The global electronic materials and chemicals market size is expected to reach USD 106.11 billion by 2030, expanding at a CAGR of 6.2% during the forecast period, as per the new report by Grand View Research, Inc. Electronic materials & chemicals are an essential part of the electronic device manufacturing process. Increasing technological advancements in manufacturing electronic products owing to rising consumer demand for high-tech goods are expected to propel the product demand over the forecast period.
Electronic Materials And Chemicals Market Report Highlights
- Based on product, the gaseous segment is likely to witness the fastest CAGR of 6.9% during the forecast period, owing to the rising application scope of the product in semiconductor and PCB manufacturing. Adoption of newer technologies for manufacturing electronic equipment such as atomic layer deposition (ALD) and chemical vapor deposition process on the chips are likely to open new avenues for growth over the next eight years
- Silicon wafer was the largest application segment, accounting for over 43% of the revenue share in 2022. The product is an essential part of semiconductors and integrated circuits. Furthermore, the rising demand for thin silicon wafers in manufacturing solar cells is expected to be a key factor driving the industry’s growth
- Semiconductor and integrated circuits was the major end-use segment, valued at over USD 44.86 billion in 2022. Growing demand for consumer products such as smartphones, computers, video recorders, and television sets is expected to boost the segment’s growth
- Asia Pacific dominated the electronic materials & chemicals industry in 2022, accounting for over 68% of the revenue share. Rapid industrialization coupled with increasing urbanization and rising spending consumer capacities in the region is likely to boost demand for consumer goods, which in turn is expected to drive the growth. Furthermore, increasing demand for smartphones, wearable electronics gadgets, and tablets especially among the young population is expected to be the key factor driving growth
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Electronic materials and chemicals play a crucial role in the modern world, as they are essential components in the production of electronic devices such as smartphones, computers, and televisions. These materials and chemicals include a range of substances, such as semiconductors, conductive polymers, and photovoltaic materials, that enable the conversion of electrical energy into other forms of energy, or vice versa. Additionally, these materials and chemicals can be used in the manufacturing of printed circuit boards and other electronic components, helping to increase the efficiency and functionality of electronic devices. As technology continues to advance, the demand for electronic materials and chemicals is likely to increase, driving further research and development in this field.
Latest Trends & Developments
The electronic materials and chemicals market is constantly evolving with new developments and innovations. One of the latest trends in this market is the growing demand for eco-friendly electronic materials and chemicals. Manufacturers are increasingly using materials that are non-toxic and have a lower environmental impact, which is driving the development of new and innovative products. For example, there is a growing demand for biodegradable electronic components and conductive inks made from sustainable materials such as cellulose nanocrystals. Another major development in the electronic materials and chemicals market is the rise of flexible electronics. These are electronic devices that can be bent, twisted, or folded, and are made using flexible substrates such as plastic. The development of new materials such as graphene, carbon nanotubes, and conductive polymers has enabled the creation of flexible electronic devices that are lightweight, durable, and can be produced at a low cost. These devices have numerous applications, including wearable electronics, smart textiles, and flexible displays. Industry is seeing rapid growth, driven by the increasing demand for electronic devices, the rise of the Internet of Things (IoT), and the adoption of renewable energy sources. As technology continues to advance, we can expect to see further developments in this field, with new materials and chemicals being developed to meet the changing needs of the electronics industry.
The consumer electronics segment is anticipated to drive market growth owing to significant demand from emerging economies including India, Indonesia, and Vietnam. China is the largest manufacturer of consumer electronics and is a major consumer of semiconductors and PCB. This trend is expected to continue over the forecast owing to the growing emergence of low-cost manufacturers in the country.
Rising R&D initiatives manufacturers employ to develop advanced electronic materials that provide superior performance are expected to be a key factor driving growth over the forecast period. Rising demand for electronic equipment with lower energy consumption is likely to boost demand for use of new electronic Electronics such as organic and compound semiconductors. R&D related to the synthesis of bio-based and biodegradable materials and chemicals for the electronics industry is expected to drive the market’s growth.
The industry is characterized by the presence of numerous players with a strong foothold in the market. Fluctuating raw material prices and high competition is expected to pose a challenge for the industry players. Manufacturers are likely to establish production plants in the Asia Pacific to capitalize on high demand, low labor cost, land availability, and abundant raw material availability in the region.
Electronic Materials And Chemicals Market Insights By Region
Asia Pacific dominated the market with a revenue share. The region is anticipated to continue its dominance over the forecast period. Rapid industrialization and the presence of numerous electronic device manufacturers in Asian countries including China, Taiwan, Japan, and South Korea are expected to positively impact the industry’s growth. Middle East & Africa is expected to be the third fastest growing region owing to the increasing adoption of new technologies coupled with the technology-savvy population in the countries such as UAE, Qatar, and Saudi Arabia. North America is a key player in specialty gases and is expected to grow in near future owing to the increasing demand for plasma display panels and photovoltaic products. However, the region is likely to face strong competition from Asian countries including China, Taiwan, and Japan. Europe is expected to witness substantial growth, owing to rising application across end-use industries such as electrical & electronics and automotive. The burgeoning production of hand-held gadgets is anticipated to bring about a surge in the manufacturing of electronic components, thereby propelling industry growth.
Competitive Analysis By Major Companies
The industry is highly competitive, owing to the presence of a large number of manufacturers and suppliers. It is growing rapidly and this has led many key players to adopt the mergers & acquisitions strategy to increase their presence and expand market share. The industry exhibits high integration across manufacturing stages to distribution channels of the value chain. The key industry participants have developed their own supply and distribution facilities to reach a wider customer base. The cost competitiveness of the manufacturers is expected to be the key criterion influencing buyers’ decisions. Some prominent players in the global electronic materials and chemicals market include:
- Air Products & Chemicals Inc.
- Bayer AG
- Albemarle Corporation
- Ashland Inc.
- BASF Electronic Chemicals
- Air Liquide Holdings Inc.
- AZ Electronic Materials Plc
- Honeywell International Inc.
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Grand View Research has segmented the global electronic materials and chemicals market based on product, application, end-use, and region:
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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