New York, United States , Aug. 28, 2024 (GLOBE NEWSWIRE) -- The Global Advanced Materials for Electronics Market Size is Expected to Grow from USD 32.65 Billion in 2023 to USD 65.41 Billion by 2033, at a CAGR of 7.20% during the forecast period 2023-2033.
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Advanced materials for electronics are specially designed substances that offer enhanced properties to improve the performance and functionality of electronic devices. Advanced materials for electronics are designed to meet the rigorous demands of modern electronics, such as quicker speeds, increased efficiency, and downsizing. Advanced materials for electronics increase the efficiency and functionality of components such as transistors, integrated circuits, and displays, allowing the creation of faster, more dependable, and more adaptable electronic devices. Several important factors fuel the advanced materials for the electronics market, including fast technological innovations that drive demand for high-performance materials such as silicon carbide and graphene. The expanding adoption of consumer electronics, electric vehicles, and renewable energy solutions considerably enhances the industry, since these industries require innovative materials for increased efficiency and performance. However, advanced materials for the electronics sector face various constraints that can limit their growth, including high production costs and complex manufacturing methods that present considerable barriers to general adoption.
Browse key industry insights spread across 225 pages with 115 Market data tables and figures & charts from the report on the "Global Advanced Materials for Electronics Market Size, Share, and COVID-19 Impact Analysis, By Type (Graphene Material, Silicon Carbide Material, Ceramic Material, Smart Glass Material, Others), By Application (Photovoltaic Cells, Displays, Touch Screens, Sensors, Semiconductors, Wearable Electronics Devices, Biomedical Devices, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The silicon carbide material segment is predicted to hold the largest market share through the forecast period.
Based on the type, the advanced materials for the electronics market are classified into graphene material, silicon carbide material, ceramic material, smart glass material, and others. Among these, the silicon carbide material segment is predicted to hold the largest market share through the forecast period. This dominance is driven by the superior properties of SiC, such as high thermal conductivity, strong electric field breakdown strength, and temperature resistance, making it excellent for high-power and high-frequency applications.
The semiconductors segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the advanced materials for the electronics market are divided into photovoltaic cells, displays, touch screens, sensors, semiconductors, wearable electronics devices, biomedical devices, and others. Among these, the semiconductors segment is anticipated to hold the highest market share during the projected timeframe. This dominance is driven by growing demand for modern technology, such as cellphones, laptops, and electric vehicles, which rely largely on semiconductors.
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Europe is estimated to hold the largest share of the advanced materials for electronics market over the forecast period.
Europe is estimated to hold the largest share of the advanced materials for electronics market over the forecast period. The European region is distinguished by its robust research and development infrastructure, established industrial base, and substantial government assistance. The region's focus on sustainability and high-tech manufacturing further enhances its position.
Asia Pacific is predicted to have the highest CAGR growth in the advanced materials for electronics market over the forecast period. Asia Pacific's fastest expansion is owing to its thriving electronics manufacturing sector, rapid technological adoption, and rising consumer electronics demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the advanced materials for electronics market include BASF SE, Renesas Electronics Corporation., Nanosys Inc., STMicroelectronics, Toshiba Materials Co., Ltd., Arkema, Taiwan Semiconductor Manufacturing Company Limited., SAMSUNG SDI CO., LTD., CVD Equipment Corporation, Broadcom Inc., Heraeus Electronics, The Battery Show Europe, Mitsubishi Chemical Europe, UNIVERSAL DISPLAY, and Others.
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Recent Developments
- In April 2024, Penn State and Morgan Advanced Materials signed a memorandum of understanding (MOU) to catalyze research and development of silicon carbide, known as SiC, a semiconductor material that operates more efficiently at high voltages than competing technologies.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the advanced materials for the electronics market based on the below-mentioned segments:
Global Advanced Materials for Electronics Market, By Type
- Graphene Material
- Silicon Carbide Material
- Ceramic Material
- Smart Glass Material
- Others
Global Advanced Materials for Electronics Market, By Application
- Photovoltaic Cells
- Displays
- Touch Screens
- Sensors
- Semiconductors
- Wearable Electronics Devices
- Biomedical Devices
- Others
Global Advanced Materials for Electronics Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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