The electronic wet chemicals global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electronic Wet Chemicals Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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.
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Scope Of Electronic Wet Chemicals Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electronic Wet Chemicals Market Overview
Market Drivers –
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.
Market Trends –
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 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
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Regional Insights –
Asia-Pacific 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.
Key Companies –
Major companies operating in the electronic wet chemicals market market include 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
Table of Contents
1. Executive Summary
2. Electronic Wet Chemicals Market Report Structure
3. Electronic Wet Chemicals Market Trends And Strategies
4. Electronic Wet Chemicals Market – Macro Economic Scenario
5. Electronic Wet Chemicals Market Size And Growth
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27. Electronic Wet Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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