Global Circuit Materials Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

• In 2023, the circuit materials market grew due to increased demand for advanced circuit boards used in consumer electronics and automotive industries, especially for electric vehicles (EVs)​

• In 2024, the market saw a shift toward flexible and printed circuit materials, driven by the increasing use of wearables and IoT devices, offering innovative, lightweight alternatives​

The global circuit materials market exhibits a dynamic landscape, segmented by material class, substrate, conducting material, outer layer, application, and geography. In terms of material class, it encompasses substrates, conducting materials, and outer layers, each playing a pivotal role in the construction and performance of electronic circuits. Substrates form the base upon which electronic components are mounted, with options including fiberglass-epoxy, paper-phenolic, CEM, polyimide, and others, catering to diverse application requirements ranging from consumer electronics to aerospace systems.

Conducting materials, predominantly copper, are essential for facilitating electrical conductivity within circuits. While copper remains a dominant choice, innovations in alternative conducting materials are gaining traction, offering unique properties and capabilities to meet specialized needs. Additionally, the outer layer of circuits serves as a protective barrier, shielding against environmental factors and ensuring longevity. Various options such as liquid ink photoimageable solder mask, dry film photoimageable, and others provide manufacturers with flexibility in designing circuits suitable for specific applications.

The applications of circuit materials span across industries, including communications, industrial electronics, automotive, aerospace & defense, and others. Each sector demands tailored solutions optimized for performance, reliability, and efficiency. Moreover, geographical segmentation underscores the global distribution of market demand, with regions like North America, Europe, Asia Pacific, Middle East and Africa, and Latin America exhibiting unique market dynamics influenced by factors such as technological advancements, regulatory frameworks, and industrial landscapes. This segmentation framework provides a comprehensive understanding of the global circuit materials market, reflecting its multifaceted nature and diverse applications across industries and regions.

Global Circuit Materials Segment Analysis

In this report, the Global Circuit Materials Market has been segmented by Material Class, Substrate, Conducting Material, Outer Layer, Application and Geography.

Global Circuit Materials Market, Segmentation by Material Class

The Global Circuit Materials Market has been segmented by Material Class into Substrate, Conducting Material and Outer Layer.

Substrates form the foundation of electronic circuits, providing a surface for mounting electronic components and facilitating electrical connections. This segment includes materials such as fiberglass-epoxy, paper-phenolic, CEM (Composite Epoxy Material), polyimide, and others. Different substrates offer varying properties suited for different applications, such as fiberglass-epoxy for standard PCBs and polyimide for flexible circuits used in wearable devices or aerospace applications.

Conducting materials are responsible for transmitting electrical signals throughout the circuit. Copper is the primary conducting material used due to its excellent conductivity and affordability. However, this segment also encompasses alternative conducting materials tailored for specific applications, such as silver or gold plating for high-frequency circuits or conductive polymers for flexible electronics.

Outer layers provide protection and insulation for the underlying circuitry, shielding it from environmental factors and mechanical stress. This segment includes materials such as liquid ink photoimageable solder mask, dry film photoimageable solder mask, and others. These materials are applied to the surface of the circuit to define conductive pathways and provide a protective barrier against moisture, dust, and corrosion.

Global Circuit Materials Market, Segmentation by Substrate

The Global Circuit Materials Market has been segmented by Substrate into Fiberglass-Epoxy, Paper-Phenolic, CEM, Polyimide and Others.

Fiberglass-epoxy substrates are widely utilized in the production of printed circuit boards (PCBs) due to their excellent electrical insulation properties, mechanical strength, and cost-effectiveness. These substrates offer good dimensional stability and are suitable for a wide range of applications across industries.

Paper-phenolic substrates consist of layers of paper impregnated with phenolic resin, offering good electrical insulation and mechanical stability. While not as widely used as fiberglass-epoxy, paper-phenolic substrates find applications in low-cost consumer electronics, automotive components, and household appliances.

CEM substrates are composite materials consisting of woven fiberglass cloth impregnated with epoxy resin. They offer improved mechanical strength and thermal stability compared to paper-phenolic substrates, making them suitable for applications requiring higher performance and reliability.

Polyimide substrates, also known as flexible substrates, are highly flexible and resistant to heat, chemicals, and mechanical stress. These substrates are used in applications where flexibility is required, such as in flexible circuits for wearable devices, medical implants, and aerospace systems.

