Electronic Materials And Chemicals Market Size, Share & Trends Analysis Report By Product (Solid, Liquid, Gaseous), By Application (Silicon Wafers, PCB Laminates), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Electronic Materials And Chemicals Market Size, Share & Trends Analysis Report By Product (Solid, Liquid, Gaseous), By Application (Silicon Wafers, PCB Laminates), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Electronic Materials And Chemicals Market Growth & Trends

The global electronic materials and chemicals market size is expected to reach USD 106.11 billion by 2030, expanding at a CAGR of 6.2% during the forecast period, as per the new report by Grand View Research, Inc. Electronic materials & chemicals are an essential part of the electronic device manufacturing process. Increasing technological advancements in manufacturing electronic products owing to rising consumer demand for high-tech goods are expected to propel the product demand over the forecast period.

The consumer electronics segment is anticipated to drive market growth owing to significant demand from emerging economies including India, Indonesia, and Vietnam. China is the largest manufacturer of consumer electronics and is a major consumer of semiconductors and PCB. This trend is expected to continue over the forecast owing to the growing emergence of low-cost manufacturers in the country.

Rising R&D initiatives employed by manufacturers to develop advanced electronic materials which provide superior performance is expected to be a key factor driving growth over the forecast period. Rising demand for electronic equipment with lower energy consumption is likely to boost demand for use of new electronic Electronics such as organic and compound semiconductors. R&D related to the synthesis of bio-based and biodegradable materials and chemicals for the electronics industry is expected to drive the market’s growth.

The industry is characterized by the presence of numerous players with a strong foothold in the market. Fluctuating raw material prices and high competition is expected to pose a challenge for the industry players. Manufacturers are likely to establish production plants in the Asia Pacific to capitalize on high demand, low labor cost, land availability, and abundant raw material availability in the region.

Electronic Materials And Chemicals Market Report Highlights

• Based on product, the gaseous segment is likely to witness the fastest CAGR of 6.9% during the forecast period, owing to the rising application scope of the product in semiconductor and PCB manufacturing. Adoption of newer technologies for manufacturing electronic equipment such as atomic layer deposition (ALD) and chemical vapor deposition process on the chips are likely to open new avenues for growth over the next eight years
• Silicon wafer was the largest application segment, accounting for over 43% of the revenue share in 2022. The product is an essential part of semiconductors and integrated circuits. Furthermore, the rising demand for thin silicon wafers in manufacturing solar cells is expected to be a key factor driving the industry’s growth
• Semiconductor and integrated circuits was the major end-use segment, valued at over USD 44.86 billion in 2022. Growing demand for consumer products such as smartphones, computers, video recorders, and television sets is expected to boost the segment’s growth
• Asia Pacific dominated the electronic materials & chemicals industry in 2022, accounting for over 68% of the revenue share. Rapid industrialization coupled with increasing urbanization and rising spending consumer capacities in the region is likely to boost demand for consumer goods, which in turn is expected to drive the growth. Furthermore, increasing demand for smartphones, wearable electronics gadgets, and tablets especially among the young population is expected to be the key factor driving growth
• Key industry players include Air Products & Chemicals Inc.; Ashland Inc.; Air Liquide Holdings Inc.; BASF Electronic Chemicals; Honeywell International Inc.; Cabot Microelectronics Corporation; Linde Group; KMG Chemicals Inc.; Fujifilm Electronic Materials; Kanto Chemical Co.; Inc. and Tokyo Ohka Kogyo Co., Ltd.

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