Portland, OR, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global wet chemicals market was estimated at $3.2 billion in 2021 and is expected to hit $5.9 billion by 2031, registering a CAGR of 6.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.2 Billion |
| Market Size in 2031 | $5.9 Billion |
| CAGR | 6.3% |
| No. of Pages in Report | 310 |
| Segments Covered | End-use Industry, Type, and Region. |
| Drivers | Increasing global population and rising demand for electric vehicles |
| Restraints | Availability of alternative substitutes over harmful and toxic wet chemicals |
| Opportunities | Recent commercialization of nano based devices |
Covid-19 Scenario-
- Rapid shift of consumers toward natural and bio-based wet chemicals increased the demand for natural based wet chemicals, which impacted the global wet chemicals market positively.
- This drift is likely to persist post pandemic as well.
The global wet chemcals market is analyzed across end-use industry, type, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By product type, the acids segment held nearly half of the global wet chemicals market revenue in 2021, and is expected to dominate by 2031. The same segment, however, would also cite the fastest CAGR of 6.7% throughout the forecast period. The other segments mentioned through the report include bases, solvents, and oxidizers.
Based on application, the semiconductor segment contributed to nearly two-fifths of the global wet chemicals market revenue in 2021, and is expected to dominate by 2031. The same segment would also showcase the fastest CAGR of 6.8% throughout the forecast period. The etching, cleaning, IC packaging, and PCB segments are also assessed through the study.
Based on region, the market across Asia-Pacific generated nearly half of the global wet chemicals market in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also showcase the fastest CAGR of 6.5% during the forecast period. The other regions studied in the report include LAMEA, North America, and Europe.
The key market players analyzed in the global wet chemicals market report include BASF SE, Dow, Eastman Chemical Company, Rin Kagaku Kogyo Co. Ltd., Evonik Industries, Honeywell International Inc., Hubei Xingfa Chemicals Group Co. Ltd., Formosa Daikin Advanced Chemicals Co. Ltd., Kanto Kagaku, Mitsubishi Electric Corporation, Chang Chun Group, Santoku Chemical Industries Co. Ltd., Solvay Inc., Zhejiang Kaisn Fluorochemical Co. Ltd., and Yingpeng Chemical Co. Ltd.
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
