A voltage variable material (“VVM”) including an insulative binder that is formulated to intrinsically adhere to conductive and non-conductive surfaces is provided. The binder and thus the VVM is self-curable and applicable in a spreadable form that dries before use. The binder eliminates the need to place the VVM in a separate device or to provide separate printed circuit board pads on which to electrically connect the VVM. The binder and thus the VVM can be directly applied to many different types of substrates, such as a rigid FR-4 laminate, a polyimide, a polymer or a multilayer PCB via a process such as screen or stencil printing. In one embodiment, the VVM includes two types of conductive particles, one with a core and one without a core. The VVM can also have core-shell type semiconductive particles.