According to the latest SNS Insider report, The Electronic Materials and Chemicals Market, valued at USD 64.2 billion in 2022, is poised to reach USD 105.46 billion by 2030, with a projected CAGR of 6.4% during 2023-2030, as per the latest report by SNS Insider. The electronic materials and chemicals market is experiencing dynamic growth propelled by the rapid evolution of the electronics industry and technological advancements. As electronic devices become more integrated into daily life and industries, the demand for specialized materials and chemicals to manufacture these devices continues to rise. Electronic materials and chemicals encompass a wide range of substances used in semiconductor fabrication, printed circuit board (PCB) manufacturing, and display technologies, among others, making them essential components of modern electronics.
Moreover, the proliferation of emerging technologies such as Internet of Things (IoT), artificial intelligence (AI), and 5G wireless networks is fueling demand for electronic materials and chemicals. These technologies require specialized materials and chemicals to enable their development and implementation, driving investments in new manufacturing processes and materials synthesis techniques. Additionally, the growing focus on sustainability and environmental responsibility is prompting manufacturers to develop eco-friendly alternatives and processes, further driving innovation in the electronic materials and chemicals market.
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Major Key Players in the Electronic Materials and Chemicals Market :
l BASF
l Air Products & Chemicals Inc.
l Albemarle Corporation
l Air Liquide Holdings Inc.
l Ashland Inc.
l Bayer Ag
l Linde Group
l Honeywell International Inc.
l Cabot Microelectronics Corporation
l Dow Chemical Company
l Monsanto Electronic Materials Co.
l Hitachi Chemical Company
l Brewer Science
l Sumitomo Chemical
l Shin-Etsu
l Covestro
l AZ Electronic Materials Plc
l HD Microsystems
l Drex-Chem Technologies
l and other
Market Report Scope:
The rising demand for materials and chemicals from the electronic industry globally is driving market growth. Additionally, technological advancements in the electronics industry, especially the rising preference for nanotechnology in MEMS and NEMS devices, have created significant market opportunities. The increasing inclination towards connected devices and smart technologies, driven by the demand for IoT-driven devices and AI, further fuels the market growth. However, complex regulations and high operational costs pose challenges to market growth.
Market Analysis:
The Electronic Materials and Chemicals Market is primarily driven by increasing demand for semiconductor chips, which directly impacts the demand for high-purity chemicals and materials essential for semiconductor manufacturing. Moreover, technological advancements in electronic products, driven by consumer demand for high-tech gadgets, contribute to market growth. However, health and environmental hazards associated with manufacturing and using these products may impede market growth.
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Segment Analysis:
By Type: Solid materials and chemicals dominated the type segment in 2022, primarily due to their wide-ranging applications in semiconductor manufacturing and electronic device assembly processes.
By Application: PCB laminate applications accounted for 16% of the total revenue share of the Electronic Materials and Chemicals Market in 2022. This dominance is attributed to the increasing demand for PCBs in various electronic devices.
By End-use: The Printed Circuit Boards (PCBs) end-use segment is expected to witness the highest CAGR of about 6.7% due to the growing demand for electronic components and devices across industries.
By Type
l Solid
l Liquid
l Gaseous
By Application
l Silicon wafers
l Specialty gases
l Wet chemicals and solvents
l Photoresists
l PCB Laminates
l Other Applications
By End-use
l Semiconductors & Integrated Circuit
l Printed Circuit Boards
Key Regional Development:
Asia-Pacific held the largest share of about 65% in the global Electronic Materials and Chemicals Market, driven by the region's robust electronics manufacturing ecosystem. North America is poised to experience a CAGR of 6.7%, propelled by technological advancements and increasing investments in the electronics industry.
Key Takeaways:
· The Electronic Materials and Chemicals Market is witnessing exponential growth driven by increasing demand for semiconductor manufacturing and consumer electronics.
· Technological advancements and globalization are reshaping the industry landscape, fostering innovation and market expansion.
· Asia-Pacific emerged as the dominant player, while North America showcases significant growth potential, fueled by R&D investments and technological advancements.
Recent Developments:
· In August 2023, BASF announced plans to relocate its Electronic Materials Research and Development (R&D) Center from Suwon to the company's Ansan site in South Korea, aiming to enhance research efficiency.
· In August 2022, Albemarle Corporation realigned its Bromine and Lithium global business units to meet customer needs effectively.
· In April 2021, Cabot Microelectronics Corporation acquired International Test Solution, expanding its electronic materials business division.
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