Global Electronic Chemicals and Materials Market size was valued at USD 51.67 billion in and is poised to grow from USD 57.88 billion in to USD 101.31 billion by , growing at a CAGR of 7.24% in the forecast period (-).
Market expansion is anticipated to be fueled by rising product demand for the production of semiconductors, flat panel displays, and photolithographic printing. The consumer electronics sector is anticipated to be primarily driven by falling equipment costs and rising living standards around the globe, both of which are anticipated to positively affect industry growth. The need for semiconductors is predicted to increase as more mobile phones, electronic chips, and integrated circuits are produced. In the worldwide semiconductor market, the United States dominates. In , domestic semiconductor companies sold more than 50% of all semiconductors sold globally. Since the bulk of semiconductors are produced in the United States, the region is anticipated to experience significant growth in electronic chemicals and materials market during the projected period.
The development of product ranges and technical advancements are projected to increase competitiveness among industry participants. We believe that the entry of new companies will be hampered by high capital expenses for new industrial setup and R&D. However, significant technological advancements aimed at enhancing the product's performance qualities are likely to give new entrants a competitive advantage. Over the projected period, rising demand for silicon from other end-user sectors, such as solar PV, is anticipated to have an impact on raw material supply. Additionally, over the anticipated time, silica prices are expected to fluctuate due to escalating trade tensions between China, the United States, and the European Union. Wet chemicals, photoresists, gases, acids, and solvents are examples of high purity chemicals that are used in electronic materials and chemicals. Other types of electronic materials and chemicals include laminates and wafers. Depending on the needs of the application, they may be solid, liquid, or gaseous. One of the main factors driving the market demand for these electronic chemicals and materials is the growing demand for sophisticated electronic devices with a variety of capabilities. These materials also have high resistance and effective heat dissipation properties.
US Electronic Chemicals And Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 51.67 billion
Largest Segment
Semiconductors
Fastest Growth
Semiconductors
Growth Rate
7.24% CAGR
Global Electronic Chemicals And Materials Market, -($ Bn)
Country Share for North America Region- (%)
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Global Electronic Chemicals and Materials Market is segmented by Type, Application and region. Based on Type, the market is segmented into Specialty Gases, CMP Slurries, Conductive Polymers, Photoresist Chemicals, Low K Dielectrics, Wet Chemicals, Silicon Wafers, PCB Laminates. Based on application, the market is segmented into Semiconductors (Integrated Circuits, Printed Circuit Boards), Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Electronic Chemicals And Materials Market Analysis by Product Type
The speciality gases, CMP slurries, photoresist chemicals, conductive polymers, low k dielectrics, wet chemicals, silicon wafers, and PCB laminates market segments are based on type of product.
The silicon wafers segment had the biggest Electronic Chemicals And Materials Market share in , and it is anticipated that it will continue to hold this position throughout the forecast period. Integrated circuits are made using silicon wafers, which also act as a substrate for microelectronic devices. One of the most important uses for silicon wafers is in the manufacture of integrated circuits, which are the building blocks of computers, smartphones, and all other electronic devices. Solar cells and tyre pressure monitoring devices are further possibilities. The segment's growth is anticipated to be fueled by the rapidly rising demand for silicon from a variety of end-use sectors, such as solar photovoltaic.
Electronic Chemicals And Materials Market Analysis by Application
The electronic chemicals and materials market is divided into semiconductor and other categories based on the kind of application. The semiconductor industry held the largest Electronic Chemicals And Materials Market share in , and it is anticipated that it will continue to hold this position throughout the forecast period. A semiconductor is a solid chemical substance or element that, depending on the dopants added during the production process, can conduct electricity under specific conditions. Printed circuit boards and integrated circuits make up the second division of the semiconductor market.
To improve operation and ensure correct maintenance, semiconductors are cleaned, etched, polished, doped, and serviced using electronic chemicals and materials. Electronics sector technological developments have an impact on the semiconductor market. For instance, the Electronic Chemicals And Materials Market for this category is projected to be driven over the forecast period by emerging technologies like artificial intelligence or AI.
