Electronic Chemicals Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (CMP Slurry, Wet Deposition, Gases, and Ancillary Chemicals), By Application (Semiconductor & IC and PCB), By Region and Competition, 2020-2030F

Market Overview

Global Electronic Chemicals Market was valued at USD 23.14 Billion in 2024 and is expected to reach USD 29.72 Billion by 2030 with a CAGR of 4.22% during the forecast period, due to the growing demand for semiconductors from various industries, rising demand for silicon wafers, focus on sustainable energy sources like wind and solar energy, growing adoption of new technologies, such as 5G and artificial intelligence, increasing investment for research and development, favorable government policy for end-user industries.

The global electronic chemicals market refers to the market for chemicals used in the production and manufacturing of electronic components and devices. These chemicals play a crucial role in various stages of electronic manufacturing, including cleaning, etching, deposition, and surface preparation. They are used to enhance the performance, reliability, and functionality of electronic devices. The total production of electronic equipment and devices by the electronics and IT industries is expected to be USD 3,436.8 billion and increase at a significant rate in 2023 to reach USD 3,526.6 billion.

Electronic chemicals are extensively used in semiconductor manufacturing processes. They are employed in the production of integrated circuits (ICs), which are the building blocks of electronic devices. These chemicals are used for cleaning wafers, removing impurities, etching patterns, and depositing thin films on silicon wafers. PCBs are essential components of electronic devices that provide mechanical support and electrical connections between various electronic components. Electronic chemicals are used in PCB manufacturing for processes such as cleaning, etching, plating, and solder mask application. These chemicals ensure proper circuitry and connectivity on the board.

During the assembly of electronic components onto PCBs, electronic chemicals are used for processes like soldering, flux application, and surface mount technology. These chemicals help in ensuring reliable connections and proper functioning of the assembled components. Apart from these, electronic chemicals are also used in various other electronic manufacturing processes, including wire bonding, die-attach, encapsulation, and thermal interface materials. These chemicals facilitate the bonding, protection, and heat management of electronic components. Hence, the market is expected to continue expanding as the electronics industry evolves and new technologies emerge.

Key Market Drivers

Growing Demand for Semiconductors from Various Industries is a Propelling Factor for Electronic Chemicals Market Growth

The growing demand for semiconductors from various industries is indeed a significant driver for the electronic chemicals market. Semiconductors are fundamental components used in a wide range of applications, including consumer electronics, automotive, industrial automation, telecommunications, healthcare devices, and many others. As the demand for electronic devices and technological advancements continues to rise, the need for semiconductors increases, thereby driving the demand for electronic chemicals. According to the Japan Electronics and Information Technology Industries Association report, it is stated that the production of semiconductors has estimated to increase from USD 291.6 billion in 2012 to USD 580.1 billion in 2022 worldwide.

The consumer electronics industry is a major consumer of semiconductors. The increasing popularity of smartphones, tablets, wearable devices, gaming consoles, and other consumer electronics drives the demand for semiconductors. These devices require advanced semiconductors, and electronic chemicals are vital in their manufacturing processes. The automotive industry is experiencing a significant transformation with the advent of electric vehicles (EVs), autonomous driving technologies, and connected cars. These advanced automotive systems heavily rely on semiconductors for functionalities such as powertrain control, infotainment systems, advanced driver-assistance systems (ADAS), and more. As the automotive industry embraces these technological advancements, the demand for semiconductors and electronic chemicals used in their production increases.

The industrial automation sector, including robotics, factory automation, and smart manufacturing, relies on semiconductors for process control, sensor technologies, and communication systems. As industries increasingly adopt automation to improve productivity and efficiency, the demand for semiconductors and the electronic chemicals required in their fabrication rises. The telecommunications industry is experiencing rapid growth driven by the expansion of 5G networks, increased data consumption, and the Internet of Things (IoT). These advancements rely on semiconductor technologies for network infrastructure, wireless communication, and data processing. The demand for semiconductors in the telecommunications sector leads to a corresponding demand for electronic chemicals.

