Electronic Chemicals Market to be Dominated by Semiconductor & IC Application Type Through 2028
Growing
demand for semiconductor in various industry such as electronics,
aerospace, and automotive sector is
expected to drive the global electronic chemicals market in the forecast period,
2024-2028.
According to TechSci Research
report, “Electronic Chemicals
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, global electronic chemicals market is anticipated
to upsurge at an impressive rate in the forecast period of 2028. The global
shift towards renewable energy sources such as solar and wind power requires
electronic components and devices, which, in turn, drives the demand for
electronic chemicals. These chemicals are used in the production of
photovoltaic cells, storage systems, and other renewable energy technologies. The
global production of telecommunications equipment, including smartphones and 5G
& related equipment is expected to rise from USD 422.1 billion to USD 511.4
billion between 2012-22. The deployment of 5G networks is revolutionizing
wireless communication by providing faster data speeds, lower latency, and
increased connectivity. The implementation of 5G technology requires advanced
semiconductor components, such as high-frequency integrated circuits (ICs), RF
filters, and power amplifiers, which heavily rely on electronic chemicals for
their fabrication. The growing adoption of 5G drives the demand for electronic
chemicals used in the production of these components. Besides this, AI and ML
technologies are driving advancements in various industries, including
healthcare, automotive, robotics, and data analytics. These technologies
require powerful computing systems, including specialized AI chips and
processors. The manufacturing of these advanced semiconductor devices relies on
electronic chemicals for processes such as etching, deposition, and cleaning.
The growing adoption of AI and ML applications fuels the demand for electronic
chemicals used in their production and propels electronic chemicals market
growth.
Health & safety
concerns, supply chain complexity, and a highly competitive environment are the
factors that obstruct the electronic chemical market
growth. The electronic chemicals market operates in a highly competitive
environment, and manufacturers face cost pressures from various aspects. The
cost of raw materials, research and development expenses, energy costs, and
compliance with environmental and safety regulations can significantly impact
the profitability of companies in the industry. The need to balance costs while
maintaining high-quality standards and meeting customer requirements poses a
challenge for electronic chemical manufacturers. Another factor is the complex
global supply chain within an electronic
chemicals market that operates. Raw materials, intermediates, and finished
products may need to be sourced from multiple suppliers and transported across
different regions. Ensuring a stable and reliable supply chain, managing
logistics, and maintaining quality control throughout the supply chain can be
challenging, especially in a globalized and interconnected marketplace. Hence, companies
need to address the restraints to recognize the market's full potential.
Browse over XX Market
Data Figures spread through XX Pages and an in-depth TOC on the “Global
Electronic Chemicals Market”
Global
electronic chemicals market
is segmented based on type, application, and region.
Based on type,
the market is segmented into CMP slurry, wet deposition, gases, and ancillary
chemicals. The wet deposition segment is expected to hold the
largest market share in the forecast period because of its wide range of
applications in semiconductor fabrication, solar cells, nanotechnology, and
other fields.
Based on application,
the market is categorized into semiconductors
& IC and PCB. The
semiconductors & IC are
considered the largest application segment for the electronic chemicals market due
to the high demand for advanced electronic devices. Electronic chemicals are
used to manufacture and process semiconductors and ICs, which are essential
components of various electronic products such as computers, smartphones,
tablets, and sensors. The rapid growth of the electronics industry, especially
in emerging markets, is driving the demand for electronic chemicals that can
enhance the performance, reliability, and miniaturization of electronic
devices.
Major
companies operating in the global electronic chemicals market are:
- Cabot
Microelectronics Corporation
- Air
Products and Chemicals Inc
- JSR
Corporation
- BASF
SE
- Huntsman
International LLC
- DIC
Corporation
- Dongjin
Semichem Co. Ltd.
- Solvay
S. A.
- Albemarle
Corporation
- Wacker
Chemie AG
- Honeywell
International, Inc.
- DuPont
de Nemours Inc
- Sumitomo
Chemical Co. Ltd
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“Technological
advancements are a major catalyst for the growth of the electronic chemicals
market. As technology evolves, electronic devices become more advanced,
miniature, and powerful, demanding specialized chemicals for their
manufacturing. The adoption of emerging technologies like 5G wireless
communication and AI drives the demand for electronic chemicals. These
technologies rely on advanced electronic components, such as high-frequency
ICs, RF filters, power amplifiers, and AI chips, which require specialized
electronic chemicals for their manufacturing processes. The widespread
deployment of 5G networks, the proliferation of AI applications, and the
increasing demand for high-performance electronic devices stimulate the growth
of the electronic chemicals market. As technological advancements continues to
evolve, the demand for electronic chemicals is expected to increase, providing
significant growth opportunities for the market players.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Electronic Chemicals Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented
By Type (CMP Slurry, Wet Deposition, Gases, & Ancillary Chemicals), By
Application (Semiconductor & IC & PCB), By), By Region and Competition”,
has evaluated the future growth potential of the global electronic chemicals market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global electronic chemicals market.
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