Electronic Chemicals and Materials Market

Electronic Chemicals and Materials Market Size (2023-2028)

The electronic chemicals and materials market is determined to develop from $ 71.4 billion in 2022 to $ 90.2 billion in 2028, at a compound annual growth rate (CAGR) of 10.2% over the forecast period from 2023-2028

Electronic chemicals are employed for the cleaning and drying of electronic devices. They are employed to get rid of tiny impurities from semiconductor wafers. Thereby, electronic devices need high-purity electronic chemicals to enhance performance. Increased demand for electronic products is expected to stimulate demand for electronic chemicals. Chemicals and electronics are used as major components in a variety of electronic applications.

A rising call from the worldwide microelectronics and chip-making businesses is predicted to augment the market development. The growing demand for semiconductors and integrated circuits for the manufacture of computers and other consumer devices is expected to be a key factor in the growth of the industry. Changes in consumer lifestyles, along with increased disposable income for consumers, are expected to stimulate demand for household appliances, thereby stimulating market growth.

Electronic Chemicals and Materials Market Drivers & Restraints:

Business creation and advancement will place firm calls on electronic devices like computers, and smartphones that depend very much on chips and electronic circuits. Furthermore, the growth of the computer hardware sector also implies an increased demand for electronic and chemical materials. The growing preference for connected devices and smart technologies will depend on IoT-powered devices for better and more secure functionality, which will significantly drive the growth of the global electronic chemicals and electronic products market in the coming years.

Cryosurgery and cryotherapy are experiencing significant growth requiring cryogenic chemicals and electronic cryoprobes for various treatment procedures. Warehouses and air conditioning electronics are also depending on industrial chemicals, driving the call for electronic chemicals. Competition is expected to intensify among industry participants due to expanding product portfolios and technological advancements. High investment costs for new manufacturing and R&D facilities should limit the entry of new players. However, key technological innovations related to the optimization of product performance characteristics should give new entrants a competitive advantage. Increasing demand for silicon from other end-user industries, including solar PV, is expected to affect the availability of raw materials during the forecast period.

ELECTRONIC CHEMICALS AND MATERIALS MARKET REPORT COVERAGE:

Electronic chemicals and materials Market Segmentation as per the research report until 2028.

Electronic Chemicals and Materials Market - By Type:

• Specialty Gases

• CMP Slurries

• Conductive Polymers

• Photoresist Chemicals

• Low K Dielectrics

• Wet Chemicals

• Silicon Wafers

• PCB Laminates

The silicon wafer is the biggest type in the electronic chemicals and materials industry. Silicon wafers are fine semiconductor wafer that is made out of crystalline silicon and is a significant part of the making of integrated circuits and acts as a substrate for microelectronic equipment.

Electronic Chemicals and Materials Market - By Application:

• Semiconductors

• Consumer Electronics

• PCB

• Others

The semiconductor in the application sector is predicted to show the most important application of electronic chemicals and materials throughout the foreseen period. Consumer electronics is another prominent application segment that is estimated to register a considerable growth rate in the foreseen years.

Electronic Chemicals and Materials Market – By Region:

The Electronic Chemicals and Materials Report includes the segmentation of Regions with their respective Countries.

• North America Electronic chemicals and materials Industry includes the U.S, and Canada.

• Europe Electronic chemicals and materials Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific Electronic chemicals and materials Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America Electronic chemicals and materials Industry includes Brazil, Mexico, Argentina, Chile & the Rest of LATAM.

• The Middle East & Africa Electronic chemicals and materials Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

Asia-Pacific is predicted to lead the worldwide electronic chemicals and materials industry, accounting for a high share owing to high production and call for electronic goods. Economic advancement and escalation in disposable income are augmenting the expansion of the electronics industry which is predicted to drive the expansion of the regional industry. The North American market is projected to register healthy growth owing to the high demand for smart devices and technological advancements. The region is impacted by a change in customer preference toward fitness & wellness equipment and smartwatches. For example, the United States produced electronic goods worth USD 411.09 billion, the second-largest market for electronic products, which is expected to favor the growth of the regional market. The nations in the Asia-Pacific and Africa are touted to record robust growth rates in the following years because of the increase in population that has led to a surge in demand for consumer electronics and is one of the major application areas for electronic chemicals and materials.

Impact of COVID-19 on Electronic Chemicals and Materials Market:

The high spread of COVID-19 has disturbed the lives of people, livelihoods, communities, and businesses all over the globe. Firms all around the globe, involving the Forum and its partners, are collaborating and innovating to reduce the effect on public health and to restrict disturbances to economies and supply chains. Chemicals and energy firm Sasol which is a World Economic Forum Partner has boosted up manufacturing of hand sanitizer and will divide production prices with AngloGold Ashanti which is also a World Economic Forum partner. The worldwide gold mining firm will also offer uniquely built bulk-storage tanks for the product while the logistics firm Imperial Group ensures the sanitizer tanks are transported in a safe manner to the healthcare providers.

Recent Developments:

In a transaction of cash close to $300m, Air Products has agreed to sign a definitive agreement to gain over the Electronic Chemicals business of Ashland Specialty Chemical Firm, a division of Ashland Inc., according to the regulatory approvals, which is considered to be accretive to earnings in the first fiscal year.

The dominating players in the global electronic chemicals and materials market include

• Linde plc (Ireland)

• Air Products and Chemicals (US)

• DowDuPont (US)

• Cabot Microelectronics (US)

• BASF AG (Germany)

• Hitachi Chemical (Japan)

• Air Liquide (France)

• Solvay AG (Belgium)

• Shin-Etsu (Japan)

• Covestro (France)

• Songwon (South Korea)