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Global Wet Chemicals Market to reach USD 5.54 billion by the end of 2030.

Global Wet Chemicals Market Size study & Forecast, by Product type (Acids, Bases, Solvents, Oxidizers, Others), by Application (Semiconductor, Etching, Cleaning, IC packaging, PCB, Others) and Regional Analysis, 2023-2030

Product Code: CMCC-97415677
Publish Date: 20-07-2023
Page: 200

Global Wet Chemicals Market is valued approximately USD 3.40 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.3% over the forecast period 2023-2030. Wet chemicals refer to commercial organic and inorganic chemicals used in various industries. They are commonly used as etching and cleaning agents in semiconductor processing systems and have wide-ranging applications in agriculture, textile, electronics, and other fields. The growing use of integrated circuits, chips, and microchips in electronics is driving the demand for semiconductors and subsequently the wet chemicals market. The demand is further fueled by the need for acids, hydroxides, and peroxides for substrate cleaning and etching. Hydrogen peroxide is particularly in high demand for its long-term applications in semiconductor etching and cleaning.

Moreover, the wet chemicals are extensively used in the fabrication of semiconductors. They are employed for various processes such as cleaning, etching, polishing, and surface preparation. As the demand for semiconductors increases, the need for wet chemicals also rises.. According to Statista, in 2022, the global semiconductors market is valued USD 621.88 billion and it is anticipated to reach USD 729.64 billion by 2025. As a result, the growing semiconductors market is anticipated to support the market growth during forecast period. Additionally, the recycling of semiconductors and technological advancements provide lucrative opportunities to the market. However, the increase in raw material prices of Wet Chemicals stifled market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global 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 growing demand for electronics in countries like China, India, and Japan is anticipated to create a lucrative opportunity for wet chemicals in these regions. According to the China Semiconductor Industry Association 2021, the sales of integrated circuits reached a milestone of USD 157.08 billion in 2021 in China, likewise, the India Electronics and Semiconductor Association predicts that the semiconductor component market in India reach a value of USD 32.35 billion by 2025. North America is expected to grow significantly during the forecast period, owing due to the large number of semiconductors and electronics manufacturers in the U.S. and Canada and increasing demand for electronics products, where these chemicals are utilized as essential etching materials.

Major market player included in this report are:
Evonik Industries AG
Kanto Kagaku Singapore Pte Ltd
Rin Kagaku Kogyo Co. Ltd.
Formosa Daikin Advanced Chemicals Co. Ltd.
Santoku Chemical Industries Co. Ltd.
Hejiang Kaisn Fluorochemical Co. Ltd.
Solvay Inc.
Honeywell International Inc.,
Chang Chun Group
Chemicals Group Co. Ltd.
Recent Developments in the Market:
Ø In July 2022, Entegris, completed the acquisition of CMC Materials, consolidating its position as the worldwide leader in electronic materials. This strategic move strengthened its position as the industry’s most extensive portfolio provider and enhanced operational capabilities for applications in the fab environment and throughout the semiconductor ecosystem.
Global Wet Chemicals Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
By Application:
IC packaging
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Wet Chemicals Market, by Region, 2020-2030 (USD Billion)
1.2.2. Wet Chemicals Market, by Product Type, 2020-2030 (USD Billion)
1.2.3. Wet Chemicals Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wet Chemicals Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wet Chemicals Market Dynamics
3.1. Wet Chemicals Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing use of wet chemicals in the semiconductor industry Growing demand for electric vehicles
3.1.2. Market Challenges High raw material Cost Availability of alternative substitute
3.1.3. Market Opportunities Surging demand for hydrogen peroxide from the semiconductor industry
Chapter 4. Global Wet Chemicals Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Wet Chemicals Market, by Product Type
5.1. Market Snapshot
5.2. Global Wet Chemicals Market by Product Type, Performance – Potential Analysis
5.3. Global Wet Chemicals Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
5.4. Wet Chemicals Market, Sub Segment Analysis
5.4.1. Acids
5.4.2. Bases
5.4.3. Solvents
5.4.4. Oxidizers
5.4.5. Others
Chapter 6. Global Wet Chemicals Market, by Application
6.1. Market Snapshot
6.2. Global Wet Chemicals Market by Application, Performance – Potential Analysis
6.3. Global Wet Chemicals Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Wet Chemicals Market, Sub Segment Analysis
6.4.1. Semiconductor
6.4.2. Etching
6.4.3. Cleaning
6.4.4. IC packaging
6.4.5. PCB
6.4.6. Others
Chapter 7. Global Wet Chemicals Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Wet Chemicals Market, Regional Market Snapshot
7.4. North America Wet Chemicals Market
7.4.1. U.S. Wet Chemicals Market Product Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Wet Chemicals Market
7.5. Europe Wet Chemicals Market Snapshot
7.5.1. U.K. Wet Chemicals Market
7.5.2. Germany Wet Chemicals Market
7.5.3. France Wet Chemicals Market
7.5.4. Spain Wet Chemicals Market
7.5.5. Italy Wet Chemicals Market
7.5.6. Rest of Europe Wet Chemicals Market
7.6. Asia-Pacific Wet Chemicals Market Snapshot
7.6.1. China Wet Chemicals Market
7.6.2. India Wet Chemicals Market
7.6.3. Japan Wet Chemicals Market
7.6.4. Australia Wet Chemicals Market
7.6.5. South Korea Wet Chemicals Market
7.6.6. Rest of Asia Pacific Wet Chemicals Market
7.7. Latin America Wet Chemicals Market Snapshot
7.7.1. Brazil Wet Chemicals Market
7.7.2. Mexico Wet Chemicals Market
7.8. Middle East & Africa Wet Chemicals Market
7.8.1. Saudi Arabia Wet Chemicals Market
7.8.2. South Africa Wet Chemicals Market
7.8.3. Rest of Middle East & Africa Wet Chemicals Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Evonik Industries AG Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Kanto Kagaku Singapore Pte Ltd
8.3.3. Rin Kagaku Kogyo Co. Ltd.
8.3.4. Formosa Daikin Advanced Chemicals Co. Ltd.
8.3.5. Santoku Chemical Industries Co. Ltd.
8.3.6. Hejiang Kaisn Fluorochemical Co. Ltd.
8.3.7. Solvay Inc.
8.3.8. Honeywell International Inc.,
8.3.9. Chang Chun Group
8.3.10. Chemicals Group Co. Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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