New York, USA, Nov. 08, 2022 (GLOBE NEWSWIRE) -- As per the newly published report by Research Dive, the global electronic chemicals market is anticipated to grow at a stunning CAGR of 6.3%, thereby garnering a revenue of $35,866.5 million in the 2019-2026 timeframe. This comprehensive report provides a brief outlook of the current framework of the electronic chemicals market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2019-2026. All the necessary and essential market figures are also provided in this report to help new entrants analyze the market easily.
Dynamics of the Market
Drivers: Increasing demand for electronic chemicals from manufacturing sector is predicted to be the primary growth driver of the electronic chemicals market in the forecast period. Additionally, since the last decade or so, there has been a growing use of electronic chemicals in automotive and aerospace industry which is expected to push the market forward.
Opportunities: Growth in usage of electronic chemicals in agriculture and textile manufacturing industry is anticipated to offer numerous growth opportunities to the market in the forecast period. Along with this, surge in demand for electronic chemicals to manufacture semiconductors, flat panel displays, etc. is expected to help the market grow in the forecast period.
Restraints: Increase in product deployment, however, might prove to be a hindrance in the growth trajectory of the electronic chemicals market.
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Segments of the Market
The report has divided the electronic chemicals market into certain segments based on product type, application, and region.
Product Type: Wet Chemicals & Solvent Sub-segment to Have the Highest Growth Rate
By product type, wet chemicals & solvent sub-segment is expected to have the highest CAGR of 6.6% during the forecast period. Growing analysis of liquid phase chemical materials using analytical chemical methods is expected to help in the growth of this sub-segment.
Application: Printed Circuit Board Sub-segment to Have the Fastest Growth
By application, printed circuit board sub-segment is expected to grow with the fastest rate and grow with a CAGR of 7.2% by 2026. Increasing use of printed circuit boards in manufacturing of LEDs, consumer electronics, etc. is predicted to propel the growth of this sub-segment in this forecast period.
Region: Market in North America Region to be the Most Lucrative
By regional analysis, the electronic chemicals market in the North America region is anticipated to be the most profitable and grow with a CAGR of 5.9% by 2026. Growth in the number of electronic chemicals manufacturing companies in the region anticipated to be the main growth driver of the market.
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Prominent Market Players
Some of the key players in the electronic chemicals market are
- BASF SE
- Hitachi Chemical Co. Ltd
- Wacker Chemie AG
- MacDermid, Inc
- Air Liquide SA
- Honeywell International, Inc.
- Merck KGaA
- Solvay S. A.
- Sumitomo Chemical Co. Ltd
These key players are devising new technologies and smart innovations to gain a prominent position in the global market.
For instance, in July 2021, Dupont, a leading chemical manufacturing company, announced the acquisition of Laird Performance Materials, a leading thermal interface materials provider. This acquisition is predicted to help Dupont to increase its foothold in the market substantially in the coming period.
Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, product portfolio, and financial performance of the key players.
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More about Electronic Chemicals Market:
- Electronic Chemicals: Different Types and the Current Market Scenario Due to COVID-19 Outbreak
- Rising Demand for Applications That Make Use of Electronic Chemicals to Surge the Market Growth
