5G Substrate Materials Market to Expand at a CAGR of 24.1% Between 2021 and 2031

FREMONT, Calif. - Nov. 2, 2021 - PRLog -- 5G is the new communication backbone that will enable revolutionary applications in industrial, medical, automotive, and defense markets. 5G comes with enormous benefits such as improvement in speed (ten times that of 4G), latency (at least ten times lower than 4G), and density (supporting approximately one million IoT devices per square kilometer). The 5G technology will enhance the overall security, reliability, quality of service, and efficiency of the devices.

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5G substrate materials are categorized into three types: organic laminates, ceramics, and glass. Organic laminates are further classified into PFTE, PI, LCP, and others. Among these, PTFE is expected to attain the highest CAGR during the forecast period of 2020 to 2025. This is due to its excellent properties making it a preferred choice for 5G substrate applications. Some of the key players working on PTFE are DuPont, Rogers Corporation, and Daikin Industries, Ltd.

Smartphone antennas application segment not only accounts for largest share of the market, it is also expected to be fastest growing application segment for 5G substrate materials industry. This is due to the growth of the smartphone industry year-on-year and giant companies such as Samsung Electronics and Huawei Technologies coming up with new enhanced smartphones with 5G adaptability and software updates.

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The demand for 5G substrate materials varies according to various geographical regions, depending on the end-use application segment demand. The 5G substrate material market holds a prominent share in different regions of North America, China, Asia-Pacific & Japan, Europe, and the U.K. China is expected to account for the highest CAGR during the forecast period. The 5G substrate materials market's competitive landscape consists of different strategies undertaken by major players across the 5G industry to gain traction and market share presence. Some strategies adopted by 5G substrate materials manufacturers are new product launches, business expansions, partnerships, and collaborations.