Semiconductor Wet Chemicals Market Size, Share, Trends, Growth and Forecast 2032

Semiconductor Wet Chemicals Industry Prospective:

The global semiconductor wet chemicals market size was worth around USD 3.8 billion in 2023 and is predicted to grow to around USD 5.2 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.65% between 2024 and 2032.

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Semiconductor Wet Chemicals Market: Overview

Specialized chemical solutions called semiconductor wet chemicals are employed in the production and processing of semiconductor devices. These chemicals are essential to the cleaning, etching, stripping, and rinsing procedures, among other phases of semiconductor production. At the microscopic level, they guarantee accurate contamination control, surface preparation, and material removal.

The semiconductor wet chemicals market is driven by several variables including rising demand for consumer electronics, growth of advanced semiconductor technologies, rising adoption of EVs, increasing semiconductor foundries and stringent purity requirements. However, the stringent environmental regulation might be posing a major challenge to the industry expansion.

Key Insights

• As per the analysis shared by our research analyst, the global semiconductor wet chemicals market is estimated to grow annually at a CAGR of around 3.65% over the forecast period (2024-2032).
• In terms of revenue, the global semiconductor wet chemicals market size was valued at around USD 3.8 billion in 2023 and is projected to reach USD 5.2 billion by 2032.
• The rising consumer electronics industry is expected to drive the semiconductor wet chemicals market over the forecast period.
• Based on the product, the hydrochloric acid segment is expected to dominate the semiconductor wet chemicals market over the forecast period.
• Based on the application, the cleaning segment is expected to hold the largest market share over the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market during the forecast period.

Semiconductor Wet Chemicals Market: Growth Drivers

Rising consumer electronics sector drives market growth

The semiconductor wet chemicals market is significantly influenced by the consumer electronics industry's explosive growth. These chemicals are required in the production of modern semiconductors, which are a major component of consumer electronics such as computers, smartphones, wearables, gaming consoles, and smart home appliances. Smaller, quicker, and more energy-efficient chips those utilizing 7nm, 5nm, and newly developed 3nm technologies are given priority in modern consumer electronics. 

Highly accurate and sophisticated wet chemicals are needed to manufacture these complex chips to guarantee ideal etching and flawless cleaning. For instance, according to IPC's January 2024 Global Sentiment of the Electronics Supply Chain Report, electronics manufacturers stated that they anticipate revenue growth of 5.2 percent for 2023, with a rise to 9.5 percent in 2024.

Semiconductor Wet Chemicals Market: Restraints

The high cost of ultra-pure chemicals hinders market growth

The semiconductor wet chemicals industry is significantly hampered by the high price of ultra-pure chemicals. Although these chemicals are necessary for the creation of semiconductors, their high cost and intricate production procedures affect the dynamics of the market across all sectors. Chemicals having purity levels greater than 99.999% (five nines) or higher are required for semiconductor production. Costs are increased by the use of sophisticated filtration, distillation, and analytical processes in the production of such high-purity compounds.

Furthermore, to satisfy the changing demands of cutting-edge semiconductor technologies (such as 3D NAND, FinFET, and sub-5nm nodes), constant innovation is needed. Costs are raised by the substantial R&D effort required to create customized chemical compositions for particular uses.

Semiconductor Wet Chemicals Market: Opportunities

Increasing acquisition offers a lucrative opportunity for market growth

The growing acquisition in the semiconductor wet chemicals sector is expected to offer a potential opportunity for industry expansion. For instance, in August 2024, JSR Corporation acquired Yamanaka Hutech Corporation, a reputed manufacturer and supplier of high-purity chemicals used in the semiconductor industry. This strategic integration of YHC allows JSR to continue its transformation to optimize value for customers while diversifying and enhancing its product lineup, particularly in the area of semiconductor film-forming technology. The purchase represents a step forward in JSR's growth plan, which foresees industry rearrangement and seeks to strengthen its position in the advanced semiconductor materials market by meeting consumer expectations.

Semiconductor Wet Chemicals Market: Challenges

Limited availability of raw materials poses a major challenge to market expansion

One major obstacle facing the industry for semiconductor wet chemicals is the restricted supply of raw materials. For the production of ultra-pure chemicals used in the semiconductor manufacturing process, many of these basic ingredients are essential. Supply shortages can raise prices, conflict with production, and threaten the expansion of the market as a whole.

Semiconductor Wet Chemicals Market: Report Scope

Semiconductor Wet Chemicals Market: Segmentation

The global semiconductor wet chemicals industry is segmented based on product, application and region.

Based on the product, the global semiconductor wet chemicals market is segmented into acetic acid, hydrogen peroxide, hydrochloric acid, ammonium hydroxide, nitric acid, sulfuric acid, phosphoric acid and others. The hydrochloric acid segment is expected to dominate the semiconductor wet chemicals market over the forecast period. A vital wet chemical in the semiconductor sector, hydrochloric acid (HCl) is widely utilized in the etching, surface preparation, and wafer cleaning procedures. Hydrochloric acid's revenue growth in the wet chemicals industry is being driven by the growing demand for semiconductors across several industries, including consumer electronics, automotive, telecommunications, and the Internet of Things.

Based on the application, the global semiconductor wet chemicals industry is bifurcated into cleaning, etching, printed circuit board manufacturing, integrated circuits and others. The cleaning segment is expected to hold the largest market share over the forecast period. One of the most important uses of wet chemicals in the semiconductor sector is cleaning. During manufacturing, cleaning guarantees that silicon wafers are free of impurities, particles, organic residues, and metal ions. The market for semiconductor wet chemicals is mostly driven by the need for ultra-pure wet chemicals in cleaning applications, which also significantly accelerates the market's revenue growth.

Regional Analysis

The Asia Pacific dominates the market over the projected period

The Asia Pacific is expected to dominate the semiconductor wet chemicals market during the forecast period. Continuous expansion, technological developments, and a strong emphasis on satisfying the growing demand for semiconductor materials across a range of end-user sectors define the regional market.

The region's dominance in the semiconductor materials industry is further strengthened by its leadership in silicon-based microprocessor chips and its place in the worldwide microprocessor chip market. The federal government is pushing to provide incentives for the microprocessor chips business in China, which is poised to become a key player in the worldwide market.

Besides, North America is expected to hold a prominent market share during the forecast period. The existence of important centers for the production of microprocessor chips and a significant emphasis on technological innovation define the North American regional market.

Semiconductor Wet Chemicals Market: Competitive Analysis

The global semiconductor wet chemicals market is dominated by players like:

• Santoku Chemical Industries Co. Ltd.
• Dow
• Zhejiang Kaisn Fluorochemical Co. Ltd.
• KANTO KAGAKU
• Solvay Inc.
• Chang Chun Group
• Evonik Industries
• Rin Kagaku Kogyo Co. Ltd.
• BASF SE
• Hubei Xingfa Chemicals Group Co. Ltd.
• Formosa Daikin Advanced Chemicals Co. Ltd.
• Mitsubishi Electric Corporation
• Honeywell International Inc.
• Eastman Chemical Company
• Yingpeng Chemical Co. Ltd.

The global semiconductor wet chemicals market is segmented as follows:

By Product

• Acetic Acid
• Hydrogen Peroxide
• Hydrochloric Acid
• Ammonium Hydroxide
• Nitric Acid
• Sulfuric Acid
• Phosphoric Acid
• Others

By Application

• Cleaning
• Etching
• Printed Circuit Board Manufacturing
• Integrated Circuit
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa