Driven by the strong recovery of the global economy and growing consumption, the output value of PCB worldwide in 2021 totaled US$85.4 billion, with a growth rate of 22.6%, which is viewed as quite unusual considering the trajectory of the past few years. To explore the reasons for this, the expansion of high-end computing and 5G products has provided strong support for PCB, while automotive electronics has also grown significantly in both quantity and quality, which has intensified its strength.
　　Mainland China continues to sustain a high growth rate in 2021, but the growth rate in Taiwan, South Korea, China, and Japan has been similar due to the assistance from Japan and South Korea, providing substrate and also the introduction of dual-mode (or bi-mode) locomotives with HDI and substrate in Taiwan.
　　Even if mainland China is actively working to catch up, terminal product demands in 2021 have been rather beneficial to the variety of goods produced in Taiwan, Japan, and South Korea. In terms of market share, Japan and South Korea have stabilized, whereas the growth rate of mainland China has also slowed down rather significantly.
　　Having watched the trend changes in output value over the past five years, we have noticed that the output of PCB from mainland China has always been able to maintain double-digit growth, which can mostly be attributed to the consistent investments by trade manufacturers annually. Assistance in this area has also come from high and consistent demand in the domestic market, including local brands, particularly with motor vehicles, 5G products, Netcom servers, mobile phones, and laptops which have all been successful products in terms of trade.
 PCB in mainland China is maintaining its position on the trajectory of rapid growth.
　　The expansion of mainland factory investments in the past two years has remained stable, with good results in 2021. Most PCB manufacturers have achieved a rather favorable growth rate for their businesses. Nonetheless, the growth rate of the benchmark manufacturers such as Dongshan Precision and Shennan Circuits is significantly lower than average, thus suppressing the overall output value. This is also the primary reason for the decline in factory investments in the greater market share on the mainland in 2021.
　　For the complete download of the analysis: Asian PCB Industry Competitiveness Research of Asia, 2021- The Chinese Capital Is Catching Up Both in Quantity and Quality"