Austin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- As per the SNS Insider research, The Electronic Materials and Chemicals Market size is projected to reach USD 110.2 billion by 2032 and grow at a CAGR of 6.2% over the forecast period of 2024-2032.
Advancements in Display Technologies Drive Market Growth.
Specialized electronic materials are significantly driven by recent technological advancements in display technologies, such as the introduction of OLED, flexible displays, and quantum dot technologies. OLED displays offer higher contrast with superior energy efficiency and have been widely adopted by high-end smartphones, TVs, and wearable devices. Flexible displays, which are used in foldable smartphones and innovative screen designs by suppliers are driving interest in ultra-thin films, photoresists, and flexible substrates that can bend and have high durability. In contrast, displays with quantum dot materials provide vibrant colors at lower cost and energy and are increasingly used in the latest 4K and 8K TVs. These display technologies share enhanced performance and require precision in the manufacturing process. In particular, the manufacturing process to make high-resolution flexible displays with photoresists and chemical-mechanical planarization slurries is key to obtaining high performance.
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Key Players:
- BASF
- Air Products & Chemicals Inc.
- Albemarle Corporation
- Air Liquide Holdings Inc.
- Ashland Inc.
- Bayer Ag
- Linde Group
- Honeywell International Inc.
- Cabot Microelectronics Corporation
- Dow Chemical Company
- Monsanto Electronic Materials Co.
- Hitachi Chemical Company
- Brewer Science
- Sumitomo Chemical
- Shin-Etsu
- Covestro
- AZ Electronic Materials Plc
- HD Microsystems
- Drex-Chem Technologies
However, in 2023, Samsung Display release the world’s first foldable smartphone adopting OLED material, and LG Display launched its first quantum dot ink for OLED production, causing a high demand for OLED and quantum dot materials. Additionally, according to estimates from South Korea, the export of OLED panels increased by 12% compared to the same period of the previous year, and production of flexible displays in China the largest market also showed a 2020 export increase of 417% indicating these two countries as the leading force in display manufacturing. These developments play a critical role in the rapid growth of the market for electronic materials and investments in these materials.
The chemical industry is vital, and it has been accessed as a supporting industry for the automotive, construction, electronics, agriculture, and pharmaceutical sectors. In other words, the chemical industry is the foundation that maintains these industries’ growth and progression. All of these industries are obtaining an increasing interest in emerging markets, and the reasons for that vary.
For instance, the world trend in the automotive industry is to produce lighter and more fuel-efficient cars, meaning that the demand for high-quality adhesives and coatings is increasing. Similarly, in the construction sector, the demand for protective coatings and sealants is augmenting due to the larger number of infrastructure projects in India and Brazil.
Additionally, the most recent news is about the enhancement of the production capacity of automotive coatings, which are in higher demand due to the increasing interest in the automotive industry in emerging markets. It has been announced that BASF is investing in them and planning to complete the project in 2023. Dow Chemical Company is also planning to develop new specialty chemical plants in Southeast Asia to enhance agriculture and construction needs. It is vital to note that the chemical industry’s role has not been diminished and remains to be crucial for global industrial growth, especially in emerging markets.
Electronic Materials and Chemicals Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 74.68 Bn |
| Market Size by 2031 | US$ 122.67 Bn |
| CAGR | CAGR of 6.4% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Solid, Liquid, and Gaseous) • By Application (Silicon wafers, Specialty gases, Wet chemicals and solvents, Photoresists, PCB Laminates, and Other Applications) • By End-use (Semiconductors & Integrated Circuits and Printed Circuit Boards) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Drivers | • Growing demand for electronic devices and components • Technological advancements in the electronics industry • Growing adoption of renewable energy sources |
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Segmentation Analysis
By Type
The solid segment held the largest market share around 55.23% in 2023. It is the leading segment as it has an extensive application in the semiconductor industry and the production of different electronic components. Thus, such solid materials as silicon wafers, photoresists, and dielectric materials are required for the fabrication of integrated circuits (ICs), transistors, and other microelectronics. The growth of advanced technologies, such as 5G, AI, and miniaturized electronics, that require high-precision components has led to the increasing demand for solid electronic materials. For instance, the silicon wafers serve as the base for semiconductor chips that are prevalent in almost all modern electronic devices, including smartphones and automotive electronics.
By Application
Silicon wafer applications dominated the market with a revenue share of over 43% in 2023. Over the estimated period, rising PCB laminate demand in the production of various electronic devices, like as amplifiers and LEDs, is expected to have a beneficial effect on industry growth.
Regional Landscape:
Asia-Pacific has led the market in the global electronic materials and chemicals Market with a predominance of about 65% in 2023. This region is also slated to register the maximum growth rate over the forecast period which can be owed to rampant industrialization and also the presence of a plethora of manufacturers of electronic device in nations such as China, Japan, and South Korea. It can be inferred from the dominance of the Asia-Pacific region in this sector that there is a lot of demand for printed circuit boards from this region as these boards are essential components for electronic gaming, consumer goods, IT, and telecommunications industries. This region has seen huge improvements in these sectors, which in turn has fuelled the demand for electronic materials and chemicals.
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Recent Developments
- 2023: Samsung launched a new generation of high-performance DRAM chips manufactured using its advanced semiconductor process technology. The production of these chips relies heavily on the latest silicon wafer materials, highlighting the ongoing innovation and expansion in the silicon wafer segment.
- 2023: Intel announced its 18A process technology, marking a significant advancement in semiconductor manufacturing. This technology uses new silicon wafer technologies to enable higher performance and efficiency for next-generation chips. This development underscores the growing demand for high-quality silicon wafers.
Key Takeaways:
- Silicon wafers are the leading application segment, driven by their crucial role in semiconductor manufacturing and the growing demand for high-performance chips.
- The development of new photoresists, wet chemicals, and specialty gases is crucial for precision manufacturing in electronics, reflecting a shift towards more specialized chemical applications.
- There is an increasing focus on sustainability and eco-friendly practices within the industry, with developments in green chemistry and the reduction of hazardous materials.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Electronic Materials and Chemicals Market Segmentation, By Type
9. Electronic Materials and Chemicals Market Segmentation, By Application
10. Electronic Materials and Chemicals Market Segmentation, By End-use
11. Regional Analysis
12. Company profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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