC substrates and are expected to break the overseas monopoly in the future.