Overview and Scope
The electronic wet chemicals produce high-purity chemicals that are used in cleaning and etching applications during semiconductor production and processing. Electronic wet chemicals are used in the production of products in a variety of industries, including consumer goods, automotive, aerospace and defense, and medicine.
Sizing and Forecast
The electronic wet chemicals market size has grown strongly in recent years. It will grow from <b>$3.91 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. </b> 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 <b>$5.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. </b> 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.
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Segmentation & Regional Insights
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
<b>Asia-Pacific</b> was the largest region in the electronic wet chemicals market in 2023 and is also expected to be the fastest-growing region in the electronic wet chemicals market during the forecast period. The regions covered in the electronic wet chemicals market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the electronic wet chemicals market market include <b> Avantor Inc., BASF SE, Cabot Microelectronics Corporation, Honeywell International Inc., Kanto Chemical Co. Inc., Eastman Chemical Company, Solvay S.A., Fujifilm Holdings Corporation, Technic Inc., Linde PLC, Air Products and Chemicals Inc., Mitsubishi Chemical Corporation, Daikin Electronic Devices Sdn. Bhd., T.N.C. Industrial Co. Ltd., Entegris Inc., Dow Inc., Sumitomo Chemical Co. Ltd., Songwon Industrial Co. Ltd., Merck KGaA, Shin-Etsu Chemical Co. Ltd., JSR Corporation, Tokyo Ohka Kogyo Co. Ltd., Adeka Corporation, Sumika Chemical Analysis Service Ltd., Nippon Kayaku Co. Ltd., JNC Corporation, Asahi Kasei Corporation, Mitsui Chemicals Inc., Showa Denko K.K., Hitachi Chemical Company Ltd., Nitto Denko Corporation </b>
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
Top Major Players:
Avantor Inc
BASF SE
Cabot Microelectronics
Honeywell International Inc.
Kanto Chemical Co.
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