The global Circuit Materials Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Material Class (Substrate, Conducting Material, Outer Layer), By Substrate (Fiberglass-Epoxy, Paper-Phenolic, CEM, Polyimide, Others), By Conducting Material (Copper, Others), By Outer Layer (Liquid Ink Photoimageable Solder Mask, Dry Film Photoimageable, Others), By Application (Communications, Industrial Electronics, Automotive, Aerospace & Defense, Others).
The circuit materials market is experiencing robust growth in 2024, driven by the increasing demand for high-performance electronic components and the proliferation of electronic devices across various end-use industries such as automotive, telecommunications, consumer electronics, and aerospace. Circuit materials, including substrates, laminates, and coatings, form the foundation of electronic circuits and play a critical role in ensuring reliable electrical performance, thermal management, and signal integrity. The market is witnessing a shift towards advanced materials such as high-frequency laminates, flexible substrates, and thermally conductive dielectrics to meet the requirements of next-generation electronic applications such as 5G communication, Internet of Things (IoT), and electric vehicles. Further, innovations in additive manufacturing, microfabrication, and nanotechnology are driving the development of novel circuit materials with enhanced functionality, miniaturization, and integration capabilities. Additionally, the growing emphasis on sustainability and recyclability is prompting manufacturers to explore eco-friendly alternatives and circular economy strategies, thereby shaping the future trajectory of the circuit materials market.
The market report analyses the leading companies in the industry including DuPont de Nemours Inc, Isola Group, ITEQ Corp, Kingboard Laminates Holdings Ltd, Mitsubishi Materials Corp, Nikkan Industries Co. Ltd, Panasonic Corp, Rogers Corp, Shengyi Technology Co. Ltd, Taiflex Scientific Co. Ltd, and others.
A prominent trend in the circuit materials market is the increasing demand for materials that can support high-frequency and high-speed applications in electronic devices. With the proliferation of 5G technology, Internet of Things (IoT) devices, and automotive electronics, there is a growing need for circuit materials that offer excellent signal integrity, low loss, and reliable performance at high frequencies. This trend is driven by advancements in telecommunications, aerospace, and automotive industries, where the demand for faster data transmission, enhanced connectivity, and miniaturization of electronic components continues to rise. Manufacturers are focusing on developing circuit materials with superior electrical properties, thermal stability, and dimensional accuracy to meet the stringent requirements of modern electronic applications. As industries embrace emerging technologies and strive for innovation, the demand for circuit materials optimized for high-frequency and high-speed performance is expected to drive market growth and shape product development strategies.
An essential driver propelling the circuit materials market is the growth in consumer electronics and telecommunications sectors, where circuit materials are integral components in electronic devices such as smartphones, tablets, computers, and communication networks. With the increasing adoption of digitalization, connectivity, and mobility, there is a rising demand for advanced electronic products with improved performance, reliability, and functionality. This driver is fueled by factors such as rising disposable incomes, technological advancements, and changing consumer lifestyles, which drive the demand for electronic gadgets and telecommunications services worldwide. Additionally, the deployment of 5G networks, expansion of cloud computing infrastructure, and development of smart cities and IoT ecosystems further stimulate the demand for circuit materials with enhanced properties such as high-speed signal transmission, thermal management, and mechanical durability. As the electronics industry continues to evolve and innovate, the demand for circuit materials is expected to remain robust, supporting market growth and investment in materials research and development.
A potential opportunity for the circuit materials market lies in the development of sustainable and eco-friendly materials that address environmental concerns and regulatory requirements. As industries strive to reduce their carbon footprint, minimize waste generation, and adopt sustainable practices, there is a growing demand for circuit materials that are manufactured using environmentally friendly processes and materials. Manufacturers can seize this opportunity by exploring alternative substrates, laminates, and coatings that offer comparable performance to traditional materials while reducing environmental impact. By leveraging renewable resources, recyclable materials, and green manufacturing technologies, circuit material suppliers can differentiate their products, attract environmentally conscious customers, and gain a competitive edge in the market. Furthermore, the adoption of sustainable materials aligns with corporate sustainability goals, enhances brand reputation, and opens doors to new markets and business opportunities. By embracing sustainability as a strategic imperative, circuit material manufacturers can contribute to a greener and more sustainable future while driving innovation and growth in the electronics industry.
The Substrate segment is the largest segment in the Circuit Materials market. substrates form the foundational layer of printed circuit boards (PCBs), providing mechanical support and electrical insulation for the circuitry. As PCBs serve as the fundamental building blocks of electronic devices across various industries such as consumer electronics, automotive, aerospace, and telecommunications, the demand for high-quality substrates remains consistently high. Moreover, advancements in technology, such as the miniaturization of electronic components and the proliferation of IoT devices, further fuel the demand for substrates with superior electrical performance, thermal management capabilities, and reliability. Additionally, the increasing adoption of advanced materials like ceramic substrates and flexible substrates to meet the evolving requirements of modern electronic applications contributes to the growth of the Substrate segment. Over the forecast period, the Substrate segment maintains its position as the largest segment in the Circuit Materials market, driven by its indispensable role in the production of PCBs for a wide range of electronic devices.
The Polyimide substrate segment is the fastest-growing segment in the Circuit Materials market. This growth is primarily driven by the increasing demand for high-performance and flexible electronic devices across various industries such as aerospace, automotive, healthcare, and consumer electronics. Polyimide substrates offer unique properties such as high thermal stability, excellent mechanical strength, chemical resistance, and flexibility, making them ideal for applications requiring reliability in harsh operating environments and compatibility with flexible circuit designs. With the rising trend towards miniaturization, lightweighting, and IoT integration in electronic devices, the demand for Polyimide substrates continues to surge. Additionally, advancements in manufacturing technologies, such as roll-to-roll processing and additive manufacturing, enable cost-effective production of Polyimide-based flexible circuits, further driving their adoption. Moreover, the increasing use of Polyimide substrates in emerging technologies like wearable electronics, flexible displays, and medical implants contributes to the rapid growth of this segment, positioning it as a key driver of expansion in the Circuit Materials market.
