According to forecasts, the market for electronic materials and chemicals will reach US$ 121.7 billion in 2032, up from US$ 71.6 billion in 2022, growing at a CAGR of 5.4%. (2022-2032). The market is expanding due to consumer demand for chemicals and electronic materials. By etching, cleaning, and maintaining semiconductors, these electrical materials and chemicals help them operate better.
Additionally, market figures for electronic materials and chemicals are projected to increase due to technological developments in the electronics sector. One of the main reasons influencing the market share for electronic materials and chemicals is the increase in the use of wireless computing devices.
Additionally, it is probable that the usage of electronic materials and chemical devices will increase due to the growing use of these wafers to diagnose process conditions and assess the condition of equipment used in the semiconductor production process.
The expense of operating under these regulations has been very significant. Regulations build up along the supply chain, leading to high prices for raw materials, manufacturing, packaging, distribution, and product disposal, which restrains the expansion of the electronic materials and chemicals markets.
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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.
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.
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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
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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