Electronic Chemicals Market Overview:
Market Research Future (MRFR) hypothesizes that the global electronic chemicals market is anticipated to garner USD 63 billion, grabbing a CAGR of 6.9% during the appraisal period (2018-2022). Rapid industrialization across the globe is anticipated to favor the market growth. Electronic chemicals are referred to as specialty chemicals which are used in the manufacturing of electronic products and its components such as printed circuit boards, integrated circuits, solar cells, and flat panel displays. They include chemicals in liquid, solid, and gaseous state.
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Electronic Chemicals Market Key Players:
The prominent players operating the global electronic chemicals market are BASF SE, Huntsman Corporation, Albemarle Corporation, Covestro AG, Air Products and Chemicals Inc., The Linde Group, AZ Electronic Materials, Cabot Microelectronics, The Dow Chemical Company, Ashland Inc., and others.
Electronic Chemicals Market Segmentation:
The global electronic chemicals market has been segmented on the basis of form and application.
By mode of form, the global electronic chemicals market has been segmented into solid, liquid, and gas.
By mode of application, the global electronic chemicals market has been segmented into PCB, semiconductor & IC, and others. Among these, the semiconductor & IC segment is anticipated to dominate the global electronic chemicals market as ICs are extensively used to manufacture semiconductor which is further gaining momentum in wearable electronics like personal medical monitoring devices. The segment is considered to be driven by the rising connectivity of devices and systems, which demands the use of semiconductor devices and sensors.
Electronic Chemicals Market Regional Analysis:
Geographically, the electronic chemicals market spans across regions namely, Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).
Among all the regions, the Asia Pacific region is presumed as the largest consumer of electronic chemicals and is likely to retain its dominance in the coming years. The mass production of electronic devices in economies such as India and China are considered to be responsible for the burgeoning demand of electronic chemicals in this region. The Chinese government is aiming towards investing in domestic chip companies in order to build a world-class semiconductor industry. Such factors are influencing the market growth to a large extent.
The North American region is considered to occupy the second position in the global market. The market is anticipated to showcase a sluggish growth rate owing to the market saturation in various end-user industries. With the augmenting number of environmental norms in North America and Europe, the market is likely to experience a slowdown.
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