The combination of a signal trace and a reference plane forms a transmission line. All I/O signals in a PCB system travel through transmission lines.
For single-ended I/O interfaces, both the signal trace and the reference plane are necessary to transmit a signal from one place to another on the PCB. For differential I/O interfaces, the transmission line is formed by the combination of two traces and a reference plane. While the presence of a reference plane is not strictly necessary in the case of differential signals, it is necessary for practical implementation of differential traces in PCBs.
Good signal integrity in a PCB system is dependent on having transmission lines with controlled impedance. Impedance is determined by the geometry of the traces and the dielectric constant of the material in the space around the signal trace and between the signal trace and the reference plane.
The dielectric constant of the material in the vicinity of the trace and reference plane is a property of the PCB laminate materials, and in the case of surface traces, a property of the air or fluid surrounding the board. PCB laminate is typically a variant of FR4, though it can also be an exotic material.
While the dielectric constant of the laminate varies from board to board, it is fairly constant within one board. Therefore, the relative impedance of transmission lines in a PCB is defined most strongly by the trace geometries and tolerances. Impedance variance can occur based on the presence or absence of glass in a local portion of the laminate weave, but this rarely poses issues except in high-speed (>6 Gb/s) interfaces.