The circuit materials market size is estimated to be USD 30.58 billion in 2018 and is projected to reach USD 36.85 billion by 2023, at a CAGR of 3.8% between 2018 and 2023
NEW YORK, July 16, 2018 /PRNewswire/ -- The circuit materials market is projected to register a CAGR of 3.8%, in terms of value, between 2018 and 2023
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The circuit materials market size is estimated to be USD 30.58 billion in 2018 and is projected to reach USD 36.85 billion by 2023, at a CAGR of 3.8% between 2018 and 2023. The increasing demand for circuit materials due to technological advancements in the electronics sector is the most significant factor projected to drive the market. The technological developments in the developing economies are also contributing to the circuit materials market growth. However, the low supply of copper foil to the electronic industry is acting as a restraint to the market growth.
The copper conducting material segment of the circuit materials market is projected to register the highest CAGR, in terms of value, during the forecast period
Copper is used as a conducting layer on the various types of substrates such as fiberglass-epoxy, paper-phenolic, and CEM.The use of copper as a conducting material offers excellent current conductivity and electromagnetic shielding which enhances the performance of various electronic devices.
Also, when copper is applied on various substrates, it can be chemically etched to divide the copper layer into separate conducting lines called tracks or circuit traces.This chemical etching process is easy to achieve with copper compared to other conducting materials.
The ease of chemical processing and better conductivity have increased the demand for copper as a conducting material and has helped it to register the highest CAGR during the forecast period.
The circuit materials market in the APAC region is projected to register the highest CAGR, in terms of value, between 2018 and 2023
The circuit materials market in the APAC region is projected to register the highest CAGR, in terms of value, during the forecast period as APAC is one of the promising circuit materials markets.The continuous rise in the production of technologically advanced electronic products has resulted in high demand for circuit materials.
This increasing demand for technologically advanced electronic products in various applications such as communications, industrial electronics, and automotive has led to innovations and developments in the electronics industry of APAC making it a promising circuit materials market, globally.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted as follows:
• By Company Type- Tier 1 - 37%, Tier 2 - 42%, and Tier 3 - 21%
• By Designation- C level - 30%, Director level - 25%, and Others - 45%
• By Region- APAC - 40%, Europe - 27%, North America - 20%, Middle East & Africa - 7%, and Latin America - 6%
This report provides a comprehensive analysis of the key companies listed below:
• Shengyi Technology (China)
• Kingboard Laminates (Hong Kong)
• ITEQ Corporation (Taiwan)
• DowDuPont (US)
• Jinan Guoji Technology (China)
• Eternal Materials (Taiwan)
• Rogers Corporation (US)
• Taiflex Scientific (Taiwan)
• Isola Group (US)
• Nikkan Industries (Japan)
Research Coverage
This report covers the circuit materials market and forecasts the size of the market until 2023.The report includes the segmentation of the circuit materials market based on material class, substrate, conducting material, outer layer, application, and region.
Porter's Five Forces analysis and key market dynamics such as drivers, restraints, challenges, and opportunities influencing the growth of the circuit materials market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.
Benefits of Buying the Report:
The report is expected to help market leaders/new entrants in the circuit materials market in the following ways:
• This report segments the circuit materials market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
• The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities of the circuit materials market.
• This report is also expected to help stakeholders understand their competitors and gain insights to better their positions in the circuit materials market. The competitive landscape section includes the ecosystem of competitors and detailed information on new product developments and partnerships.
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