Once again, we present the highly anticipated NTI report on the PCB industry in 2023. Dr. Hayao Nakahara, USA, has once again compiled a wealth of facts and figures that are second to none.
1. introduction
It is not particularly difficult to determine the PCB production of leading manufacturers if they are listed on the stock exchange. However, it is a challenge to find out the sales of even listed manufacturers in China and South Korea, as their financial reports are often inaccurate. Then there are many manufacturers whose production is believed to be more than $100 per year that are privately owned and usually disclose their financial position. It is also not easy to find out the 'separate PCB sales' of some large manufacturers (e.g. Sanmina, Amphenol, etc.). So the author has to make a lot of assumptions.
Due to the falling exchange rate against the dollar, Japanese manufacturers lost their previous ranks. From 2000 to 2018, the average yen maintained the value of ¥110 against the dollar. In 2023, the average yen against the dollar was ¥142. At a 2015 exchange rate, for example, Japanese manufacturers' production would have been 30% higher and so would their ranking. There is simply nothing the author can do about the exchange rates. At the time of writing, the exchange rate is ¥156/$, which attracts more tourists to Japan than before the COVID pandemic.
In addition to the 2023 NTI 100 list, the 2022 list is included for comparison. Roughly speaking, manufacturers in Taiwan, China, Japan and South Korea account for the lion's share (> 90%).
Tab. 1: Average exchange rates: local currency / $
2. exchange rates
The Japanese yen has lost value and continues to do so. Experts claim that one of the main reasons for this is that the Japanese government has maintained a zero interest rate policy for too long, while other major countries have raised interest rates. When the author traveled to Japan in June with dollars ($), every good seemed much cheaper compared to prices a few years ago.
3. ceramic circuits
Readers will note that Kyocera's production has jumped since 2022 as it has added production of ceramic package substrates. NTK is a new addition to this list. The inclusion of ceramic circuits is a preparation for the upcoming inclusion of glass substrates. The author regrets not having identified other manufacturers of ceramic circuits that could be included in the list. It is therefore not as accurate as the author would have liked.
Ceramic substrates from Kyocera for electronic control units
Ceramic substrate materials
5. considerations for 2023
Compared to 2022, the number of 'top manufacturers' decreased by 8.5% in 2023. According to the voices of PCB manufacturers, material and device manufacturers, an increase of around 7-8% is 'expected' in 2024, which means that global production is expected to return to 2022 levels, see the author's summary of global PCB production. Of the top 25 manufacturers, DSBJ, Nippon Mektron, Kinwong, WUS, Meiko and Victory Giant are the only six manufacturers to see an increase in sales in 2023.
Several manufacturers from the 2022 list dropped out as their sales were less than $100 million - some Japanese manufacturers due to the exchange rate. The author is writing this report at Bangkok International Airport while waiting for a flight to Penang, Malaysia, where he is scheduled to visit several PCB manufacturers before returning to Bangkok on August 3. He will visit ten new PCB plants in Thailand before returning to New York.
The circuit exhibition, which took place in Bangkok from July 24-26, was small but extremely informative as far as current developments in Thailand are concerned. According to Thailand's Board of Investment (BOI), PCB production in Thailand could be the third or even the second largest in the world. From 2022 to 2026, about $6-7 billion will be invested in the PCB industry in Thailand (currently, more than 40 PCB manufacturers from Taiwan and China are crowding into Thailand). Whether Thailand is the second largest PCB manufacturing country could certainly be questioned - but that it is the third largest would not be an exaggeration. However, from a 'national perspective', KCE and some other small companies will account for less than 10% of total production. Taiwanese, Chinese and Japanese will get the lion's share of PCB production in Thailand.
The author will report in detail on Thailand's PCB industry - the employment situation, working conditions, wages, etc. - following the report for the first quarter of 2024.
