The electronic materials and chemicals market is predicted to account for US$ 121.7 billion in 2032, up from US$ 71.6 Billion in 2022, advancing at a CAGR of 5.4% during the forecast period (2022-2032).
The demand for electronic materials and chemicals equipment is propelling the market forward. These electronic materials and chemicals are used to improve the performance of semiconductors by etching, cleaning, and servicing them.
Furthermore, technical advancements in the electronics industry are likely to boost electronic materials and chemicals market statistics. The rising use of wireless computing devices is one of the primary factors driving the electronic materials and chemicals market share.
Moreover, due to the increasing use of these wafers to diagnose process conditions and evaluate the status of equipment used in the semiconductor manufacturing process, the use of electronic materials and chemicals devices is likely to rise.
Compliance with these regulations has resulted in a high operating cost. Regulations accumulate in the supply chain, resulting in high costs for raw materials, manufacture, packaging, distribution, and final product disposal, hampering the electronic materials and chemicals market growth.
Electronic materials and chemicals market analysis shows the key technological advances aimed at improving the product's performance attributes, on the other hand, are likely to give new entrants a competitive edge. Over the projected period, rising demand for silicon from other end-user sectors, such as solar photovoltaic, is expected to have an impact on raw material supply, which leads to electronic materials and chemicals market growth.
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Key Takeaways:
● The electronic materials and chemicals market is predicted to develop at a CAGR of 5.4%, with a market share of US$ 121.7 Billion through 2032.
● In the United States, the electronic materials and chemicals market is estimated to reach US$ 42.5 billion, with a CAGR of 5% through 2032.
● The electronic materials and chemicals market in China is expected to have a prodigious CAGR of 4.6% through 2032, with the expected market share of US$ 8.2 Billion.
● The electronic materials and chemicals market in Japan is expected to reach US$ 7 Billion, with a steady CAGR of 4.7% through 2032.
● The electronic materials and chemicals market in the UK is expected to have a market share of US$ 5.3 Billion, with a CAGR of 4.4% through 2032.
● The solid segment of the electronic materials and chemicals market, by product category, is expected to grow at a CAGR of 5.3% through 2032.
● The silicon wafers segment of the electronic materials and chemicals market, based on application, is expected to grow at an annual rate of 5% through 2032.
Competitive Landscape:
Air Products & Chemicals Inc., Bayer Ag, Albemarle Corporation, Ashland Global Specialty Chemicals Inc., BASF Electronic Chemicals are some major electronic materials and chemicals market players in the electronic materials and chemicals market.
The leading companies in the growth of the electronic materials and chemicals market are likely to focus on production and generate revenue to increase the electronic materials and chemicals market share.
Recent Developments:
Product launches, Mergers & Collaborations
● Air Products and Chemicals (US) has announced the opening of a second liquid hydrogen plant in California. This plant will assist the company in meeting demand for hydrogen fuel cell vehicles (FCV). In China, the company has invested in six industrial gas facilities, as well as a pipeline network. Nitrogen, oxygen, and other bulk gases will be supplied by these plants. The expansion will help China's burgeoning electronics manufacturing industry.
● Cabot Microelectronics (US) purchased KMG Chemicals (US). This acquisition will add to Cabot's existing portfolio, expanding customer touch points with leading semiconductor makers.
Key Segments
By Product:
Liquid
Gaseous
Solid
By Application:
Silicon Wafers
PCB Laminates
Specialty Gases
Wet Chemicals and Solvents
Photoresist
Others
By End Uses:
Semiconductors and Integrated Circuits
Printed Circuit Boards
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa