The electronic chemicals market consists of various chemicals that are used in semiconductor and integrated circuit manufacturing. These chemicals help in cleaning, etching, and deposition processes. They play a vital role in enhancing the production efficiency and performance of electronic components. With the exponential growth of the electronics industry over the past few decades, demand for microchips and related components have surged tremendously. This has fueled the need for high-performance electronic-grade chemicals that can facilitate complex semiconductor manufacturing processes. The continuous miniaturization of devices has posed unique challenges, which are addressed by the development of new chemicals with advanced properties.
The global Electronic Chemicals Market is estimated to be valued at US$ 67.92 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the electronic chemicals market is the shift towards green chemicals. Environmental regulations regarding the use of hazardous chemicals in electronic manufacturing have become more stringent in recent years. This is driving participants to invest in R&D for developing eco-friendly and sustainable alternatives to traditional chemicals. For instance, many companies are focused on producing aqueous solvent-based electronic chemicals to replace harmful organic solvents. Secondly, the market is witnessing significant innovations in materials for advanced chip manufacturing processes such as 3D NAND, FinFET, and nanotechnology. R&D activities geared towards next-gen lithography techniques involving EUV, multi-patterning, and complex deposition processes are also gaining traction. This is expected to present lucrative opportunities and further stimulate demand for advanced electronic-grade chemicals over the foreseeable future.
Electronic Chemicals Market
Key players related content comprised: Key players operating in the Electronic Chemicals market are BASF SE, The Dow Chemical Company, Hitachi Chemical Company Ltd, JSR Corporation, and Kanto Chemical Co.
Porter’s Analysis
Threat of new entrants: Low. Large capital investments are needed to scale manufacturing facilities for electronic chemicals. Barriers to entry are high.
Bargaining power of buyers: Moderate. Major buyers include semiconductor manufacturers and electronics OEMs who can negotiate on pricing and quality requirements.
Bargaining power of suppliers: Moderate. Major suppliers include vendors specialized in electronic-grade chemicals. Buyers can source from multiple global and regional suppliers.
Threat of new substitutes: Low. Electronic chemicals have very specific properties required for different electronics manufacturing processes and have no cost-effective substitutes.
Competitive rivalry: High. The market is dominated by few global players. Players compete on pricing, quality, R&D for new products, and customer service.
Regional analysis comprised: The APAC region dominates the global electronic chemicals market and is expected to grow the fastest during the forecast period. Countries like China, South Korea, and Taiwan are major electronics manufacturing hubs and drive the demand.
Key Takeaways
The global Electronic Chemicals Market is expected to witness high growth. The global Electronic Chemicals Market is estimated to be valued at US$ 67.92 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.