The Copper segment stands out as the largest segment in the Circuit Materials market. copper is the most commonly used conducting material in printed circuit boards (PCBs) due to its excellent electrical conductivity, thermal conductivity, and corrosion resistance properties. As PCBs serve as the foundation for electronic devices across various industries, including consumer electronics, automotive, telecommunications, and aerospace, the demand for copper as a conducting material remains consistently high. Moreover, the continuous evolution of electronic devices towards higher performance, increased functionality, and miniaturization further drives the demand for copper-based PCBs. Additionally, advancements in copper plating technologies, such as electroless and electrolytic plating methods, enable the production of fine-line traces and high-density interconnects, enhancing the efficiency and reliability of electronic circuits. Furthermore, copper's recyclability and sustainability make it a preferred choice for environmentally conscious manufacturers, reinforcing its position as the largest segment in the Circuit Materials market.
The Liquid Ink Photoimageable Solder Mask segment is the fastest-growing segment in the Circuit Materials market. This growth is primarily driven by the increasing demand for high-density, high-performance printed circuit boards (PCBs) used in a wide range of electronic applications. Liquid ink photoimageable solder masks offer potential advantages over traditional methods, including enhanced resolution, finer features, and better registration accuracy during the PCB manufacturing process. Moreover, the liquid ink formulation allows for precise deposition and pattern definition, enabling manufacturers to produce intricate PCB designs with tight tolerances. As electronic devices continue to evolve towards smaller form factors and increased functionality, the demand for advanced solder mask materials that can accommodate finer pitches and tighter spacing between components intensifies. Additionally, the adoption of liquid ink photoimageable solder masks is fuelled by their compatibility with various PCB fabrication processes, including screen printing, inkjet printing, and curtain coating, offering flexibility and efficiency to manufacturers. Furthermore, the growing emphasis on quality, reliability, and performance in electronic products drives the adoption of liquid ink photoimageable solder masks, positioning this segment as a key driver of growth in the Circuit Materials market.
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
DuPont de Nemours Inc
Isola Group
ITEQ Corp
Kingboard Laminates Holdings Ltd
Mitsubishi Materials Corp
Nikkan Industries Co. Ltd
Panasonic Corp
Rogers Corp
Shengyi Technology Co. Ltd
Taiflex Scientific Co. Ltd
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Circuit Materials Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Circuit Materials Market Size Outlook, $ Million, 2021 to 2032
3.2 Circuit Materials Market Outlook by Type, $ Million, 2021 to 2032
3.3 Circuit Materials Market Outlook by Product, $ Million, 2021 to 2032
3.4 Circuit Materials Market Outlook by Application, $ Million, 2021 to 2032
3.5 Circuit Materials Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Circuit Materials Industry
4.2 Key Market Trends in Circuit Materials Industry
4.3 Potential Opportunities in Circuit Materials Industry
4.4 Key Challenges in Circuit Materials Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Circuit Materials Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Circuit Materials Market Outlook by Segments
7.1 Circuit Materials Market Outlook by Segments, $ Million, 2021- 2032
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
8 North America Circuit Materials Market Analysis and Outlook To 2032
8.1 Introduction to North America Circuit Materials Markets in 2024
8.2 North America Circuit Materials Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Circuit Materials Market size Outlook by Segments, 2021-2032
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
9 Europe Circuit Materials Market Analysis and Outlook To 2032
9.1 Introduction to Europe Circuit Materials Markets in 2024
9.2 Europe Circuit Materials Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Circuit Materials Market Size Outlook by Segments, 2021-2032
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
10 Asia Pacific Circuit Materials Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Circuit Materials Markets in 2024
10.2 Asia Pacific Circuit Materials Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Circuit Materials Market size Outlook by Segments, 2021-2032
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
11 South America Circuit Materials Market Analysis and Outlook To 2032
11.1 Introduction to South America Circuit Materials Markets in 2024
11.2 South America Circuit Materials Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Circuit Materials Market size Outlook by Segments, 2021-2032
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
12 Middle East and Africa Circuit Materials Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Circuit Materials Markets in 2024
12.2 Middle East and Africa Circuit Materials Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Circuit Materials Market size Outlook by Segments, 2021-2032
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
DuPont de Nemours Inc
Isola Group
ITEQ Corp
Kingboard Laminates Holdings Ltd
Mitsubishi Materials Corp
Nikkan Industries Co. Ltd
Panasonic Corp
Rogers Corp
Shengyi Technology Co. Ltd
Taiflex Scientific Co. Ltd
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Material Class
Substrate
Conducting Material
Outer Layer
By Substrate
Fiberglass-Epoxy
Paper-Phenolic
CEM
Polyimide
Others
By Conducting Material
Copper
Others
By Outer Layer
Liquid Ink Photoimageable Solder Mask
Dry Film Photoimageable
Others
By Application
Communications
Industrial Electronics
Automotive
Aerospace & Defense
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Circuit Materials Market Size is valued at $38.4 Billion in 2024 and is forecast to register a growth rate (CAGR) of 3.7% to reach $51.4 Billion by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
DuPont de Nemours Inc, Isola Group, ITEQ Corp, Kingboard Laminates Holdings Ltd, Mitsubishi Materials Corp, Nikkan Industries Co. Ltd, Panasonic Corp, Rogers Corp, Shengyi Technology Co. Ltd, Taiflex Scientific Co. Ltd
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume