Market Overview:
Electronic chemicals are necessary for production of semiconductors, printed circuit boards, memory discs, integrated circuits and other electronic components. They are essential for applications including etching, cleaning and deposition during manufacturing of electronics equipments.
Market key trends:
One of the major trends in the electronic chemicals market is the growing demand for solvents and specialty gases. Solvents such as acetone and isopropyl alcohol are increasingly used in cleaning and degreasing applications during wafer fabrication. Specialty gases such as nitrogen, argon and hydrogen are important during etching and deposition steps. Growth in semiconductor manufacturing along with increasingminiaturization is expected to drive the demand for solvents and specialty gases over the forecast period.
The global Electronic Chemicals Market Share is estimated to be valued at US$ 67.92 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The electronic chemicals market is dominated by semiconductor and integrated circuit sub segments which hold around 50% of the total market share. This is primarily due to increasing demand for digital electronics and increasing adoption of electronic devices in various industry verticals such as consumer electronics, automotive and healthcare which utilizes semiconductor and integrated circuits on large scale.
Key Takeaways
The global electronic chemicals market is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing demand for consumer electronics and growing adoption of electronics in automotive industry.
Regional analysis
Asia Pacific dominates the global electronic chemicals market with over 40% share due to presence of key manufacturing hubs in countries like China, Taiwan, South Korea and Japan. The region is expected to maintain its dominance during forecast period as well owing to increasing electronics manufacturing and consumption in the region.
Key players
Key players operating in the electronic chemicals market are BASF SE, Air Products and Chemicals Inc., The Dow Chemical Company, Merck KGaA , SUMCO Corporation, JSR Corporation, Shin-Etsu Chemical Co., Ltd., Cabot, Microelectronics Corporation, Tokyo Ohka Kogyo Co., Ltd., Honeywell International Inc. The electronic chemicals market is highly competitive with top players accounting for over 50% of the global market share.
