Thailand’s printed circuit board sector has become a focal point for new factory builds and relocation decisions across Asia. Thailand’s Board of Investment (BOI) data shows that between 2022 and June 2025, more than 180 PCB investment projects applied for investment promotion, with a combined value of more than THB200 billion. The same BOI-backed ecosystem expansion is visible in broader electronics filings too: in the first nine months of 2025, the electrical appliances and electronics group recorded 382 applications for investment promotion, with a combined value of more than THB180 billion. In this context, Thailand PCB manufacturing is being pulled forward by the needs of AI, data centres, and advanced electronics, while also benefiting from a production relocation cycle that is still unfolding.
Regional market estimates help frame why so many board makers are choosing Thailand as a base. Mordor Intelligence estimates the Southeast Asia printed circuit board market was valued at USD 7.79 billion in 2025 and is expected to reach USD 10.12 billion by 2031, with a 4.41% CAGR over 2026–2031. In that same Southeast Asia market view, Thailand accounted for 33.32% of market share in 2025, and the report also notes that more than 60 Taiwanese and mainland Chinese board houses moved high-layer and HDI capacity into Thailand between 2023 and 2025. Taken together, the investment and market-share signals point to Thailand being used not just for assembly, but as a strategic alternative manufacturing node.
Why Thailand’s Clusters and Incentives Are Pulling PCB Capital
Industrial clustering and infrastructure readiness are repeatedly highlighted as practical reasons investment is concentrating. The Nation reports that 304 Industrial Park is one key cluster supporting the PCB industry and says it has more than 10 on-site power plants with total capacity of 893 megawatts. It also lists industrial water capacity of 344,000 cubic metres per day, supported by reservoirs with combined capacity of more than 40 million cubic metres. For environmental compliance, the same site is supported by an industrial wastewater treatment system with capacity of up to 175,800 cubic metres per day, and it also has integrated renewable energy from solar and biomass totalling more than 555 megawatts. The Nation adds that more than 14 PCB manufacturers and supply-chain companies have already invested at the park, which reinforces the clustering effect.
Policy support and downstream demand are also being linked directly to board demand. The Nation describes BOI measures including corporate income tax exemptions of up to 13 years, alongside investment cost-reduction measures, aimed at strategic target industries such as electric vehicles, electronics, semiconductors, AI data centres, and medical devices. In parallel, Mordor Intelligence estimates Thailand’s electronics manufacturing services market size at USD 6.88 billion in 2025 and USD 7.67 billion in 2026, with projections reaching USD 12.57 billion by 2031 at a 10.38% CAGR over 2026–2031. Within that EMS market, printed circuit board assembly led with a 41.57% share in 2025, and surface-mount technology held 53.73% of the market. The same report states automotive applications are poised to register a 12.17% CAGR through 2031, reinforcing why PCB-related capacity is being built close to EV and automotive electronics supply chains.
Company moves and approvals underline the pace of the current wave, but the scope should be read carefully. The Nation reported in September 2025 that in less than three years, nearly 60 PCB manufacturers from China and Taiwan have set up new factories in Thailand, naming Unimicron, Zhen Ding Tech, Shennan Circuits, and Victory Giant among them. Separately, WebProNews states that in 2024 alone, PCB-related projects approved by the BOI totalled more than 100 billion baht (USD 3 billion), citing government data. At the Asia-Pacific level, Mordor Intelligence reports the Asia-Pacific PCB market is worth USD 93.58 billion in 2026 and is projected to reach USD 119.06 billion by 2031 at a 4.93% CAGR, adding that Taiwan, Vietnam, Thailand, and Malaysia together generated 20% of 2025 revenue. Those regional figures provide context for why Thailand’s PCB buildout is attracting attention well beyond ASEAN.
How large is the PCB investment pipeline reported for Thailand?
What share of Southeast Asia’s PCB market is attributed to Thailand?
Which infrastructure figures are highlighted for 304 Industrial Park?
What does the EMS data imply for Thailand’s PCB-related activity?
What is driving Thailand PCB manufacturing investment, according to the sources?
