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​

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

Circuit Materials Market, Segmentation by Substrate

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

Fiberglass-Epoxy

Fiberglass-Epoxy leads the Circuit Materials Market with nearly 50% share, offering excellent mechanical strength, thermal resistance, and cost-effectiveness, making it ideal for rigid PCBs across multiple industries.

Paper-Phenolic

Paper-Phenolic holds about 15% of the market, providing a low-cost option for consumer electronics where lightweight and moderate performance are suitable.

CEM (Composite Epoxy Material)

CEM represents around 10%, blending fiberglass and phenolic paper to achieve improved mechanical and electrical properties, commonly found in double-sided PCBs.

Polyimide

Polyimide accounts for approximately 20%, offering flexibility, high thermal endurance, and chemical resistance, essential for flex circuits and high-temperature environments.

Others

Others make up about 5%, comprising ceramics, PTFE, and advanced composites used in high-performance, specialized circuit applications.

Global Circuit Materials Market, Segmentation by Conducting Material

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

Copper

Copper leads the Circuit Materials Market, capturing approximately 95% of the total share. Its superior conductivity, cost-effectiveness, and widespread use in PCBs and electronics manufacturing make it the preferred choice for a majority of applications.

Others

Others make up about 5% of the market, comprising materials like silver, gold, and aluminum. These materials are used in specialized electronic applications requiring enhanced conductivity, corrosion resistance, or lightweight properties.

Circuit Materials Market, Segmentation by Outer Layer

The 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

Liquid Ink Photoimageable Solder Mask (LPI) leads the Circuit Materials Market, capturing around 60% of the total share. It delivers superior adhesion, thermal stability, and precision, making it ideal for high-density PCBs used in consumer electronics and automotive systems.

Dry Film Photoimageable

Dry Film Photoimageable holds approximately 30% of the market, offering uniform application and easy processing, perfect for multilayer circuit boards and high-volume manufacturing.

Others

Others make up nearly 10%, comprising epoxy-based coatings, polyimide layers, and other materials designed for specialized applications, delivering reliability in high-stress and extreme environments.

Circuit Materials Market, Segmentation by Application

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

Communications

Communications leads the Global Circuit Materials Market, capturing around 30% of the total share. High demand for advanced materials in telecom equipment, smartphones, and network infrastructure fuels market growth.

Industrial Electronics

Industrial Electronics holds about 25%, with circuit materials essential for control systems, automation technologies, and industrial equipment, offering superior durability and performance.

Automotive

Automotive accounts for roughly 20%, driven by rising use of electronics in vehicles for control, infotainment, and safety systems, demanding high-reliability circuit materials.

Aerospace & Defense

Aerospace & Defense contributes nearly 15%, utilizing high-performance materials in avionics, radars, and mission-critical electronics that require temperature resilience and high reliability.

Others

Others make up about 10%, covering medical electronics, consumer products, and renewable energy systems, where specialized circuit materials improve performance and efficiency.

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.

Circuit Materials Market Share (%), by Geographical Region

North America

North America commands nearly 35% of the Global Circuit Materials Market, bolstered by advanced electronics manufacturing, automotive innovations, and strong presence of technology giants.

Europe

Europe contributes about 30%, with growing adoption of high-performance circuit materials in sectors like automotive, telecom, and industrial electronics.

Asia Pacific

Asia Pacific leads the market with almost 25%, fueled by rapid industrial growth, high consumer electronics demand, and significant semiconductor production.

Middle East and Africa

Middle East and Africa make up around 6%, benefiting from increased infrastructure investments and the growing penetration of communication technologies.

Latin America

Latin America represents roughly 4%, driven by expanding electronics sectors and the growing use of automotive electronics in the region.

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