PCB Orders Surge to Full Capacity | High-End HDI Becomes the Focus of Manufacturer Investment

PCB Orders Surge to Full Capacity | High-End HDI Becomes the Focus of Manufacturer Investment

In 2019, the PCB industry moved at a remarkable pace. Amid the uncertainty of the US-China trade war, leading PCB manufacturers — including Dingying, Tripod (Jianding), and Unimicron (Xinxing) — saw their August revenues reach record highs. The primary driver was the explosive order intake and shipment volume for high-end HDI (High-Density Interconnect) boards. The US-China trade war also played a significant role, as customers accelerated ordering and pulled shipments forward to avoid tariff risks. ONESEINE TECHNOLOGY CO.LTD also experienced booming order demand, and in response to 5G development and evolving market trends, the company has been ramping up mass-production capacity while developing high-precision, high-difficulty PCB capabilities — all to better serve existing customers and capture share in the fiercely competitive market.

This article examines why high-end HDI — particularly any-layer HDI and SLP (Substrate-like PCB) — has become the central focus of PCB industry investment, how the trade war and 5G are accelerating demand, and why manufacturers with advanced HDI technology are positioned to lead the next growth cycle.

1. Any-Layer HDI Emerges as the Mainstream Design Standard

The PCB industry has emphasized that current electronics products and PCB board designs are primarily planned around the HDI any-layer process, and this has even become the mainstream design trend for automotive boards. The migration from conventional HDI to any-layer interconnect (HDI any-layer) has seen significantly broader adoption over the past two years.

1.1 Understanding Any-Layer HDI Technology

Traditional HDI boards use stacked or staggered microvias that only connect adjacent layers, relying on through-holes for deeper connections — which limits routing density and consumes valuable board area. Any-layer HDI (also called "any-layer interconnect") enables microvias to connect any two layers in the stack-up, not just adjacent ones. This is achieved through sequential lamination cycles with laser-drilled microvias at every layer, delivering several key advantages:

Dramatically higher routing density — up to 30–40% more trace routing per unit area compared to traditional HDI, allowing more functionality in the same board footprint.

Thinner and lighter constructions — critical for smartphones, wearables, and portable electronics where every millimeter of thickness matters.

Superior signal integrity — shorter via stubs and more direct return paths reduce signal reflection and insertion loss at high frequencies.

More component space — freed board area accommodates additional sensors, cameras, battery capacity, or RF modules.

The history of any-layer HDI is instructive. This technology was first adopted by Apple in the 2010 iPhone 4, after being developed by PCB manufacturers in preceding years. Similar to the current situation with IC carrier boards, initial production volumes and market size were modest. However, within two years, market adoption accelerated significantly, and the technology has since evolved into a mature, widely deployed process. Today, any-layer HDI is standard in flagship smartphones, high-end tablets, and is increasingly adopted in automotive electronics, 5G communication modules, and advanced industrial devices.

1.2 Why Orders Are Concentrating in Large PCB Factories

Large PCB factories possess the capital and technology required to expand HDI production capacity and take on complex orders, resulting in a pronounced concentration of HDI orders toward larger manufacturers. The barriers to entry for high-end HDI are substantial:

Capital investment: HDI production requires UV and CO2 laser drilling systems, sequential lamination presses, high-precision LDI (Laser Direct Imaging) equipment, and advanced copper plating lines — representing tens of millions of dollars per production line.

Technical expertise: Any-layer HDI demands precise control of registration accuracy (often ±10μm or better across multiple lamination cycles), microvia quality (void-free, reliable copper filling), and dielectric thickness uniformity.

Yield management: With multiple sequential lamination cycles, yield compounds across each step — only manufacturers with mature process control can achieve cost-effective mass production.

Customer qualification: High-end HDI customers (smartphone OEMs, automotive Tier-1 suppliers, communication equipment vendors) require lengthy qualification cycles and proven quality track records.

This concentration dynamic benefits established HDI manufacturers and creates a widening competitive gap between technology leaders and commodity-focused factories. ONESEINE TECHNOLOGY CO.LTD has been strengthening its position in this landscape through its mature production technology for second-order and third-order HDI boards, as well as multi-layer any-layer interconnect — capabilities that position the company to serve the growing demand for high-density communication modules, consumer electronics, and industrial control boards.

