LONDON--(BUSINESS WIRE)--According to the latest market research report by Technavio, the global electronic chemicals and materials market is expected to reach close to USD 29 billion in revenue by 2020.
In this report, Technavio covers the present scenario and growth prospects of the Global Electronic Chemicals and Materials for 2016-2020. To calculate the market size, Technavio researchers have considered revenues garnered from sales of new units in leading geographies, including APAC, North America, Europe, and ROW.
“The cost of production of electronic devices is decreasing, and thereby increasing the adoption of newer devices. recent advances in technology and the enhancements of existing equipment used in the production of chemicals and materials have further increased the quality and performance of consumer electronics over the years,” said Chandrakumar Badala Jaganathan, one of Technavio’s lead industry analysts for specialty chemicals research.
“Vendors in the market are therefore focusing on developing strategies that meet the growing demand for advanced electronics. For instance, JSR increased share in the photoresist market on its latest ArF technologies and Shin-Etsu entered the Deep ultraviolet photoresists manufacturing market. Thanks to these developments, flat panel displays such as LCD, LED, and plasma displays are finding aggressive adoption. The manufacturing and processing of these displays require different chemicals and materials,” added Chandrakumar.
Global electronic chemicals and materials by geography 2020
- APAC 67.07%
- North America 12.54%
- Europe 10.54%
- ROW 9.85%
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Electronic chemicals and materials market in APAC: largest market
The electronic chemicals and materials market in APAC was valued at USD 15.52 billion in 2015. Japan remained the key market for electronic chemicals and materials in 2015. The electronics industry in Japan is the largest consumer of electronic chemicals and materials.
The production of electronic devices in China is rising rapidly and is expected to be a prime driver for the global electronic chemicals and materials market. Although, production in Japan declined after the March 2011 earthquake and tsunami, it is expected to recover in the coming years, and boost the demand for electronic chemicals and materials.
Southeast Asia generated a revenue of close to USD 298 billion in exports of electronics and electrical equipment in 2015. It is also the largest export segment for other countries, including Malaysia, Singapore, Philippines, and Vietnam. This trend is likely to persist and sustain the growth of this market.
Electronic chemicals and materials market in North America: second largest region
The electronic chemicals and materials market in North America was valued at USD 2.73 billion in 2015. Several technological processes like chip miniaturization and mobile device proliferation have been driving the need for electronic chemicals and materials in North America. In addition, an increase in the demand for electronic devices and mobile devices will likely continue to boost the demand for electronic chemicals and materials in North America to enhance production capacities. Many products such as photoresists and k-dielectrics are gaining popularity in this market. Significant expenditures are being made to optimize the efficiency of electronic chips and ICs.
It is anticipated to significantly reduce the costs incurred during the manufacture of electronic devices and semiconductors. In 2015, Air Products and Chemicals spent close to 138.8 million on its R&D, and DOW Chemical spent more than USD 1.6 billion during the same period. This trend will likely fuel the demand for electronic chemicals and materials over the next four years.
Data center colocation market in APAC
The electronic chemicals and materials market in Europe was valued at close to USD 2.28 billion in 2015. Germany is one of the prime contributors to the growth of the semiconductor industry in Europe and ranks among the top five locations worldwide. Microelectronics in Germany has been one of the fastest growing industry sectors. The country has many world-leading suppliers for materials and device manufacturers.
Investment opportunities have been arising recently, in terms of design and manufacturing as well as its use in different applications. German semiconductor industry accounted for a revenue share of close to USD 13.8 million in 2015. The automotive and industrial semiconductors segments are anticipated to exhibit the strongest growth rates in the region during the forecast period.
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