Furthermore, the healthcare industry relies on semiconductors for medical imaging devices, diagnostic equipment, monitoring systems, and implantable devices. With the increasing demand for advanced healthcare technologies, the demand for semiconductors and electronic chemicals used in their production grows. The exponential growth of data centers and cloud computing services requires a substantial number of semiconductors to handle data processing, storage, and networking. The demand for semiconductors in this sector drives the need for electronic chemicals used in semiconductor manufacturing. Therefore, the growing demand for semiconductors from these industries, coupled with technological advancements and the need for innovative electronic devices, contributes to the expansion of the electronic chemicals market.

Rising Focus on Sustainable Energy is the Key Factor that Drives the Electronic Chemicals Market Growth

The rising focus on sustainable energy is a significant driver for the growth of the electronic chemicals market. As the world increasingly recognizes the need to transition to cleaner and more sustainable energy sources, such as solar power, wind energy, and energy storage systems, the demand for electronic chemicals used in these sectors expands. According to the “Renewable 2022” report, the global renewable power capacity production is expected to expand by 2,400 gigawatts (GW) by 2027 in which wind and solar together responsible for over 90% of the renewable power capacity that is going to include in the next five years.

The solar PV industry is one of the fastest-growing sectors in sustainable energy. Solar panels contain semiconductors, and electronic chemicals play a crucial role in their manufacturing processes. These chemicals are used in the deposition of thin films, anti-reflective coatings, and passivation layers, ensuring the efficiency and performance of solar cells. The increasing adoption of solar energy and the expanding solar PV industry directly drives the demand for electronic chemicals.

Energy storage systems, including batteries and capacitors, are essential for storing renewable energy generated from sources like solar and wind power. Electronic chemicals are employed in the production of energy storage devices, contributing to their performance and stability. The development of advanced battery technologies, such as lithium-ion batteries, requires specialized electronic chemicals in electrode fabrication, electrolyte formulation, and other manufacturing processes.

The growing market for electric vehicles is driven by the need to reduce carbon emissions and dependence on fossil fuels. EVs rely on advanced semiconductor technologies and energy storage systems. Electronic chemicals are crucial in the manufacturing of semiconductors used in EV components like power electronics, motor control systems, and battery management systems. The increasing adoption of electric vehicles leads to a higher demand for electronic chemicals.

The drive for sustainable energy is also closely linked to energy efficiency and power management in various industries. Electronic devices and systems that promote energy efficiency and optimize power consumption require specialized electronic components and semiconductors. Electronic chemicals play a role in the manufacturing of these components, supporting the growth of energy-efficient technologies and systems.

Governments and organizations worldwide are implementing stricter environmental regulations and promoting sustainability initiatives such as the US Inflation Reduction Act. These regulations aim to reduce the environmental impact of manufacturing processes and encourage the use of eco-friendly alternatives. Adapting to these regulations and developing greener energy alternatives that are sustainable and less harmful to the environment will help electronic chemical manufacturers. Hence, the focus on sustainable practices to extract energy drives the growth of the global electronic chemicals market.

The rising focus on sustainable energy motivates research and development efforts in the electronics industry. Ongoing R&D initiatives aim to improve the efficiency, durability, and performance of electronic devices and components used in sustainable energy applications. These advancements often require the development of new electronic chemicals and materials, fostering innovation and market growth. Therefore, the increasing focus on sustainable energy sources and the shift towards cleaner technologies create a favorable environment for the electronic chemicals market.

