Electronic Chemicals Market (6.12% CAGR) 2021-2030: Global Industry Size, Share, Growth, Analysis and Forecast

According to ChemAnalyst report, “Electronic Chemicals Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Electronic Chemicals market demand stood at 1.56 Million Tonnes in 2020 and is forecast to reach 2.78 Million Tonnes by 2030, growing at a healthy CAGR of 6.12% until 2030. Rapidly increasing demand for semiconductors and integrated circuits with booming PCB industry is expected to augment the demand for the Electronic Chemicals market, globally in upcoming years. The production of Electronic Chemicals is associated with safety concerns on human health as well as the environment before it can be further introduced in the market.

Electronic Chemicals are advanced chemicals that are present in various forms including solid, liquid, and gaseous.  These chemicals are used in the manufacturing of electronic components and products like semiconductors, Printed Circuit Board (PCB), chips, displays, and others. These electronic products are used in manufacturing of smartphone and computer, consequently, driving the growth of electronics industry and fueling the growth of electronic chemical market, globally.

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Based on the type, Electronic Chemicals can be divided into Ancillary Chemicals, CMP Slurries & Pads, Wet Deposition, and Gases. As Electronic gases are used in large volumes, they acquired the largest market share of the global Electronic Chemicals market in 2020 and the trend is predicted to be same for the next ten years as well. The common applications of Electronic gases include production of semiconductors and Integrated Circuits. A variety of gases and processes, such as include oxidation, deposition, etching, sputtering, and doping, are employed to produce integrated circuits. Out of these, Ancillary chemicals are used for processes like cleaning, etching, and photolithography of integrated circuits. While, CMP Slurries & Pads are used in small-size chips for multiple applications as they serve as a good smoothening agent. Wet Deposition chemicals are extensively used in copper electroplating, as it helps in preventing the base metal from corrosion and other factors. Few examples of Electronic chemicals include 2,4-Dimethylpyrrole as it helps in resist protective coating composition for microfabrication of semiconductor device, Benzothiophene-2-carboxylic acid and 5-Methoxy-2-nitroaniline widely used in the electronic industry and others.

In 2020, due to the outbreak of COVID-19, the global Electronic Chemicals market was negatively impacted during the pandemic. Due to government restrictions and nationwide lockdowns, industries temporarily halted their operation due to disruptions in the global supply chain. However, manufacturing of new models and different variants of smartphones as per geographical and changing customer buying behavior, are boosting the demand and thereby driving the Electronic Chemicals market across the globe.

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Region wise, Asia-Pacific region held  the largest share of global Electronic Chemicals market as the majority of semiconductor and PCB companies production units are present in countries like Japan, etc. South Korea is the main consumer of electronic chemicals followed by Asian countries Taiwan and Japan. Based on the demand, the US happens to be the largest consumer of electronic chemicals, and most semiconductors are exported to the Asian and European market. Due to the adoption of 5G in China, Europe, South Korea and other countries, the demand for semiconductors chips is rising, further emerging economies such as India are also planning to introduce 5G networks over the next 5 years thus accelerating the demand for semiconductors and PCB, further propelling the demand for electronic chemicals.

Major Players:

• Air Products and Chemicals, Inc.,
• Linde AG,
• JSR Corporation,
• Cabot Microelectronics Corporation,
• Hitachi Chemical Co. Ltd,
• Air Liquide SA,
• DIC Corporation,
• Dow DuPont,
• Albemarle Corporation,
• Solvay S.A.

 “Being linked to the downstream applications in automotive, Electronic devices and others, the Global Electronic Chemicals Industry has shown significant growth in previous years and is anticipated to grow at healthy CAGR during the forecast period. It is expected that India is going to become the world’s fifth biggest consumer across the globe in the upcoming years. In addition, growing per capita income in various countries poised a stronger outlook to the country’s Electronic Chemicals demand. The leading authorities’ restrictions due to the global crises affected the global supply chain logistics and caused shortage of key feedstock chemicals hence increased the prices of Electronic Chemicals. With new competitors emerging across the Asian Electronic Chemicals market, it is extremely important to keep a focus on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.