Global Electronic Chemicals And Materials Market By Application , (%)
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China, Japan, and India are the three biggest nations with the most profitable growth prospects. Asia-Pacific is predicted to be the fastest-growing Electronic Chemicals And Materials Market for electronic chemicals and materials over the projection period. The electronics sector has expanded significantly over the past 20 years on a global scale, creating a massive need for printed circuit boards. The greatest region for PCB production is Asia-Pacific. The expansion of the PCB industry, which in turn is propelling the market for electronic chemicals and materials in the region, is a result of developments in a number of industries, including telecommunications and IT, smart cards, electronic gaming, and consumer products.
A robust rise in the North American market is anticipated due to the high demand for smart devices and developments in technology. A movement in consumer choice toward fitness & wellness equipment and smartwatches has an impact on the region.
Due to the increase in applications across end use sectors like electrical and electronics and automotive, Europe is expected to have considerable growth in the market for electronic chemicals and materials.
Global Electronic Chemicals And Materials Market By Geography, -
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Electronic Chemicals And Materials Market Top Players Company Profiles
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According to our analysis, by application, The semiconductor industry held the largest Electronic Chemicals And Materials Market share in , and it is anticipated that it will continue to hold this position throughout the forecast period. Product type-wise, silicon wafers segment had the biggest Electronic Chemicals And Materials Market share in . Region-wise, the Asia Pacific region accounted highest market share with more than 44% of total market revenue.
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Updated on : April 23,
Electronic Chemicals And Materials Market size was valued at USD 59.1 billion in and is projected to reach USD 77.8 billion by , growing at 5.6% cagr from to . The electronic chemicals and materials market is poised for growth, fueled by escalating demand from the microelectronics and chip manufacturing sectors worldwide. These industries rely on a wide array of specialized chemicals and materials for various processes, including semiconductor fabrication and circuit assembly. With the proliferation of electronic devices across consumer, industrial, and automotive sectors, the need for advanced electronic materials continues to surge. This demand is further propelled by technological advancements driving smaller, faster, and more efficient electronic components. As companies strive to meet these evolving demands, the electronic chemicals and materials market is expected to expand significantly in the coming years, presenting lucrative opportunities for manufacturers and suppliers operating in this space.
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In today's rapidly evolving technological landscape, the growth of the semiconductor industry stands out as a key driving force. Semiconductors, often referred to as the "brains" of electronic devices, power everything from smartphones to advanced medical equipment. As this industry continues to expand, the demand for innovative manufacturing processes also intensifies.
The semiconductor industry is expected to grow in the medium-to-long term largely due to the continuous technological innovations amid an accelerating transition to a data-driven society backed by the spread of technologies such as the Internet of Things (IoT), artificial intelligence (AI), and 5G. With technological advancements through R&D, companies from different industries are embedding ICs into their products to make them efficient and smart. With the ongoing trend of lightweight, fast, dense, and miniature electronic devices, a surge in demand for compact and complex ICs has been observed. As per the data provided by the Semiconductor Industry Association, the global sales of semiconductors exhibited a substantial rise, climbing from USD 139.0 billion in to reach USD 557.4 billion by the year . This growth represents a compounded annual growth rate of approximately 6.67% over this period. Furthermore, the World Semiconductor Trade Statistics (WSTS) Fall Semiconductor Industry Forecast projects a minor decline in worldwide semiconductor industry sales, with an anticipated value of USD 555.6 billion for , followed by a subsequent increase to an estimated USD 602 billion in .
Consumer electronics, a significant end-user segment for semiconductors, illustrates the relentless demand for chips. Data from International Data Corporation (IDC) shows that smartphone shipments alone exceeded 1.4 billion units in . Given that each of these devices incorporates numerous semiconductor chips, the ripple effect on the demand for electronic chemicals and materials is profound, necessitating a wide array of high-purity materials for their production.
To meet the soaring demand, significant investments are being made in semiconductor manufacturing capacity. For instance, leading semiconductor companies and governments worldwide are investing billions of dollars in new fabs and expanding existing ones. These investments not only increase the demand for semiconductors but also for the electronic chemicals and materials essential for their production.
