Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Global Electronic Wet Chemicals Market by Type (Acetic Acid, Isopropyl Alcohol, Phosphoric Acid) Form (Liquid Form, Solid Form, Gas Form) Application (Semiconductor, IC Packaging, PCB), End-use Industry, And Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Electronic wet chemicals Market is projected to reach USD 5.4 billion by 2028, at a CAGR of 7.2% from USD 3.8 billion in 2023
This report segments the market for the electronic wet chemicals market on the basis of type, application, form, end-use industry and region. It provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisitions associated with the market for the electronic wet chemicals market.
The global electronic wet chemicals market is experiencing rapid growth due to several key factors. One of the main drivers of growth is the increasing demand for hydrogen peroxide from the semiconductor industry. Electronic wet chemicals are crucial in the semiconductor industry, playing a vital role in the fabrication of integrated circuits and semiconductor devices. These chemicals are utilized in precision processes such as photolithography, etching, deposition, and cleaning. They enable the creation of intricate circuit patterns, precise layering of materials on semiconductor wafers, and the removal of unwanted materials.
The semiconductor industry's continuous drive for miniaturization, technological advancements, and the demand for high-performance electronic devices further emphasizes the significance of electronic wet chemicals in ensuring the quality, reliability, and functionality of semiconductor components. Another factor driving the growth of the electronic wet chemicals market is the advancements in the electronics industry, characterized by innovations in semiconductor technology, IoT applications, and high-performance devices, are driving the demand for electronic wet chemicals. As electronic components become smaller, more complex, and technologically advanced, precise fabrication processes are essential.
Electronic wet chemicals play a pivotal role in critical manufacturing steps such as photolithography, etching, and deposition. The increasing need for high-purity chemicals, compatibility with advanced materials, and adherence to stringent environmental and safety standards underscores the integral role of electronic wet chemicals in meeting the evolving demands of the dynamic and rapidly advancing electronics industry.
The key players in this market are Avantor Inc. (US), BASF SE (Germany), Cabot Microelectronics (US), and Kanto Chemical Co. Inc. (Japan), Honeywell International, Inc. (US), Eastman Chemical Company (US), Linde Plc (Ireland), Solvay (Belgium), Fujifilm Corporation (Japan), and Technic Inc. (US) etc.
Gas, by form, accounts for the second-largest market share in 2022
Gas holds the second-largest share in electronic wet chemicals, mainly due to its pivotal role in semiconductor manufacturing processes. Gaseous chemicals, utilized in deposition techniques like Chemical Vapor Deposition (CVD) and Atomic Layer Deposition (ALD), offer precision in layering materials on semiconductor wafers. They excel in achieving uniform coatings on complex structures, enable selective deposition and etching, and contribute to advanced process control.
Additionally, gaseous forms minimize material waste, exhibit compatibility with advanced materials, ensure cleanliness in cleanroom environments, allow precise temperature and pressure control, and offer scalability for high-volume semiconductor manufacturing, making them indispensable for the industry's evolving needs.
Semiconductor is expected to be the fastest growing at CAGR 7.4% for electronic wet chemicals market during the forecast period, in terms of value
The semiconductor industry is experiencing unparalleled growth within the electronic wet chemicals market, propelled by several key factors. At the forefront are continuous technological advancements and the relentless pursuit of miniaturization, driving semiconductor fabrication processes to demand increasingly sophisticated electronic wet chemicals for precision in component design and production. The evolution toward advanced node technologies, such as 7nm, 5nm, and below, amplifies the need for high-performance chemicals in critical processes like photolithography, etching, and deposition.
With the global surge in demand for electronic devices, semiconductor manufacturing capacity has expanded significantly, correlating directly with an increased need for electronic wet chemicals. The stringent requirements for high-purity chemicals in semiconductor manufacturing, essential for maintaining performance and reliability, contribute to the surging demand. As semiconductor components become more intricate with complex circuitry and multiple layers, electronic wet chemicals play an indispensable role in achieving desired complexity and functionality. The global adoption of advanced semiconductor technologies, coupled with the emergence of new materials and the integration of IoT and AI technologies, fuels the demand for electronic wet chemicals on an international scale.
Based on region, Europe was the second largest market for electronic wet chemicals market in 2022
Europe secures its position as the second-largest region in the electronic wet chemicals market, primarily propelled by a robust and advanced manufacturing base concentrated in nations like Germany, the United Kingdom, and the Netherlands. The region's strength in semiconductor manufacturing, housing well-established companies and research institutions, fuels a substantial demand for electronic wet chemicals, crucial in processes ranging from photolithography to etching and cleaning.
Europe's unwavering commitment to research and innovation ensures the continual development of cutting-edge technologies and materials, influencing the formulation of advanced electronic wet chemical solutions that cater to the dynamic needs of electronic manufacturing. Renowned for enforcing stringent environmental and safety standards, European countries foster the adoption of cleaner and more sustainable practices in the electronic industry, influencing the choice and formulation of electronic wet chemicals.
The automotive and aerospace industries, flourishing in Europe, extensively rely on electronic components, incorporating these chemicals into processes involving PCBs, sensors, and electronic systems. Furthermore, Europe's emphasis on renewable energy technologies, global export prominence in electronic goods, and a collaborative environment through partnerships and initiatives contribute synergistically to sustaining the region's significant role in the electronic wet chemicals market.
The report provides insights on the following pointers:
- Analysis of key drivers: Technological advancements in the electronics industry coupled with rise in demand for hydrogen peroxide in the semiconductor industry.
- Market Penetration: Comprehensive information on the electronic wet chemicals market offered by top players in the global electronic wet chemicals market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the electronic wet chemicals market.
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for the electronic wet chemicals market across regions.
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global electronic wet chemicals market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the electronic wet chemicals market.
Companies Profiled
- Avantor Inc.
- BASF SE
- Cabot Microelectronics Corporation
- Honeywell International Inc.
- Kanto Chemical Industry Co. Ltd.
- Eastman Chemical Company
- Solvay
- Fujifilm Holdings Corporation
- Technic Inc.
- Linde PLC
- Mitsubishi Chemical Corporation
- Air Products and Chemicals Inc.
- Zhejiang Kaisn Fluorochemical Co. Ltd
- Kredence Pvt. Ltd.
- Sarex Chemicals Ltd.
- T.N.C. Industrial Co. Ltd
- Transene Company Inc.
- Parker Domnick Hunter
- Songwon
- Entegris
- Alfa Chemistry
- Asia Union Electronic Chemical Corp.
- Tokyo Ohka Kogyo
- Jsr Corporation
- Shin-Etsu Chemical Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/41finj
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