Electronic Chemicals and Materials Market by Type (Specialty Gases, CMP Slurries, Conductive Polymers, Photoresist Chemicals, Low K Dielectrics, Wet Chemicals, Silicon Wafers, PCB Laminates), Application, and Region - Global Forecast to 2028

Electronic Chemicals and Materials Market by Type (Specialty Gases, CMP Slurries, Conductive Polymers, Photoresist Chemicals, Low K Dielectrics, Wet Chemicals, Silicon Wafers, PCB Laminates), Application, and Region - Global Forecast to 2028

The electronic chemicals and materials market size is projected to grow from USD 59.1 billion in 2023 and is projected to reach USD 77.8 Billion by 2028, at a CAGR of 5.6%. Several factors are driving this growth, including the increasing demand for consumer electronics, growth in the semiconductor industry, and advancements in electronic devices requiring specialized materials. Additionally, the proliferation of 5G technology and the Internet of Things (IoT) are expected to further boost market growth as these technologies require sophisticated electronic components and materials.

“The silicon wafers segment is projected to register the highest CAGR during the forecast period.”

The projected growth of the silicon wafers segment in the electronic chemicals and materials market is indicative of the expanding demand for semiconductors and electronic devices worldwide. Silicon wafers serve as the fundamental substrate for manufacturing integrated circuits (ICs) and other semiconductor devices essential for various electronic applications, including smartphones, computers, automotive electronics, and industrial automation systems. The increasing adoption of advanced technologies such as 5G, Internet of Things (IoT), artificial intelligence (AI), and augmented reality (AR) is driving the need for more powerful and efficient semiconductor components. Consequently, there is a growing requirement for high-quality silicon wafers with enhanced specifications, such as larger diameters, higher purity levels, and improved uniformity, to meet the performance demands of next-generation electronic devices. Moreover, the proliferation of emerging trends like electric vehicles (EVs) and renewable energy systems further contributes to the surge in demand for silicon wafers, as these technologies heavily rely on semiconductor-based components for their operation. Additionally, ongoing advancements in semiconductor manufacturing processes, such as the transition to advanced node technologies like 7nm and below, are fueling the demand for specialized electronic chemicals and materials used in the fabrication of silicon wafers. Overall, the projected high compound annual growth rate (CAGR) of the silicon wafers segment underscores its pivotal role in driving innovation and progress within the electronics industry, laying the foundation for the development of cutting-edge electronic devices and technologies.

“Semiconductor application segment is expected to hold the larger market share during the forecast period.”

The semiconductor application segment is projected to dominate the electronic chemicals and materials market during the forecast period due to several key factors. Firstly, the increasing demand for semiconductors in various electronic devices such as smartphones, laptops, and tablets is driving the growth of this segment. As these devices become more advanced and sophisticated, the need for high-performance semiconductors and advanced electronic materials also increases. The growing trend of miniaturization in the electronics industry is further fueling the demand for electronic chemicals and materials used in semiconductor manufacturing. Miniaturization requires the use of advanced materials that can enable the production of smaller, more powerful, and energy-efficient electronic components. Additionally, the emergence of new technologies such as 5G, IoT, and AI is expected to drive significant growth in the semiconductor industry, leading to increased demand for electronic chemicals and materials. These technologies require high-performance semiconductors that can meet the demanding requirements of these applications.

Overall, the semiconductor application segment is expected to hold the larger market share during the forecast period due to the increasing demand for semiconductors in various electronic devices, the trend of miniaturization in the electronics industry, the emergence of new technologies, and the growing investment in research and development activities.

“Asia Pacific projected as the fastest growing electronic chemicals and materials market during the forecast period.”

The Asia Pacific (APAC) region emerged as the powerhouse driving the electronic chemicals and materials market, outpacing other regions in growth. This surge can be attributed to the exponential expansion of the global electronics industry within the APAC territory. Countries like China, Japan, South Korea, and Taiwan have cemented their positions as leaders in electronics manufacturing, fueling demand for electronic chemicals and materials. The region's robust infrastructure, skilled labor force, and favorable government policies have created an environment conducive to innovation and production efficiency in the electronics sector. Moreover, the increasing adoption of advanced technologies such as 5G, Internet of Things (IoT), and artificial intelligence (AI) has further accelerated the demand for electronic components and devices, driving the need for specialized chemicals and materials. With its dynamic market landscape and strategic positioning in the global supply chain, the APAC region continues to be a focal point for electronic chemicals and materials suppliers, presenting lucrative opportunities for growth and investment in the foreseeable future.

Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments and the information gathered through secondary research.

The breakup of primary interviews is given below:

By Company Type - Tier 1 – 30%, Tier 2 – 50%, and Tier 3 – 20%

By Designation - C level – 40%, Director Level – 20%, and Others – 40%

By Region - North America – 40%, Europe – 30%, APAC – 10%, Middle East & Africa – 10%, and South America – 10%

Companies Covered: Shin-Etsu Chemical Co., Ltd. (Japan), Linde Plc (England), Fujifilm Corporation (Japan), Resonac Holding Corporation (Japan), Air Liquide (Paris), Solvay (Belgium), BASF SE(Germany), Mitsui Chemicals America, Inc. (US), Merck KGaA (Germany), Covestro AG (Germany), SUMCO Corp. (Japan), Air Products & Chemicals, Inc. (US), Songwon (South Korea) and others are covered in the electronic chemicals and materials market.

Research Coverage

The market study covers the electronic chemicals and materials market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the electronic chemicals and materials market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall electronic chemicals and materials market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Growth in the semiconductor industry will augment the demand of electronic chemical and material, The growth in renewable energy sector creates demand for photovoltaic cells.), restraints (Stringent health and environmental regulations regarding), opportunities (Improved IT infrastructure and upcoming technologies and Increasing demand for consumer goods) influencing the growth of the electronic chemicals and materials market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the electronic chemicals and materials market

Market Development: Comprehensive information about lucrative markets – the report analyses the electronic chemicals and materials market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electronic chemicals and materials market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Shin-Etsu Chemical Co., Ltd. (Japan), Linde Plc (England), Fujifilm Corporation (Japan), Resonac Holding Corporation (Japan), Air Liquide (Paris), Solvay (Belgium), BASF SE(Germany), Mitsui Chemicals America, Inc. (US), Merck KGaA (Germany), Covestro AG (Germany), SUMCO Corp. (Japan), Air Products & Chemicals, Inc. (US), and Songwon (South Korea) are the top manufacturers covered in the electronic chemicals and materials market, and among others in the electronic chemicals and materials market. The report also helps stakeholders understand the pulse of the electronic chemicals and materials market and provides them with information on key market drivers, restraints, challenges, and opportunities.