Market Size of Circuit Material Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Circuit Material Market Analysis
The market for circuit material is expected to register a CAGR of more than 4% during the forecast period.
In 2021, the demand for circuit material increased due to surging demand for electronics and electrical equipment and automobiles worldwide. The introduction of electric vehicles in the market, keeping in view the surging prices of the fuels, is expected to increase the demand for circuit material in the future.
- Increasing applications in the electronics sector and the growing need for communication devices in every region are driving the market's growth.
- The availability of copper material has decreased, and the associated radiation issues are expected to hinder the market's growth.
Circuit Material Industry Segmentation
Typically, circuit materials are a flat laminated composite comprised of non-conductive substrate materials with layers of copper circuitry concealed internally or on external surfaces. They can be as simple as one or two layers of copper or as complex as 50 layers or more in high-density applications. The circuit material market is segmented by material type, application, and geography.
| Material Type | |
| Conducting Material | |
| Outer Layer | |
| Substrate |
| Application | |
| Automotive and Aerospace | |
| Communications | |
| Electronics | |
| Other Applications |
| Geography | |||||||
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Circuit Material Market Size Summary
The circuit material market is poised for significant growth, driven by the increasing demand for electronics, electrical equipment, and automobiles globally. The rise of electric vehicles, spurred by fluctuating fuel prices, is expected to further boost the demand for circuit materials. These materials are essential in the production of circuit boards and electronic components, finding applications across various sectors such as automobiles, smart devices, communication devices, and aerospace electronics. However, challenges such as the decreased availability of copper and associated radiation issues may hinder market expansion. The market's growth is also supported by the burgeoning electronics sector and the escalating need for communication devices worldwide.
The Asia-Pacific region is anticipated to lead the global circuit material market, supported by the advanced electronics industries in China, Japan, and South Korea, along with ongoing investments in automotive technology and electronic manufacturing. The region's demand for electronic devices, including those used in medical applications, sensors, and auto-driving cars, is on the rise. China's automotive industry is experiencing a shift towards battery-operated vehicles, while India is witnessing a surge in electronic item demand, bolstered by its status as a major mobile phone manufacturer and high internet penetration. The fragmented nature of the market sees numerous players, including DuPont, Kingboard Laminates Holdings Ltd, Mitsubishi Materials Corporation, Panasonic Corporation, and Shengyi Technology Co. Ltd, competing for market share.
Circuit Material Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Applications in the Electonic Sector
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1.1.2 Other Drivers
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1.2 Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Material Type
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2.1.1 Conducting Material
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2.1.2 Outer Layer
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2.1.3 Substrate
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2.2 Application
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2.2.1 Automotive and Aerospace
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2.2.2 Communications
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2.2.3 Electronics
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2.2.4 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Circuit Material Market Size FAQs
What is the current Circuit Material Market size?
The Circuit Material Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Circuit Material Market?
Kingboard Laminates Holdings Ltd, Mitsubishi Materials Corporation, Panasonic Corporation, DuPont and Shengyi Technology Co. Ltd are the major companies operating in the Circuit Material Market.
