Newark, April 09, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.13 billion in 2023 global electronic wet chemicals market will reach USD 8.94 billion by 2033. Opportunities may arise with the emergence of novel electronics applications, such as flexible electronics, wearable devices, and printed electronics. These applications may require unique electronic wet chemicals tailored to their manufacturing processes. Furthermore, the increasing adoption of IoT devices in various industries creates opportunities for electronic wet chemicals. IoT devices often have specific requirements for sensor components and microcontrollers, driving demand for specialized chemicals used in their production.
Request Sample PDF Brochure: https://www.thebrainyinsights.com/enquiry/sample-request/14116
Additionally, adopting Industry 4.0 and smart manufacturing practices in electronics creates opportunities for electronic wet chemicals manufacturers. Smart manufacturing technologies may require advanced chemical solutions for improved efficiency and quality control. Moreover, the rollout of 5G technology presents opportunities in the electronic wet chemicals market. Developing and producing 5G infrastructure components and devices may drive the demand for specialized chemicals used in their manufacturing processes. The rising adoption of AI and ML in various industries may also lead to opportunities for electronic wet chemicals. AI-driven processes often require specialized electronic components, driving demand for associated chemicals.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 4.13 billion |
| Market Size in 2033 | $ 8.94 billion |
| CAGR | 8.03% |
| No. of Pages in Report | 236 |
| Segments covered | by Type, Form, Application, End-Use, Regions |
| Drivers | Rising Demand for Electronic Devices |
| Opportunities | Increasing Demand for Advanced Semiconductors |
| Restraints | Environmental and Regulatory Compliance |
Browse the full report with a Table of Contents and List of: https://www.thebrainyinsights.com/report/electronic-wet-chemicals-market-14116
Key Insight of the global Electronic Wet Chemicals market
Asia Pacific is expected to witness the highest market growth over the forecast period.
Asia Pacific has a gigantic and rapidly growing consumer base, contributing to the increasing adoption of consumer electronics. The demand for smartphones, tablets, laptops, and other electronic devices fuels the growth of the electronic wet chemicals market as these products rely on semiconductor components. In addition, many governments in the Asia Pacific region are actively promoting and investing in their respective electronics industries. Initiatives to develop semiconductor ecosystems, coupled with financial incentives, contribute to the growth of the electronic wet chemicals market. Moreover, Asia Pacific countries often engage in strategic collaborations and partnerships between electronic wet chemicals manufacturers and semiconductor companies. These collaborations facilitate technology transfer, research, and the development of customized solutions, driving market growth. Furthermore, with increasing environmental awareness, there is a growing priority on green and sustainable approaches in manufacturing. Electronic wet chemicals manufacturers in the Asia Pacific are adopting environmentally friendly solutions, aligning with global sustainability trends and regulatory requirements. Besides, Asia Pacific's automotive and industrial sectors are experiencing substantial growth. Integrating electronics in vehicles, industrial automation, and smart manufacturing processes boosts the demand for electronic components, including wet chemicals.
In 2023, the acetic acid segment held the largest market share at 27.51% and a revenue of 1.14 billion.
The type segment is split into acetic acid, ammonium hydroxide, hydrochloric acid, hydrofluoric acid, hydrogen peroxide, isopropyl alcohol, nitric acid, phosphoric acid, sulfuric acid and others. In 2023, the acetic acid segment held the largest market share at 27.51% and a revenue of 1.14 billion.
In 2023, the liquid segment dominated the market with the largest share of 65.29% and revenue of 2.70 billion.
The form segment is divided into gas, liquid and solid. In 2023, the liquid segment dominated the market with the largest share of 65.29% and revenue of 2.70 billion.
In 2023, the semiconductor segment dominated the market with the largest share of 62.39% and revenue of 2.58 billion.
The application segment is divided into IC packaging, PCB, semiconductor and others. In 2023, the semiconductor segment dominated the market with the largest share of 62.39% and revenue of 2.58 billion.
In 2023, the consumer goods segment dominated the market with the largest share of 44.27% and revenue of 1.89 billion.
The end-use segment includes automotive, aerospace & defence, consumer goods, medical and others. In 2023, the consumer goods segment dominated the market with the largest share of 44.27% and revenue of 1.89 billion.
Inquiry Before Buying: https://www.thebrainyinsights.com/enquiry/buying-inquiry/14116
Advancement in market
In May 2023: Celanese has unveiled a strategic collaboration between its Micromax Electronic Inks and Pastes division and nScrypt, a company specializing in designing and producing high-precision microdispensing and direct digital manufacturing (3D printing) equipment for diverse industrial applications. This partnership is geared towards fostering inventive solutions within the printed electronics sector, leveraging the broad product range offered by Micromax Electronic Inks and Pastes and the cutting-edge FiT (Factory in a Tool) line of manufacturing systems by nScrypt.
Market Dynamics
Driver: Global expansion of semiconductor manufacturing facilities.
Emerging economies, such as those in Latin America, Southeast Asia, and parts of Africa, are noticing fast industrialization and urbanization, leading to a surge in the consumption of electronic devices. With the expansion of tablets, smartphones, laptops, and other electronic devices, there is an ever-increasing need for semiconductor chips to power these devices. As a result, semiconductor manufacturers are expanding their production capacities to meet the escalating demand. With the growth of semiconductor manufacturing, a corresponding demand for electronic wet chemicals has arisen. These chemicals are essential in various stages of semiconductor fabrication processes, including cleaning, etching, deposition, and polishing. As semiconductor production facilities ramp up their operations, the requirement for electronic wet chemicals surges proportionally. Moreover, establishing and expanding semiconductor manufacturing facilities in emerging economies often involves significant investments in infrastructure and technology. Governments and private investors in these regions are keen to capitalize on the booming electronics market, leading to the construction of state-of-the-art semiconductor fabrication plants. These facilities require a steady supply of electronic wet chemicals to ensure smooth and efficient production processes, further driving the market's growth. Additionally, the localization of semiconductor manufacturing in emerging economies helps to reduce logistics costs and shorten supply chains. This localization strategy ensures timely access to electronic wet chemicals, as manufacturers can establish partnerships with local suppliers or even set up their chemical production facilities nearby. As a result, the electronic wet chemicals market experiences a growth in demand, driven by the growing semiconductor industry in these regions.