Translation: Markolf Hoffmann
|
Region |
2021 |
2022 |
2023 |
|
North and South America |
3.400 |
3.520 |
3.210 |
|
Europe |
2.025 |
2.160 |
1.980 |
|
Middle East and Africa |
145 |
155 |
200 |
|
West (total) |
5.570 |
5.835 |
5.390 |
|
China |
54.205 |
56.720 |
54.000 |
|
Taiwan |
10.900 |
11.930 |
10.200 |
|
Japan |
5.945 |
6.560 |
5.590 |
|
South Korea |
7.220 |
8.570 |
7.760 |
|
Thailand |
3.175 |
3.350 |
3.050 |
|
Vietnam |
3.110 |
3.200 |
2.900 |
|
Rest of Asia and India |
1.250 |
1.340 |
1.200 |
|
Asia (total) |
85.805 |
91.670 |
84.700 |
|
Global (total) |
91.375 |
97.505 |
90.090 |
|
Note: approx. USD 8 billion comes from PCB assembly by PCB manufacturers Russia was not included (uncertain estimate approx. USD 250-300 million) |
|||
|
Rank in Europe |
NTI Report Rank |
Printed circuit board manufacturer |
Country |
Country Development |
2022 |
2023 |
|
1. |
10 |
AT&S |
Austria |
-10,7% |
1.938 |
1.730 |
|
2. |
72 |
Würth Electronics |
Germany |
11,4% |
224 |
250 |
|
3. |
74 |
Somacis |
Italy |
20,5% |
200 |
241 |
|
4. |
105 |
Swiss Electronics |
Germany |
6,4% |
142 |
151 |
|
5. |
118 |
KSG |
Germany |
-14,7% |
150 |
128 |
|
Rank |
Manufacturer |
Country |
Local name |
Growth rate |
2022 |
2023 |
|
1 |
Zhen Ding Technology |
Taiwan |
瑧鼎科技 |
-10,6% |
5.440 |
4.918 |
|
2 |
Unimicron |
Taiwan |
欣興電子 |
-25,9% |
4.510 |
3.340 |
|
3 |
DSBJ |
China |
東山精密 |
6,6% |
3.085 |
3.289 |
|
4 |
Nippon Mektron |
Japan |
日本メクトロン |
7,5% |
2.361 |
2.539 |
|
5 |
TTM Technologies, Inc |
U.S.A. |
TTM Technologies, Inc |
-10,5% |
2.495 |
2.232 |
|
6 |
Kyocera |
Japan |
京セラ |
-13,7% |
2.573 |
2.220 |
|
7 |
Compeq |
Taiwan |
華通電脳 |
-12,2% |
2.453 |
2.153 |
|
8 |
Shennan Circuits |
China |
深南電路 |
-3,3% |
1.978 |
1.913 |
|
9 |
Tripod |
Taiwan |
健鼎科技 |
-10,5% |
2.112 |
1.890 |
|
10 |
AT&S |
Austria |
AT&S |
-10,7% |
1.938 |
1.730 |
|
11 |
HannStar Board |
Taiwan |
瀚宇博徳 |
-9,9% |
1.997 |
1.646 |
|
12 |
Kinwong |
China |
景旺電子 |
2,3% |
1.487 |
1.521 |
|
13 |
Kingboard PCB |
China |
建滔集団 |
-2,5% |
1.531 |
1.493 |
|
14 |
Young Poong Group |
South Korea |
영풍그룹 |
-1,3% |
1.507 |
1.487 |
|
15 |
WUS Group (TW+CN) |
Taiwan |
楠梓電子(滬士電子） |
2,2% |
1.347 |
1.377 |
|
16 |
Nanya PCB |
Taiwan |
南亜電路 |
-34,7% |
2.076 |
1.356 |
|
17 |
Ibiden |
Japan |
イビデン |
-23,9% |
1.769 |
1.346 |
|
18 |
SEMCO |
South Korea |
삼성전기 |
-15,9% |
1.599 |
1.345 |
|
19 |
Meiko |
Japan |
メイコー |
7,4% |
1.181 |