2. US-China Trade War Accelerates Order Pull-In

The US-China trade confrontation has remained unresolved, and customers have responded by concentrating orders and pulling shipments forward to mitigate tariff risks. This dynamic has significantly benefited manufacturers with available high-end HDI capacity.

For instance, Huatong (WUS Printed Circuit) received a large volume of high-end HDI smartphone orders in the second quarter, helping the company break free from quarterly revenue declines and a five-quarter year-over-year downturn. The trade-war-driven pull-in effect has been particularly pronounced across several segments:

Smartphone PCBs: Customers accelerated orders for any-layer HDI and SLP mainboards to build inventory ahead of potential tariff increases.

Communication infrastructure boards: 5G base station and network equipment orders were pulled forward as telecom operators and equipment vendors sought to secure supply chains.

Automotive electronics: Automotive PCB orders were accelerated as car manufacturers and Tier-1 suppliers built safety stock to reduce supply chain disruption risk.

While the trade war creates short-term demand spikes, it also accelerates the long-term trend of supply chain diversification. Some customers are seeking alternative manufacturing sources outside China, while others are doubling down on domestic Chinese suppliers to reduce geopolitical risk. For manufacturers with advanced technology and proven quality — such as ONESEINE TECHNOLOGY CO.LTD, which serves a global customer base across communications, medical, aerospace, industrial control, and automotive electronics — this environment creates both immediate order opportunities and long-term strategic positioning.

3. 5G Drives the Next Wave of High-End HDI Demand

Beyond the trade war, the structural driver of high-end HDI demand is 5G. As 5G networks roll out globally and 5G smartphones enter mass adoption, the PCB content per device — and the technical complexity of that PCB — is increasing significantly.

3.1 5G Smartphones Require More Advanced HDI

5G smartphones require more PCB content and higher-density interconnect than 4G phones for several reasons:

More antennas and RF front-end components: 5G supports multiple frequency bands (sub-6GHz and mmWave), requiring additional antenna structures, PA (Power Amplifier) modules, LNAs (Low Noise Amplifiers), switches, and filters — all of which demand high-density PCB routing.

mmWave antenna modules: 5G mmWave devices use AiP (Antenna-in-Package) modules that require ultra-high-density interconnect on low-loss substrates, often using SLP or advanced HDI technology.

Higher data processing: 5G modems and application processors have more I/O pins and higher-speed interfaces, requiring additional routing layers and finer line/space capabilities.

Larger batteries and more sensors: 5G phones include larger batteries (to offset higher power consumption), multi-camera systems, and additional sensors — all competing for limited board space and driving demand for higher-density any-layer HDI.

As a result, 5G flagship smartphones have migrated from 8–10 layer traditional HDI to 10–14 layer any-layer HDI or SLP, with line/space down to 30/30μm or finer. This trend directly benefits manufacturers with advanced HDI and SLP capabilities. ONESEINE TECHNOLOGY CO.LTD's minimum line width/spacing of 2.0/2.0mil (50/50μm), minimum laser drilling of 3mil, and minimum mechanical drilling of 0.10mm provide the precision manufacturing foundation required for these next-generation HDI products.

3.2 5G Infrastructure and Automotive HDI Growth

Beyond smartphones, 5G is driving HDI demand in several additional markets:

5G base stations: AAU (Active Antenna Unit) and BBU (Baseband Unit) boards use high-layer-count constructions with HDI sections for high-speed digital processing and RF interfaces.

Server and data center: 5G data traffic growth drives server upgrades, requiring high-layer-count backplanes and HDI processor boards supporting 25G–112G SerDes interfaces.

Automotive electronics: ADAS (Advanced Driver Assistance Systems), autonomous driving controllers, and vehicle infotainment systems increasingly use HDI boards to handle high sensor data throughput and compact packaging requirements.

4. Industry Investment Remains Strong Despite Uncertainty

Since the beginning of the year, PCB factory expansion has been driven by several converging factors: the unresolved US-China trade conflict, tightening environmental protection regulations in China, and an unpredictable global economic outlook. Despite these headwinds, industry investment remains strong — particularly in high-end HDI, SLP, and advanced packaging substrate capacity.

