DUBLIN--(BUSINESS WIRE)--The "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 2024" report has been added to ResearchAndMarkets.com's offering.
The electronic chemicals and materials market size is projected to grow from USD 56.3 billion in 2019 to USD 81.6 billion by 2024, at a compound annual growth rate (CAGR) of 7.7% during the forecast period.
The leading players in the electronic chemicals and materials market are Linde plc (Ireland), Air Products and Chemicals (US), DowDuPont (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).
The increasing demand from microelectronic and chip manufacturing companies is expected to drive the market
The electronic chemicals and materials market is projected to reach USD 81.6 billion by 2024. The market is driven by the growth of the microelectronics industry, which is 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, which is made out of crystalline silicon and is a key component in the fabrication of integrated circuits and serves 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 materials. These semiconductor devices require proper maintenance for their functionality; hence, certain electronic chemicals and materials are used for cleaning, etching, polishing, doping, and servicing of 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 growth of the printed circuit board industry is directly associated with the development in telecommunications and IT, smart cards, electronic gaming, and consumer goods applications.
- Technological Advancements in the Electronics Industry
- Stringent Health and Environmental Regulations Regarding Certain Chemicals & Materials
- Improved IT Infrastructure and Upcoming Technologies Such as AI & IoT
- A Rapid Decline in the Use of Old Technologies
- Linde PLC
- Air Products & Chemicals
- Cabot Microelectronics
- BASF AG
- Hitachi Chemical
- Air Liquide
- Shin-Etsu Chemical Co. Ltd.
Other Prominent Players
- Honshu Chemical Industry Ltd.
- Mitsui Chemicals America Inc.
- Siltronic AG Atlas Copco
- Lord AG
- Freiberger Compound Materials
- Okmetic Oy
- Globalwafers Co. Ltd.
- Sumco Corp.
For more information about this report visit https://www.researchandmarkets.com/r/1g237