USD 53.98 billion
Report ID: SQMIG15E2339 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: 67 | Figures: 75
Electronic Chemicals And Materials Market size was valued at USD 53.98 billion in 2021 and is poised to grow from USD 57.88 billion in 2022 to USD 101.31 billion by 2030, growing at a CAGR of 7.24% in the forecast period (2023-2030).
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 2014, 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 53.98 billion
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The Global Electronic Chemicals And Materials Market is segmented based on Product Type, Application, and Region. Based on Product Type it is categorized into Specialty Gases, CMP Slurries, Photoresist Chemicals, Conductive Polymers, Low K Dielectrics, Wet Chemicals, Silicon Wafers, PCB Laminates. Based on Application it is bifurcated into: Semiconductors, Others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
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 2021, 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 2021, 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.
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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.
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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 2021, 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 2021. Region-wise, the Asia Pacific region accounted highest market share with more than 44% of total market revenue.
|Market size value in 2021
|USD 53.98 billion
|Market size value in 2030
|USD 101.31 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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For the Global Electronic Chemicals And Materials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Electronic Chemicals And Materials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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