Electronic chemicals are highly engineered specialty chemicals used in manufacturing and production of microchips and other electronic components. Electronic chemicals help deliver reliable chip performance by enabling precision manufacturing and coating processes. With increasing miniaturization of electronic devices and growing demand for AI technologies, the need for advanced specialty electronic chemicals is growing rapidly.
The global Electronic Chemicals Market is estimated to be valued at US$ 67.92 Bn or Billion in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Electronic chemicals comprise various acids, alkalis, solvents, dopants and other specialty gases used during semiconductor wafer processing, printed circuit board fabrication and packaging of Integrated circuits. Key application areas include etching, cleaning, deposition and encapsulation. Specialty chemicals ensure defect-free production of smaller and more powerful electronic components.
Market key trends:
One of the key trends driving the electronic chemicals market is growing demand for Artificial Intelligence chips from data centers and consumer electronics. Advanced AI applications such as machine learning and predictive analytics require specialized high-performance chips with very small structures and multiple material layers. This is fueling the need for precise deposition, planarization and etching chemicals during chip manufacturing. Companies are investing heavily in developing electronic-grade chemicals tailored for next-generation AI technologies to gain market share.
The electronic chemicals market is segmented into specialty gases, metal organics, photoresists, wet chemicals, CMP slurries, and others. The CMP slurries segment held the largest market share in 2022. CMP slurries play a critical role in the manufacturing of semiconductors and integrated circuits as they help planarize and polish the wafer surfaces. The growing demand for logic and memory chips from consumer electronics such as smartphones and computers is boosting the CMP slurries segment.
The global Electronic Chemicals market is expected to witness high growth, exhibiting a CAGR of 6.4% over the forecast period, due to increasing demand for consumer electronics.
Regional analysis: Asia Pacific dominated the electronic chemicals market in 2022 and is projected to continue its dominance during the forecast period. Rapid economic development along with rising living standards are boosting the sales of consumer electronics in countries such as China, India, South Korea, and Japan, which is driving the demand for electronic chemicals in the region.
Market size: The global electronic chemicals market size was valued at US$ 67.92 billion in 2023 and is projected to reach US$ 98.29 billion by 2030, growing at a CAGR of 6.4% from 2023 to 2030.
Key players: Key players operating in the electronic chemicals market are BASF SE, Air Products and Chemicals Inc., The Dow Chemical Company, Merck KGaA, SUMCO Corporation, JSR Corporation, Shin-Etsu Chemical Co., Ltd., Cabot Microelectronics Corporation, Tokyo Ohka Kogyo Co., Ltd., and Honeywell International Inc. BASF SE and The Dow Chemical Company lead the market with their wide product portfolios and strong global presence.
- Source: Coherent Market Insights, Public sources, Desk research
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