Electrical and Electronics Materials Global Market Report 2024

The electrical and electronics materials market size has grown rapidly in recent years. It will grow from $2.53 billion in 2023 to $2.82 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth observed in the historical period can be attributed to the demand for miniaturization, the evolution of semiconductor technology, the need for energy efficiency, advancements in printed circuit boards (PCBs), and the increasing demand for high-performance polymers.

The electrical and electronics materials market size is expected to see rapid growth in the next few years. It will grow to $4.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the forecast period can be attributed to a shift towards advanced semiconductor materials, a rising demand for flexible electronics, the expansion of the Internet of Things (IoT) and wearable devices, a heightened focus on electric vehicles (EVs), and an increasing demand for sustainable materials. Key trends expected in this period encompass advancements in nanotechnology, the development of flexible and printable electronics, a concentrated focus on energy storage materials, the emergence of wide bandgap semiconductors, and innovations in advanced dielectric and insulating materials.

The surge in electric vehicle (EV) production is anticipated to drive the growth trajectory of the electrical and electronic materials market in the foreseeable future. Electric vehicles, powered by electric motors and rechargeable from external sources, heavily rely on various electrical and electronic materials as fundamental components. The uptick in EV production necessitates a proportional increase in these materials, thereby amplifying the demand within the electrical and electronic materials market. According to the Global EV Outlook 2022 report, the sales of electric vehicles surged to a record high of 6.6 million units in 2021, doubling from the preceding year's sales figures of 2.98 million units. This robust growth in electric vehicle adoption significantly contributes to the escalating demand for electrical and electronic materials, driving market expansion.

The escalating demand for consumer electronics is poised to be a significant driver propelling the growth of the electrical and electronic materials market. Consumer electronics, encompassing devices tailored for personal use - such as smartphones, laptops, and wearables - rely extensively on electrical and electronic materials to enable functionality, connectivity, and device miniaturization. Data from the Japan Electronics and Information Technology Industries Association highlights the substantial growth in total electronic equipment production, reaching $6,722 million (¥771,457 million) in Japan. Specifically, the production value for consumer electronics soared to $280 million (¥32,099 million) in May 2023, marking a notable increase from $230.9 million (¥25,268 million) reported in May 2022. This burgeoning demand for consumer electronics augurs well for the electrical and electronic materials market, driving its growth trajectory.

Technological advancements emerge as a pivotal trend fostering innovation within the electrical and electronic materials market. Major companies operating in this sector are directing their efforts towards developing cutting-edge technologies to fortify their market presence. Notably, DuPont, a prominent US-based chemical company, introduced the CYCLOTENE DF6000 PID dry film material in December 2022. This innovative dry film material, photo-imageable (PID) in nature, is specifically engineered for sophisticated semiconductor packaging. Its extensive photolithography latitude renders it suitable for intricate circuit layouts. Furthermore, to meet the escalating demands of high-frequency data transmission applications, this material guarantees signal integrity across a wide frequency spectrum, encompassing 5G frequencies, while also offering high thermal stability. Such advancements in technology contribute significantly to the evolution and growth of the electrical and electronic materials market.

Prominent companies within the electrical and electronic materials market are dedicatedly focusing on pioneering innovations, exemplified by the development of cutting-edge solutions such as multi-layer circuit board materials, aimed at securing a competitive edge and augmenting revenue streams. Multi-layer circuit board materials pertain to substances employed in fabricating multi-layer printed circuit boards (PCBs) boasting multiple conductive material layers separated by insulating layers. These materials enable more intricate and compact circuit designs compared to single or double-layer PCBs. Notably, in January 2022, Panasonic Corporation, a renowned Japanese electronics firm, introduced the MEGTRON 8 Multi-Layer Circuit Board Materials specifically engineered for high-speed communication networking equipment, including routers and switches. Leveraging Panasonic's prowess in resin design and material compounding, MEGTRON 8 delivers exceptional dielectric properties and minimizes transmission loss - a critical aspect for high-performance, high-layer-count circuit boards. By integrating ultra-low dielectric dissipation factor glass cloth and low-profile copper foil, MEGTRON 8 attains the industry's lowest transmission loss within its category. This achievement significantly enhances data communication capacity and speed while potentially reducing power consumption through lowered transmission loss, marking a significant stride in circuit board material advancements.

In April 2021, CMC Materials, a reputable US-based manufacturer and supplier specializing in critical materials, completed the acquisition of International Test Solutions for an undisclosed sum. This strategic acquisition expanded CMC Materials' portfolio of pivotal, empowering solutions adept at addressing clients' most intricate challenges. International Test Solutions, an American manufacturer specializing in engineered cleaning products for the semiconductor market, further bolstered CMC Materials' offering of essential solutions, particularly in the realm of semiconductor technology, reinforcing the company's position and potential for catering to diverse market needs.

Major companies operating in the electrical and electronics materials market report are 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., KMG Chemicals 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..

Asia-Pacific was the largest region in the electrical and electronic materials market in 2023. 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. The countries covered in the electrical and electronics materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Key product types within the realm of electrical and electronic materials encompass silicon wafers, PCB laminates, photoresists, and other related products. Silicon wafers, for instance, are thin slices of crystallized silicon integral to the manufacturing of microchips and electronic devices. Voltage types, including low voltage, medium voltage, and high voltage, find applications in diverse areas such as semiconductors and integrated circuits (IC), printed circuit boards (PCB), among other electronic applications.

The electrical and electronic materials market research report is one of a series of new reports that provides electrical and electronic materials market statistics, including electrical and electronic materials industry global market size, regional shares, competitors with an electrical and electronic materials market share, detailed electrical and electronic materials market segments, market trends and opportunities, and any further data you may need to thrive in the electrical and electronic materials industry. This electrical and electronic materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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