1.268 |
|
20 |
BH Flex |
South Korea |
베에이치플렉스 |
-4,9% |
1.286 |
1.223 |
|
21 |
Victory Giant |
China |
勝宏科技 |
0,5% |
1.115 |
1.121 |
|
22 |
Flexium Technology |
Taiwan |
台群科技 |
-18,3% |
1.287 |
1.051 |
|
23 |
AKM Meadville |
China |
安捷利美維 |
-12,3% |
1.169 |
1.025 |
|
24 |
LG Innotek |
South Korea |
LG이노텍 |
-22,0% |
1.297 |
1.012 |
|
25 |
Gold Circuit (GCE) |
Taiwan |
金像電子 |
-8,4% |
1.054 |
965 |
|
26 |
Shinko Electric Ind |
Japan |
新光電気工業 |
-27,7% |
1.248 |
902 |
|
27 |
Kinsus |
Taiwan |
景碩科技 |
-36,8% |
1.362 |
861 |
|
28 |
Suntak |
China |
崇達科技 |
-1,7% |
830 |
816 |
|
29 |
Simmtech |
South Korea |
심텍 |
-38,4% |
1.299 |
798 |
|
30 |
Shenzhen Fast Print |
China |
深圳興森快捷電路 |
0,1% |
757 |
758 |
|
31 |
Nitto Denko |
Japan |
日東電工 |
-8,8% |
809 |
738 |
|
32 |
Daeduck Electronics |
South Korea |
대덕전자 |
-30,9% |
1.009 |
697 |
|
33 |
Sumitomo Elect Ind, |
Japan |
住友電気工業 |
-1,8% |
664 |
652 |
|
34 |
Olympic |
China |
世運電路 |
3,1% |
626 |
639 |
|
35 |
CMK |
Japan |
日本シーエムケー |
7,9% |
592 |
639 |
|
36 |
ASK PCB |
China |
奥士康 |
-5,1% |
645 |
612 |
|
37 |
Taiwan Techvest (TPT) |
Taiwan |
志超科技 |
-10,8% |
682 |
608 |
|
38 |
Fujikura |
Japan |
フジクラ |
-11,0% |
680 |
605 |
|
39 |
Chin Poon |
Taiwan |
敬鵬工業 |
-4,8% |
565 |
538 |
|
40 |
SI Flex |
South Korea |
에스아이플렉스 |
70,0% |
312 |
529 |
|
41 |
KCE |
Thailand |
KCE Electronics |
-11,4% |
588 |
521 |
|
42 |
Mutara Manufacturing |
Japan |
村田製作所 |
-4,0% |
525 |
505 |
|
43 |
Dynamic Electronics |
Taiwan |
定穎電子 |
2,9% |
491 |
505 |
|
44 |
Hongxin Electronics |
China |
弘信電子 |
24,6% |
395 |
492 |
|
45 |
Sun & Lynn |
China |
深聯電路 |
2,3% |
471 |
482 |
|
46 |
Unitech |
Taiwan |
燿華電子 |
-14,1% |
559 |
480 |
|
47 |
Shengyi Electronics |
China |
生益電子 |
-7,4% |
500 |
463 |
|
48 |
Isu/Petasys |
South Korea |
이수페타시스 |
-9,7% |
493 |
445 |
|
49 |
Ellington |
China |
依頓電子 |
1,9% |
432 |
440 |
|
50 |
Founder PCB |
China |
方正印刷電路 |
-10,3% |
476 |
427 |
|
51 |
GD Keixiang Kingshine |
China |
広東科翔電子 |
9,7% |
373 |
419 |
|
52 |
Guangdong XD Group |
China |
広東興達(佳康集団) |
12,3% |
373 |
419 |
|
53 |
Bomin Electronics |
China |
博敏電子 |
0,0% |
412 |
412 |
|
54 |
APEX International |
Taiwan |
泰鼎電路 |
-15,4% |
479 |
405 |
|
55 |
Kyoden |
Japan |
キョウデン |
8,6% |
372 |
404 |
|
56 |
Gul Technology |
Singupur |
Gul Technology |
-14,0% |
455 |
391 |
|
57 |
CCTC |
China |
汕頭超声印製板 |
-6,9% |
419 |
390 |
|
58 |
Delton Technology |
China |
広州広合科技 |
41,9% |
267 |
