Electronic chemicals are substances or mixtures that are used in the manufacturing of electronic products and components. These chemicals help impart desired properties to electronic materials and assist in various fabrication process like cleaning, etching, and deposition of thin films.
The global Electronic Chemicals Market is estimated to be valued at US$ 67.92 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the market is increasing miniaturization of electronic devices. Manufacturers are striving to develop thinner and smaller electronic components and devices without compromising on their functionality and performance. This requires advanced electronic chemicals and materials that can facilitate ultra-miniaturized structures. Nanotechnology has enabled the use of materials and chemicals at nano scales to achieve miniaturization targets. Other trends include growing demand for eco-friendly electronic chemicals and shift towards water-based chemicals from traditional solvent-based chemicals due to stringent environmental regulations.
SWOT Analysis
Strength: Electronic chemicals offer high purity required for manufacturing semiconductors and electronic components. These chemicals enable miniaturization of electronic components.
Weakness: Stringent regulation and policies regarding the use and handling of electronic-grade chemicals increase operational costs. Supply chain disruptions can also impact the availability of raw materials.
Opportunity: Growing demand for consumer electronics such as smartphones, laptops, and tablets drives the need for higher semiconductor integration and smaller geometries. This increases the consumption of electronic chemicals.
Threats: Volatility in raw material prices can threaten profitability. Environmental concerns around the proper disposal of electronic waste also pose challenges.
Key Takeaways
The global electronic chemicals market is expected to witness high growth, exhibiting a CAGR of 6.4% over the forecast period, due to increasing demand for miniaturized electronic components in various end-use industries.
Regional analysis: Asia Pacific dominates the global market and is expected to maintain its leading position during the forecast period as well. This can be attributed to the presence of major electronics manufacturing hubs and semiconductor foundries in countries such as China, South Korea, and Taiwan.
Key players operating in the electronic chemicals market are BASF SE, Air Products and Chemicals Inc., The Dow Chemical Company, Merck KGaA (known as EMD Performance, Materials in North America), SUMCO Corporation, JSR Corporation, Shin-Etsu Chemical Co., Ltd., Cabot, Microelectronics Corporation, Tokyo Ohka Kogyo Co., Ltd., Honeywell International Inc.
The global electronic chemicals market size for 2023 is US$ 67.92 Bn. The demand for miniaturized electronic components is driving consumption of high-purity chemicals used in semiconductors, printed circuit boards, and other electronics. Asia Pacific, led by major electronics manufacturing countries, dominates the market currently. Stringent regulations around the use of these chemicals also impact the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