This category encompasses other substrate materials not mentioned above, including materials like ceramic substrates, metal core substrates (e.g., aluminum or copper), and composite substrates tailored for specific applications or specialized requirements.

Global Circuit Materials Market, Segmentation by Conducting Material

The Global Circuit Materials Market has been segmented by Conducting Material into Copper and Others.

Copper is the dominant conducting material used in the manufacturing of printed circuit boards (PCBs) and other electronic components. Renowned for its excellent electrical conductivity, affordability, and ease of fabrication, copper is extensively utilized in various forms, including copper foils and copper traces, to create conductive pathways within circuits.

The category of Others encompasses alternative conducting materials used in specific applications or niche markets. These materials may include silver, gold, aluminum, conductive polymers, and carbon-based materials like graphene or carbon nanotubes. While not as prevalent as copper, these alternative materials offer unique properties such as higher conductivity, corrosion resistance, or flexibility, making them suitable for specialized applications in industries such as aerospace, automotive, and telecommunications.

The market based on conducting materials, manufacturers can tailor circuit materials to meet specific performance requirements, environmental considerations, and cost constraints of different applications. This segmentation facilitates innovation and customization in circuit design, enabling the development of high-performance electronic devices across various industries while also addressing emerging trends such as miniaturization, high-frequency applications, and flexible electronics.

Global Circuit Materials Market, Segmentation by Outer Layer

The Global Circuit Materials Market has been segmented by Outer Layer into Liquid Ink Photoimageable Solder Mask, Dry Film Photoimageable and Others.

Liquid ink photoimageable solder mask is a commonly used material in the manufacturing of printed circuit boards (PCBs). It is applied as a liquid and then cured using ultraviolet (UV) light to form a protective layer over the circuit traces. This solder mask prevents solder bridges and ensures proper soldering during the assembly process. Additionally, it provides insulation against moisture, dust, and environmental contaminants, enhancing the reliability and longevity of electronic circuits.

Dry film photoimageable solder mask is another type of material used as an outer layer in PCB manufacturing. Unlike liquid ink solder mask, dry film solder mask comes in the form of a thin, dry film that is laminated onto the circuit board surface. It is then exposed to UV light through a photomask and developed to remove the unexposed areas, leaving behind the protective solder mask layer. Dry film solder mask offers advantages such as precise control over thickness and improved resolution, making it suitable for high-density circuit designs and fine pitch components.

The category of Others encompasses additional types of outer layer materials not mentioned above, which may include specialty coatings, conformal coatings, and alternative solder mask formulations tailored for specific applications or performance requirements. These materials offer unique properties such as enhanced thermal resistance, chemical resistance, or compatibility with specific assembly processes.

The market based on outer layer materials, manufacturers can select the most suitable material for their specific application needs, considering factors such as assembly process, environmental conditions, and performance requirements. This segmentation facilitates the development of reliable and durable electronic circuits across various industries, ensuring optimal functionality and longevity of electronic devices and systems.

Global Circuit Materials Market, Segmentation by Application

The Global Circuit Materials Market has been segmented by Application into Communications, Industrial Electronics, Automotive, Aerospace & Defense and Others.

The communications sector encompasses the production of devices and systems for telecommunications, networking, and data transmission. Circuit materials play a crucial role in the manufacturing of communication equipment such as routers, switches, modems, antennas, and mobile devices. These materials enable high-speed data transfer, signal integrity, and reliability, meeting the demands of modern communication infrastructure and technologies like 5G networks, IoT devices, and wireless communication systems.

Industrial electronics refer to the use of electronic components and systems in industrial applications such as automation, control systems, robotics, and instrumentation. Circuit materials are essential for manufacturing industrial-grade electronic devices capable of withstanding harsh operating environments, temperature extremes, and high levels of vibration and shock. These materials enable the development of reliable and durable electronic systems used in manufacturing plants, power generation facilities, transportation infrastructure, and industrial machinery.

The automotive sector relies heavily on electronic components and systems for vehicle control, safety, navigation, entertainment, and connectivity. Circuit materials are integral to the production of automotive electronics such as engine control units (ECUs), sensors, infotainment systems, navigation systems, and advanced driver assistance systems (ADAS). These materials ensure the performance, durability, and safety of electronic systems in vehicles, meeting stringent automotive industry standards for reliability and quality.