Restraint: Volatility in raw material prices.
Rare earth metals, in particular, play a crucial role in many electronic wet chemicals due to their unique properties and effectiveness in semiconductor production. However, these metals are often subject to volatile price fluctuations influenced by geopolitical tensions, supply chain disruptions, and changes in global demand. For instance, restrictions on rare earth metal exports by producing countries or shifts in trade policies can lead to sudden price spikes, creating uncertainty for manufacturers reliant on these materials. Similarly, other chemical components used in electronic wet chemicals, such as solvents, acids, and bases, can also experience price volatility due to changes in feedstock costs, regulatory developments, or fluctuations in energy prices. These components are essential for formulating the precise chemical solutions required for various stages of semiconductor fabrication, from cleaning and etching to deposition and polishing. Any significant price changes in these chemical inputs can directly impact manufacturing expenses, potentially squeezing profit margins for companies in the electronic wet chemicals market.
Opportunity: Investments in research and development.
Innovation in electronic wet chemicals involves exploring novel chemical compounds, refining existing formulations, and developing advanced manufacturing processes to enhance performance, efficiency, and environmental sustainability. Through R&D initiatives, companies can uncover breakthroughs that optimize semiconductor fabrication processes, improve yields, and reduce manufacturing costs. Furthermore, technological betterment can lead to the evolution of precision delivery systems and automated process control solutions that streamline semiconductor manufacturing workflows and minimize waste. By investing in cutting-edge equipment and automation technologies, companies can increase productivity, reduce downtime, and achieve top levels of consistency and grade in their production processes. Companies at the forefront of innovation in electronic wet chemicals can leverage their R&D investments to differentiate themselves in the market and establish strong partnerships with semiconductor manufacturers. These companies can capture market share and command premium pricing for their products by offering proprietary formulations or patented technologies that deliver superior results. Moreover, R&D-driven companies are better equipped to anticipate and adapt to emerging trends and customer needs in the semiconductor industry. They can proactively address evolving market demands by staying ahead of the curve, such as developing chemicals tailored for next-generation semiconductor technologies like 5G, AI, and the IoT.
Challenge: Trade tariffs and geopolitical factors.
Trade tariffs are taxes governments impose on imported or exported goods to regulate trade and protect domestic industries. When tariffs are imposed on raw materials used in electronic wet chemicals, such as rare earth metals or specialty chemicals, the cost of importing these materials increases, leading to higher production expenses for manufacturers. Similarly, tariffs on finished electronic products can affect export markets and hinder the competitiveness of companies in the industry. Geopolitical factors, including diplomatic conflicts, territorial disputes, and sanctions, can also disrupt supply chains and create uncertainty for businesses reliant on international trade. For example, political tensions between trading partners may result in trade embargoes or export restrictions, limiting access to critical raw materials or markets for electronic wet chemicals. Moreover, geopolitical instability in key production regions can lead to supply disruptions, price volatility, and logistical challenges for companies sourcing materials from these areas. Furthermore, trade tensions between major economies, such as the United States, China, and the European Union, can have far-reaching implications for global trade flows and market dynamics. Escalating tariffs and retaliatory measures can escalate trade disputes, exacerbating market uncertainty and dampening investor confidence. Companies may face increased costs, supply chain disruptions, and regulatory complexities as they navigate evolving trade policies and geopolitical dynamics.
Purchase this Report (Price 4700 USD for a Single-User License): https://www.thebrainyinsights.com/buy-now/14116/single
Some of the major players operating in the global electronic wet chemicals market are:
• Alfa Chemistry
• Asia Union Electronic Chemical Corp.
• Avantor Inc.
• BASF SE
• Borregaard AS
• Celanese Corporation
• Chang Chun Group
• Daicel Corporation
• Daikin Industries Ltd.
• DERIVADOS DEL FLUOR (DDF)
• Eastman Chemical Company
• Fujifilm Holdings Corporation
• GAB Neumann GmbH
• Honeywell International Inc.
• Ineos
• Kanto Chemical Co. Inc.
• LANXESS
• Linde PLC
• Merck KGaA
• Mitsubishi Chemical Corporation
• Otto Chemie Pvt. Ltd.
• Sarex overseas
• Sinochem
• Songwon
• Solvay S.A.
• Stella Chemifa Corporation
• Technic Inc.
• TNC Industrial Co., Ltd.
• Transene Company, Inc.
• Yingpeng Chemical Co., Ltd.
Key Segments cover in the market:
By Type
• Acetic Acid
• Ammonium Hydroxide
• Hydrochloric Acid
• Hydrofluoric Acid
• Hydrogen Peroxide
• Isopropyl Alcohol
• Nitric Acid
• Phosphoric Acid
• Sulfuric Acid
• Others
By Form
• Gas
• Liquid
• Solid
By Application
• IC Packaging
• PCB
• Semiconductor
• Others
By End-Use
• Automotive
• Aerospace & Defence
• Consumer Goods
• Medical
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion) and volume (Tons). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
