New York, USA, Jan. 18, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global electronic chemicals market is expected to garner a revenue of $35,866.5 million and rise at a healthy CAGR of 6.3% over the analysis timeframe.
As per our analysts, with the growing product demand from the manufacturing sectors for the production of flat panel displays, semiconductors, photolithographic printing, and many more the market is projected to experience striking growth over the estimated timeframe. Moreover, the increasing demand for semiconductors because of the rising demand for semiconductors is the factor expected to foster the growth of the electronic chemicals market throughout the analysis period. However, the increasing product deployment may hamper the growth of the market over the forecast timeframe.
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Segments of the Electronic Chemicals Market
The report has been divided the market into segments based on product type, application, and region.
Product Type: Wet Chemicals & Solvent Sub-Segment to be Most Lucrative
The wet chemicals & solvent sub-segment is expected to rise at a CAGR of 6.6% during the analysis time period. In addition, the increasing use of analytical chemistry which is further used to analyze chemical materials is expected to bolster the growth of the electronic chemicals market sub-segment during the forecast period.
Application: Printed Circuit Board Sub-Segment to be Most Productive
The printed circuit board sub-segment is projected to grow at a CAGR of 7.2% over the estimated timeframe. This is mainly because of the rising use of electronic chemicals for mechanical support in electrical components.
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Furthermore, the growing use of industrial equipment, LEDs, consumer electronics, and many more, are expected to foster the growth of the electronic chemicals market sub-segment over the analysis timeframe over the analysis period.
Region: North America Region to Have Expansive Growth Opportunities
The Asia-Pacific region is expected to rise at a CAGR of 6.6% during the forecast timeframe. This is mainly because of the rising investments done by the leading market players for research and development purpose and building new manufacturing companies are predicted to drive the growth of the market sub-segment during the estimated period.
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Key Players of the Electronic Chemicals Market
The major players of the electronic chemicals market include
- Hitachi Chemical Co. Ltd.
- Sumitomo Chemical Co. Ltd
- Merck KGaA
- Honeywell International, Inc.
- Air Liquide SA
- SIDLEY CHEMICAL CO., LTD.
- MacDermid, Inc.
- Solvay S. A.
- BASF SE, and many more.
These players are widely working on the development of new business strategies and tactics to procure leading positions in the global industry.
For instance, in November 2021, Materion Corp., a leading multinational company specializing in high-performance engineered materials, has announced its acquisition with H.C. Starck Solutions, a renowned provider of high-performance materials. With this acquisition, the companies are aiming to deliver niobium and tantalum-based high-quality products for aerospace and defense, industrial, and semiconductor markets. - Inquire to Get access for Detailed Top Companies Development Strategy Report
In addition, the report also focuses on other vital aspects including SWOT analysis, the latest strategic developments, product portfolio, and the financial performance of the key players.
Related Article Links:
- Rising Demand for Applications That Make Use of Electronic Chemicals to Surge the Market Growth
- Recent Trends by Key Market Players to Boost the Electronic Chemical Industry
