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Electronic Chemicals & Materials Market

Electronic Chemicals & Materials Market Analysis, By Product Type (Silicon Wafer, Photoresist, Specialty Glass, Wet Processing Chemicals, PCB Laminates, Other Types), By Application (Semiconductors & ICs, PCB), and Region - Global Market Insights 2022 to 2032

Analysis of Electronic Chemicals & Materials Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Electronic Chemicals & Materials Market Outlook (2022-2032)

The global sales of the Electronic Chemicals & Materials Market in 2021 was held at US$ 61.6 Billion. With a CAGR of 5.8%, the projected market growth during 2022 - 2032 is expected to be slightly higher than the historical growth.

Silicon Wafer is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 6.6% during 2022 – 2032.

Report Attributes

Details

Global Market CAGR (2022 – 2032)

5.8%

Global Market Size (2022)

US$ 64.2 Billion

Global Market Size (2032)

US$ 112.5 Billion

U.S. Market CAGR (2022 – 2032)

6.4%

Key Companies Covered

  • BASF Electronic Chemicals
  • Air Products & Chemicals Inc.
  • Albemarle Corporation
  • Bayer AG
  • Honeywell International Inc.
  • Linde plc
  • Showa Denko Materials Co., Ltd.
  • DuPont de Nemours, Inc.
  • Shin-Etsu Chemical Co. Ltd.
  • Cabot Microelectronics Corporation
  • Solvay S.A.
  • Covestro AG
  • Global Wafers

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Revenue of Electronic Chemicals & Materials Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Global Electronic Chemicals & Materials Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Market increased at around 4.6% CAGR.

The key revenue drivers which affected the Electronic Chemicals & Materials Market are an increase in demand for chips and semiconductors and the surge in demand for the Internet of Things. The key sectors that use Internet of Things goods and services include healthcare, hotels, transportation, infrastructure, education, and social services.

Due to the accessibility and global connectivity provided by smart devices that are frequently connected to cloud services, more individuals are making use of this technology. Thus, due to the increase in demand for such smart devices the electronic chemicals and materials market is also expected to grow.

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Which Factors are Propelling Electronic Chemicals & Materials Demand?

The semiconductor industry heavily relies on electronic chemicals and materials for the production and maintenance of printed circuit boards and integrated circuits. The market is driven by the electronics industry, which uses a variety of chemicals and materials for processes like polishing, etching, doping, cleaning, and servicing semiconductors. These processes have a significant impact on the industry's technical advancement.

Since they offer desirable features like smaller sizes and lower power requirements, nano-devices are well-liked all around the world. The market for NEMS and MEMS devices is changing as a result of the increased use of nanotechnology. The production of personal computers, tablets, and cell phones has soared, as has semiconductor usage.

More than 60% of the world's population, was online in 2020. There were over 346 Mn new internet users in 2020. Therefore, it is anticipated that as internet usage grows, the market for laptops and allied products will expand. Consequently, it influences the demand for such electronic gadgets which also increases the demand for the electronic chemicals and materials used in these electronic gadgets.

Printed Circuit Board Laminate is a critical component of electronic circuitry that ensures the performance and integrity of a variety of electronics, including consumer, computer, and communication electronics. The preference for multi-layered, tiny, and halogen-free printed circuit boards has also raised the demand for electronic chemicals and materials.

Wet processing chemicals are widely used in the production of LED lights, semiconductors, LCD screens, and integrated circuits. According to a study by the Semiconductor Industry Association, demand for semiconductors has increased by 36.9% in the United States. The expanding use of these devices worldwide has raised the need for electronic chemicals and materials, which has also boosted the use of wet processing chemicals.

Photoresist chemicals are widely used to imprint a pattern on semiconductor material using methods like photoengraving and photolithography. The market for electronic chemicals is also expanding as a result of the growing demand for LED displays and the reduction in the size of electronic goods.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Regional Analysis

Which Region is projected to Offer the Largest Opportunity for Electronic Chemicals & Materials Indutry?

During the projection period, Asia Pacific is projected to be the leading market for Electronic Chemicals & Materials. China is one of the world's top producers of semiconductor products. It produces 24% of the semiconductors produced globally, followed by Taiwan at 21% and South Korea at 19%, according to the Semiconductor Industry Association's most recent study.

Besides, the "Make in India" initiative and other Indian incentives, such as increasing tariff differential benefits for domestic firms, have continued to support the country's mobile phone production. Because of the increased demand for semiconductors and mobile phones, the need for electronic chemicals and materials is increasing in the region.

Country-wise Analysis

U.S. Electronic Chemicals & Materials Industry Analysis

In 2021, the CHIPS for America Act came into effect which permits financial investments in indigenous chip manufacturing efforts that promote the production of Chips in the United States and have a significant positive impact on the demand for Electronic Chemicals & Materials. In terms of chip design and semiconductor Research & Development, the American semiconductor sector leads the world.

Access to highly qualified engineering talent and a thriving innovation ecosystem, especially from top universities, are crucial success factors for U.S. businesses, including fabless firms and integrated device manufacturers, which together account for almost half of global semiconductor sales. Although American businesses excel at R&D-intensive activities.

