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How has the electrical and electronics materials market grown in recent years?

In the last few years, the market size for electrical and electronics materials has seen rapid growth. The market, which will expand from a value of $2.77 billion in 2024, is expected to reach $3.07 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.6%. The significant growth experienced in the historic period can be attributed to factors such as the increasing demand for miniaturization, semiconductor evolution, the need for energy efficiency, advancements in printed circuit boards (PCBS), as well as the surging demand for high-performance polymers.

How is the electrical and electronics materials market size expected to evolve during the forecast period?

The market for electrical and electronics materials is set for a swift expansion in the coming years, with an anticipated worth of $4.64 billion in 2029, reflecting a compound annual growth rate (CAGR) of 10.9%. This growth throughout the predicted period can be linked to the transition towards sophisticated semiconductor materials, the burgeoning need for flexible electronics, the growth of IoT and wearable technologies, the attention on electric vehicles (EVs), as well as the demand for eco-friendly materials. Key market trends during this period encompass breakthroughs in nanotechnology, flexible and printable electronics, a concentration on energy storage materials, the rise of wide bandgap semiconductors, and advanced dielectric and insulating materials.

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Which key drivers are propelling the electrical and electronics materials market’s growth?

The electric and electronic materials market is set to experience growth, driven by an increase in the production of electric vehicles (EVs). Essentially, an electric vehicle is a machine powered by an electric motor, which draws energy from a battery that can be recharged externally. As electrical and electronic materials form the integral parts of these vehicles, a surge in the production of EVs directly boosts the need for these components, thus enhancing the market. For example, as per the International Electric Agency, a France-based intergovernmental organization, roughly 14 million electric vehicles were recorded globally in March 2024, an uptick of 35% from the 10.5 million registered in 2022. The share of electric vehicles in total car sales rose to 18% in 2023 from 14% in 2022, reflecting solid progress in the EV market and weekly registrations in 2023 surpassing the 250,000 mark. Battery-driven electric vehicles formed 70% of the entire electric car inventory in 2023. Hence, the rising demand for EVs is stimulating the expansion of the electrical and electronic materials market.

What are the market segments in the electrical and electronics materials industry?

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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Which leading companies are shaping the growth of 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 key trends are currently impacting the electrical and electronics materials market’s development?

The trend of technological innovation is increasingly recognized as crucial within the electrical and electronic materials sector. Dominant businesses in this field are investing in the creation of new technologies to maintain their market standing. An example of this could be seen when DuPont, an American chemical company, introduced CYCLOTENE DF6000 PID dry film material in December 2022. This fresh dry film product possesses photo imaging (PID) capabilities and is considered ideal for sophisticated semiconductor packaging. The CYCLOTENE DF6000 PID dry film material’s comprehensive photolithography scope make it ideal for intricate circuit designs. To meet the growing requirements of high-frequency data transmission applications, this material provides signal integrity across a broad frequency spectrum, inclusive of 5G frequencies, and boasts excellent thermal stability.

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Which geographic areas are influencing the growth of 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

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