In 2022, the circuit materials market reached a value of US$ 36.7 billion. In 2023, the market for superconductors is expected to reach more than US$ 38.6 billion. The forecast term is expected to see sales grow at a CAGR of 4.2%. By 2033, revenue is projected to reach US$ 58.0 billion.
The shift towards electric vehicles requires advanced electronic systems, including power electronics and battery management systems. This increases the need for specialized circuit materials with high thermal conductivity and better power-handling capabilities.
The development of autonomous vehicles relies heavily on sensors, cameras, LiDAR, and advanced driver-assistance systems (ADAS). All of these systems require intricate circuitry, pushing the demand for advanced circuit materials.
Modern vehicles feature sophisticated infotainment systems, connectivity options, and communication technologies. These systems demand high-performance circuit materials to ensure efficient signal transmission and processing.
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Recent years have seen an increasing emphasis on safety systems such as collision avoidance, emergency braking, and airbag deployment. This mechanism involves complex electronic components, driving the need for reliable circuit materials that can withstand harsh conditions.
Automotive manufacturers are focusing on making vehicles lighter to improve fuel efficiency. This requires the use of materials like composites and advanced circuit materials that are both lightweight and durable. As environmental concerns grow, there’s a push for more energy-efficient vehicles. This trend requires circuit materials that can handle higher power densities while maintaining efficiency and minimizing energy loss.
The automotive sector has led the way in the adoption of advanced manufacturing techniques such as additive manufacturing and flexible electronics. It is expected to drive the demand for specialized circuit materials tailored to these processes. This demands circuit materials capable of supporting high-frequency signals without significant signal degradation.
The automotive sector often adopts emerging technologies such as 5G connectivity, advanced sensors, and augmented reality displays. These technologies require innovative circuit materials that can meet their specific requirements.
Circuit materials being developed for vehicles would need to be robust enough to withstand the harsh conditions of automotive environments. Multiple Input Multiple Output (MIMO) technology, a key part of 5G, requires advanced circuit materials for the deployment of large numbers of antennas on a single device.
5G is enabling new applications such as augmented reality (AR), virtual reality (VR), and remote surgery. Circuit materials need to be created that can support the requirements of these emerging technologies.
Key Takeaways from Circuit Materials Market Report:
- The global market is expected to reach a market valuation of US$ 58.0 billion by 2033.
- Sales of circuit materials are expanding at a CAGR of 4.2% over the forecast period.
- The United States is projected to have a valuation of US$ 9.9 billion by 2033.
- China is projected to reach a market valuation of US$ 10.9 billion by 2033.
- By substrate, the fiberglass epoxy segment is estimated to have a value CAGR of 4.0% from 2023 to 2033.
“Deployment of 5G technology is likely to drive demand for circuit material during the forecast period. Key companies focus on continuous innovation to develop new materials with improved performance.” – says a lead analyst at Future Market Insights (FMI)
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Competitive Landscape:
Key companies are offering a diverse range of circuit materials catering to different applications. It helps manufacturers capture a broader market share from consumer electronics to automotive and aerospace. They are also forming partnerships with the leading companies to increase their market presence.
A Few Companies Present in the Circuit Materials Market:
- Arlon EMD is a producer of specialty prepreg and high-performance laminate materials used in demanding and different fields for printed circuit board applications.
- Dow is a pioneer in materials research and is dedicated to providing clients with cutting-edge and environmentally friendly solutions for packaging, infrastructure, and consumer care.
Top Key Players
- Arlon Electronic Materials Division
- Chang Chun Group
- D. Enterprises, Doosan Corporation Electro-Materials
- Dow, Inc.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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