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. In this study, years that have been considered to estimate the market size for circuit materials are listed below:

Base Year – 2017
Estimated Year – 2018
Projected Year – 2023
Forecast Period – 2018–2023
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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.

APAC is the largest market for circuit materials, in terms of value. The growth of the market in APAC can be attributed to the growing communications, industrial electronics, and automotive applications in this region. The market in the region is projected to register the highest CAGR between 2018 and 2023, in terms of value, owing to the increasing demand for technologically advanced electronic products in various applications. The increasing demand in the APAC has led to innovations and developments in the electronics industry, making it a prominent circuit materials market, globally. Also, the growth and innovations in the automotive industry in the country are estimated to impact the circuit materials market positively.

Low supply of copper foils for the growing electronic industry act as key restraints to the growth of the circuit materials market.

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) are key players operating in the circuit materials market. These key players offer a wide range of circuit materials to strengthen their competitive positions and cater to the growing demand for circuit materials from the communications, industrial electronics, automotive, and aerospace & defense applications.

Shengyi Technology (China) is one of the major players in the circuit materials market. The company focuses on expanding its product portfolio and gaining a competitive edge over other players in the circuit materials market.

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