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Electrical And Electronics Materials Global Market 2024 - Top Regions, Latest Technology, Investment Opportunities, Future Trends And Outlook 2033
Electrical And Electronics Materials Global Market
According to The Business Research Company's, 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 in the historic period can be attributed to miniaturization demand, semiconductor evolution, energy efficiency requirements, advancements in printed circuit boards (pcbs), 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 growth in the forecast period can be attributed to shift towards advanced semiconductor materials, demand for flexible electronics, expansion of iot and wearable devices, focus on electric vehicles (evs), demand for sustainable materials.. Major trends in the forecast period include 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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Market Drivers and Trends:
The growth in the production of electric vehicles (EVs) is expected to propel the growth of the electrical and electronic materials market going forward. An electric vehicle refers to a vehicle with an electric motor that can take power from a battery and be charged from an external source. The various electrical and electronic materials are considered to be the primary component in electric vehicles, thus, an increase in electric vehicles necessitates more electrical and electronic materials, which raises demand for the electrical and electronic materials market. For instance, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Furthermore, the sales of electric cars worldwide in 2021 have reached 6,600,000 units, up from 2,980,000 units. Therefore, the increasing demand for electric vehicles is driving the growth of the electrical and electronic materials market.
Technological advancement is the key trend gaining popularity in the electrical and electronic materials market. Major companies operating in the electrical and electronic materials market are focusing on developing new technologies to sustain their position in the market. For instance, in December 2022, DuPont, a US-based chemical company, launched CYCLOTENE DF6000 PID dry film material. It is a brand-new dry film material that is photo-imageable (PID) and suitable for use in sophisticated semiconductor packaging. The wide photolithography latitude of the CYCLOTENE DF6000 PID dry film material makes it appropriate for extremely complicated circuit layouts. In order to satisfy the expanding demands of high-frequency data transmission applications, it offers signal integrity over a wide frequency range, including 5G frequencies, and has high thermal stability.
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Major Key Players of the Market:
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.
Electrical And Electronics Materials Market 2024 Key Insights:
• The electrical and electronics materials market will grow to $4.28 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%.
• Electric Vehicle Surge Fuels Growth In The Electrical And Electronic Materials Market
• Technological Advancements Propel Innovation In The Electrical And Electronic Materials Market
• Asia-Pacific was the largest region in the electrical and electronic materials market in 2023
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