The underlying logic is clear: while short-term demand may fluctuate with trade policy and macroeconomic cycles, the long-term structural trend toward higher-density, higher-speed, and higher-frequency electronics is irreversible. Manufacturers that invest in advanced technology now will be positioned to capture the 5G, automotive electronics, and AI-driven demand waves of the next decade.

Key areas of industry investment include:

Any-layer HDI capacity expansion: Adding laser drilling, sequential lamination, and advanced plating capabilities.

SLP (Substrate-like PCB) production: Investing in mSAP (modified Semi-Additive Process) equipment to produce finer-line boards for high-end smartphones and advanced packaging.

High-frequency and high-speed materials: Developing processing capability for low-Dk/low-Df laminates (Rogers, Panasonic Megtron, Isola, ShengYi high-frequency series) for 5G RF and high-speed digital applications.

Automotive-grade manufacturing: Achieving IATF 16949 certification and AEC-Q200 qualified component processing for automotive electronics.

COF and advanced packaging substrates: Exploring semiconductor COF (Chip On Film) and IC packaging substrate production as new growth areas.

5. Technological Innovation as a Competitive Barrier

In terms of industrial competition, PCB manufacturers are leveraging technological innovation to widen the gap with competitors. Beyond HDI and any-layer HDI, key innovation areas include:

Rigid-flex boards: Combining rigid and flexible sections in a single board, enabling 3D packaging and space-saving designs for wearable, medical, and aerospace applications.

SLP / carrier-like boards: Substrate-like PCB using semi-additive processes to achieve line/space of 20μm or finer, bridging the gap between traditional PCB and IC packaging substrates.

Semiconductor COF: Chip On Film flexible substrates for display driver ICs, requiring ultra-fine-line (5μm) processing with ALD + SAP technology.

Thick copper and high-power boards: Heavy copper (6–15oz) constructions for automotive power electronics, renewable energy, and industrial power supplies.

High-frequency mixed-dielectric boards: Combining high-frequency PTFE-based laminates with standard FR-4 in a single stack-up for cost-effective 5G RF designs.

These technologies respond to the client-side design trend of 3C electronics becoming lighter, thinner, shorter, and smaller — while also extending into new product application fields such as semiconductor COF. By using high technical barriers to widen the gap with competitors, leading manufacturers ensure that even if competitors intend to cross the threshold of high-tech competition, they must first solve the enormous capital requirements for technology upgrades — including equipment investment, process development, talent acquisition, and customer qualification.

ONESEINE TECHNOLOGY CO.LTD is among the manufacturers investing in these high-barrier technologies. In addition to its HDI capabilities, the company produces 32-layer boards, high-frequency mixed-dielectric boards, high-Tg thick-copper boards (up to 15oz), rigid-flex boards, aluminum substrates, and backplanes — with high-precision impedance control and board thickness-to-hole-diameter aspect ratios up to 26:1. This broad technology portfolio enables the company to serve diverse high-end markets including 5G communication, automotive electronics, industrial control, medical, and aerospace.

6. Conclusion

The PCB industry is experiencing a period of strong order demand, driven by the convergence of three major forces: the US-China trade war accelerating order pull-in, 5G deployment driving structural demand for higher-density and higher-performance boards, and the ongoing trend of electronics miniaturization pushing design toward any-layer HDI and SLP. High-end HDI has become the focal point of industry investment, as manufacturers with advanced technology capture a disproportionate share of orders and revenue growth.

For PCB manufacturers, the path forward requires sustained investment in high-end HDI, any-layer interconnect, SLP, high-frequency materials, and advanced packaging technologies. Companies that build these capabilities now — including ONESEINE TECHNOLOGY CO.LTD, with its HDI, high-layer-count, and mixed-dielectric expertise — will be well-positioned to benefit from the multi-year 5G growth cycle and the broader trend of electronics miniaturization and high performance.

While trade policy uncertainty and macroeconomic risks may create short-term volatility, the long-term trajectory is clear: high-end HDI and advanced PCB technologies will continue to gain share, and manufacturers that invest in technology and quality will emerge as the winners of the next industry cycle.

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