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Key Market Challenges

Shifting Consumer Behavior & Digital Substitution

The global electronic chemicals market faces significant challenges due to supply chain disruptions and raw material volatility, stemming largely from its dependence on a concentrated network of suppliers—particularly in regions like East Asia—for critical inputs such as high-purity gases, solvents, and rare earth elements. Geopolitical tensions, export restrictions, and trade policies have led to frequent supply interruptions, while external shocks like the COVID-19 pandemic exposed the fragility of global logistics, causing extended lead times and inflated costs. Moreover, fluctuations in the prices of key raw materials—driven by scarcity, mining constraints, and energy price surges—further strain profitability and planning for chemical manufacturers. To mitigate these risks, companies are increasingly pursuing dual sourcing strategies, regionalizing production, and building buffer inventories, but these measures also add to operational costs and complexity.

Key Market Trends

Innovation & Strategic M&A

Innovation and strategic mergers & acquisitions (M&A) are playing a critical role in shaping the competitive landscape of the global electronic chemicals market. As the semiconductor industry rapidly evolves—with increasing demand for miniaturized chips, higher computing power, and improved energy efficiency—chemical suppliers are under pressure to deliver next-generation materials that meet stringent purity, performance, and environmental standards. To remain competitive, leading players are investing heavily in research and development (R&D), process optimization, and new product innovation tailored for advanced applications such as 5G, AI, electric vehicles, and quantum computing.

One prominent area of innovation involves the development of ultra-high purity chemicals, particularly in photolithography, etching, and cleaning processes used in semiconductor fabrication. Companies are pushing the boundaries of chemical formulation to cater to emerging lithography nodes below 5 nm and extreme ultraviolet (EUV) processes. New chemistries are also being introduced for CMP (chemical mechanical planarization) slurries, dielectric materials, and conductive adhesives, which are crucial for modern chip stacking and packaging technologies. Furthermore, sustainability is becoming a core driver of innovation, with chemical firms designing eco-friendly formulations that eliminate hazardous substances such as PFAS and heavy metals, aligning with growing regulatory mandates worldwide.

In parallel, strategic M&A activities are accelerating across the industry. Major players are acquiring niche firms and startups to broaden their product portfolios, enhance technological capabilities, and secure supply chains. For example, Entegris’ acquisition of CMC Materials expanded its CMP slurry and advanced chemical delivery solutions. Similarly, DuPont has acquired companies specializing in high-performance films, advanced dielectrics, and circuit protection materials to deepen its footprint in electronics. These acquisitions not only bring complementary technologies under one roof but also allow companies to offer integrated material solutions across multiple stages of semiconductor manufacturing.

M&A is enabling geographic expansion, particularly into high-growth markets such as China, Taiwan, and South Korea—regions that dominate global semiconductor production. By acquiring local firms or forming strategic partnerships, multinational chemical suppliers can localize production, shorten lead times, and better align with customer needs in key fabrication hubs. This is especially critical amid growing geopolitical tensions and supply chain vulnerabilities, prompting many end users to seek more resilient and diversified sourcing options.

Innovation and strategic M&A are fundamental to value creation in the electronic chemicals market. Companies that effectively leverage these strategies are better positioned to capture emerging opportunities, reduce risks, and respond to the evolving needs of semiconductor and electronics manufacturers in an increasingly complex global ecosystem.

Segmental Insights

Type Insights

Based on the Type, the Wet Deposition segment has emerged as the fastest-growing segment in the Global Electronic Chemicals Market in 2024, due to its cost-effectiveness, simplicity, and high uniformity in coating processes. Wet deposition techniques such as spin coating and dip coating are widely used in the semiconductor and printed circuit board (PCB) industries for applying thin films and photoresists. The growth in demand for consumer electronics, smartphones, and advanced semiconductor devices is driving the adoption of wet deposition methods, especially in emerging economies where manufacturers prioritize lower-cost yet reliable deposition techniques. Moreover, continuous innovation in wet chemical formulations and expansion of fab capacities globally have further accelerated the segment's growth in 2024.

Application Insights

Based on the Application, the Semiconductor & IC segment has emerged as the fastest-growing segment in the Global Electronic Chemicals Market in 2024, driven by the accelerating global demand for high-performance electronics. The rapid adoption of advanced technologies such as 5G, artificial intelligence (AI), and the Internet of Things (IoT) has significantly increased the need for complex and miniaturized semiconductor devices. These next-generation chips require ultra-high-purity electronic chemicals for critical fabrication processes like photolithography, etching, cleaning, and doping.

