Chicago, July 04, 2024 (GLOBE NEWSWIRE) -- The Global Electronic Wet Chemicals Market is 3.8 billion in 2023 and is projected to reach USD 5.4 billion by 2028, at a CAGR of 7.2%, as per the recent study by MarketsandMarkets™. The semiconductor industry, the backbone of modern electronics, relies heavily on these chemicals for chip manufacturing processes like etching and cleaning.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=265979069
Browse in-depth TOC on “Electronic Wet Chemicals Market”.
337 - Market Data Tables
50 - Figures
284 - Pages
List of Key Players in Electronic Wet Chemicals Market:
- Avantor Inc. (US)
- BASF SE (Germany)
- Cabot Microelectronics (US)
- Kanto Chemical Co. Inc. (Japan)
- Honeywell International, Inc. (US)
- Eastman Chemical Company (US)
- Linde Plc (Ireland)
- Solvay (Belgium)
- Fujifilm Corporation (Japan)
- Technic Inc. (US)
Drivers, Restraints, and Opportunities in Electronic Wet Chemicals Market:
- Driver: Technological advancements in electronic industry.
- Restrain: Rise in demand for hydrogen peroxide from the semiconductor industry.
- Opportunity: Stringent health and environmental regulations for certain chemicals.
- Challenge: Improved IT infrastructure and upcoming technologies.
Key Findings of the Study:
- Semiconductor by application is projected to be the largest, in terms of value, during the forecast period.
- Acetic acid by type is projected to be the largest, in terms of value, during the forecast period.
- Liquid form by form segment is projected to be the largest, in terms of value, during the forecast period.
- Asia Pacific is expected to be the fastest growing market for electronic wet chemicals during the forecast period, in terms of value.
Get Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=265979069
Based on type, the electronic wet chemicals market has been segmented into acetic acid, isopropyl alcohol, hydrogen peroxide, hydrochloric acid, ammonium hydroxide, hydrofluoric acid, nitric acid, phosphoric acid, sulfuric acid and others. Acetic acid accounted for the largest share, in terms of value, of the global market in 2023.
Acetic acid is the largest sub-segment under the type of segment of electronic wet chemicals. Compared to some of the harsh chemicals used in electronics manufacturing, acetic acid offers a safer and more sustainable alternative. It's readily biodegradable, less toxic, and has a lower environmental impact. In the ever-growing focus on green electronics, acetic acid's eco-friendly profile gives it a significant edge, making it a responsible choice for manufacturers.
Moreover, Acetic acid is abundantly available and relatively inexpensive compared to other electronic wet chemicals. This cost-efficiency makes it an attractive option for manufacturers, especially in price-sensitive markets. Imagine it as the budget-friendly king, offering quality and performance without breaking the bank, a crucial factor in the competitive electronics industry.
Based on form, the electronic wet chemicals market has been segmented into liquid form, gas form and solid form. Liquid form accounted for the largest share, in terms of value, of the global market in 2023.
Liquids electronic wet chemicals are generally easier to transport, store, and dispense compared to solids and gases. They can be pumped, filtered, and controlled more precisely, allowing for efficient and accurate application in delicate electronics manufacturing processes. Solids can require grinding or dissolving, adding complexity and potential contamination risks. Gases often require specialized pressure and temperature control systems, making them more expensive and technically demanding to handle. Additionally, Liquids offer better control over concentration, temperature, and flow, leading to more consistent and predictable reactions during etching, cleaning, or other wet chemical processes. This is crucial for achieving high-quality electronic components with minimal defects.
Get 10% Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=265979069
Based on application, the electronic wet chemicals market has been segmented into semiconductor, IC packaging, PCB among others. Semiconductor, accounted for the largest share, in terms of value, of the global market in 2023.
Electronic wet chemicals find their most extensive application within the semiconductor industry, primarily due to their indispensable role in fabricating integrated circuits (ICs) and electronic components. These chemicals play a pivotal role in various processes crucial to semiconductor manufacturing, such as cleaning, etching, deposition, and surface preparation. The precision and miniaturization demanded by modern electronics necessitate meticulous control over these processes, a feat achieved through the use of wet chemicals. Their ability to selectively target specific materials during etching and deposition, coupled with their capacity for ensuring uniformity and repeatability, makes them invaluable in maintaining the quality and consistency demanded by the semiconductor sector. Moreover, wet chemicals are instrumental in surface preparation, ensuring that surfaces are impeccably cleaned and primed for subsequent processing steps. The semiconductor industry's specialized requirements and stringent quality standards further reinforce the reliance on tailored wet chemical solutions, leveraging the industry's expertise and infrastructure specifically designed for liquid-based processes. Consequently, the semiconductor field stands as the largest consumer of electronic wet chemicals, owing to the critical and irreplaceable role these substances play in the intricate and precise manufacturing processes central to semiconductor fabrication.
Based on end-use industry, the electronic wet chemicals market has been segmented into consumer goods, automotive, aerospace & defence, medical among others. Consumer goods accounted for the largest share, in terms of value, of the global market in 2023.
The electronic wet chemicals market finds its largest application in the consumer goods industry due to a convergence of factors. Consumer goods, from smartphones to household appliances, heavily integrate electronic components, prompting a significant reliance on wet chemical processes during their manufacturing. These processes, which encompass tasks like cleaning, surface treatment, and circuit board fabrication, drive a substantial demand for electronic wet chemicals. Moreover, the consumer goods sector exhibits diverse applications and products, necessitating a wide range of chemical formulations tailored for specific electronic components. The industry's rapid pace of innovation and frequent product upgrades continuously call for new electronic elements, each often requiring specialized wet chemical treatments for fabrication and assembly. Quality and aesthetics remain paramount in consumer goods, and wet chemical processes contribute by ensuring precise surface treatments, coatings, and etching to meet these high standards. With consumer goods being produced in massive volumes to meet global market demands, electronic wet chemicals prove instrumental in achieving cost-effective, high-volume manufacturing processes. This market's growth is further propelled by the expanding demand for consumer electronics, continuous technological advancements, and the wide global reach of consumer goods, collectively making it the largest end-use industry for electronic wet chemicals.
The Asia Pacific market for electronic wet chemicals has demonstrated prominence, emerging as the largest and fastest-growing globally. The region, encompassing countries such as China, Japan, South Korea, Taiwan, stands as a significant electronic manufacturing hub with numerous semiconductor and electronic device manufacturing facilities. This hub status fuels a heightened demand for electronic wet chemicals integral to production processes. The growth is further propelled by the region's expansive and rapidly evolving consumer electronics industry, driven by surging demands for smartphones, tablets, laptops, and other electronic gadgets. Technological advancements, a hallmark of the Asia Pacific region, continuously drive innovation in the electronics industry. This evolution necessitates specialized electronic wet chemicals to support advanced manufacturing processes. The commitment to staying at the forefront of technological progress is evident through substantial investments in research and development by many companies in the Asia Pacific region. This includes the ongoing development of new electronic wet chemicals tailored to meet the industry's evolving needs. The well-established supply chains for electronic components in the region, facilitated by close proximity between manufacturers and suppliers, contribute to efficient supply chain management, reducing costs and time delays. Moreover, government initiatives and support further stimulate the electronics industry in the Asia Pacific, with incentives, infrastructure development, and policies designed to encourage investment in this dynamic sector.
Browse Adjacent Markets: Specialty Chemicals Market Research Reports & Consulting
Related Reports:
- Sulfuric Acid Market
- Graphene Market
- Base Oil Market
- Specialty Chemicals Market
- Green Hydrogen Companies
