The global Electronic Materials and Chemicals Market size is expected to value at USD 81.05 billion by 2024. The market is subject to witness a substantial growth due to the growing demand from manufacturing sector for production of semiconductors, flat panel displays, and photolithographic printing. In addition, declining cost of electronic equipment and improved standards of living across the globe are expected to fuel the market growth of electronic materials and chemicals over the forecast period.
Massive demand for semiconductors materials in manufacturing of mobile phones, electronic chips and integrated circuits is anticipated to foster market growth in the upcoming years. Globally, the electronic materials and chemicals industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
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Substantial growth in electrical & electronics sector coupled with increase in industrial production are anticipated to fuel the growth of electronic materials & chemicals market over the forecast period. Rapid pace of macroeconomic cycles is a key for market expansion in the last decade. Increasing number of small & medium-sized enterprises SMEs in developing economies across Asia-Pacific and Latin America is playing crucial role for the success of electronic materials and chemicals industry since last couple of years. Recent technological advancement in the semiconductor industry is expected to offer lucrative growth avenues for industry players, in the recent years.
Growing manufacturing activities in the North America region is also leading to the increasing production of electrical & electronic appliances, thus driving market expansion in the last few years. Additionally, rising investment by prominent market players across the globe in capacity expansion as well as modernization of existing manufacturing facilities in order to generate excess of revenues and gain competitive edge over other organizations, are positively impacting market growth over the forecast period.
Some of the key raw materials that are required for production of the electronic materials & chemicals include silicon, copper, nickel, and specialty gasses. Semiconductor and integrated circuits is one of the largest end-user segment in the electronic materials & chemicals industry that holds massive market share. Printed circuit boards (PCB), which are important components of integrated chip technology and is adopted in various consumer electronic appliances.
The electronic materials and chemicals market is broadly categorized into five major segments based on the application type such as silicon wafers, PCB laminates, specialty gases, wet chemicals and solvents, and photoresists. The PCB laminates is considered as one of the fastest growing segment in the market of electronic materials and chemicals with substantial revenue generation in the last few years. Growing popularity of the PCB laminates segment is attributed to the increasing adoption for manufacturing of various electronic products such as amplifier and LEDs. The photoresist segment has also witnessed substantial growth owing to the growing importance towards patterned coating.
The electronic materials and chemicals industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in semiconductor industry, increase in the number of research & development activities in the region, and existence of well-established industrial infrastructure. Asia-Pacific region is predicted to hold major market share in the electronic materials & chemicals market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid industrialization, growing manufacturing sector, increasing disposable income, trade liberalization policies, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the electronic materials & chemicals industry are Air Products & Chemicals Inc., Ashland Inc., Air Liquide Holdings, Inc., BASF Electronic Chemicals SE, Honeywell International, Inc., Cabot Microelectronics Co., Linde Group Co., KMG Chemicals Inc., Fujifilm Electronic Materials, Inc., Kanto Chemical Co., Inc. and Tokyo Ohka Kogyo Co., Ltd.
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Electronic Materials & Chemicals Market Product Outlook (Revenue, USD Million, 2013 – 2024)
Electronic Materials & Chemicals Market Application Outlook (Revenue, USD Million, 2013 – 2024)
• Silicon wafers
• PCB Laminates
• Specialty gases
• Wet chemicals and solvents
Electronic Materials & Chemicals Market End-Use Outlook (Revenue, USD Million, 2013 – 2024)
• Semiconductors & Integrated Circuits
• Printed Circuit Boards
Electronic Materials & Chemicals Market Regional Outlook (Revenue, USD Million, 2013 – 2024)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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