379 |
|
59 |
China Eagle (CEE) |
China |
中京電子 |
-14,1% |
432 |
371 |
|
60 |
Wuzhu |
China |
五株科技 |
-13,6% |
420 |
363 |
|
61 |
Guangdong Junya |
China |
広東駿亜電子 |
-5,7% |
369 |
348 |
|
62 |
Sanmina Corporation |
U.S.A. |
Sanmina Corporation |
0,0% |
340 |
340 |
|
63 |
Red Board |
China |
紅板 |
6,8% |
311 |
332 |
|
64 |
Career Technoogy |
Taiwan |
嘉聯益科技 |
-33,2% |
473 |
316 |
|
65 |
DAP |
South Korea |
디에이피 |
20,8% |
255 |
308 |
|
66 |
Toppan Printing |
Japan |
凸版印刷 |
33,3% |
225 |
300 |
|
67 |
Ichia Technology |
Taiwan |
毅嘉科技 |
11,8% |
246 |
275 |
|
68 |
Lincstech |
Japan |
リンクステック |
-6,9% |
290 |
270 |
|
69 |
MFS |
Singapore |
MFS Singapore |
3,6% |
261 |
270 |
|
70 |
FICT |
Japan |
エフアイシーティー |
-5,5% |
275 |
260 |
|
71 |
Transtech |
China |
江蘇伝芸科技 |
-11,3% |
283 |
251 |
|
72 |
Würth Electronics |
Würth Elektronik Germany |
Würth Electronics |
11,4% |
224 |
250 |
|
73 |
ACCESS |
China |
珠海越亜半導体 |
2,1% |
237 |
242 |
|
74 |
Somacis |
Italy |
Somacis |
20,5% |
200 |
241 |
|
75 |
Summit Interconnect Tech |
U.S.A. |
Summit Interconnet Tech |
20,0% |
200 |
240 |
|
76 |
Shenzhen Sunshine |
China |
深圳明陽電路 |
-16,2% |
278 |
229 |
|
77 |
Taihong Circuit Industry |
Taiwan |
台豊印刷電路工業 |
-24,0% |
387 |
218 |
|
78 |
STEMCO |
South Korea |
스템코 |
-15,0% |
241 |
210 |
|
79 |
Onpress |
China |
安柏電路 |
0,0% |
208 |
208 |
|
80 |
Shirai Denshi |
Japan |
シライ電子 |
-12,4% |
233 |
204 |
|
81 |
APCB |
Taiwan |
競国実業 |
-13,9% |
234 |
192 |
|
82 |
Amphenol PCB |
U.S.A. |
Amphenol PCB |
5,5% |
180 |
190 |
|
83 |
Camelot PCB |
China |
金淥電路科技 |
-10,9% |
211 |
188 |
|
84 |
Haesung DS |
South Korea |
해성디에스 |
-19,0% |
223 |
187 |
|
85 |
Shihui Fushi |
China |
四会富仕電子科技 |
8,1% |
172 |
186 |
|
86 |
Hyunwoo |
South Korea |
현우 |
13,0% |
161 |
182 |
|
87 |
Daisho Dennshi |
Japan |
大昌電子 |
-10,0% |
201 |
181 |
|
88 |
Jiangxi Union Gain |
China |
江西聯益電子科技 |
7,7% |
168 |
181 |
|
89 |
APCT |
U.S.A. |
APCT |
50,0% |
120 |
180 |
|
90 |
Synopex (Vietnam) |
South Korea |
시노펙스 |
14,7% |
157 |
180 |
|
91 |
SZ Jove Enterprize |
China |
深圳中富電路 |
-19,6% |
173 |
175 |
|
92 |
Kyosha |
Japan |
京写 |
0,0% |
173 |
173 |
|
93 |
Putian Technology |
China |
中電科普(広州杰賽） |
2,0% |
187 |
206 |
|
94 |
Jia Li Chuang |
China |
先進電子(珠海) |
-9,2% |
174 |
158 |
|
95 |
Liang Dar |
Taiwan |
良達科技 |
4,2% |
167 |
174 |
|
96 |
Palwon |
Taiwan |
競華電子 |
54,0% |
113 |
174 |
|
97 |
Ji'An Munkan |
China |
吉安満坤科技 |
17,8% |
146 |
172 |
|
98 |
