Electronic Chemicals And Materials Market Size, Share, Industry Analysis, Trends, Growth, 2032

Electronic Chemicals And Materials Industry Prospective:

The global electronic chemicals and materials market size was evaluated at $68 billion in 2023 and is slated to hit $114 billion by the end of 2032 with a CAGR of nearly 6.1% between 2024 and 2032.

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Electronic Chemicals And Materials Market: Overview

Electronic chemicals & materials are a broad segment of substances that are utilized in the assembling and production of electronic parts. These products play a key part in various phases during the electronics manufacturing process ranging from fabricating semiconductors to assembling printed circuit boards.

Key Insights

• As per the analysis shared by our research analyst, the global electronic chemicals and materials market is projected to expand annually at the annual growth rate of around 6.1% over the forecast timespan (2024-2032)
• In terms of revenue, the global electronic chemicals and materials market size was evaluated at nearly $68 billion in 2023 and is expected to reach $114 billion by 2032.
• The global electronic chemicals and materials market is anticipated to grow rapidly over the forecast timeline owing to the humungous use of the product in semiconductor chip manufacturing and microelectronics.
• In terms of application, the silicon wafers segment is slated to register the highest CAGR over the forecast period.
• Based on end-use, the semiconductor segment is predicted to contribute majorly towards the global industry share in the upcoming years.
• Region-wise, the European electronic chemicals and materials industry is projected to register the fastest CAGR during the projected timespan.

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Electronic Chemicals And Materials Market: Growth Factors

Large-scale use of product in chip manufacturing can prop up the growth of the market globally

Humungous use of the product in semiconductor chip manufacturing and microelectronics is anticipated to boost the growth of the global electronic chemicals and materials market. Breakthroughs in the domain of electronics along with its integration with IoT are projected to embellish the expansion of the global market. Onset of new technologies such as AI, 5G, VR, and AR is expected to spur the progression of the market globally. In addition to this, the rise in the use of consumer electronics goods such as smartphones, laptops, and smartwatches is likely to spur the progress of the market globally. Escalating the use of printed electronics devices in various sensors and smart systems is likely to crop up the global market elevation within the next few years. Large-scale penetration of the product in the automotive sector will also steer the global market surge.

Electronic Chemicals And Materials Market: Restraints

Stringent execution of regulations pertaining to product usage can restrict the global industry expansion by 2032

Strict implementation of laws related to the use of electronic chemicals and materials due to growing environmental issues can retard the growth of the global electronic chemicals and materials industry. Low product differentiation and competitive pricing with the business being fragmented are likely to obstruct the growth of the global industry.

Electronic Chemicals And Materials Market: Opportunities

Demand for producing aerospace components to avoid costs of purchasing new aircraft to embellish the global market expansion

Growing need for aircraft maintenance & replacement along with the launching of composite materials in aerospace manufacturing has not only brought a revolution in the global electronic chemicals and materials industry but has opened new avenues of growth for the industry across the globe. Escalating need for increasing profitability by improving the maintenance of aircraft parts has led to massive demand for the manufacture of aerospace parts.

Electronic Chemicals And Materials Market: Challenges

Rise in the number of duplicate products to challenge the growth of the industry globally over 2024-2032

Easy availability of counterfeit products and the lack of a regulatory framework for checking the quality of the product can prove to be a huge challenge for the global electronic chemicals and materials industry. Apart from this, complications witnessed in the supply chain activities and dynamic pricing due to volatility in product costs can slow down the global industry growth.

Electronic Chemicals And Materials Market: Segmentation

The global electronic chemicals and materials market is divided into application, end-use, and region.                                          

In terms of application, the electronic chemicals and materials market across the globe is bifurcated into silicon wafers, photoresist chemicals, specialty gases, PCB laminates, and wet chemicals segments. Additionally, the silicon wafers segment, which gained approximately 50% of the global market revenue in 2023, is expected to record the highest gains in the assessment timeline. The segmental surge during the period from 2024 to 2032 can be owing to the growing demand for high-quality electronic chemicals and materials in silicon wafers.  

Based on the end-use, the global electronic chemicals and materials industry is divided into semiconductor, printed circuit boards, and integrated circuits segments. Moreover, the semiconductor segment, which gathered approximately two-thirds of the global industry profits in 2023, is set to make lucrative contributions towards the global industry share in the coming few years. The expansion of the segment in the forecast period can be credited to a rise in the use of the product in semiconductors for the purpose of etching as well as maintenance purposes.

Electronic Chemicals And Materials Market: Report Scope

Electronic Chemicals And Materials Market: Regional Insights

North America is expected to maintain its dominant status in the global market in the forecast period

North America, which contributed about three-fifths of the global electronic chemicals and materials market revenue in 2023, is predicted to establish a leading position in the global market in the upcoming years. Furthermore, the regional market surge in the forecast timeframe can be credited to the humungous demand for printed circuit boards in IT, electronic gaming, telecommunications, and consumer goods sectors in the U.S. A large-scale presence of key players in Taiwan, South Korea, Japan, and China will propel the expansion of the market in North America.

The European electronic chemicals and materials industry is slated to register the highest growth rate in the next few years. The quick industry expansion in Europe can be due to the presence of key manufacturers and electronic equipment suppliers in the continent. Moreover, Germany is the biggest supplier of electronic devices and household appliances on the continent.

Key Developments

• In the second half of 2022, FUJIFILM Corporation declared the construction of a new semiconductor materials production unit in South Korea. The new unit is likely to operate in the last quarter of 2024. Such moves will drive the expansion of the electronic chemicals and materials business in Asia-Pacific.
• In the last quarter of 2022, Air Liquide entered into a long-term agreement with Kunbo Mitsui Chemicals Corporation for supplying hydrogen & carbon monoxide for methyl diphenyl diisocyanate manufacture.

Electronic Chemicals And Materials Market: Competitive Space

The global electronic chemicals and materials market profiles key players such as:

• Siltronic AG
• Wafer World Inc.
• Linde plc
• BASF AG
• Air Liquide
• Cabot Microelectronics
• Solvay AG
• Air Products Limited
• Covestro AG
• Showa Denko Materials Company Limited
• Shin-Etsu
• Sumco
• Songwon
• Global Wafers.

The global electronic chemicals and materials market is segmented as follows:

By Application

• Silicon Wafers
• Photoresist Chemicals
• Specialty Gases
• PCB Laminates
• Wet Chemicals

By End-Use 

• Semiconductor
• Printed Circuit Boards
• Integrated Circuits

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