Circuit Material Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Circuit Material Market is segmented by Material Type (Conducting Material (Copper and Other Conducting Materials), Outer Layer (Liquid Ink Photo-imageable Solder Mask, Dry Film Photo-imageable and Other Outer Layer Types), and Substrate (Epoxy Materials, Paper Phenolic, and Other Substrates)), Application (Automotive and Aerospace, Communications, Electronics, and Other Applications) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Circuit Material Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %

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Market Overview

The market for circuit material is expected to register a CAGR of more than 4% during the forecast period.

Increasing applications in the electronics sector and the growing need for communication devices in every region are driving the market growth.

The availability of copper material has been decreasing and the associated radiation issues are expected to hinder the market growth.

Scope of the Report

The Circuit Material Market report include: 

Material Type
Conducting Material
Other Conducting Materials
Outer Layer
Liquid Ink Photo-imageable Solder Mask
Dry Film Photo-imageable
Other Outer Layer Types
Epoxy Materials
Paper Phenolic
Other Substrates
Automotive and Aerospace
Other Applications
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand for Electronic Devices

  • Circuit materials have been increasingly used in making circuit boards and electronic components lately. Circuit materials find their application in automobiles, smart devices, communication devices, and aerospace electronics.
  • Conducting materials mainly produced by the copper. Copper has been helping the electronics industry with its properties for a long time. Copper is a good conductor of electricity, ductile in nature, and even supports electroplating.
  • Fiberglass Epoxy is being used in the production of printed circuit boards because of its mechanical and chemical properties. The demand from communication devices is high in recent years, specifically in developing countries.
  • Recently, flexible printed circuit boards are witnessing increasing demand from various industries, such as consumer electronics, medical systems, and high-speed digital applications.
  • Make in India initiative have boosted the consumer electronics manufacturing industry in India and growth in production of electronic components in India for various applications.
  • Growing electronic manufacturing industries in both developed and developing countries and increasing demand for electronics, are expected to drive the market for circuit materials through the years to come.
Circuit Material Volume Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the global market, owing to the highly developed electronics sector in China, Japan, and Korea, coupled with the continuous investments done in the region to advance the automobile technology and electronic manufacturing sectors through the years.
  • Moreover, electronic devices are being used for various medical purposes and there is also an increase in the demand for other applications, such as sensors, auto-driving cars, cameras, high-frequency devices, and many more, in China and Japan.
  • Circuit materials have been mostly used for the manufacture of communication devices around the world. The demand for communication devices is significantly growing in the Asia-Pacific region in current times. According to the Zentralverband Elektrotechnik- und Elektronikindustrie (ZVEI), Asia-Pacific is the largest consumer of electronics compared to any other region in recent years.
  • According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), China has more number of automobile manufacturing units and it leads the automobile production in recent years.
  • Even though there is a decline in production of automobiles, Asia-Pacific stands number one in production of automobiles in previous years. Automotive manfuacturers including newer electronic components in vehicles due to consumer demand.
  • Increasing electronic communication devices require advanced electronic materials and components including circuit materials. The continuous growth of automobiles is expected to drive the market for circuit material through the years to come in the region.
Circuit Material Market Regional Trends

Competitive Landscape

The circuit material market is fragmented in nature with many players competing in the market. Some of the major companies are DuPont, Kingboard Laminates Holdings Ltd, Mitsubishi Materials Corporation, Panasonic Corporation, and Shengyi Technology Co. Ltd, among others.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Applications in the Electonic Sector

      2. 4.1.2 Increasing Demand for Communication Devices

    2. 4.2 Restraints

      1. 4.2.1 Decreasing Supply of Raw Materials

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition


    1. 5.1 Material Type

      1. 5.1.1 Conducting Material

        1. Copper

        2. Other Conducting Materials

      2. 5.1.2 Outer Layer

        1. Liquid Ink Photo-imageable Solder Mask

        2. Dry Film Photo-imageable

        3. Other Outer Layer Types

      3. 5.1.3 Substrate

        1. Epoxy Materials

        2. Paper Phenolic

        3. Other Substrates

    2. 5.2 Application

      1. 5.2.1 Automotive and Aerospace

      2. 5.2.2 Communications

      3. 5.2.3 Electronics

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 DuPont

      2. 6.4.2 Isola Group

      3. 6.4.3 ITEQ Corporation

      4. 6.4.4 Kingboard Laminates Holdings Ltd

      5. 6.4.5 Mitsubishi Materials Corporation

      6. 6.4.6 Nikkan Industries Co. Ltd

      7. 6.4.7 Panasonic Corporation

      8. 6.4.8 Rogers Corporation

      9. 6.4.9 Shengyi Technology Co. Ltd

      10. 6.4.10 Taiflex Scientific Co. Ltd

    5. *List Not Exhaustive

    1. 7.1 Increasing Demand for Automobiles and Smart Electronic Devices

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Circuit Material Market market is studied from 2016 - 2026.

The Circuit Material Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Kingboard Laminates Holdings Ltd, Mitsubishi Materials Corporation, Panasonic Corporation, Shengyi Technology Co., Ltd, DuPont are the major companies operating in Circuit Material Market.

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