Selbyville, Delaware, June 18, 2024 (GLOBE NEWSWIRE) -- Circuit Materials Market value could reach USD 55.9 billion by 2032, as per a recent study by Global Market Insights Inc.
The report cites that the circuit material market is witnessing increasing demand driven by increasing R&D activities in the region. As technology advances and industry evolves, the need for high-performance circuit materials that can meet stringent performance requirements increases.
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R&D efforts focus on conductive circuit materials' internal, durable, and thermal consumption characteristics and help scale them up for emerging applications such as 5G connectivity, the Internet of Things (IoT), and electric vehicles. For instance, in April 2024, researchers at the University of Washington found improvements in circuit board materials by developing new recyclable materials. This new PCB material offered improved recyclability compared to traditional printed circuits. Furthermore, the increasing trend towards smaller electronic devices calls for circuits that can help keep them small without compromising performance.
Conducting material to uphold market demand
Circuit materials market from the conducting material segment could exhibit a commendable growth rate over 2024-2032, according to the report. As electronic devices become more sophisticated and smaller conductive materials are increasingly important for efficient signal transmission. Conductors play a critical role in the performance and reliability of electronic circuits, particularly to meet the evolving needs of modern high-voltage energy systems, thermal management, and reliability. The demand for mobility continues to grow as solutions are sought.
Flexible circuit materials to gain traction
Circuit materials market size from flexible segment will register a noteworthy CAGR from 2024 to 2032, as per the report. Flexible circuits offer flexibility and elasticity, enabling bendable and expandable electronic devices. These features enable innovation in wearable technology, flexible displays, and medical devices, among others. With the rise of the Internet of Things (IoT) and intelligent devices, the demand for circuit flexibility continues to grow. Manufacturers are focusing on developing flexible substrate conductors that can withstand bending without compromising performance, thus expanding the circuit materials industry.
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Europe to become a prominent marketplace
Europe circuit materials market will register a robust CAGR from 2024 to 2032. With a strong emphasis on technological innovation and development, European countries contribute significantly to the global electronics market. Regional demand in Europe is driven by the booming automotive, aerospace, telecommunications, and consumer electronics sectors in the region. Furthermore, stringent regulations on environmental sustainability and product quality are driving the adoption of advanced circuit products that meet regulatory standards. While Europe leads the way in technology growth and efficiencies, the demand for circuit products is growing, promising further market growth.
Circuit Materials Market Players
Panasonic Corporation, DuPont, Rogers Corporation, Nikkan Industries Co. Ltd, Kingboard Laminates Holdings Ltd, ITEQ Corporation, Shengyi Technology Co. Ltd, Taiflex Scientific Co. Ltd, Isola Group, Mitsubishi Materials Corporation
The targeted efforts of the companies in the industry drive the demand for the Circuit Material market. Through extensive research and development, companies continue to innovate to bring products with improved performance and reliability. This effort focuses on developing circuit products that meet the evolving needs of modern electronics, including high-speed data, miniaturization, and flexibility. The demand for circuit materials is met through innovative solutions designed for the market.
In May 2024, DuPont of Nemours Inc. (DD) unveiled plans to showcase state-of-the-art circuit products and solutions at the 2024 International Electrical Circuits Exhibition in Shanghai.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
