Electronic Chemicals Market - Forecast(2023 - 2028)
Electronic Chemicals Market Overview
The electronic chemicals
market size is forecast to reach US$75.3 billion by 2027 after growing at a CAGR
of 6.2% during 2022-2027. Electronic chemicals are high-quality specialty
chemicals that are used in the processing of several electronic components and
enhance their technological performances. From photoresist
chemicals, conductive
polymers, wet chemicals, and multiple other chemicals find their use in
the processing of various electronic components such as integrated
circuits, silicon wafers,
printed circuit boards, and solar
cell panels which are an
integral part of numerous electronic products like smartphones, tablets, laptops,
televisions and other electronic appliances. The demand for smartphones is
increasing globally with the rising
disposable income levels and this is expected to influence the market’s growth
during the forecast period. For instance, according to the stats by Ericsson,
smartphone subscriptions are on the rise, projected to touch US$ 7 billion in
2027. Furthermore, the demand for laptops is bolstering globally due to the
work from home and online education system, and in turn, this is anticipated to
drive the market’s growth during the forecast period. For instance, according
to the September 2020 stats by the American
Customer Satisfaction Index, demand for laptops surged in 2020 as
Americans spent more time at home. The strict regulations regarding the use of
electronic chemicals might hamper the market’s growth during the forecast
period.
COVID-19 Impact
The market was influenced due to the COVID-19 pandemic as demand for electronic products increased during the pandemic. The work-from-home and online education culture during the pandemic bolstered the sales of electronic products such as smartphones, laptops, tablets, and televisions. The significant growth rate in the electronics sector globally stimulated the growth of the market amid the pandemic. According to the May 2021 report by LG Display, the demand for tv panels surged with the rise in the sales of televisions as more people stayed at home during the pandemic. Going forward, the electronic chemicals market is expected to witness robust growth due to the massive demand for electronic products globally.
Report Coverage
The report: “Electronic Chemicals Market Report - Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Electronic Chemicals Industry.
By Form: Solid, Liquid, Gas
By Type: Specialty Gases, CMP Slurries, Photoresist Chemicals, Conductive Polymers, Wet Chemicals (Sulfuric Acid, Iso-Propyl Alcohol, Phosphoric Acid, Ammonium Hydroxide, Nitric Acid, Others), and Others
By Application: Integrated Circuits, Printed Circuit Boards, Silicon Wafers, Chip Packaging, Flat Panel Displays, Solar Cell Panel, Photo Tooling, and Others
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).
Key Takeaways:
- Wet chemicals witnessing the highest demand in the market. This type of chemical enhances the performance and cost-efficiency of electronic components, making them the preferable option in the market.
- The increasing demand for smartphones is anticipated to drive the market’s growth. According to the stats by India Brand Equity Foundation, 5G smartphone shipments crossed 4 million units in 2020 owing to higher consumer demand post-lockdown.
- The
Asia-Pacific region is expected to witness the highest demand for electronic
chemicals owing to the booming electronic sector in the region. For instance, according to the July 2021 report by China.org.cn, consumer electronic exports had a
growth trajectory for 12 months in a row.
![](https://i.imgur.com/oDC3jTf.png)
Electronic Chemicals Market Segment Analysis - By Type
The wet chemicals segment dominated the electronic chemicals market in 2021 and is growing at a CAGR of 6.6% during the forecast period. A wide range of wet chemicals such as sulfuric acid, iso-propyl alcohol, and hydrogen peroxide is used for the processing of electronic components. Integrated circuits, silicon wafers, flat panel displays, solar cell panels, and multiple other electric components are processed with the help of wet chemicals. These chemicals increase the technological performance of electronic components in a cost-effective way. Owing to such a robust portfolio of wet chemicals, market players are increasing their capacity in the market. For instance, in March 2021, Solvay built its new hydrogen peroxide wet chemical facility in Germany. Such development in the wet chemicals segment is expected to increase the demand for wet chemicals in the market during the forecast period.
Electronic Chemicals Market Segment Analysis - By Application
The integrated circuits segment dominated the electronic chemicals market in 2021 and is growing at a CAGR of 7.2% during the forecast period. A wide variety of electronic chemicals such as CMP slurries, photoresist chemicals, and wet chemicals are used in the manufacturing of integrated circuits. The demand for integrated circuits is growing in the international market with the rise in the demand for electronic products such as laptops, tablets, smartphones, and televisions. Accordingly, market players are focused on strengthening their integrated circuits portfolio. For instance, in August 2021, Solvay along with Shinkong Synthetic Fibers Corporation collaborated to form their joint venture, Shinsol Advanced Chemicals. This new joint venture is developed to create electronic grade hydrogen peroxide to meet the increasing demand for integrated circuits in Taiwan. Such massive demand for integrated circuits is expected to increase the use of electronic chemicals which in turn, will influence the market’s growth during the forecast period.
