Global Electronic Chemicals And Materials Market

Electronic Chemicals And Materials Market Size, Share, Growth Analysis, By Type(Specialty Gases, CMP Slurries, Conductive Polymers), By Application(Computers, Mobile Phones, Consumer Electronics, and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2339 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 64 | Figures: 75

Electronic Chemicals And Materials Market Insights

Electronic Chemicals And Materials Market size was valued at USD 53.98 billion in 2019 and is poised to grow from USD 57.88 billion in 2023 to USD 101.31 billion by 2031, growing at a CAGR of 7.24% in the forecast period (2024-2031).

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.

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Electronic Chemicals And Materials Market size was valued at USD 53.98 billion in 2019 and is poised to grow from USD 57.88 billion in 2023 to USD 101.31 billion by 2031, growing at a CAGR of 7.24% in the forecast period (2024-2031).

Electronic Chemicals And Materials Market Top Players Company Profiles  'Linde plc (Ireland)', 'Air Products and Chemicals, Inc.', 'BASF SE', 'Cabot Microelectronics Corporation', 'Dow Chemical Company', 'Fujifilm Corporation', 'Honeywell International Inc.', 'Huntsman Corporation', 'Kanto Chemical Co., Inc.', 'Merck KGaA', 'Mitsubishi Chemical Corporation', 'Momentive Performance Materials Inc.', 'Nitto Denko Corporation', 'Samsung SDI Co., Ltd.', 'Shin-Etsu Chemical Co., Ltd.', 'Solvay SA', 'Sumitomo Chemical Co., Ltd.', 'Tosoh Corporation', 'Wacker Chemie AG', 'Zeon Corporation.'

The improved IT infrastructure, upcoming technologies like AI and IoT, the increase in PCB usage in the telecommunications sector, and the rise in demand for quick diagnostic systems due to the COVID-19 pandemic outbreak will all provide additional growth opportunities for the electronic chemicals and materials market.

IoT (Internet of Things) and AI (Artificial Intelligence), two emerging technologies, have given rise to a brand-new product category called intelligent home appliances. The Wall Street Journal reports that IoT is anticipated to grow at an explosive rate, especially in the industrial sector, where a surge of more than 60% is anticipated.

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 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.

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Global Electronic Chemicals And Materials Market

Report ID: SQMIG15E2339

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