The global sales of the Electronic Chemicals & Materials Market in 2021 was held at US$ 61.6 Billion. With a CAGR of 5.8%, the projected market growth during 2022 – 2032 is expected to be slightly higher than the historical growth.
This growth is mainly attributed to the rising adoption of electronic chemicals and materials across various industry verticals, due to their superior functional properties and low cost of availability. The thriving consumer electronics industry, especially in the emerging economies of Asia Pacific, is expected to be a major driver of market growth. The increased number of technological advancements and new product launches are also expected to support the growth of the electronic chemicals and materials market over the next decade.
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Key Takeaways from Market Study:
- Robust growth in the market is expected over the forecast period, primarily due to the increasing demand from consumer electronics, automotive, and medical industries.
- Electronic chemicals and materials including petrochemicals, chemical intermediates, commodity and specialty chemicals, and other materials such as glass, ceramics, and nanomaterials are used in the manufacturing of electronic components, electronic substrates, semiconductors, PCBs, and other electronic products.
- Adoption of advanced technologies such as 5G and Artificial Intelligence, as well as government initiatives to boost industrialization are some of the factors driving the demand for electronic chemicals and materials over the forecast period.
- Growing demand for flexible, durable, and lightweight consumer electronics is further creating opportunities for electronic chemicals and materials providers.
- Asia Pacific is expected to account for the largest share of the electronic chemicals and materials market due to the presence of major electronic product manufacturers in the region.
Electronic chemicals & materials Market Key Players:
• BASF SE
• The Dow Chemical Company
• DAIKIN Industries Ltd.
• Panasonic Corporation
• Solvay S.A.
• J.M. Huber Corporation
• Merck KGaA
• Nitto Denko Corporation
• Evonik Industries
The electronic chemicals and materials market is projected to experience strong growth in the coming years due to rising demand for electronic components in various end–use industries, such as automotive, aerospace, medical, consumer electronics, and military. Some of the key growth drivers for the electronic chemicals and materials market include increasing sales of electronic components, miniaturization of electronic components, increasing use of semiconductor materials, and technological advancements in materials science.
Electronic Chemicals & Materials Market Segmentation:
- By Product Type :
- Silicon Wafer
- Specialty Glass
- Wet Processing Chemicals
- PCB Laminates
- Other Types
- By Application :
- Semiconductors & ICs
- By Region :
- North America
- Latin America
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Questionnaire answered in the Market outlook Report of Electronic chemicals & materials include:
- What is the global market size of electronic chemicals & materials?
- What are the primary drivers of growth and challenges in the electronic chemicals & materials market?
- What is the market share of key vendors in the global electronic chemicals & materials market?
- What is the market share of different types of electronic chemicals & materials?
- What are the major sources of revenue for the vendors in the electronic chemicals & materials market?
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