Electronic Chemicals and Materials Market worth $64.3 billion by 2025 Globally, at a CAGR of 6.0 %, says MarketsandMarkets™

Chicago, Jan. 11, 2024 (GLOBE NEWSWIRE) -- The Global Electronic Chemicals and Materials Market is estimated to be USD 48.1 billion in 2020 and is projected to reach USD 64.3 billion by 2025, at a CAGR of 6.0% between 2020 and 2025, as per the recent study by MarketsandMarkets™. The market growth is reliant on the semiconductor industry, which is affected by the technological advancements in the electronics industry. Along with the increasing demand for circuit boards and memory chips, technologies such as artificial intelligence (AI) are expected to drive the market in the semiconductor industry. The market growth is also attributed to the intense penetration of electric and hybrid cars. The communications industry is expected to grow in the upcoming years because of the introduction of 5G technology, which is projected to drive the electronic chemicals and materials market. 

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List of Key Players in Electronic Chemicals and Materials Market:

1. Linde plc (Ireland)
2. Air Products (US)
3. Cabot Microelectronics (US)
4. BASF AG (Germany)
5. Hitachi Chemical (Japan)
6. Air Liquide (France)
7. Solvay A.G. (Belgium)
8. Shin-Etsu (Japan)
9. Covestro (France)
10. Songwon (South Korea).

Drivers, Opportunities and Challenges in Electronic Chemicals and Materials Market:

1. Drivers: Technological advancements in the electronics industry
2. Restraint: Stringent health and environmental regulations regarding certain chemicals and materials
3. Challenges: A rapid decline in the use of old technologies
4. Opportunity: Improved IT infrastructure and upcoming technologies such as AI and IoT

Key Findings of the Study:

1. The silicon wafers segment is estimated to be the largest type of electronic chemicals and materials.
2. The semiconductor application segment of the electronic chemicals and materials market is expected to register the highest CAGR during the forecast period.
3. APAC accounts for the largest share in terms of the value of the electronic chemicals and materials market.

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There are different types of electronics chemicals and materials mainly used, namely specialty gases, CMP slurries, photoresists, conductive polymers, wet chemicals, acids, gases, solvents, and electronic materials wafers and laminates. Silicon wafers are the largest type of electronic chemicals that are used in the electronics industry.

The electronics chemical and materials market has been classified based on its applications into semiconductors and others (NEMS, MEMS, and others). Among them, the semiconductors are the most extensive application of electronic chemicals and materials.

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Silicon wafers are the largest type of electronic chemicals and materials. These are a thin slice of semiconductor, which is made out of crystalline silicon and is a key component in the fabrication of integrated circuits and serves as a substrate for microelectronics devices. The primary use of silicon wafer is in integrated circuits, which are the basic building block of any electronic devices, such as computers and smartphones. Other applications include tire pressure systems and solar cells. The silicon wafer market is expected to grow with the integrated circuits and solar markets' growth during the forecast period. 

In terms of region, the electronic chemicals and materials market has been segmented into the following segments: North America, Europe, APAC, and the Rest of the World (RoW). APAC accounted for a share of 75%, in terms of value, of the electronic chemicals and materials market, in 2019. The region has emerged as the largest consumer due to an increasing proportion of Chinese semiconductor products and China's strong memory chip market.

Linde, Air Products, Cabot Microelectronics are some of the leading companies in the market. The leading companies are determined by considering the year of establishment, geographical presence, several recent developments, and its product offering in the electronic chemicals and materials market.

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