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.
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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.