The aerospace and defense sector demands electronic components and systems capable of meeting rigorous performance, reliability, and safety requirements. Circuit materials are critical for manufacturing aerospace electronics such as avionics, flight control systems, radar systems, communication systems, and missile guidance systems. These materials enable the development of lightweight, high-performance electronic systems that can operate in extreme environmental conditions, including high altitude, high temperature, and radiation exposure.

The category of Others encompasses additional applications and industries not mentioned above, including healthcare, consumer electronics, energy, and IoT devices. Circuit materials are utilized in various other sectors and applications where electronic components and systems are integral to product functionality, performance, and reliability.

Global Circuit Materials Market, Segmentation by Geography

In this report, the Global Circuit Materials Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Circuit Materials Market Share (%), by Geographical Region, 2024

North America boasts a mature and technologically advanced electronics industry, driven by innovation hubs in the United States and Canada. The region is characterized by a strong presence of semiconductor manufacturers, electronics OEMs, and research institutions, fostering continuous growth and development in the circuit materials market. Key application sectors include communications, automotive, aerospace & defense, and consumer electronics. Additionally, stringent quality standards and environmental regulations drive demand for high-performance and environmentally sustainable circuit materials.

Europe is home to a diverse electronics industry, with leading manufacturers and suppliers situated in countries such as Germany, the United Kingdom, France, and Italy. The region emphasizes innovation and sustainability, driving demand for circuit materials tailored for energy-efficient and eco-friendly electronic devices. Automotive electronics, industrial automation, telecommunications, and aerospace applications are prominent sectors driving market growth in Europe. Furthermore, stringent regulatory requirements, such as RoHS (Restriction of Hazardous Substances) compliance, influence material selection and manufacturing processes.

Asia Pacific stands as a powerhouse in the global circuit materials market, fueled by the presence of major electronics manufacturing hubs in countries like China, Japan, South Korea, and Taiwan. The region benefits from a robust supply chain ecosystem, advanced manufacturing capabilities, and a large consumer base driving demand for electronic devices. Asia Pacific leads in the production of smartphones, consumer electronics, automotive electronics, and industrial automation systems, contributing significantly to the demand for circuit materials. Moreover, ongoing technological advancements and investments in infrastructure further bolster market growth in the region.

The Middle East and Africa region exhibit a growing demand for electronic components and systems driven by infrastructure development, urbanization, and economic diversification initiatives. While the electronics industry in this region is relatively smaller compared to other regions, there's increasing adoption of electronic devices in sectors such as telecommunications, automotive, and industrial automation. Market growth is supported by investments in smart cities, renewable energy projects, and telecommunications infrastructure.

Latin America represents an emerging market for circuit materials, characterized by growing industrialization, urbanization, and technological adoption. Countries like Brazil, Mexico, and Argentina are key contributors to the region's electronics industry, with applications spanning automotive electronics, consumer electronics, telecommunications, and healthcare. Market growth in Latin America is driven by rising disposable incomes, urbanization trends, and government initiatives supporting digital transformation and industrial development.

This report provides an in depth analysis of various factors that impact the dynamics of Global Circuit Materials Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers

• Technology Advancements
• Increasing Electronics Demand
• Emerging Technologies

• Miniaturization - Miniaturization stands as a transformative trend driving innovation across industries, reshaping the design and functionality of electronic devices. As technology advances, there's an increasing demand for smaller, lighter, and more portable electronic products with enhanced performance and functionality. Miniaturization enables manufacturers to pack more features and capabilities into compact form factors, catering to consumer preferences for sleek and portable devices. From smartphones and wearables to medical implants and automotive sensors, miniaturization plays a pivotal role in revolutionizing product design and user experiences.

  Miniaturization offers significant benefits beyond size reduction. It contributes to improvements in energy efficiency, allowing electronic devices to operate with lower power consumption and longer battery life. This is particularly critical in applications like IoT devices and wearable electronics, where energy efficiency is paramount for extended device operation without frequent recharging or battery replacement. Additionally, miniaturization enables advancements in manufacturing processes, driving efficiencies and cost reductions through the use of smaller components, simplified assembly techniques, and higher production yields. These efficiencies contribute to the scalability and affordability of electronic products, fostering broader adoption and market penetration.

  Miniaturization opens up new opportunities for innovation and differentiation in product design. By shrinking the footprint of electronic components and systems, manufacturers can explore novel form factors, integration possibilities, and use cases previously deemed impractical or unfeasible. For example, advancements in miniaturization have led to the development of flexible and stretchable electronics, enabling applications in wearable health monitoring, electronic skin, and smart textiles. Additionally, miniaturization facilitates the integration of sensors, actuators, and communication modules into compact devices, paving the way for advancements in robotics, autonomous vehicles, and industrial automation. Overall, miniaturization continues to drive progress in electronics, enabling the creation of smarter, more capable, and more versatile devices to meet the evolving needs of society.

