Low Dielectric Materials Market worth $2.4 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 23, 2022 /PRNewswire/ -- According to the new market research report "Low Dielectric Materials Market by Type, Material Type (Fluoropolymers, Modified Polyphenylene Ether, Polyimide, Cyclic Olefin Copolymer, Cyanate Ester, Liquid Crystal Polymer), Application and region - Global Forecast to 2027", published by MarketsandMarkets™, the global Low Dielectric Materials Market size is projected to grow from USD 1.7 billion in 2022 to reach USD 2.4 billion by 2027, at a CAGR of 6.7%. The major factors driving the nanocellulose market include growth in air traffic across the globe and increasing funding for development of 5G network from government & private sectors of developed as well as developing nations.
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Easy moldability and high resistance to heat leading to thermoset resins growing at the fastest rate
Based on type, the low dielectric materials market has been segmented into three types, namely, thermoplastic resins, thermoset resins, and ceramics. While thermoplastics hold the largest share in the market owing to low cost and high strength, thermoset resins are gaining immense traction owing to their superlative resistance to heat. These materials do not change shape with application of heat and offer excellent dielectric properties such as low dielectric constant and high data transmission capabilities, resulting in the segment growing at the fastest rate in the low dielectric materials market.
High-performance cyanate ester to grow at the fastest rate during the forecast period
Based on material type, the low dielectric materials market has been segmented into fluoropolymers, modified polyphenylene ether, polyimide, cyclic olefin copolymer, cyanate ester, liquid crystal polymer and others. High performance cyanate esters are largely employed in electronic packaging encapsulants and PCBs due to their attractive thermal and electrical properties. As the demand for these prodcts is growing, the demand for cyanate ester is projected to follow suit and grow at the fastest rate in this market.
PCB application accounted for the largest share in the overall nanocellulose market in 2021.
The low dielectric materials market has been segmented based on application into six categories, namely, PCBs, antenna, microelectronics, wire & cable, radome, and others. Amongst these applications, the PCB application accounted for the largest market share in 2021. PCBs play a critical role in working of modern day electronics and smart components, which has propelled their demand in the past few years. With the development of downsized electronic solutions, PCBs are also required to be smaller in size, which has expanded the demand for low dielectric materials that ensure low loss of signal while avoiding crosstalk.
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Focus on development of 5G communication system and aerospace network in Asia Pacific driving the low dielectric materials market
Asia Pacific is not only the largest market for low dielectric materials, but also the fastest growing region in the market. Countries such as China, Japan, Taiwan and South Korea have been the hub for manufacturing of electronics, and has lead the demand for low dielectric materials. The demand has been further accentuated with the focus of countries in Asia Pacific to develop the 5G communication network. Also, the increase in air travel has further improved the demand for components such as antenna and radome, ultimately providing a push to the demand for low dielectric materials.
The major players in the low dielectric materials market include Huntsman Corporation (U.S.), SABIC (Saudi Arabia), Asahi Kasei (Japan), Zeon Corporation (Japan), Chemours Company LLC (U.S.), DIC Corporation (Japan), Arkema (France), Mitsubishi Corporation (Japan), Showa Denko (Japan), Dow (U.S.), Shin-Etsu Chemical Co. Ltd. (Japan), Olin Corporation (U.S.), Celanese Corporation (U.S.), and Solvay (Belgium).
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