Electronic Chemicals Market Segment Analysis - By Geography
The Asia-Pacific region held the largest market share in the electronic chemicals market in 2021, up to 32%. The high demand for electronic chemicals is attributed to the rising demand for electronics products in the region. A wide range of electronic chemicals such as photoresist chemicals, conductive polymers, and wet chemicals find their high use in the production of multiple electronic components such as flat panel displays, integrated circuits, and silicon wafers in the region. These components are later utilized in the manufacturing of multiple electronic products, ranging from smartphones to laptops and televisions. The demand for electronic products is rising in the region and this is expected to increase the demand for electronic chemicals during the forecast period. For instance, as per the May 2021 report by China.org.cn, Huawei became the second-largest manufacturer in the notebook segment with a market share of 16.9% in China in 2020. Similarly, as per the data by India Brand Equity Foundation, the consumer electronics and appliance sector is expected to grow twice the current market size and is projected to become a market value of US$ 21.18 billion by 2025. Such high demand for electronic products in the region is expected to bolster the higher use of electronic chemicals in the forecast period.
Electronic
Chemicals Market – Drivers
Increasing demand for smartphones will drive the market’s growth
Electronic chemicals
are massively used in the processing of various electronic components such as integrated circuits and silicon wafers.
These electronic components are used in smartphones to perform several
functionalities such as providing storage for the phone’s operating system,
enabling the function of amplifiers, and customizable features like the phone
directory. The demand for smartphones is rising globally
with increasing production and sales to meet the consumer’s demand for advanced
models and this is expected to augment the market’s growth in the forecast
period. For instance, according to the October 2020 stats by Consumer Technology Association, smartphone sales will rise
in 2022 where 76% of all smartphones will have 5G capabilities in 2022.
Similarly, according to the report by India Brand Equity Foundation, the
smartphones sector is on track to witness high growth in 2022, and shipment of
smartphones is anticipated between 190-200 million units by 2022. Such massive
demand for smartphones globally is expected to stimulate the use of electronic chemicals,
thereby driving the market’s growth during the forecast period.
Rising demand for laptops will drive the market’s growth
A wide variety of electronic chemicals are used for the manufacturing of flat panel displays and printed circuit boards which are later utilized in laptops. The demand for laptops is increasing globally owing to continued work, study, and entertainment at the home trend, and this is expected to influence the market’s growth during the forecast period. For instance, as per the 2021 stats by India Brand Equity Foundation, Lenovo is expanding its local manufacturing capabilities in India through different product segments, including laptops. Similarly, according to Apple’s third-quarter 2021 financial report, net sales of Macbooks were recorded at USD 8,235 million in June 2021 compared to USD 7,079 million in June 2020. Such high demand for laptops is expected to catapult the use of electronic chemicals, ultimately influencing the growth of the market during the forecast period.
Electronic Chemicals Market – Challenges
The strict regulations regarding electronic chemicals might hamper the market’s growth
The use of electronic chemicals is associated with the creation of hazardous materials which are strictly governed by several governing bodies and this might hamper the market’s growth during the forecast period. According to the data by Occupational Safety and Hazard Administration, the manufacturing of semiconductors involve the use of silicon chemicals which leads to the formation of hazards such as hydrogen gas, solvents, and flammable gas. Prolong exposure to these hazardous materials leads to acute or chronic silicosis and tuberculosis in the employees working in the plant. The Occupational Safety and Hazard Administration regulates the use of chemicals like silicon and ensures workers get proper respiratory protection inside the plants. Such strict regulations regarding the use of electronic chemicals might hamper the market’s growth during the forecast period.
Electronic Chemicals Market Industry Outlook
Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the Electronic Chemicals Market. Global Electronic Chemicals top 10 companies include:
- BASF
- Honeywell
Inc
- CMC
Materials
- Hitachi
Chemical
- Linde Plc
- Solvay
- Entegris
- Air Liquide
- Covestro
- Dow Inc.
Recent Developments
- In April 2021, CMC Materials announced the acquisition of US-based International Test Solutions. Through this acquisition, CMC Materials strengthened its semiconductor manufacturing process.
