South & Central America Electronic Chemicals Market Forecast to 2030 - Regional Analysis - by Product Type (CMP Slurries, Photoresist Chemicals, Wet Chemicals, Acids, and Others) and End Use (Semiconductors, Flat Panel Displays, Printed Circuit Boards, Ph

South & Central America Electronic Chemicals Market Forecast to 2030 - Regional Analysis - by Product Type (CMP Slurries, Photoresist Chemicals, Wet Chemicals, Acids, and Others) and End Use (Semiconductors, Flat Panel Displays, Printed Circuit Boards, Photovoltaics, and Others)

The South & Central America electronic chemicals market was valued at US$ 969.70 million in 2022 and is expected to reach US$ 1,381.79 million by 2030; it is estimated to register a CAGR of 4.5% from 2022 to 2030.

Emerging Applications in Renewable Energy Fuel South & Central America Electronic Chemicals Market

Electronics are essential components of solar photovoltaic (PV) systems. Monitoring systems with electronic sensors and communication modules enable real-time performance monitoring and remote management of solar photovoltaic systems. Power converters, pitch control systems, and grid-tie converters are used to convert variable wind energy into stable AC electricity. Electronic components such as sensors, actuators, and control algorithms optimize turbine performance. Moreover, electronic components are used in energy storage systems and smart grid technologies. Electronics are the major contributors to the electric vehicle charging infrastructure, which supports the adoption of renewable energy-powered electric vehicles. According to the International Energy Agency 2023 report, the renewable power capacity is expected to increase in the next five years, of which solar PV and wind energy accounted for 96% of power capacity, as their power generation costs are lower than fossil and non-fossil alternatives. Solar PV and wind energy capacity are forecast to double by 2028 compared to 2022.

Thus, the emerging applications of electronics in renewable energy is further expected to create lucrative opportunities for the electronic chemicals market.

South & Central America Electronic Chemicals Market Overview

According to the report by the Brazilian Association of Automotive Vehicle Manufacturers, the production of automobiles in Brazil grew by 11.4%, and the sales were boosted by 10.9% from February to March 2022. Major market players have strategized the development and expansion of their operational capacities in South & Central America to tap the lucrative automotive electronics industry. In 2022, Audi AG invested US$ 19.2 million to restart production at its plant in Parana, Brazil, registering a capacity of 4,000 vehicles per year. Prime factors driving the growth of passenger car sales are its pricing and credit availability. Several economies in the region are focused on the development of electric vehicle infrastructure. In February 2023, Argentina's Federal Energy Department issued a resolution designed to support the growth of the low-emission vehicle industry. According to the Association of Automotive Manufacturers, 7,846 units of vehicles powered by alternative energies were patented in 2022 in Argentina. Therefore, the growing demand for automotive electronics is expected to drive the demand for electronic chemicals.

South & Central America Electronic Chemicals Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Electronic Chemicals Market Segmentation

The South & Central America electronic chemicals market is segmented into product type, end use, and country.

Based on product type, the South & Central America electronic chemicals market is categorized into CMP slurries, photoresist chemicals, wet chemicals, acids, and others. The wet chemicals segment held the largest market share in 2022.

In terms of end use, the South & Central America electronic chemicals market is segmented into semiconductors, flat panel displays, printed circuit boards, photovoltaics, and others. The printed circuit boards segment held the largest market share in 2022.

By country, the South & Central America electronic chemicals market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America electronic chemicals market share in 2022.

FUJIFILM Holdings Corp, Hitachi High-Tech Corp, Solvay SA, BASF SE, Linde Plc, and Honeywell International Inc are some of the leading companies operating in the South & Central America electronic chemicals market.

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