The electronic materials and chemicals market is anticipated to have a significant CAGR of 5.6% from 2023 to 2033. According to FMI, this market is expected to expand from USD 74,679 million in 2023 to USD 1,28,776.8 million in 2033.
Previously, the market developed at a CAGR of 4.3% from 2018 to 2022, reaching a market size of USD 71,600.2 million in 2022.
The electronic materials and chemicals market share is increasing due to the recent commercialization of nano to based products and increased demand for microelectronics.
Decreasing equipment prices and rising living standards in various regions of the world are predicted to be the primary drivers of the consumer electronics industry, which is expected to benefit the market. The market is predicted to develop due to the rising demand for semiconductors in the manufacture of mobile phones, electronic chips, and integrated circuits.
The demand for electronic materials and chemical equipment is propelling the market forward. These electronic materials and chemicals are used to improve the performance of semiconductors by etching, cleaning, and servicing them. Furthermore, technical advancements in the electronics industry are likely to boost the market statistics.
By introducing high to end LED and LCD television sets, the digital display sector is likewise aiming for higher standards, necessitating the use of high to quality electrical materials in production. As a result, existing market players might explore new revenue streams.
Electronic materials manufacturers now have a plethora of options thanks to AI to related technology. The growing demand for electric vehicles has set the electronic materials and chemicals market trends in a new cash stream. Furthermore, the construction and expansion of corporate enterprises are boosting the usage of electronic equipment that heavily rely on electronic chips and circuits, such as computers, smartphones, laptops, and air conditioners.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 5.6% |
| Market Size (2023) | USD 74,679 million |
| Market Size (2033) | USD 1,28,776.8 million |
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What Factors are Propelling the Growth of the Electronic Materials and Chemicals Market?
Various technical breakthroughs in the electronic industry significantly impact semiconductor production, which is expected to raise the adoption of electronic materials and chemical equipment throughout the forecast period. For example, future technologies, such as artificial intelligence and the Internet of Things, may increase the demand for semiconductors, chemicals, and materials.
Furthermore, Nano-devices are chosen around the world because they have outstanding properties, such as being lighter in weight, smaller in size, consuming less power, and having reduced fabrication costs. Due to the widespread use of nanotechnology, the market's future trends are changing toward NEMS and MEMS devices.
The need for semiconductors has increased as tablets, electronic appliances, computers, and cell phones has increased. As a result, increased demand from the semiconductor industry is driven by market growth.
What are the Restraining Factors in the Electronic Materials and Chemicals Market?
The use of hazardous chemicals and materials in the manufacturing of electronic items has forced firms to comply with a slew of regulations and legislation that may directly or indirectly influence their profitability. The usage of silica in semiconductor production has been a key source of worry for employees' health.
Compliance with these regulations has resulted in a high operating cost. Rules accumulate in the supply chain, resulting in high costs for raw materials, manufacture, packaging, distribution, and final product disposal, hampering the market growth.
What are the Future Trends in the Electronic Materials and Chemicals Market?
Silicon-based Nano-chips are commonly used in implantable electronics, wearable electronics, bendable displays, and other current products. Silicon wafers are high-quality materials used in the production of semiconductors, and they are necessary components for all electrical devices.
Furthermore, one of the key factors driving the market share is the increasing use of wireless computing devices. Furthermore, the adoption of electronic materials and chemical devices is expected to increase due to the rising usage of these wafers to diagnose process conditions and verify the status of equipment utilized in the semiconductor manufacturing process.
| Segment | Solid |
|---|---|
| Market Share % (2023) | 34.1% |
According to FMI's electronic materials and chemicals market report, Solid was the most popular product segment, with a CAGR of 5.3% projected. Over the projected period, rising product demand for various consumer goods, such as PCs, laptops, and smartphones, is likely to fuel demand for solid electronic materials.
Over the projected period, the market for liquid electronic chemicals and materials is expected to increase significantly. The growing demand for liquid electronic materials for cleaning and polishing the interior elements of electronic devices is predicted to be a key growth factor for the market.
In the Electronic Materials and Chemicals Industry, which Application has the most Market Share?
| Segment | Silicon Wafers |
|---|---|
| Market Share % (2023) | 48.4% |
Silicon wafer is the leading application segment for electronics and chemicals, followed by PCB laminates. Silicon wafers are expected to have a CAGR of 5.0% in the electronic materials and chemicals market.
Increasing demand for PCB laminates in the manufacturing of various electronic products, including amplifiers and LEDs, is anticipated to positively impact the industry growth over the projected period.
Principal Consultant
| Countries | CAGR |
|---|---|
| The United States Market Share % (2023) | 25.2% |
| Germany Market Share % (2023) | 8.8% |
| Japan Market Share % (2023) | 3.6% |
| Australia Market Share % (2023) | 3.1% |
| China Value CAGR % (2023 to 2033) | 4.5% |
| India Value CAGR % (2023 to 2033) | 5.2% |
| The United Kingdom Value CAGR % (2023 to 2033) | 4.6% |
Due to the rapidly expanding demand for electronic devices, the market in North America is predicted to attain a value share of 25.2% over the forecast period. In the region, the use of CMP slurries, Low-K dielectrics, and photoresist chemicals for the manufacture of electronic devices has expanded. In addition, the industry is being fueled by technological improvements and semiconductor research and development.
The Asia Pacific region is expected to expand rapidly throughout the forecast period. The high demand for printed circuit boards owing to innovations in many areas, such as electronic gaming, consumer products, telecommunications, and IT, is mostly to blame for the dominance.
Due to the presence of significant electronic materials and chemicals market manufacturers, China and India are the key contributors to the growth of this market in the area, with a CAGR of 4.5% and 5.2%, respectively, over the forecast period.
Presently, several market players are becoming fiercely competitive in the electronic materials and chemicals market share. Few competitors may capture the maximum portion of the said market.
Recent Developments:
Key players
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The market is expected to reach USD 74,679 million in 2023.
The market is anticipated to expand at a CAGR of 5.6%.
Increasing breakthrough technologies like IoT and AI and surging consumption of consumer electronics are yielding market growth.
High operating costs and increasing regulations for the production of electronic items are holding back the market growth.
Air Products & Chemicals Inc., Bayer Ag, and Albemarle Corporation are the top electronic materials and chemicals firms.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Liquid 5.2. Gaseous 5.3. Solid 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Silicon Wafers 6.2. PCB Laminates 6.3. Specialty Gases 6.4. Wet Chemicals and Solvents 6.5. Photoresist 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Uses 7.1. Semiconductors and Integrated Circuits 7.2. Printed Circuit Boards 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Air Products & Chemicals Inc. 18.2. Bayer AG 18.3. Albemarle Corporation 18.4. Ashland Global Specialty Chemicals Inc. 18.5. BASF Electronic Chemicals 18.6. Air Liquide Holding Inc. 18.7. The Merck Group 18.8. Honeywell International 18.9. Cabot Microelectronics Corporation 18.10. Linde PLC 19. Assumptions & Acronyms Used 20. Research Methodology
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Electronic Materials and Chemicals Market