- In July 2019, Entegris, Inc. announced the acquisition of US-Based specialty chemicals manufacturer MPD Chemicals. Through this acquisition, Entegris expanded its specialty chemicals and semiconductor portfolio.
- In July 2019, Solvay increased the capacity of hydrogen peroxide in its Belgium plant to meet the growing demand in the market.
Relevant Reports
LIST OF TABLES
1.Global Electronic Chemicals Market:Product Segment Analysis Market 2019-2024 ($M)1.1 electronic chemicals market:Product segment overview Market 2019-2024 ($M) - Global Industry Research
1.2 Wafers Market 2019-2024 ($M) - Global Industry Research
1.2.1 demand for wafers, electronic chemicals, Market 2019-2024 ($M)
1.3 Gases Market 2019-2024 ($M) - Global Industry Research
1.3.1 demand for gases, electronic chemicals, Market 2019-2024 ($M)
1.4 CMP Market 2019-2024 ($M) - Global Industry Research
1.4.1 demand for CMP, electronic chemicals, Market 2019-2024 ($M)
1.5 Photoresists Market 2019-2024 ($M) - Global Industry Research
1.5.1 demand for photoresists, electronic chemicals, Market 2019-2024 ($M)
1.6 Wet chemicals Market 2019-2024 ($M) - Global Industry Research
1.6.1 demand for wet chemicals, electronic chemicals, Market 2019-2024 ($M)
2.Global Electronic Chemicals Market:Application Analysis Market 2019-2024 ($M)
2.1 electronic chemicals market:Application overview Market 2019-2024 ($M) - Global Industry Research
2.2 Semiconductors IC Market 2019-2024 ($M) - Global Industry Research
2.2.1 electronic chemicals market for semiconductors IC applications, Market 2019-2024 ($M)
2.3 PCB Market 2019-2024 ($M) - Global Industry Research
2.3.1 electronic chemicals market for PCB applications, Market 2019-2024 ($M)
3.Global Electronic Chemicals Market:Product Segment Analysis Market 2019-2024 (Volume/Units)
3.1 electronic chemicals market:Product segment overview Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Wafers Market 2019-2024 (Volume/Units) - Global Industry Research
3.2.1 demand for wafers, electronic chemicals, Market 2019-2024 (Volume/Units)
3.3 Gases Market 2019-2024 (Volume/Units) - Global Industry Research
3.3.1 demand for gases, electronic chemicals, Market 2019-2024 (Volume/Units)
3.4 CMP Market 2019-2024 (Volume/Units) - Global Industry Research
3.4.1 demand for CMP, electronic chemicals, Market 2019-2024 (Volume/Units)
3.5 Photoresists Market 2019-2024 (Volume/Units) - Global Industry Research
3.5.1 demand for photoresists, electronic chemicals, Market 2019-2024 (Volume/Units)
3.6 Wet chemicals Market 2019-2024 (Volume/Units) - Global Industry Research
3.6.1 demand for wet chemicals, electronic chemicals, Market 2019-2024 (Volume/Units)
4.Global Electronic Chemicals Market:Application Analysis Market 2019-2024 (Volume/Units)
4.1 electronic chemicals market:Application overview Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Semiconductors IC Market 2019-2024 (Volume/Units) - Global Industry Research
4.2.1 electronic chemicals market for semiconductors IC applications, Market 2019-2024 (Volume/Units)
4.3 PCB Market 2019-2024 (Volume/Units) - Global Industry Research
4.3.1 electronic chemicals market for PCB applications, Market 2019-2024 (Volume/Units)
5.North America Electronic Chemicals Market:Product Segment Analysis Market 2019-2024 ($M)
5.1 electronic chemicals market:Product segment overview Market 2019-2024 ($M) - Regional Industry Research
5.2 Wafers Market 2019-2024 ($M) - Regional Industry Research
5.2.1 demand for wafers, electronic chemicals, Market 2019-2024 ($M)
5.3 Gases Market 2019-2024 ($M) - Regional Industry Research
5.3.1 demand for gases, electronic chemicals, Market 2019-2024 ($M)
5.4 CMP Market 2019-2024 ($M) - Regional Industry Research
5.4.1 demand for CMP, electronic chemicals, Market 2019-2024 ($M)
5.5 Photoresists Market 2019-2024 ($M) - Regional Industry Research
5.5.1 demand for photoresists, electronic chemicals, Market 2019-2024 ($M)
5.6 Wet chemicals Market 2019-2024 ($M) - Regional Industry Research
5.6.1 demand for wet chemicals, electronic chemicals, Market 2019-2024 ($M)
