The electrical and electronics materials market size has been rapidly increasing in recent years. It is forecasted to grow from $2.77 billion in 2024 to $3.07 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The surge in the historic period can be credited to factors such as the growing miniaturization demand, the evolution of semiconductors, increased energy efficiency requirements, advancements in printed circuit boards (PCBS), and the demand for high-performance polymers.
Furthermore, according to projections, the market size is anticipated to see continuous growth, ballooning to $4.64 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to a shift towards advanced semiconductor materials, demand for flexible electronics, expansion of IoT and wearable devices, a focus on electric vehicles (EVs), demand for sustainable materials. Major trends in the forecast period encompass advancements in nanotechnology, flexible and printable electronics, focus on energy storage materials, emergence of wide bandgap semiconductors, advanced dielectric, and insulating materials.
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What Is Driving The Electrical And Electronics Material Market Forward?
The growth in production of electric vehicles (EVs) is expected to fuel the growth of the electrical and electronic materials market in the near future. An electric vehicle refers to a vehicle with an electric motor powered by a battery and charged from an external source. The various electrical and electronic materials considered as primary components in electric vehicles have led to a boost in the demand for these materials, thereby spurring the growth of the electrical and electronic materials market. Reports from the International Electric Agency in France indicate that in 2023, about 14 million electric cars were registered globally, marking a 35% increase over the 10.5 million registered in 2022. This trend underscores a strong momentum in the EV market, fueling the demand for electrical and electronic materials further.
What Are The Main Segments In The Global Electrical And Electronics Material Market?
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
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Which Are The Major Players In The Electrical And Electronics Material 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 Are The Emerging Trends In The Electrical And Electronics Market?
Technological advancement is the key trend gaining popularity in the electrical and electronic materials market. Major players in the market are focusing on developing new technologies to sustain their position. One example is DuPont, a US-based chemical company, which recently launched CYCLOTENE DF6000 PID dry film material, a new medically suitable product that offers signal integrity over a wide frequency range and has high thermal stability.
Which Region Shows The Fastest Growth In The Electrical And Electronics Material Market?
Asia-Pacific was the largest region in the electrical and electronic materials market in 2024 and is projected to be the fastest-growing region 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, and Africa.
How Is The Global Electrical And Electronics Material Market Defined?
Electrical and electronic materials are types of materials used as critical components in numerous device applications. These materials are utilized in the electrical, electronic, and microelectronics sectors for constructing packaging materials, communication cables, optical fibers, displays, along with supervisory and control devices. The Electrical And Electronics Materials Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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