April 26, 2022 05:56 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, April 26, 2022 (GLOBE NEWSWIRE) -- The global electronic chemicals and materials market size was USD 56.39 billion in 2020. The market is projected to grow from USD 59.88 billion in 2021 to USD 89.82 billion by 2028 at a CAGR of 6.0% during the 2021-2028 period.
This vital information is presented by Fortune Business Insights™, in its report, titled, “Electronic Chemicals and Materials Market, 2021-2028.”
Factors such as technological progression in the electronics industry and rising inclination for connected devices and smart technologies are expected to boost the market growth during the forecast period. Also, the rising consumption of electronic devices computers, smartphones, laptops, and air conditioners from established corporate companies will fuel the growth of the market.
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The electronic chemicals and materials report covers a comprehensive analysis of the market by presenting various prospects such as profiles of leading companies, and leading applications and end-use of the product. Additionally, the report highlights the emerging market trends, dynamics, and highlights industry developments surrounding the dominating market players.
Additionally, the growth factors that enable the progression of the market are also covered. COVID-19 impacts on the market are noted and presented in order to give our readers valuable insights to gain a competitive edge.
List of Key Players Present in the Electronic Chemicals and Materials Market:
Rising Demand from the Semiconductor Industry to Bolster Growth
Increasing demand from the semiconductor sector pertaining to the production and servicing of printed circuit boards (PCBs) and integrated circuits (ICs) is expected to drive the electronic chemicals and materials market growth. Also, excessive use case in terms of etching, polishing, cleaning, doping, and servicing for semiconductors is expected to boost the market growth. Additionally, rising integration of nanotechnology towards NEMS and MEMS devices will increase the footprint of the market.
However, complex regulations related to production and manufacturing issues will hinder the growth of the market during the forecast period. Also, a higher cost of operations for initial setup will limit the growth of the market.
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On the basis of application, the market is segmented into silicon wafers, PCB laminates, specialty gases, wet chemicals, photoresist chemicals, and others.
Based on the end-user, the market is segmented into semiconductors and others.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Asia Pacific to Occupy Largest Market Share Due to Continuous Advancement and Research and Development of New Devices
Asia Pacific will hold the largest market share during the forecast period due to rising demands for printed circuit boards due to rising developments in sectors such as electronic gaming, consumer goods, telecommunications, and IT. The region is also the home to China, which is the leading producer electrical and electronic devices. These factors are expected to drive the electronic chemicals and materials market share during the forecast period.
North America will contribute a significant share to the global contribution due to various factors such as growing demand for electronic devices, increasing consumption of CMP slurries, Low-K dielectrics, and photoresist chemicals to name a few.
Dominant Players to Focus on Product Placement to Maximize Revenue
The electronic chemicals and materials sector is highly fragmented due to the presence of large number of dominating companies. These companies are often striving for capturing maximum revenue from their consumers by launching novel products and investing heavily in R&D activities.
Other firms integrate strategies such as mergers & acquisitions and collaborations in order to gain maximum market share. For example, in April 2020: Linde started a new air separation plant for providing industrial gases ultra-high purity including hydrogen to semiconductor facilities for Samsung Electronics in South Korea. The project will include a two-phase implementation that includes large-scale infrastructure having an extensive pipeline system and multiple purifier systems.
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