New Product Developments and Partnerships are the Key Strategies Adopted by Leading Players in the Circuit Materials Market
Circuit materials are key materials used in manufacturing a printed circuit board. The market is further classified into substrate, conducting material, outer layer, and applications. These materials have their respective significance when used in the manufacturing of printed circuit board. For instance, a substrate is used to provide non-conductive, rigid base for a printed circuit board, a conducting material is used to impart conductivity on the printed circuit board, and an outer layer is used to protect the board from environmental deterioration. The circuit materials market is projected to reach USD 36.85 billion by 2023 at a CAGR of 3.8% between 2018 and 2023.
Key players operating in the circuit materials market focus on adopting inorganic and organic growth strategies to strengthen their market positions. These companies have adopted partnerships and new product developments as key growth strategies between 2015 and 2018 to strengthen their foothold in the circuit materials market.
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Major players operating in the circuit materials market include Shengyi Technology (China), Kingboard Laminates (Hong Kong), ITEQ Corporation (Taiwan), DowDuPont (US), Jinan Guoji Technology (China), Eternal Materials (Taiwan), Rogers Corporation (US), Taiflex Scientific (Taiwan), Isola Group (US), and Nikkan Industries (Japan). These companies have a strong presence in the circuit materials market and are undertaking efforts to improve their business strategies and product portfolios.
Rogers Corporation (US) is a key player in the market, and it manufactures and markets protective circuit material products such as copper clad laminates and copper foils. The company has an established brand image in the circuit materials market due to offering products with technological superiority. The company has a good presence in APAC, North America, and Europe. It achieves customer satisfaction ensuring operational excellence by focusing on new product developments. In March 2018, the company developed a new product which is used as a polyimide substrate. This new product development has helped the company to enhance its business performance.
Isola Group (US), one of the leading manufacturers of circuit materials, focuses on the adoption of key growth strategies, such as partnerships and new product developments, to enhance its presence in the market. In May 2015, the company developed a new product named IS350MD. The new product development has helped the company to enhance its business performance by offering products for smartphones and tablets. In December 2016, Isola Group (US) entered into a partnership with the Tech Knowledge (Israel) to cater to the needs of various industries, such as printed circuit board fabrication, electronics, metal, optics, solar, medical, and metal finishing in Israel. With the help of this partnership, Isola Group has enhanced its business reach.
Related Reports:
Circuit Materials Market by Material Class (Substrate, Conducting Material, Outer Layer), Substrate (Fiberglass Epoxy, Paper-Phenolic), Conducting Material (Copper), Outer Layer (LIPSM, Dry Film Photoimageable), Application, Region - Global Forecast 2023
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