The semiconductor industry is a major driver of the electronic chemicals and materials market. As the backbone of all electronic devices, the demand for semiconductors is soaring, fueled by increasing needs for chips in consumer electronics, data centers, and automotive electronics. The industry's push towards smaller, faster, and more efficient chips also necessitates advanced materials and chemicals, driving the growth of this market.
The utilization of hazardous chemicals and materials in the production of electronic goods has necessitated companies to adhere to various regulations, directly impacting their profitability. Silica, commonly used in semiconductor manufacturing, poses significant health risks to workers, as highlighted by OSHA regulations in the US. Exposure to respirable crystalline silica can lead to debilitating conditions like silicosis and lung cancer. Additionally, there are numerous other potential hazards such as hydrogen chloride gas, flammable gases, and solvents, posing threats to both the environment and human health. The electronics industry relies on a diverse array of materials and chemicals in its production processes, subjecting it to a complex web of regulations. In Europe alone, there are nearly 500 laws governing the electronics sector, covering aspects like energy efficiency, product recycling, and the use of hazardous substances. Ensuring compliance with these regulations is paramount to avoid environmental disasters and health crises. However, this compliance comes at a considerable cost, affecting every stage of the supply chain from raw material procurement to product disposal. This imposes significant financial burdens on electronics manufacturers, impacting their operational costs significantly.
The emergence of cutting-edge technologies like IoT (Internet of Things) and AI (Artificial Intelligence) has given rise to a burgeoning product niche: intelligent home devices. As per insights from the Wall Street Journal, IoT is poised for rapid expansion, particularly within the industrial sector, with a projected growth rate of 65%. By , the overall market is anticipated to soar to USD 662 billion. The integration of AI-driven solutions has unlocked a plethora of opportunities for electronics manufacturers. Furthermore, the surging demand for electric vehicles has created fresh revenue avenues in the electronic wet chemicals market. Additionally, advancements in the digital display industry, exemplified by the introduction of premium LED and LCD television sets, are expected to drive the need for high-quality electronic chemicals for cleaning and etching purposes. Consequently, there exists ample opportunity for players in the electronic wet chemicals market to explore new revenue streams.
The demand for technologies such as memory chips and data centers is rapidly declining due to the emergence of cloud-based storage solutions. With the decreased need for physical data storage, there's a noticeable downturn in memory chip production. Smaller players in the electronic chemicals and materials industry are struggling to keep pace with these changes. Adapting to new technologies takes time, which could result in profit losses for these smaller companies. As mobile device usage continues to rise, the trend towards smaller integrated chips and semiconductors intensifies. This necessitates precise and high-quality chemicals for semiconductor manufacturing to achieve optimal outcomes. Introducing new products often requires significant investments in constructing new facilities or upgrading existing setups, leading to substantial capital expenses that ultimately factor into the product's overall cost.
Semiconductors are solid materials or compounds capable of conducting electricity under specific conditions, often influenced by dopants introduced during manufacturing. Technological progressions within the electronics sector significantly impact the semiconductor industry. Beyond the increasing need for circuit boards and memory chips, emerging technologies like artificial intelligence (AI) are poised to propel semiconductor demand. To ensure proper functionality, semiconductor devices necessitate maintenance, which entails utilizing specific electronic chemicals and materials for cleaning, etching, polishing, doping, and servicing.
Silicon wafers, thin slices of semiconductor material typically crafted from crystalline silicon, play a pivotal role in producing integrated circuits, the fundamental components of electronic devices like computers and smartphones. Beyond their core application in integrated circuits, silicon wafers find utility in diverse areas such as tire pressure monitoring systems and solar cell manufacturing. Anticipated expansion in the integrated circuits and solar markets is poised to drive growth in the silicon wafers market over the forecast period.
