Rockville, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The growth of market for Silicon Wafer is projected to expand at a CAGR of around 6.6% during 2022 – 2032. The increased demand for electronic devices such as mobile phones, laptops, personal computers, and air conditioners across the globe is a result of silicon wafer growth.
As a result of silicon wafers being utilized in the manufacture of electronic devices more frequently, the market for Electronic Chemicals & Materials will expand. Silicon wafers, which are widely used as an underlayer in microelectronic devices, are used in the production of integrated circuits. They serve as the foundation for all other electronic devices, including laptops and phones. Additional options include solar energy and tire pressure monitoring systems.. The key revenue drivers which affected the market are an increase in demand for chips and semiconductors and the surge in demand for the Internet of Things.
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Key Takeaways from the Study
- Electronic Chemicals & Materials Market was valued at US$ 61.6 Bn in 2021. According to Fact.MR, Electronic Chemicals & Materials Market revenue would increase 1.7X between 2022 and 2032, reaching roughly US$ 112.5 Bn in 2032.
- In terms of Product type, Silicon Wafer is projected to account for the highest projected CAGR of over 6.6%.
- In terms of Application, Semiconductors and ICs accounted for the highest CAGR of 4.9% during 2017-21.
- China is the dominant country in terms of demand for the Electronic Chemicals & Materials Market with a projected growth of 6.5%.
Competitive Landscape
Some of the recent developments of key Electronic Chemicals & Materials providers are as follows:
- In April 2021, Cabot Microelectronics Corporation purchased International Test Solution to expand its electronic materials, business division. This will allow the company to address issues that its clients in the semiconductor industry are facing.
- In July 2020, to supply industrial gases with extremely high purity to its electronics customers in Taiwan, Linde plc started a new air separation facility and the world's first nitrogen generator. The initiative will support the expansion of silicon wafer production at Taiwan's Tainan Science Park.
- In July 2019, in Munster, BASF Electronic Chemicals opened a new facility for functionalizing foils. These foils from damaging environmental stress shield thin-film photovoltaics. Thin-film batteries and OLED screens are two further use for foil.
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Key Players
- BASF Electronic Chemicals
- Air Products & Chemicals Inc.
- Albemarle Corporation
- Bayer AG
- Honeywell International Inc.
- Linde plc
- Showa Denko Materials Co., Ltd.
- DuPont de Nemours, Inc.
- Shin-Etsu Chemical Co. Ltd.
- Cabot Microelectronics Corporation
- Solvay S.A.
- Covestro AG
- Global Wafers
Impact of Covid-19 on Electronic Chemicals & Materials Market
Due to Covid-19, key economies including China, India, Germany, and the United States implemented restrictions, disrupting the supply chain for companies that make electronic chemicals and materials. According to Independent Chemical Information Services, there was a 15-20% decline in electronic chemical products due to logistic and supply chain disruption. Since there was less demand from the end customer, many businesses stopped operating. Additionally, because of shipping restrictions on non-essential items, there was a decrease in demand for electronic goods, which had an impact on the overall electronics industry.
China is the world's leading producer and exporter of electronic goods' raw materials. During the pandemic, the country had to stop production. It caused a gap in the supply and demand for electronic goods by compelling other electronic manufacturers, primarily those from the United States and Europe to temporarily halt the production of finished goods. On the other hand, demand for certain electronic devices such as tablets, phones, laptops, tablets, and other gadgets increased by the middle of 2020, owing mostly to the widespread adoption of teleworking systems. These factors impacted the demand for electronic chemicals and materials dearly.
Electronic Chemicals & Materials Market Segmentation
- By Product Type:
- Silicon Wafer
- Photoresist
- Specialty Glass
- Wet Processing Chemicals
- PCB Laminates
- Other Types
- By Application:
- Semiconductors & ICs
- PCB
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Electronic Chemicals & Materials Market Report
- What is the projected value of the Electronic Chemicals & Materials Market in 2023?
- At what rate will the global Electronic Chemicals & Materials Market grow until 2033?
- Which are the factors hampering the growth in the Electronic Chemicals & Materials Market?
- Which region is expected to lead in the global Electronic Chemicals & Materials Market during 2023 to 2033?
- Which are the factors driving the Electronic Chemicals & Materials Market during the forecast period?
- What is the expected market value of the Electronic Chemicals & Materials Market during the forecast period?
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Electronic Chemicals & Materials Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Electronic Chemicals & Materials Market in terms of Product Type (Silicon Wafer, Photoresist, Specialty Glass, Wet Processing Chemicals, PCB Laminates, Other Types), Application (Semiconductors & ICs, PCB) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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