Thailand and Vietnam to Emerge as World-Class PCB Hub

In the global electronics industry where technology superpowers are fiercely competing to develop artificial intelligence (AI), Thailand has emerged as an attractive destination for foreign investors who are shifting away from China due to pressure from the United States to become a production hub of global printed circuit board (PCB).

The Thailand Board of Investment (BOI) reported that from January 2023 to September 2024, there were 95 investment projects in the Thai PCB industry, with a total investment value of 162 billion baht (approx. US$ 5 billion). These projects include investments from existing manufacturers based in Thailand, such as Mektec (Japan), Fujikura (Japan), Hansol (Korea), Delta Electronics (Taiwan), Cal-comp Electronics (Taiwan), and KCE (Thailand). New PCB manufacturers have also decided to invest in and establish new production bases in Thailand. This is particularly true for companies from China and Taiwan, such as the ZDT, Unimicron, Compeq, WUS, Gold Circuit, Chin Poon, Dynamic Electronics, Unitech, Multi-Fineline, and Well Tek groups.

Meanwhile, NIKKEI ASIA reported that Victory Giant Technology (VGT), a major Chinese PCB manufacturer and a key supplier to Nvidia chips, is accelerating the installation of new equipment at its second Thai factory in Phra Nakhon Si Ayutthaya Province. Taiwan's Industry, Science, and Technology International Strategy Center estimates that the value of PCB production in Thailand will grow from US$3.5 billion in 2024 to US$5.62 billion by 2030, representing a compound annual growth rate (CAGR) of 7.6% which exceeds the global average.

The Kasikorn Research Center indicates that the relocation of production bases has stimulated the upgrade of Thai PCB industry to more advanced technology. Most initial investment projects focused on multi-layer PCBs for high-performance electronic devices such as electric vehicles. However, starting in 2023, Thailand has begun investing in High Density Interconnection (HDI) PCBs, which are high-density circuit boards for small devices such as smartphones and satellites.

In addition to these opportunities for PCB supply chain manufacturers, challenges also arise, as Kasikorn Research Center identifies. These include an absence of government policy regarding potential environmental issues, uncertainty surrounding the US trade war, and the consideration of future investments by foreign companies already established in Thailand.

Another ASEAN country attracting interest as a PCB production base, aside from Thailand, is Vietnam. The Vietnam PCB Market In-Depth Research and Analysis Report 2021-2025 indicates that in recent years, major Japanese PCB manufacturers such as Nitto Denko, Sumitomo Bakelite, Fujitsu, Meiko, Maruwa, and Fujikura have gradually invested in factories in Vietnam. The trade war between the US and China has also led several PCB manufacturers from China and the US, including Nokia, Intel, Foxconn, LG, and Samsung, to set up factories in Vietnam to cut down on export tariffs.

These statistics point to the opportunity for Thailand and Vietnam to emerge as the major PCB manufacturing hubs in the region and globally. This means the opportunities are opening wide for industry players to seize. Don't miss industry news like this and other electronics trends from the future NEPCON Blogs, and connect with industry partners, as well as technologies and machinery to enhance electronics manufacturing efficiency at NEPCON Thailand 2026 - ASEAN’s Most Comprehensive Event for Electronics Parts Manufacturing during 17-20 June 2026 at BITEC, Bangkok.