U.K. Electronic Chemicals & Materials Industry Analysis

The electronic chemicals and materials market in the U.K. is expected to reach a valuation of US$ 5.4 Bn by 2032. With a projected growth of 6.2% during the forecast period, the market is expected to register an absolute dollar opportunity of US$ 2.4 Bn.

Japan Electronic Chemicals & Materials Market Analysis

In Japan, the electronic chemicals and materials market is projected to swell at a CAGR of 7.1% during 2022 – 2032 to gross nearly US$ 6 Bn by 2032. Between 2022 and 2032, the market is likely to gross an absolute dollar opportunity of around US$ 3 Bn

South Korea Electronic Chemicals & Materials Market Analysis

The electronic chemicals and materials market in South Korea is expected to register a market value of around US$ 3 Bn by 2032. Growing with a CAGR of 5.3%, the market is projected to gross an absolute dollar opportunity of US$ 1.1 Bn.

Category-wise Insights

Why Silicon Wafer is projected to Witness the Fastest Growth?

Market revenue through silicon wafers is forecasted to grow at a CAGR of over 6.6% during 2022-32. Global demand for electronic gadgets like mobile phones, personal computers, laptops, and air conditioners is growing, boosting the rise of the silicon wafer. The manufacture of integrated circuits uses silicon wafers, which are frequently utilized as an underlayer in microelectronic devices.

It is anticipated that the availability of extra features in a single device will boost the demand for compact devices, increasing silicon wafer consumption worldwide. Additionally, it is projected that the market for electronic chemicals and materials will increase at a faster pace due to the expanding usage of silicon wafers in consumer electronics.

What is the impact of Covid-19 on Electronic Chemicals & Materials Market?

Due to Covid-19, key economies including China, India, Germany, and the United States implemented restrictions, disrupting the supply chain for companies that make electronic chemicals and materials. According to Independent Chemical Information Services, there was a 15-20% decline in electronic chemical products due to logistic and supply chain disruption.

Since there was less demand from the end customer, many businesses stopped operating. Additionally, because of shipping restrictions on non-essential items, there was a decrease in demand for electronic goods, which had an impact on the overall electronics industry.

China is the world's leading producer and exporter of electronic goods' raw materials. During the pandemic, the country had to stop production. It caused a gap in the supply and demand for electronic goods by compelling other electronic manufacturers, primarily those from the United States and Europe to temporarily halt the production of finished goods.

On the other hand, demand for certain electronic devices such as tablets, phones, laptops, tablets, and other gadgets increased by the middle of 2020, owing mostly to the widespread adoption of teleworking systems. These factors impacted the demand for electronic chemicals and materials dearly.

Competitive Analysis

Some of the key players in the Electronic Chemicals & Materials market include BASF Electronic Chemicals, Air Products & Chemicals Inc., Albemarle Corporation, Bayer AG, Honeywell International Inc., Linde plc, Showa Denko Materials Co., Ltd., DuPont de Nemours, Inc., Shin-Etsu Chemical Co. Ltd., Cabot Microelectronics Corporation, Solvay S.A., Covestro AG, and Global Wafers.

Some of the recent developments of key Electronic Chemicals & Materials providers are as follows:

  • In April 2021, Cabot Microelectronics Corporation purchased International Test Solution to expand its electronic materials, business division. This will allow the company to address issues that its clients in the semiconductor industry are facing.
  • In July 2020, to supply industrial gases with extremely high purity to its electronics customers in Taiwan, Linde plc started a new air separation facility and the world's first nitrogen generator. The initiative will support the expansion of silicon wafer production at Taiwan's Tainan Science Park.
  • In July 2019, in Munster, BASF Electronic Chemicals opened a new facility for functionalizing foils. These foils from damaging environmental stress shield thin-film photovoltaics. Thin-film batteries and OLED screens are two further use for foil.

Similarly, the team at Fact.MR has tracked recent developments related to companies in Electronic Chemicals & Materials Market, which are available in the full report.

Electronic Chemicals & Materials Market Segmentation

  • By Product Type :

    • Silicon Wafer
    • Photoresist
    • Specialty Glass
    • Wet Processing Chemicals
    • PCB Laminates
    • Other Types
  • By Application :

    • Semiconductors & ICs
    • PCB
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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The global Electronic Chemicals & Materials Market is worth more than US$ 64.2 Bn at present.

The value of the Electronic Chemicals & Materials Market is projected to increase at a CAGR of around 5.8% during 2022 – 2032.

While the market in South Korea is expected to grow at nearly 5.3%, the market in Japan is projected to register a CAGR of nearly 7.1% during 2022 - 2032.

The growth of the market for Electronic Chemicals & Materials in China is projected to expand at a CAGR of around 6.5% during 2022 – 2032.

The global demand for Electronic Chemicals & Materials is being fueled by a considerable increase in demand for electronic devices.

The value of the Electronic Chemicals & Materials Market increased at a CAGR of around 4.6% during 2017 – 2021.

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