PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425003
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425003
Electronic Wet Chemicals Market size was valued at USD 3,412.3 Million in 2023, expanding at a CAGR of 7.5% from 2024 to 2032.
The electronic wet chemicals market is a dynamic and integral segment within the electronics industry, playing a crucial role in the production and refinement of electronic components. These chemicals are specifically designed for use in various stages of semiconductor manufacturing processes, such as cleaning, etching, and deposition, to ensure the highest quality and performance of electronic devices. With the rapid advancements in technology and the increasing demand for smaller, more powerful electronic components, the electronic wet chemicals market has witnessed significant growth. Key drivers include the proliferation of smartphones, the expansion of the Internet of Things (IoT), and the continuous development of high-performance computing systems. The market encompasses a wide range of wet chemicals, including cleaning agents, solvents, acids, and other specialty chemicals, tailored to meet the stringent requirements of semiconductor fabrication.
Electronic Wet Chemicals Market- Market Dynamics
Increasing Demand for Semiconductor Devices
The increasing demand for semiconductor devices stands out as a pivotal driving factor propelling the growth of the electronic wet chemicals market. This surge in demand is intricately tied to the pervasive integration of electronic components into nearly every facet of modern life. Consumer electronics, such as smartphones, tablets, and laptops, are continually evolving to meet the ever-growing expectations for enhanced performance, reduced size, and improved energy efficiency. As these devices become more sophisticated, the semiconductor industry faces the challenge of producing smaller and more powerful components. Electronic wet chemicals play a crucial role in this process, aiding in the meticulous fabrication of semiconductor devices through various stages of manufacturing. Most of the semiconductor manufacturer are investing in AI chip development, for instance, July 2023, TSMC, the world's largest chipmaker, has announced plans to invest over 90 billion New Taiwan dollars ($2.9 billion) in building an advanced chip facility in Taiwan as it expands manufacturing to satisfy rising demand for artificial intelligence (AI) devices.
Electronic Wet Chemicals Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032)
Based on form segmentation, liquid was predicted to show maximum market share in the year 2023
Based on application segmentation, semiconductor was the leading application in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Electronic Wet Chemicals Market is segmented on the basis of Product Type, Form, Application and Region.
The market is divided into three categories based on form: Liquid, solid and gas. In the electronic wet chemicals market, the dominance of liquid forms is unequivocally evident, reflecting the industry's reliance on precise and controlled applications throughout semiconductor manufacturing. Liquid forms, which encompass acids, bases, solvents, and various specialty chemicals, are favored for their adaptability in meeting the stringent requirements of semiconductor fabrication processes. Liquids offer a distinct advantage in achieving uniform and controlled distribution, critical for intricate tasks such as etching, cleaning, and deposition on semiconductor wafers. The liquid nature of these chemicals facilitates their integration into automated manufacturing processes, ensuring accurate and repeatable application, which is essential for the production of high-performance electronic components.
The market is divided into three categories based on application: Semiconductor industry, printed circuit board (PCB) industry and electronic applications. The electronic wet chemicals market is witnessing significant growth, with semiconductor applications emerging as the dominant force driving demand within the industry. As the semiconductor sector continues to advance rapidly, fueled by innovations in electronic devices and technology, the need for high-performance and reliable wet chemicals has become paramount. Electronic wet chemicals play a crucial role in various stages of semiconductor manufacturing, including cleaning, etching, and polishing processes
Electronic Wet Chemicals Market - Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The electronic wet chemicals market hums with the energy of a fierce competition, where established giants lock horns with nimble startups in a high-stakes game of innovation and market share. Here, industry titans like BASF, Dow, Merck, and Solvay reign supreme, wielding their extensive research resources and established supply chains to cater to the demanding needs of major chipmakers. But their dominance is challenged by a new breed of agile disruptors, smaller firms who leverage their niche expertise, sustainable practices, and cutting-edge formulations to carve their own territories. The battleground shifts across continents, with Asia-Pacific leading the charge thanks to its electronics manufacturing powerhouses like China, Taiwan, and South Korea. Europe counters with its specialty chemicals and high-end materials, while North America plays host to both established players and pioneering startups. To stay ahead, companies increasingly turn to collaboration and consolidation, forging partnerships and acquisitions to broaden their reach and acquire new expertise.
In July 2022, Entegris strengthened its position as the world leader in electronic materials with the acquisition of CMC Materials. Its dominance in the industry was cemented by this acquisition, which gave it the most extensive portfolio and improved operating capabilities for applications in the semiconductor ecosystem and fab environment.
In May 2023, Fujifilm signed a final contract to pay USD 700 million, subject to usual modifications, to purchase Entegris' Electronic Chemicals division. The transaction is expected to close by the end of 2023, pending regulatory approvals and other customary closing requirements. One company that supplies the semiconductor industry with highly specialised chemicals is called Electronic Chemicals.
GLOBAL ELECTRONIC WET CHEMICALS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BASF SE
The Dow Chemical Company (now part of DOW Inc.)
Merck Group
Air Liquide S.A.
Linde Plc
Cabot Microelectronics Corporation
Fujifilm Holdings Corporation
Hitachi Chemical Co., Ltd. (Now part of Showa Denko K.K.)
JSR Corporation
Shin-Etsu Chemical Co., Ltd.
Avantor, Inc.
Others