• In 2025, Advanced Chip and Circuit Materials launched its new Celeritas Series laminates and prepregs for PCIe Gen 6/7 multilayer PCBs, supporting high-speed data transmission up to 224 Gb/s, showcased at DesignCon in Santa Clara.

• In 2022, TTM Technologies enhanced its aerospace and defense portfolio by acquiring Telephonics for 330 million, expanding its RF and specialty PCB capabilities.

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.

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 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 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 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 Circuit Materials Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers, Restraints and Opportunity Analysis

Drivers

• Increasing Electronics Demand
• Growth in electronics manufacturing

• Expansion of flexible and miniaturized circuits - The rapid growth of flexible and miniaturized circuits is redefining the circuit materials market. Consumers now expect electronics that bend, roll, or embed seamlessly into wearables, medical patches, and foldable phones. Meeting these form-factor demands requires ultra-thin polyimide films, low-profile copper foils, and stretchable conductive inks that maintain electrical integrity under repeated flexing. Material suppliers that can consistently deliver micro-thickness substrates with tight dimensional tolerance are capturing share as OEMs transition from rigid PCBs to flexible printed circuits (FPCs) and system-in-package (SiP) assemblies.

  Miniaturization raises signal-integrity challenges that conventional laminates struggle to handle. High-density interconnect (HDI) designs rely on low-dielectric-loss resins, advanced glass fabrics, and laser-drillable prepregs to preserve impedance at gigahertz frequencies used in 5G and Wi-Fi 7. At sub-50 μm line-and-space geometries, copper roughness and resin weave become critical; next-generation laminates with smooth electrodeposited copper and flat-weave reinforcement are in high demand to curb insertion loss and skew. These performance requirements drive volume growth for premium circuit materials even as overall board area shrinks.

  Manufacturing innovation further accelerates adoption. Additive electronics printing, roll-to-roll vacuum metallization, and laser direct structuring enable economically viable production of thin, multilayer flexible circuits. Each process needs specialized adhesion promoters, photo-imagable dielectrics, and low-temperature solderable finishes that can cure rapidly without warping delicate substrates. Suppliers tuned to these process windows gain a competitive edge, particularly as factories ramp capacity for automotive displays, e-textiles, and disposable IoT sensors.

  Sustainability considerations reinforce the shift. Flexible circuits use fewer raw materials and support smaller, lighter devices, reducing e-waste and transport emissions. Material developers are responding with halogen-free flame-retardant chemistries, bio-based polyimides, and recyclable copper-polymer composites to align with circular-economy goals. As market leaders race to embed intelligence into every surface—from smart packaging to foldable laptops—the expansion of flexible and miniaturized circuits will remain a powerful driver, sustaining robust demand for high-performance circuit materials worldwide.

Restraints

• Complex manufacturing processes
• Volatility in raw material pricing (e.g., copper, rare metals)

• Supply chain disruptions and capacity constraints - Supply chain disruptions and capacity constraints have become a major brake on the circuit materials market, inflating costs and prolonging lead times for critical inputs such as copper foils, polyimide films, epoxy resins, and high-frequency glass fabrics. Pandemic-driven port closures, semiconductor demand spikes, and geopolitical trade tensions have tightened raw-material availability just as electronics manufacturers race to produce more flexible and miniaturized circuits. When even one supplier of ultra-thin copper or low-DK resin goes offline, downstream board shops face production stoppages, forcing OEMs to postpone new product launches and absorb costly schedule penalties.

  Capacity limitations compound the problem. Copper-foil rolling mills, polyimide casting lines, and glass-fabric weaving looms operate near full utilization, leaving little slack to absorb sudden demand surges from 5G smartphones, EV power modules, or AI servers. Expanding these facilities requires heavy capital investment, stringent process control, and months of equipment lead time. Until new lines come onstream, buyers must contend with allocation systems, spot-market premiums, and “take-or-pay” contracts that erode margins and shift bargaining power to a handful of upstream producers.

  Logistics bottlenecks further exacerbate volatility. Ocean freight rates remain elevated, container shortages persist, and periodic disruptions—from canal blockages to extreme-weather events—delay shipments of resin drums and rolled foil reels. Even when materials arrive, regional lockdowns and labor shortages slow customs clearance and last-mile transport, stranding inventory in warehouses rather than on production floors. As a result, PCB fabricators and EMS providers are stocking greater safety inventories, tying up working capital and increasing overall system inefficiency.

  Manufacturers are diversifying suppliers and investing in on-site copper plating, resin synthesis, and closed-loop recycling, these strategies take time. Until the supply chain achieves broader geographic balance and additional capacity is built, supply disruptions and capacity constraints will remain a prominent restraint, limiting the speed at which the circuit materials market can scale to meet soaring demand for next-generation electronics.

Opportunities

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

• Flexible Electronics Development - The accelerating push toward flexible electronics development is opening one of the most lucrative opportunities in the circuit materials market. Foldable phones, roll-up OLED TVs, smart labels, and e-textiles all require substrates and conductors that can bend, twist, or stretch thousands of times without cracking. This shift is driving unprecedented demand for ultra-thin polyimide and PEN films, rolled-annealed copper foils, liquid-crystal polymers (LCP), and stretchable silver or carbon inks. Materials suppliers capable of delivering consistent mechanical durability alongside high signal integrity are rapidly becoming strategic partners to device OEMs.

  Healthcare and fitness wearables further amplify the growth curve. Flexible printed circuits embedded in skin-adhering biosensors, drug-delivery patches, and implantable stimulators must navigate moisture, body heat, and repeated flexion. To meet these specifications, formulators are introducing biocompatible dielectric coatings, low-modulus encapsulants, and breathable conductive meshes that maintain performance while conforming to dynamic anatomy. Each innovation expands the application scope of circuit materials beyond traditional consumer gadgets into high-margin medical markets.

  Manufacturing technology keeps pace with this momentum. Roll-to-roll additive printing, laser direct structuring, and hybrid pick-and-place lines enable high-volume production of complex multilayer flexible circuits at competitive cost. These processes depend on specialized adhesion promoters, low-temperature solderable finishes, and photo-imageable dielectric pastes that cure rapidly without warping substrate films. Suppliers that tailor chemistries for these fast-curing, low-stress windows capture recurring revenue as fabs scale up capacity for next-generation automotive dashboards, industrial sensor networks, and IoT smart packaging.

  Sustainability adds a final tailwind. Flexible electronics reduce overall device mass, lower shipping emissions, and support disassembly-ready designs. Material innovators are responding with halogen-free flame-retardants, bio-based polyimides, and recyclable metal-polymer composites that align with circular-economy goals. As brands race to embed intelligence into everyday objects—from foldable laptops to disposable environmental monitors—the expanding field of flexible electronics will continue to propel demand for advanced circuit materials worldwide.

Key players in 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
• Market Share Analysis
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis