Taiwan PCB Makers’ Revenue Rises 41% in September

By Jonathan Custer | October 21, 2026

Taiwan’s listed PCB makers reported September revenue of NT$115.7 billion, up 41.4% on the year and 9.7% on August, according to the Taiwan Printed Circuit Association (TPCA), 14 October 2026. Rigid makers grew 46.0% to NT$85.0 billion and flexible makers 30.0% to NT$30.6 billion. Zhen Ding led at NT$26.36 billion. Dynamic Holding grew 84.7%, Unimicron 64.7% and Nan Ya PCB 57.8%. January to September revenue rose 29.6% to NT$813.0 billion. September growth of 41.4% is running ahead of the 29.6% year-to-date pace, so revenue growth accelerated at the end of the third quarter.

Laminate makers grew fastest among the ten Taiwan laminate, substrate and board makers tracked. EMC’s September revenue rose 168.9% on the year, TUC’s 114.8% and ITEQ’s 110.7%, according to DigiTimes and company filings. Substrate maker Unimicron grew 64.7%, NYPCB 57.8% and Kinsus 44.5%. Board makers GCE grew 55.5%, Tripod 53.5% and GBM 36.1%, while FHt fell 4.6%. January to September, EMC is up 103.7% and TUC 99.4%. The three laminate makers grew 110.7% to 168.9% against 55.5% for the fastest board maker, so laminate is taking a rising share of these ten makers’ revenue.

Taiwan’s rigid board exports rose about 38% on the year in September to about US$495 million, while imports rose about 52% to about US$820 million, a trade deficit of about US$325 million (TPCA; values measured from TPCA’s chart). Flexible board exports fell 0.3% to about US$41.5 million and flexible imports rose about 17% to about US$88 million. The rigid board trade deficit widened from about US$185 million a year earlier, so Taiwan is a growing net buyer of rigid boards.

September revenue accelerated above the year-to-date pace, led by laminate makers. If laminate growth falls back toward the board makers’ rate in the October figures, the September jump was a one-quarter spike rather than a structural shift in the supply chain.

Sources: Taiwan Printed Circuit Association (TPCA), 14 October 2026; DigiTimes AI server tracker and company filings.

Prepared by Custer Contexo Group | Market Intelligence | October 21, 2026