With the emergence and long-term Impact of COVID-19, the Global Electronic Wet Chemicals Market is to reach USD 6.17 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Electronic Wet Chemicals Market is poised to raise up to USD 6.17 Billion by 2030. Electronic Wet Chemicals are specialized chemical substances integral to the manufacturing of electronic components, particularly in the semiconductor industry. These chemicals serve essential functions such as cleaning silicon wafers, defining patterns in photolithography, etching semiconductor surfaces, and depositing thin metal layers. They play a crucial role in ensuring the cleanliness, precision, and functionality of electronic devices by removing impurities, creating intricate circuitry, and facilitating the overall manufacturing process.
The surge in the production of electronic devices, coupled with the high focus on constant product innovation, the growing trend of miniaturization of electronic components, rapid proliferation of consumer electronics are the most prominent factors that are propelling the electronic wet chemicals market demand across the world. In addition, the flourishing development of the semiconductor industry is directly associated with the demand for the electronic wet chemicals, which, in turn, accelerates the market growth globally. Specialized wet chemicals are fundamental to the intricate fabrication processes of semiconductors, which serve as the foundation of modern electronics. These chemicals are essential for critical stages such as wafer cleaning, photolithography, and metallization.
According to Statista, in 2021, it was estimated that the semiconductor industry accounted for USD 117.2 billion in the Americas, USD 47.7 billion in Europe, USD 43 billion in Japan, USD 188.4 in China, and USD 147.8 billion in the Americas. Also, in 2022, China dominated the semiconductor industry, accounting for the largest share of sales at USD 185.5 billion. Meanwhile, the Asia Pacific region, excluding China, registered USD 153.1 billion in semiconductor sales, and the Americas contributed USD 142.7 billion to semiconductor sales during the same year. The continuous growth of the semiconductor industry, propelled by emerging technologies such as 5G, IoT, and AI, stands as a key catalyst for the Electronic Wet Chemicals Market.
These chemicals play a pivotal role in enabling and optimizing various essential processes in the semiconductor fabrication field. Moreover, the rise in technological advancements in the electronics industry, as well as the growing usage of PCB in the telecommunication industry presents various lucrative opportunities over the forecast years. However, the stringent health and environmental regulations on the use of certain chemicals and the growing concern over waste management for semiconductors are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Electronic Wet Chemicals Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the China and ASEAN countries being major contributors to semiconductor production. Additionally, there is a significant surge in demand for electronics, along with the expansion of the printed circuit board industry is closely tied to advancements in telecommunications, IT, smart cards, electronic gaming, and consumer electronics (such as digital cameras, mobile phones, and personal computers). Consequentially, these factors contribute to the overall growth of the market during the estimated period of 2023-2030.
Whereas, North America is expected to grow with a significant CAGR over the forecast years. The rising technological advancements in electronics, rising focus on automation and efficiency, along ongoing investments in research and development activities are significantly propelling the market demand across the region.
The global Electronic Wet Chemicals Market is highly competitive owing to the presence of several key manufacturers such as Linde plc, Air Products and Chemicals, Inc., Cabot Microelectronics Corporation, BASF AG, Hitachi Chemical Company, Ltd., Air Liquide S.A., and others.
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Key findings of the study suggest:
- Global Electronic Wet Chemicals Market is anticipated to grow with a healthy growth rate of more than 7.2% over the forecast period 2023-2030.
- In the type segment, acetic acid emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to surge in demand for electronics.
- North America is expected to grow at a high CAGR followed byAsia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Type:
- Acetic acid
- Isopropyl alcohol
- Hydrogen peroxide
- Hydrochloric acid
- Ammonium hydroxide
- Hydrofluoric acid
- Nitric acid
- Phosphoric acid
- Sulfuric acid
- Others
By Form:
- Liquid form
- Gas form
- Solid form
By Application:
- Semiconductor
- IC packaging
- PCB
- Others
By End-use Industry:
- Consumer goods
- Automotive
- Aerospace & defence
- Medical
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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