6.North America Electronic Chemicals Market:Application Analysis Market 2019-2024 ($M)
6.1 electronic chemicals market:Application overview Market 2019-2024 ($M) - Regional Industry Research
6.2 Semiconductors IC Market 2019-2024 ($M) - Regional Industry Research
6.2.1 electronic chemicals market for semiconductors IC applications, Market 2019-2024 ($M)
6.3 PCB Market 2019-2024 ($M) - Regional Industry Research
6.3.1 electronic chemicals market for PCB applications, Market 2019-2024 ($M)
7.South America Electronic Chemicals Market:Product Segment Analysis Market 2019-2024 ($M)
7.1 electronic chemicals market:Product segment overview Market 2019-2024 ($M) - Regional Industry Research
7.2 Wafers Market 2019-2024 ($M) - Regional Industry Research
7.2.1 demand for wafers, electronic chemicals, Market 2019-2024 ($M)
7.3 Gases Market 2019-2024 ($M) - Regional Industry Research
7.3.1 demand for gases, electronic chemicals, Market 2019-2024 ($M)
7.4 CMP Market 2019-2024 ($M) - Regional Industry Research
7.4.1 demand for CMP, electronic chemicals, Market 2019-2024 ($M)
7.5 Photoresists Market 2019-2024 ($M) - Regional Industry Research
7.5.1 demand for photoresists, electronic chemicals, Market 2019-2024 ($M)
7.6 Wet chemicals Market 2019-2024 ($M) - Regional Industry Research
7.6.1 demand for wet chemicals, electronic chemicals, Market 2019-2024 ($M)
8.South America Electronic Chemicals Market:Application Analysis Market 2019-2024 ($M)
8.1 electronic chemicals market:Application overview Market 2019-2024 ($M) - Regional Industry Research
8.2 Semiconductors IC Market 2019-2024 ($M) - Regional Industry Research
8.2.1 electronic chemicals market for semiconductors IC applications, Market 2019-2024 ($M)
8.3 PCB Market 2019-2024 ($M) - Regional Industry Research
8.3.1 electronic chemicals market for PCB applications, Market 2019-2024 ($M)
9.Europe Electronic Chemicals Market:Product Segment Analysis Market 2019-2024 ($M)
9.1 electronic chemicals market:Product segment overview Market 2019-2024 ($M) - Regional Industry Research
9.2 Wafers Market 2019-2024 ($M) - Regional Industry Research
9.2.1 demand for wafers, electronic chemicals, Market 2019-2024 ($M)
9.3 Gases Market 2019-2024 ($M) - Regional Industry Research
9.3.1 demand for gases, electronic chemicals, Market 2019-2024 ($M)
9.4 CMP Market 2019-2024 ($M) - Regional Industry Research
9.4.1 demand for CMP, electronic chemicals, Market 2019-2024 ($M)
9.5 Photoresists Market 2019-2024 ($M) - Regional Industry Research
9.5.1 demand for photoresists, electronic chemicals, Market 2019-2024 ($M)
9.6 Wet chemicals Market 2019-2024 ($M) - Regional Industry Research
9.6.1 demand for wet chemicals, electronic chemicals, Market 2019-2024 ($M)
10.Europe Electronic Chemicals Market:Application Analysis Market 2019-2024 ($M)
10.1 electronic chemicals market:Application overview Market 2019-2024 ($M) - Regional Industry Research
10.2 Semiconductors IC Market 2019-2024 ($M) - Regional Industry Research
10.2.1 electronic chemicals market for semiconductors IC applications, Market 2019-2024 ($M)
10.3 PCB Market 2019-2024 ($M) - Regional Industry Research
10.3.1 electronic chemicals market for PCB applications, Market 2019-2024 ($M)
11.APAC Electronic Chemicals Market:Product Segment Analysis Market 2019-2024 ($M)
11.1 electronic chemicals market:Product segment overview Market 2019-2024 ($M) - Regional Industry Research
11.2 Wafers Market 2019-2024 ($M) - Regional Industry Research
11.2.1 demand for wafers, electronic chemicals, Market 2019-2024 ($M)
11.3 Gases Market 2019-2024 ($M) - Regional Industry Research
11.3.1 demand for gases, electronic chemicals, Market 2019-2024 ($M)
11.4 CMP Market 2019-2024 ($M) - Regional Industry Research
11.4.1 demand for CMP, electronic chemicals, Market 2019-2024 ($M)
11.5 Photoresists Market 2019-2024 ($M) - Regional Industry Research
11.5.1 demand for photoresists, electronic chemicals, Market 2019-2024 ($M)
11.6 Wet chemicals Market 2019-2024 ($M) - Regional Industry Research
11.6.1 demand for wet chemicals, electronic chemicals, Market 2019-2024 ($M)
