KB LAMINATES (01888) rose nearly 3%, gaining 2.06% to HK$11.38 by the time of writing, with a turnover of HK$54.24 million. The surge comes amid reports of AI-driven demand for high-end PCBs, creating structural opportunities for copper-clad laminates (CCL), a key PCB substrate. Some premium CCL products are in tight supply, leading to price increases. KB LAMINATES and other manufacturers have raised prices multiple times this year, citing cost pressures and strong demand as key drivers.

Industry sources indicate that companies like Nan Ya Plastics and Huazheng New Material are operating at high capacity utilization, with price adjustments implemented in October. Some manufacturers continue to adjust prices for different CCL products in batches.

According to Xingye Research, AI-related CCL is becoming a major growth engine for the industry. The AI CCL market—covering AI servers, switches, and optical modules—is projected to reach $2.2 billion in 2025, a 100% year-on-year increase. By 2026, driven by ASIC expansion and NVIDIA's new M9-grade CCL upgrades, the market is expected to grow 60% to $3.4 billion. By 2028, it could hit $5.8 billion, with a compound annual growth rate (CAGR) of 52% from 2024 to 2028.