Categories: Energy & Power

Electronic Wet Chemicals Market 2023 – Market Brief Analysis, Market Size, Top Leading Companies, Segmentation | Avantor Inc., BASF SE, Cabot Microelectronics Corporation, Honeywell International Inc., Kanto Chemical Co. Inc.

The Electronic Wet Chemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Electronic Wet Chemicals Global Market Report 2024, The electronic wet chemicals market size has grown strongly in recent years. It will grow from $3.91 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to semiconductor industry growth, investment in research and development, improved it infrastructure, rise in automotive sector, rise in disposable income.

The electronic wet chemicals market size is expected to see strong growth in the next few years. It will grow to $5.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to expanding demand for consumer electronics, growing industrial automation, emerging market, rise in urbanization. Major trends in the forecast period include environmental friendly wet chemical formulations, miniaturization and advanced packaging, smart manufacturing and iot integration, flexible electronics, materials data analytics.

The increasing demand for electric vehicles is expected to propel the growth of the electronic wet chemicals market going forward. An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or autonomously by a battery. Electronic wet chemicals are used in the manufacturing of EVs in various ways, including the wet process of battery manufacturing, lubrication of electric motors, cleaning and etching of semiconductor components, and recycling of semiconductors and e-waste. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, increasing by 4%. Sales nearly doubled to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing demand for electric vehicles is driving the growth of the electronic wet chemicals market.

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The electronic wet chemicals market market covered in this report is segmented –
1) By Type: Acetic Acid (CH3OOH), Isopropyl Alcohol (IPA) (C3H8O), Hydrogen Peroxide (H2), Hydrochloric Acid (HCL), Ammonium Hydroxide (NH4OH), Hydrofluoric Acid (HF), Nitric Acid (HNO3), Phosphoric Acid (H3PO4), Sulfuric Acid (H2SO4)
2) By Form: Liquid, Solid, Gas
3) By Application: Semiconductor, Etching, Cleaning
4) By End-Use Industry: Consumer Goods, Automotive, Aerospace and Defense, Medical

Top Major Players

Avantor Inc.

BASF SE

Cabot Microelectronics Corporation

Honeywell International Inc.

Kanto Chemical Co. Inc.

Major companies operating in the electronic wet chemicals market are focused on introducing complementary green solvents, such as AZ 910 Remover, to gain a competitive edge in the market. Green solvents, a subset of electronic wet chemicals, can be used in photolithographic processes to replace or supplement traditional chemicals, with the aim of reducing the environmental impact of semiconductor manufacturing. For instance, in July 2021, Merck & Co. Inc., a US-based pharmaceutical company, launched AZ 910 Remover, a new line of complementary green solvents for use in photolithographic processes in semiconductor manufacturing. It is a new collection of developed, NMP-free (N-methylpyrrolidone) based chemistries intended for a more rapid and economic breakdown of photoresist patterns. The portfolio’s superior environmental impact, ease of use in a wide range of equipment, and good resist-dissolution performance are having a significant impact on the semiconductor wet chemical market. By stripping the resist with less than three times the solvent volume, AZ 910 Remover can save clients money and lessen the environmental impact of the materials that are dumped into the world’s waste stream. These complementary green solvents are a subset of electronic wet chemicals that are chosen for their environmental and health-friendly characteristics.

The electronic wet chemicals market report table of contents includes:

1. Executive Summary

2. Electronic Wet Chemicals Market Characteristics

3. Electronic Wet Chemicals Market Trends And Strategies

4. Electronic Wet Chemicals Market – Macro Economic Scenario

5. Global Electronic Wet Chemicals Market Size and Growth

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31. Global Electronic Wet Chemicals Market Competitive Benchmarking

32. Global Electronic Wet Chemicals Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Electronic Wet Chemicals Market

34. Electronic Wet Chemicals Market Future Outlook and Potential Analysis

35. Appendix