The electronic chemicals and materials market size is projected to grow from USD 58.8 billion in 2020 to USD 81.7 billion by 2025, at a compound annual growth rate (CAGR) of 6.8% during the forecast period. The market is driven by the growth of the microelectronics industry, characterized by the emergence of new technologies.
The silicon wafers segment is projected to register the highest CAGR during the forecast period. Silicon wafers are a thin slice of semiconductor made out of crystalline silicon and a key component in the fabrication of integrated circuits and serve as a substrate for microelectronics devices. The primary use of silicon wafer is in integrated circuits, which are the basic building block of any electronic devices, such as computers and smartphones.
Semiconductor application segment is expected to hold the larger market share during the forecast period. A semiconductor is a solid chemical compound or element, which can conduct electricity under certain conditions depending upon the dopants added during the manufacturing process.Integrated circuits and printed circuit boards are the basic building blocks of any semiconductor material.
These semiconductor devices require proper maintenance for their functionality; hence, certain electronic chemicals and materials are used to clean, etching, polishing, doping, and servicing semiconductors.
APAC is estimated to be the fastest-growing electronic chemicals and materials market during the forecast period. APAC is estimated to be the fastest-growing electronic chemicals and materials market during the forecast period due to the rapid growth of the global electronics industry, which has driven the demand for printed circuit boards in the region. The printed circuit board industry’s growth is directly associated with the development in telecommunications and IT, smart cards, electronic gaming, and consumer goods applications. 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 – 55%, Tier 2 – 30%, and Tier 3 – 15% • By Designation - C level – 42%, Director Level – 30%, and Others – 28% • By Region - APAC– 40%, Europe – 28%, North America – 25%, Rest of World – 7%
The leading players in the electronic chemicals and materials market are Linde plc (Ireland), Air Products (US), Cabot Microelectronics (US), BASF AG (Germany), Hitachi Chemical (Japan), Air Liquide (France), Solvay A.G. (Belgium), Shin-Etsu (Japan), Covestro (France), and Songwon (South Korea).
Research Coverage: This research report categorizes the electronic chemicals and materials market based on type, application, and region.The report includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the market’s growth.
A detailed analysis of the key industry players has been done to provide insights into business overviews and recent developments associated with the market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market in the following ways: 1. This report segments the electronic chemicals and materials market comprehensively and provides the closest approximations of market sizes for the overall market and sub-segments across verticals and regions.
2. The report will help stakeholders understand the market’s pulse and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes developments such as new product launches.
4. The report includes COVID-19 impact on the electronic chemicals and materials market.
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