12.APAC Electronic Chemicals Market:Application Analysis Market 2019-2024 ($M)
12.1 electronic chemicals market:Application overview Market 2019-2024 ($M) - Regional Industry Research
12.2 Semiconductors IC Market 2019-2024 ($M) - Regional Industry Research
12.2.1 electronic chemicals market for semiconductors IC applications, Market 2019-2024 ($M)
12.3 PCB Market 2019-2024 ($M) - Regional Industry Research
12.3.1 electronic chemicals market for PCB applications, Market 2019-2024 ($M)
13.MENA Electronic Chemicals Market:Product Segment Analysis Market 2019-2024 ($M)
13.1 electronic chemicals market:Product segment overview Market 2019-2024 ($M) - Regional Industry Research
13.2 Wafers Market 2019-2024 ($M) - Regional Industry Research
13.2.1 demand for wafers, electronic chemicals, Market 2019-2024 ($M)
13.3 Gases Market 2019-2024 ($M) - Regional Industry Research
13.3.1 demand for gases, electronic chemicals, Market 2019-2024 ($M)
13.4 CMP Market 2019-2024 ($M) - Regional Industry Research
13.4.1 demand for CMP, electronic chemicals, Market 2019-2024 ($M)
13.5 Photoresists Market 2019-2024 ($M) - Regional Industry Research
13.5.1 demand for photoresists, electronic chemicals, Market 2019-2024 ($M)
13.6 Wet chemicals Market 2019-2024 ($M) - Regional Industry Research
13.6.1 demand for wet chemicals, electronic chemicals, Market 2019-2024 ($M)
14.MENA Electronic Chemicals Market:Application Analysis Market 2019-2024 ($M)
14.1 electronic chemicals market:Application overview Market 2019-2024 ($M) - Regional Industry Research
14.2 Semiconductors IC Market 2019-2024 ($M) - Regional Industry Research
14.2.1 electronic chemicals market for semiconductors IC applications, Market 2019-2024 ($M)
14.3 PCB Market 2019-2024 ($M) - Regional Industry Research
14.3.1 electronic chemicals market for PCB applications, Market 2019-2024 ($M)
LIST OF FIGURES
1.US Electronic Chemicals Market Revenue, 2019-2024 ($M)2.Canada Electronic Chemicals Market Revenue, 2019-2024 ($M)
3.Mexico Electronic Chemicals Market Revenue, 2019-2024 ($M)
4.Brazil Electronic Chemicals Market Revenue, 2019-2024 ($M)
5.Argentina Electronic Chemicals Market Revenue, 2019-2024 ($M)
6.Peru Electronic Chemicals Market Revenue, 2019-2024 ($M)
7.Colombia Electronic Chemicals Market Revenue, 2019-2024 ($M)
8.Chile Electronic Chemicals Market Revenue, 2019-2024 ($M)
9.Rest of South America Electronic Chemicals Market Revenue, 2019-2024 ($M)
10.UK Electronic Chemicals Market Revenue, 2019-2024 ($M)
11.Germany Electronic Chemicals Market Revenue, 2019-2024 ($M)
12.France Electronic Chemicals Market Revenue, 2019-2024 ($M)
13.Italy Electronic Chemicals Market Revenue, 2019-2024 ($M)
14.Spain Electronic Chemicals Market Revenue, 2019-2024 ($M)
15.Rest of Europe Electronic Chemicals Market Revenue, 2019-2024 ($M)
16.China Electronic Chemicals Market Revenue, 2019-2024 ($M)
17.India Electronic Chemicals Market Revenue, 2019-2024 ($M)
18.Japan Electronic Chemicals Market Revenue, 2019-2024 ($M)
19.South Korea Electronic Chemicals Market Revenue, 2019-2024 ($M)
20.South Africa Electronic Chemicals Market Revenue, 2019-2024 ($M)
21.North America Electronic Chemicals By Application
22.South America Electronic Chemicals By Application
23.Europe Electronic Chemicals By Application
24.APAC Electronic Chemicals By Application
25.MENA Electronic Chemicals By Application
26.Albemarle Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.BASF SE, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Air Products and Chemicals, Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Ashland Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.The Dow Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Bayer MaterialScience, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.The Linde Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Cabot Microelectronics Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.AZ Electronic Materials, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Huntsman Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)