Restraints

• Supply Chain Disruptions
• Raw Material Price Volatility
• Technological Complexity

• Environmental Concerns - Environmental concerns are increasingly shaping the landscape of the circuit materials market, influencing product development, regulatory compliance, and consumer preferences. With growing awareness of environmental issues such as climate change, pollution, and resource depletion, stakeholders in the electronics industry are under pressure to adopt sustainable practices and reduce the environmental footprint of their products and processes.

  One significant environmental concern in the circuit materials market is the use of hazardous substances in electronic products. Regulations such as the Restriction of Hazardous Substances (RoHS) directive in Europe and similar regulations worldwide restrict the use of certain hazardous materials such as lead, mercury, cadmium, and brominated flame retardants in electronic components and materials. Compliance with these regulations requires manufacturers to invest in alternative materials and manufacturing processes that minimize or eliminate the use of hazardous substances, driving innovation in eco-friendly circuit materials.

  Electronic waste (e-waste) management has emerged as a critical environmental issue associated with the disposal and recycling of electronic products at the end of their lifecycle. Circuit materials, including substrates, conducting materials, and outer layers, often contain valuable metals and materials that can be recovered and reused through proper recycling processes. However, improper disposal of e-waste can lead to environmental contamination and health hazards due to the release of toxic substances into soil, water, and air. As a result, there's a growing emphasis on sustainable product design, extended producer responsibility (EPR), and e-waste recycling initiatives to minimize the environmental impact of electronic products throughout their lifecycle.

  The energy consumption and carbon footprint associated with the manufacturing and operation of electronic devices are also of concern. Energy-efficient circuit materials and design practices can help reduce the power consumption of electronic devices, contributing to lower greenhouse gas emissions and energy costs. Additionally, the adoption of renewable energy sources in manufacturing processes and supply chains can further mitigate environmental impacts.

Opportunities

• 5G Deployment
• Internet of Things (IoT) Expansion
• Electric Vehicles (EVs) Adoption

• Flexible Electronics Development - Flexible electronics development represents a transformative frontier in the electronics industry, offering unprecedented opportunities for innovation and application versatility. Unlike traditional rigid electronics, flexible electronics leverage advanced materials and manufacturing techniques to create electronic circuits and devices that can bend, stretch, and conform to various shapes and surfaces. This flexibility opens up new possibilities for product design, enabling the development of wearable devices, flexible displays, rollable screens, smart textiles, and bendable sensors, among other applications.

  One of the key drivers behind the development of flexible electronics is the demand for lightweight, portable, and ergonomic electronic products. Flexible electronic circuits and components can be integrated into clothing, accessories, and everyday objects, enabling seamless integration of technology into our daily lives. Wearable devices, such as smartwatches, fitness trackers, and healthcare monitors, benefit from the flexibility and conformability of flexible electronics, allowing for comfortable and unobtrusive wear while maintaining functionality and performance.

  Flexible electronics offer advantages in terms of durability and reliability compared to traditional rigid electronics. Flexible circuits are less prone to damage from bending, twisting, and shock, making them suitable for applications in harsh environments, automotive interiors, aerospace systems, and industrial automation. Additionally, flexible electronics can be manufactured using thin, lightweight materials, reducing overall device weight and enabling new form factors and design possibilities.

  The development of flexible electronics is driving advancements in materials science, manufacturing processes, and device integration techniques. Researchers and engineers are exploring novel materials such as organic semiconductors, conductive polymers, and carbon-based nanomaterials to achieve flexibility, stretchability, and mechanical robustness in electronic devices. Advanced fabrication methods, including printing, coating, and roll-to-roll processing, enable scalable production of flexible electronic components with high throughput and cost-effectiveness.

Key players in Global Circuit Materials Market include;

• Shengyi Technology Co., Ltd.
• Kingboard Laminates Holdings Ltd.
• ITEQ Corporation
• Dowdupont
• Jinan Guoji Technology Co., Ltd.
• Eternal Materials Co., Ltd.
• Rogers Corporation
• Taiflex Scientific Co., Ltd.
• Isola Group
• Nikkan Industries Co.

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis