<p>➀ The substrate market is projected to reach $31 billion by 2030, driven by AI and HPC, with key technologies including Advanced IC Substrates (AICS), Glass Core Substrates (GCS), and Substrate-like PCBs (SLP);</p><p>➁ AICS rebounded to $14.2 billion in 2024, GCS is nearing commercialization via global investments, SLP shipments hit 392 million units (smartphone-led), and Embedded Die (ED) remains niche but critical for AI chip power delivery;</p><p>➂ Capacity expansion is driven by AI/HPC demand, CHIPS Act incentives, and Chinese investments, with Asia dominating production while U.S. and Europe lag but gain government support.</p>