Market Insights
The circuit materials market is likely to grow at a promising CAGR of 4.1% during the forecast period (2023-2028).
What is Circuit Material?
Circuit materials are a crucial component of the electronics industry, serving as the foundation for electronic circuits. Circuit materials find extensive application in a wide range of electronic devices, including smartphones, computers, automotive systems, aerospace equipment, and consumer electronics. They enable the seamless flow of electrical signals, ensuring optimal performance and reliability.
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the circuit materials market, causing disruptions in the global supply chain and manufacturing operations. The lockdown measures and reduced consumer spending resulted in a temporary decline in demand. However, with the gradual easing of restrictions and the resumption of economic activities in 2021, market demand for circuit materials started to recover and eventually reached its pre-COVID levels.
Market Drivers
The increasing demand for high-performance electronic devices, such as smartphones, tablets, and wearable technology, combined with the rise of emerging technologies like 5G, the Internet of Things (IoT), and autonomous vehicles, is fueling the need for advanced circuit materials with enhanced electrical conductivity, high-frequency performance, and thermal management capabilities. Furthermore, the growing emphasis on sustainability and eco-friendly practices is also driving the demand for circuit materials that are environmentally friendly and compliant with regulations.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Material Class-Type Analysis
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Substrate, Conducting Material, Outer Layer
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The substrate material segment is anticipated to remain dominant in the years to come.
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Substrate-Type Analysis
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Fiberglass Epoxy, Paper-Phenolic, CEM, Polyimide, and Others
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Fiberglass epoxy is expected to remain dominant in the years to come.
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Conducting Material-Type Analysis
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Copper and Others
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Copper is expected to remain the dominant conducting material type in the years to come.
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Outer Layer-Type Analysis
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LIPSM, Dry Film Photoimageable, and Others
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LIPSM is anticipated to remain the leading segment in the years to come.
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Application-Type Analysis
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Communications, Industrial Electronics, Automotive, Aerospace & Defense, and Others
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Communications is estimated to remain the largest application type in the years to come.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific is expected to emerge as the fastest-growing market over the next five years.
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Conducting Material Trends
The circuit materials market is segmented into copper and others. The copper segment is poised to emerge as the frontrunner in the circuit materials market during the projected period. This growth can be attributed to the remarkable conductivity of copper and its superior adaptability to a wide range of substrate materials.
Outer Layer Trends
The circuit materials market is segmented into LIPSM, dry film photoimageable, and others. The liquid ink photoimageable solder mask (LIPSM) segment is predicted to be the market leader during the forecast period. This segment's growth is driven by its beneficial properties, such as excellent corrosion resistance, which effectively extends the lifespan of electronic devices.
Application Trends
The circuit materials market is segmented into communications, industrial electronics, automotive, aerospace & defense, and others. The communications segment represents the largest application of circuit materials. These materials are utilized in the printed circuit boards of communication devices like mobile phones, tablets, and internet devices. The growing adoption of circuit materials in this application can be attributed to their ability to enhance conductivity on compact printed circuit boards.
Regional Analysis
Asia-Pacific is expected to remain the largest and fastest-growing market for circuit materials during the forecast period. This growth can be attributed to the expanding applications in the communications, industrial electronics, and automotive sectors. The increasing demand for technologically advanced electronic products across various industries has driven the growth of the circuit materials market in APAC. This region has witnessed significant innovations and developments in the electronics industry, establishing it as a prominent global market for circuit materials. Additionally, the growth and advancements in the automotive sector within APAC are expected to positively impact the circuit materials market.
The circuit materials market is segmented into the following categories:
By Material Class Type
- Substrate (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Conducting Material (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Outer Layer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Substrate Type
- Fiberglass Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Paper-Phenolic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- CEM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polyimide (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Conducting Material Type
- Copper (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Outer Layer Type
- LIPSM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Dry Film Photoimageable (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Application Type
- Communications (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Industrial Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Key Players
The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the circuit materials market:
- Shengyi Technology Co., Ltd. (SYTECH)
- Kingboard Laminates Holdings Ltd.
- ITEQ Corporation
- DuPont de Nemours, Inc.
- Jinan Guoji Technology
- Eternal Materials Co Ltd
- Rogers Corporation
- Taiflex Scientific Co., Ltd.
- Isola Group Ltd.
- Nikkan Industries Co., Ltd.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s circuit materials market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
