Circuit Materials Market was valued USD 29.83 billion in 2017 and is projected to reach USD 36.85 billion by 2023, at a CAGR of 3.8% during the forecast period. The growing demand for circuit materials due to technological advancements in the electronics sector is projected to drive the market during the forecast period.
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Based on the substrate, the fiberglass-epoxy segment of the circuit materials market is projected to register the highest CAGR, in terms of value, during the forecast period
Circuit materials, manufactured using the fiberglass-epoxy material, have superior mechanical and chemical properties. This raw material can provide a high strength-to-weight ratio. It also can withstand moisture and offers high resistance to fire. This factor is projected to drive the fiberglass-epoxy segment of the circuit materials market.
The communications application segment is projected to account for the largest share, in terms of value, in the circuit materials market during the forecast period
Circuit materials are increasingly being used in the communications application. In this application, the use of circuit materials is significant in various devices such as mobiles, telephones, and smart tablets. The communications application is projected to account for the largest share of the market between 2018 and 2023, in terms of value. The use of circuit materials has increased in the communications application, owing to the ability to provide enhanced conductivity on compact printed circuit boards of the various communication devices.
Key players operating in the circuit materials market include 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), and Nikkan Industries (Japan).
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