The global expansion of semiconductor manufacturing facilities is another key factor contributing to this growth. Leading players such as TSMC, Intel, and Samsung are investing heavily in new fabs to meet surging global chip demand. This scaling up of production is directly increasing the consumption of electronic chemicals used throughout the semiconductor manufacturing cycle. Moreover, government-backed initiatives and incentives in major economies like the United States, China, South Korea, and the European Union to boost domestic semiconductor production have further fueled growth in this segment.

The rising adoption of semiconductors in electric vehicles (EVs), consumer electronics, and industrial automation systems continues to expand the application scope. As the industry shifts toward smaller node technologies and higher chip complexity, the need for precision-grade chemicals is expected to grow exponentially, reinforcing the segment’s dominance..

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Regional Insights

Based on Region, the Asia Pacific has emerged as the dominating region in the Global Electronic Chemicals Market in 2024, primarily driven by its strong manufacturing base, rapid technological advancements, and increasing demand for consumer electronics. Countries like China, Japan, South Korea, and Taiwan are at the forefront of semiconductor and electronic device production. These nations host some of the largest semiconductor fabrication plants and integrated circuit (IC) manufacturers globally, which has significantly increased the consumption of electronic chemicals such as photoresists, wet chemicals, etchants, and CMP slurries.

The region benefits from favorable government policies that support the development of local semiconductor industries through incentives, subsidies, and infrastructure development. For instance, China’s "Made in China 2025" initiative and India’s Production-Linked Incentive (PLI) scheme for electronics manufacturing have attracted substantial investments, boosting demand for high-purity chemicals used in chip fabrication and PCB manufacturing.

The presence of a large consumer base and growing digitalization across developing economies in the Asia Pacific have led to rising consumption of electronic devices such as smartphones, laptops, and smart appliances. This increasing demand has a direct correlation with the expansion of the electronic chemicals market. As a result, the region has cemented its position as the global leader in electronic chemicals in 2024.

Recent Development

• In July 2025, Wipro Infrastructure Engineering (WIN) announced the launch of a new business division, Wipro Electronic Materials, dedicated to the production of high-performance materials for Printed Circuit Boards (PCBs).
• In May 2025, researchers at Rutgers University–New Brunswick identified a new class of materials, termed intercrystals, which have the potential to significantly advance future technological developments.
• In August 2024, JSR Corporation completed the acquisition of all outstanding shares of Yamanaka Hutech Corporation, thereby making it a wholly owned subsidiary. This strategic acquisition is intended to broaden JSR’s semiconductor materials portfolio, with a particular focus on film-forming technologies. The move supports JSR’s long-term growth strategy to deliver greater customer value and streamline its supply chain amid the dynamic evolution of the semiconductor sector.
• In May 2024, Air Liquide announced the expansion of its operations with the launch of a new diborane production facility at its Advanced Materials Center in Sejong, South Korea. This cutting-edge plant leverages advanced analytical and digital capabilities to ensure the delivery of high-purity diborane, a critical component in semiconductor manufacturing. The initiative reinforces Air Liquide’s commitment to strengthening South Korea’s semiconductor ecosystem and aligns with its broader objective to localize production of advanced materials.

Key Market Players

• 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.

Report Scope

In this report, global electronic chemicals market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

•  Electronic Chemicals Market, By Type:
• CMP Slurry
• Wet Deposition
• Gases
• Ancillary Chemicals
•  Electronic Chemicals Market, By Application:
• Semiconductor & IC
• PCB
• Electronic Chemicals Market, By Region:
• North America
• United States
• Mexico
• Canada
• Europe
• Germany
• Spain
• United Kingdom
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• South America
• Brazil
• Colombia
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global  electronic chemicals market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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