by Market Overview:
Electronic chemicals are used as precursors and intermediates in the manufacturing of integrated circuits, printed circuits boards and semiconductors. They provide conductivity, insulation and etching required for manufacturing electronics.
Market key trends:
One of the key trend driving the growth of electronic chemicals market is miniaturization of semiconductors and integrated circuits. Continuous reduction in the size of electronic devices have led to decrease in size of components like semiconductors and integrated circuits. This have accelerated the demand for advanced and high purity electronic chemicals that can enable fabrication of smaller nodes and feature sizes. The miniaturization trend have significantly fueled innovation in electronic chemicals market with emergence of new product variants.
SWOT Analysis
Strength: Electronic chemicals have wide applications in semiconductor devices, printed circuit board, flat panel displays and other electronic components. Demand for electronic chemicals is expected to increase with growing electronics sector.
Weakness: Stringent environmental regulations around the use of electronic chemicals can hamper market growth. Effluents produced during manufacturing of electronic chemicals require proper treatment before disposal.
Opportunity: Emerging technologies such as 5G, AI, machine learning etc. will drive the demand for more sophisticated electronic components manufactured with advanced materials. This presents an opportunity for electronic chemicals market.
Threats: Increased adoption of refurbished and recycled electronics can affect demand growth for electronic chemicals market. Volatility in price of raw materials is also a threat.
The global Electronic Chemicals Market Share is estimated to be valued at US$ 67.92 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global electronic chemicals market is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing demand for smartphones, laptops, television sets and other consumer electronics.
Regional analysis
Asia Pacific dominated the global electronic chemicals market in 2022 and the region is expected to continue its dominance during the forecast period. Countries like China, Taiwan, South Korea and Japan are major electronics hubs and among the leading consumers of electronic chemicals.
Key players
Key players operating in the electronic chemicals market are BASF SE, Air Products and Chemicals Inc., The Dow Chemical Company, Merck KGaA, SUMCO Corporation, JSR Corporation, Shin-Etsu Chemical Co., Ltd., Cabot, Microelectronics Corporation, Tokyo Ohka Kogyo Co., Ltd., Honeywell International Inc. Major players are focusing on developing innovative solutions to cater to the changing requirements of electronics industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