Leader-Tech |
China |
深圳上達電子 |
5,8% |
156 |
165 |
|
99 |
SZ Topreach Sci-Tech |
China |
深圳至誠合電子 |
6,7% |
150 |
160 |
|
100 |
Changzhou Auhong |
China |
常州澳弘電子 |
-6,1% |
163 |
153 |
|
101 |
Glorysky |
China |
恵州市特創電子 |
-4,9% |
163 |
155 |
|
102 |
SZ Konka Circuits |
China |
深圳康佳電路 |
-6,3% |
165 |
155 |
|
103 |
NTK |
Japan |
日本特殊陶業 |
-4,3% |
163 |
156 |
|
104 |
SZ Minzhenhung |
China |
広東明正宏電子 |
-3,2% |
155 |
150 |
|
105 |
Swiss Electronics |
Germany |
Swiss Electronics |
6,4% |
142 |
151 |
|
106 |
Kunshan Huanxing Grp |
China |
昆山華新電子集団 |
-19,8% |
187 |
150 |
|
107 |
New Flex |
South Korea |
뉴플렉스 |
-25,0% |
187 |
150 |
|
108 |
Jiangxi ZLE |
China |
江西中絡電子 |
3,5% |
144 |
149 |
|
109 |
First Hi-Tech |
Taiwan |
高技企業 |
35,0% |
104 |
140 |
|
110 |
Kunshan Wanyuanton |
China |
昆山万源通電子科技 |
11,0% |
125 |
139 |
|
111 |
Xusheng Electronics |
China |
江西旭昇電子 |
7,8% |
128 |
138 |
|
112 |
Brain Power |
Taiwan |
欣強科技 |
16,0% |
119 |
138 |
|
113 |
Jiangxi Xusheng PCB |
China |
江西旭昇電子 |
0,0% |
138 |
138 |
|
114 |
Jinagsu Difeida |
China |
江蘇迪飛達電子 |
-8,8% |
137 |
125 |
|
115 |
SZ Xinyu Tengye |
China |
深圳新宇騰跌電子 |
-8,8% |
137 |
125 |
|
116 |
Oki Printed Circuit |
Japan |
沖PCB |
-7,5% |
146 |
135 |
|
117 |
TLB |
South Korea |
티엘비는 |
-22,3% |
170 |
132 |
|
118 |
KSG |
Germany |
KSG |
-14,7% |
150 |
128 |
|
119 |
Forewin FPC |
China |
福菜盁電子 |
-9,9% |
142 |
128 |
|
120 |
Dongguang Hongyuen |
China |
東莞康源電子 |
-18,0% |
155 |
127 |
|
121 |
Xiamen Guangpu Elec. |
China |
光苒電子股份 |
7,7% |
117 |
126 |
|
122 |
Fuchnagfa |
China |
信豊福昌発 |
1,6% |
125 |
127 |
|
123 |
Aikokiki |
Japan |
愛工機器 |
-14,5% |
145 |
124 |
|
124 |
Jiangsu Suhhang |
China |
江蘇蘇杭電子集団 |
-4,9% |
122 |
116 |
|
125 |
Welgao |
China |
江西威尓高電子 |
-0,8% |
118 |
116 |
|
126 |
Longteng Electronics |
China |
湖北龍騰電子 |
14,8% |
102 |
117 |
|
127 |
Trustech |
China |
深圳全成信電子 |
0,0% |
113 |
113 |
|
128 |
HT Circuit |
China |
永捷電子 |
1,3% |
111 |
113 |
|
129 |
Zejiang Leuchtek |
China |
浙江羅奇泰克科技 |
7,6% |
105 |
113 |
|
130 |
Shinko Manufacturing |
Japan |
伸光製作所 |
3,8% |
106 |
110 |
|
131 |
Song Shan Electronics |
Taiwan |
松山電子 |
-25,2% |
143 |
107 |
|
132 |
SZ Star River |
China |
深圳市星河電路 |
6,0% |
100 |
106 |
|
134 |
Shenzhen QD Circuit |
China |
深圳強達電路 |
0,0% |
104 |
104 |
|
Total |
-8,60% |
85.092 |
77.735 |
|||
|
(Dr. Hayao Nakahara/N.T. Information Ltd, September 2023) |
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