What Has Been the Progress and Growth of the Electrical And Electronics Materials Market in Recent Years?
The electrical and electronics materials market has seen considerable growth due to a variety of factors.
• In recent times, the market size for electrical and electronics materials has seen a significant expansion. There is projected growth from $2.77 billion in 2024 to $3.07 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.6%. The factors that have led to the growth in the historic period include demand for miniaturization, development of semiconductors, essentials for energy efficiency, modernization in printed circuit boards (PCBS), and the rising demand for high-performance polymers.
What Can Be Expected from the Electrical And Electronics Materials Market Size?
The Electrical And Electronics Materials market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market size of materials for electronics and electrical purposes is set to witness substantial expansion, forecasting a growth to $4.64 billion by 2029 at a compound annual growth rate (CAGR) of 10.9%.
Such expansion during the prediction period is attributed to the transition towards high-performance semiconductor materials, a surge in demand for adaptable electronics, IoT and wearable devices proliferation, emphasis on electric vehicles (EVs), and the need for eco-friendly materials. The prevailing trends for the forecast period encompass the evolution of nanotechnology, elastic and printable electronics, focus on materials for energy storage, the rise of wide bandgap semiconductors, and the arrival of sophisticated dielectric and insulating materials.
What Are the Critical Driver Fuelling The Electrical And Electronics Materials Market's Growth?
The expansion of the electric vehicle (EV) production is predicted to spur the rise of the electrical and electronic materials market. An electric vehicle is defined as a machine powered by an electric motor that utilizes energy from a battery, which can be replenished from an outside supply. The assortment of electrical and electronic materials is deemed a key component of electric vehicles, thus, a surge in EVs implies a greater need for these materials, stimulating the requirement for the electrical and electronic materials market. For example, data from the International Electric agency reports that in March 2024, approximately 14 million electric cars were registered globally in 2023, indicating a 35% surge from the 10.5 million in 2022. EVs constituted 18% of total car sales in 2023, an increase from 14% in 2022. This escalating trajectory signals a robust thrust in the EV market, as weekly registrations in 2023 surpassed 250,000. Battery electric vehicles made up 70% of the entire electric car stock in 2023. Hence, the swelling demand for electric vehicles is fuelling the expansion of the electrical and electronic materials market.
How Is The Electrical And Electronics Materials Market segmented?
The electrical and electronics materials market covered in this report is segmented –
1) By Product: Silicon Wafer, PCB Laminate, Photoresist, Other Products
2) By Voltage: Low Voltage, Medium Voltage, High Voltage
3) By Application: Semiconductors And Integrated Circuits (IC), Printed Circuit Boards (PCB), Other Applications
Subsegments:
1) By Silicon Wafer: Monocrystalline Silicon Wafer, Polycrystalline Silicon Wafer
2) By PCB Laminate: FR-4 Laminate, High-Frequency Laminate, Flexible Laminate
3) By Photoresist: Positive Photoresist, Negative Photoresist
4) By Other Products: Conductive Adhesives, Thermal Interface Materials, Insulating Materials
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What New Trends Are Influencing The Electrical And Electronics Materials Market?
The emergence of technological innovations is one of the key trends observed in the electrical and electronic materials industry. Many prominent companies in this sector are concentrating on the creation of new technologies to preserve their market leadership. Take for example, the US-based chemical firm DuPont, which unveiled a groundbreaking dry film material named CYCLOTENE DF6000 PID in December 2022. This product is photosensitive and ideal for use in intricate semiconductor packaging. The vast range of photolithography options offered by the CYCLOTENE DF6000 PID dry film material makes it well-suited for highly complex circuit patterns. In order to meet the growing needs of high-frequency data transfer applications, it provides signal integrity over an extensive frequency range, including 5G frequencies, and boasts of superior thermal stability.
Who Are the Key Players In The Electrical And Electronics Materials Market?
Major companies operating in the electrical and electronics materials market include:
• 3M Company
• E.I. du Pont de Nemours and Company
• Nitto Denko Corporation
• Illinois Tool Works Inc.
• KREMPEL GmbH & Co. KG
• Elantas GmbH
• Dow Inc.
• CMC Materials Inc.
• Von Roll Holding AG
• Kanto Chemical Co. Inc.
• Showa Denko Materials Co. Ltd.
• Weidmann Holding AG
• BASF SE
• Honeywell International Inc.
• Air Products and Chemicals Inc.
• Shin-Etsu Chemical Co. Ltd.
• AZ Electronic Materials S.A.
• Cabot Microelectronics Corporation
• Hitachi Chemicals Co. Ltd.
• JSR Corporation
• Sumitomo Chemical Group Corporation
• Tokyo Ohka Kogyo Co. Ltd.
• Mitsubishi Chemical Corporation
• Samsung Electronics Co. Ltd.
• Siemens AG
• LG Electronics Inc.
• Taiwan Semiconductor Manufacturing Company Limited
• Panasonic Corporation
• Thermo Fisher Scientific Inc.
• Haier Smart Home Co. Ltd.
• Schneider Electric SE
• SK Hynix Inc.
• Intel Corporation
• Agilent Technologies Inc.
• Texas Instruments Incorporated
• Analog Devices Inc.
What Is The Most Dominant Region In The Electrical And Electronics Materials Market?
Asia-Pacific was the largest region in the electrical and electronic materials market in 2024. Asia-Pacific is expected to be the fastest-growing region in the electrical and electronic materials market report during the forecast period. The regions covered in the electrical and electronics materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
