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As per the insights from SNS Insider, the Electronic Materials and Chemicals Market is witnessing remarkable growth due to Advanced materials such as semiconductors and conductive polymers are transforming the landscape of electronics.
The Electronic Materials and Chemicals Market, as per the SNS Insider report, recorded a size of USD 64.2 billion in 2022. It is anticipated to achieve a valuation of USD 105.46 billion by 2030, experiencing a compound annual growth rate (CAGR) of 6.4% throughout the forecast period from 2023 to 2030.
Market Report Scope
Electronic materials, such as semiconductors and conductors, are essential components in modern devices like smartphones, computers, and TVs, ensuring their proper functioning. Chemicals, such as solvents, are crucial in manufacturing to maintain product quality. The rapid growth of the electronics sector, boosted by IoT and 5G technologies, increases the demand for advanced materials. Manufacturers focus on shrinking sizes and improving performance, leading to innovations in conductivity and durability. This commitment to research and development not only meets industry needs but also drives the Electronic Materials and Chemicals Market towards growth.
| Report Attributes | Details |
| Market Size in 2022 | 64.2 billion |
| Market Size by 2030 | 105.46 billion |
| CAGR | 6.4% Over the Forecast 2023-2030 |
| Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
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Market Analysis
The Electronic Materials and Chemicals Market is poised for substantial growth due to advancements in the electronics industry and increased demand for electronic devices. The rise of IoT and AI technologies has led to the development of intelligent home devices, particularly in the industrial sector where IoT is projected to grow by 66%. Manufacturers are exploring new opportunities with AI integration, while the demand for electric vehicles presents a promising avenue for market expansion. Additionally, advancements in nanotechnology and smart materials are further fueling the market’s growth trajectory, offering new possibilities for innovation and development.
Major Key Players Included are:
- BASF
- Air Products & Chemicals Inc.
- Albemarle Corporation
- Air Liquide Holdings Inc.
- Ashland Inc.
- Bayer Ag
- Linde Group
- Honeywell International Inc.
- Cabot Microelectronics Corporation
- Dow Chemical Company
- Monsanto Electronic Materials Co.
- Hitachi Chemical Company
- Brewer Science
- Sumitomo Chemical
- Shin-Etsu
- Covestro
- AZ Electronic Materials Plc
- HD Microsystems
- Drex-Chem Technologies
- and other
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Segment Analysis
The Electronic Materials and Chemicals Market exhibits significant diversity across various segments, each playing a crucial role in its growth trajectory. In terms of application, PCB laminate applications emerged as a dominant force, accounting for 16% of the total revenue share in 2022. This surge is fueled by the manufacturing demands of amplifiers and LEDs, indicating a burgeoning market for these essential components.
In end use, Printed Circuit Boards (PCBs) emerge as a pivotal segment with an anticipated Compound Annual Growth Rate (CAGR) of 6.7% over the forecast period. The heightened demand for PCBs underscores their indispensable role in integrated circuit chip technology, serving as fundamental components in devices ranging from smartphones to laptops.
Electronic Materials and Chemicals Market Segmentation
By Type
- Solid
- Liquid
- Gaseous
By Application
- Silicon wafers
- Specialty gases
- Wet chemicals and solvents
- Photoresists
- PCB Laminates
- Other Applications
By End-Use
- Semiconductors & Integrated Circuit
- Printed Circuit Boards
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Impact of Russia-Ukraine War
The ongoing conflict between Russia and Ukraine has sent shockwaves through the semiconductor industry, causing a significant disruption in the global supply chain. Ukraine’s role as a major source of semiconductor-grade neon, essential for chip manufacturing, has intensified the shortage crisis. The scarcity of Neon and Hexafluoro butadiene gases, pivotal in lithography processes for chip production, has resulted in widespread production delays and a surge in prices across industries reliant on semiconductor components. This ripple effect highlights the vulnerability of global supply chains to geopolitical tensions, underscoring the urgent need for diversification and resilience strategies within the semiconductor sector and its associated industries.
Impact of Ongoing Recession
The electronics industry is facing significant challenges due to the current recession, characterized by a decline in consumer spending. This reduction in demand has had widespread effects across supply chains, worsening existing difficulties. Manufacturers are dealing with increased material costs, directly impacting their ability to produce goods and maintain profitability. These challenges have led businesses to carefully balance operational efficiency with the urgent need for effective cost management strategies. The industry is navigating through a complex landscape, striving to adapt to the changing economic conditions while ensuring sustainable operations.
Key Regional Developments
Asia-Pacific emerges as a powerhouse in the Electronic Materials and Chemicals Market, commanding a substantial share of about 65% globally. This dominance is attributed to the region’s rapid industrialization and the presence of numerous electronic device manufacturers, particularly in countries such as China, Japan, and South Korea. The demand for Printed Circuit Boards (PCBs) in various industries including electronic gaming, consumer goods, telecommunications, and IT further propels the market’s growth in this region.
In North America, a projected Compound Annual Growth Rate (CAGR) of 6.7% sets a promising trajectory for the Electronic Materials and Chemicals Market. The region hosts a plethora of electronic device manufacturers such as Micron, Intel, Fairchild, Texas Instruments, and Avago. These giants actively contribute to the production of digital and analog semiconductor technologies, driving demand for electronic materials. Moreover, North America’s specialty gases sector, coupled with rising demands for plasma display panels and photovoltaic products, presents a fertile ground for market expansion. The United States leads the electronic chemicals market in North America, whereas Canada experiences the fastest growth in the region, collectively reflecting a region ripe with opportunities for market players.
Key Takeaways for Electronic Materials and Chemicals Market Study
- Innovations and breakthroughs in the electronics industry, such as the emergence of 5G, artificial intelligence (AI), and IoT technologies, are key drivers for the market.
- Asia-Pacific dominates the market, driven by industrialization and a strong presence of electronic device manufacturers.
- The recession poses challenges, impacting material costs and supply chains within the electronics industry.
Recent Developments
- In August 2023, BASF announced plans to relocate its Electronic Materials Research and Development (R&D) Center to enhance innovation.
- In June 2023, Air Liquide invested close to 200 million US dollars in advanced material production centers, aiming to bolster supply chain sustainability.
Table of Contents – Major Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- COVID-19 Impact Analysis
- Impact of Ukraine- Russia war
- Impact of ongoing Recession
- Value Chain Analysis
- Porter’s 5 Forces Model
- PEST Analysis
- Electronic Materials and Chemicals Market Segmentation, By Type
- Electronic Materials and Chemicals Market Segmentation, By Application
- Electronic Materials and Chemicals Market Segmentation, By End-use
- Regional Analysis
- Company Profiles
- Competitive Landscape
- Use Case and Best Practices
- Conclusion
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