The Asia Pacific region stands at the forefront of the global market for printed circuit boards (PCBs), poised to command the largest market share throughout the forecast period. This dominance is underpinned by the region's dynamic electronics industry, which has experienced exponential growth over the past two decades. One of the primary drivers of this expansion is the relentless pace of technological advancement, particularly in telecommunications and information technology (IT). As countries across Asia Pacific embrace digital transformation, there has been an insatiable demand for advanced PCBs to power the infrastructure of communication networks, data centers, and smart devices. Moreover, the proliferation of smart cards, electronic gaming platforms, and consumer electronics has further fueled the need for sophisticated PCB solutions. From digital cameras and mobile phones to personal computers, the region's appetite for cutting-edge electronic devices has created a robust ecosystem for PCB manufacturers.
The symbiotic relationship between the electronics industry and PCB production is evident in Asia Pacific's role as a global manufacturing hub. With an extensive network of suppliers, skilled labor force, and supportive regulatory environment, countries like China, Japan, South Korea, and Taiwan have emerged as key players in the PCB market. Furthermore, Asia Pacific's strategic position as a gateway to emerging markets, coupled with its robust supply chain infrastructure, has attracted significant investments from multinational corporations looking to capitalize on the region's growth potential. This influx of capital has catalyzed innovation and fostered collaborations across the entire value chain, driving the continuous evolution of PCB technologies.
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The Electronic chemicals and materials market comprises key manufacturers such as are Shin-Etsu Chemical Co., Ltd. (Japan) , Linde Plc (England) , Fujifilm Corporation (Japan), Resonac Holding Corporation (Japan), Air Liquide (Paris), Solvay (Belgium), BASF SE(Germany), Mitsui Chemicals America, Inc. (US), Merck KGaA (Germany), Covestro AG (Germany), SUMCO Corp. (Japan), Air Products & Chemicals, Inc. (US), and Songwon (South Korea). are the top manufacturers covered in the electronic chemicals and materials market. Expansions, mergers & acquisitions, new product launches and deals were some of the major strategies adopted by these key players to enhance their positions in the electronic chemicals and materials market. A major focus was given to the expansions and deals.
Report Metric
Details
Market size available for years
&#;
Base year considered
Forecast period
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Forecast units
Value (USD Million)
Segments covered
Type, Application, and Region
Geographies covered
North America, Asia Pacific, Europe, South America, and Middle East & Africa.
Companies covered
Shin-Etsu Chemical Co., Ltd. (Japan), Linde Plc (England), Fujifilm Corporation (Japan), Resonac Holding Corporation (Japan), Air Liquide (Paris), Solvay (Belgium), BASF SE(Germany), Mitsui Chemicals America, Inc. (US), Merck KGaA (Germany), Covestro AG (Germany), SUMCO Corp. (Japan), Air Products & Chemicals, Inc. (US), and Songwon (South Korea) are the top manufacturers covered in the electronic chemicals and materials market.
This research report categorizes the electronic chemicals and materials market based on material type, end-use industry, application, and region.
What are electronic chemicals and materials?
Electronic chemicals and materials refer to highly pure substances utilized in various processes such as manufacturing, cleaning, etching, polishing, doping, and servicing of semiconductors, integrated circuits (ICs), and printed circuit boards (PCBs).
What are the commonly used chemicals and materials in the electronics industry?
Specialty gases, CMP slurries, photoresists, conductive polymers, wet chemicals, acids, gases, solvents, and electronic materials like wafers and PCB laminates are the primary types of chemicals and materials utilized in the electronics industry.
What are the major applications of electronics and chemicals?
Electronic chemicals and materials play a critical role in the semiconductor industry, particularly in the manufacturing and maintenance of integrated circuits (ICs) and printed circuit boards (PCBs).
What are the major drivers of the electronic chemicals and materials market?
The major drivers of electronic chemicals and materials include advancements in semiconductor technology, demand for smaller and more powerful devices, and innovations in renewable energy systems.
What are the upcoming opportunities in the electronic chemicals and materials market globally?
Trends such as the growing utilization of PCBs in the telecommunications sector and the worldwide enhancement of IT infrastructure are opening up avenues for the utilization of electronic chemicals and materials. .
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