Electronic Chemicals Market to Hit $104.86 billion by 2031 - Exclusive Report by Coherent Market Insights

Electronic chemicals are chemicals used in the manufacturing of electronic components such as semiconductors, integrated circuits (ICs), printed circuit boards (PCBs). These chemicals help achieve the desired purity levels during various cleaning, etching and deposition processes.

Burlingame, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The Electronic Chemicals Market is projected to grow from US$ 67.92 billion in 2023 and is estimated to reach US$ 104.86 billion by 2031; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.4% from 2024 to 2031 according to a new report by Coherent Market Insights. The electronic chemicals market is expected to witness significant growth over the forecast period driven by rapidly growing semiconductor industry and increasing demand for consumer electronics.

Request Sample of the Report- https://www.coherentmarketinsights.com/insight/request-sample/6164

Market Dynamics:

The Electronic Chemicals Market is expected to witness high growth owing to the increasing consumer demand for electronic devices. The rapid advancement in technology and the growing adoption of smartphones, laptops, tablets, and other electronic devices have significantly increased the demand for electronic chemicals. These chemicals play a vital role in the manufacturing process of electronic devices, as they are used for cleaning, etching, and coating purposes. Furthermore, the miniaturization of electronic components has led to the need for smaller, more efficient, and reliable electronic chemicals, thereby driving market growth. Additionally, the shift towards eco-friendly and sustainable electronic chemicals is also expected to fuel market growth.

Electronic Chemicals Market Report Scope:

Report CoverageDetails
Market Revenue in 2023$67.92 billion
Estimated Value by 2031$104.86 billion
Growth RatePoised to grow at a CAGR of 6.4%
Historical Data2017–2021
Forecast Period2024–2031
Forecast UnitsValue (USD Million/Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredBy Product Type, By Application
Geographies CoveredNorth America, Europe, Asia Pacific, and Rest of World
Restraints & Challenges• Environmental concerns
• Regulatory constraints
Growth Drivers• Miniaturization of electronic devices
• Advancements in semiconductor technology

Market Trends:

Two key market trends are expected to shape the Electronic Chemicals Market in the coming years. Firstly, there is a growing trend towards the use of green and sustainable electronic chemicals. With the increasing focus on environmental conservation and the implementation of stringent regulations, manufacturers are striving to develop eco-friendly alternatives to traditional electronic chemicals. This trend is driven by the need to reduce environmental impact and promote sustainability in the electronics industry.

Secondly, there is a rising demand for high-performance electronic chemicals. As technological advancements continue to push the boundaries of electronic devices, there is an increasing need for chemicals that can meet the demands of high-performance applications. This includes chemicals with enhanced thermal stability, improved electrical conductivity, and superior reliability. Manufacturers are investing in research and development to develop innovative solutions that can enhance the performance of electronic devices.

Buy now this Business Complete Report- https://www.coherentmarketinsights.com/insight/buy-now/6164

Recent Developments:

On December 5, 2023, Merck, a prominent science and technology company, introduced AIDDISON, a groundbreaking drug discovery software. This marks the first-ever software-as-a-service platform that addresses the divide between virtual molecule design and practical manufacturability. AIDDISON™ achieves this integration through the incorporation of the SynthiaTM retrosynthesis software application programming interface (API).

On September 21, 2023, Dow unveiled a fresh lineup of propylene glycol (PG) solutions in Europe, incorporating alternative feedstocks with lower carbon impact, bio-based sources, and circular production methods. This development enables customers across various industries, including pharmaceuticals, agriculture, and food, to offer end-products with verified sustainability benefits. The use of a mass balance approach, certified by ISCC PLUS, meticulously traces the flow of sustainable raw materials in the (propylene glycol)PG manufacturing process through a complex value chain, providing verifiable and third-party validated sustainability credentials.

Key Market Takeaways:

The Electronic Chemicals Market is anticipated to witness a CAGR of 6.4% during the forecast period 2023-2030, owing to the rising demand for specialty gases and the growing semiconductor industry.

On the basis of product type, the specialty gases segment is expected to hold a dominant position, owing to its wide range of applications in electronic manufacturing processes.

On the basis of application, the semiconductor segment is expected to dominate the market, driven by the increasing demand for advanced electronic devices and emerging technologies such as IoT and AI.

In terms of region, North America is expected to hold a dominant position over the forecast period, due to the presence of key players and technological advancements in the region.

Key players operating in the Electronic Chemicals Market include BASF SE, Air Products and Chemicals Inc., The Dow Chemical Company, Merck KGaA, SUMCO Corporation, JSR Corporation, Shin-Etsu Chemical Co., Ltd., Cabot Microelectronics Corporation, Tokyo Ohka Kogyo Co., Ltd., and Honeywell International Inc. These players are focusing on strategic partnerships and product innovation to gain a competitive edge in the market.

Read complete market research report, "Electronic Chemicals Market, By Product Type, By Application, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031", Published by Coherent Market Insights.

Market Opportunities:

Rising Demand for Specialty Gases

The specialty gases segment is anticipated to hold a dominant position in the Electronic Chemicals Market. Specialty gases are widely used in various electronic applications, such as semiconductor manufacturing and flat panel displays. These gases play a crucial role in the fabrication processes of electronic devices, ensuring the high performance and reliability of the final product.

With the increasing demand for advanced electronic devices and the growing semiconductor industry, the demand for specialty gases is expected to witness significant growth. Specialty gases offer benefits such as superior purity, stability, and precision, which are essential for electronic manufacturing processes. Additionally, the rising adoption of advanced technologies, such as Internet of Things (IoT) and artificial intelligence (AI), is further fueling the demand for specialty gases in the electronic industry.

Growing Semiconductor Industry

The semiconductor industry is expected to dominate the Electronic Chemicals Market. Semiconductors are an integral part of various electronic devices, including smartphones, laptops, and televisions. The increasing consumer demand for these devices, coupled with technological advancements, is driving the semiconductor industry.

The demand for semiconductors is also fueled by emerging technologies such as 5G, IoT, and AI. These technologies require advanced semiconductors with higher processing power, storage capacity, and speed. As a result, the demand for electronic chemicals, including conductive polymers, photoresist chemicals, and CMP slurries, is increasing in the semiconductor industry.

Ask for Customization: https://www.coherentmarketinsights.com/insight/request-customization/6164

Detailed Segmentation:

By Product Type:

  • Speciality Gases
  • CMP Slurries
  • Conductive Polymers
  • Photoresist Chemic
  • Others

By Application

  • Semiconductor
  • Integrated Circuit
  • Printed Circuit Board
  • Others

By Region:

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

Find more related trending reports below:

Acetone Market – by Application (Methyl methacrylate, Bisphenol-A, Aldol chemicals, and Solvent), By End-Use Industry (Chemicals, Pharmaceuticals, Cosmetics, and Electronics), by Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2024-2031

Monoisopropanolamine Market - Size, Share, Trends, and Forecast, 2024-2031

Disinfectants Market, By Product Type (Oxidizing Agents (Sodium Hypochlorite, Chlorine Dioxide, Hydrogen Peroxide, Peracetic Acid, Others), Phenolic, Quaternary Ammonium Compounds, Aldehydes (Formaldehyde, Glutaraldehyde)), By End-Use Industry (Healthcare (Hospitals and Clinics, Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Others), Food & Beverages, Chemical Processing Industry, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2024 – 2031

E-Coat Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2024-2031

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

Follow Us: LinkedIn | Twitter


Contact Data