Demand solar energy, smartphones, semiconductors drive growth

Demand for solar energy, smartphones, semiconductors to drive growth

5:30 AM, 6th September 2018
Electronic Chemicals

Global electronic chemicals market is expected to rise with CAGR of 7 percent during forecast period 2017-2024. Key factors driving the market growth are high adoption of solar energy, increasing demand for smartphone, computers etc and increasing use of semiconductors in industries such as aviation, defense etc and development of environment friendly chemicals. Decrease in demand of silicon wafers, semiconductor counterfeiting and stringent regulations are expected to restrain the market growth.

However, growing advancements and technological inventions in electronic chemicals and wide adoption among end users are expected to provide lucrative market opportunities. Health hazards associated with electronic chemicals is expected to challenge the market growth.

Geographically, global electronic chemicals market is segmented into North America, Europe, Asia Pacific and RoW. Asia Pacific is both dominating and fastest growing market region for global electronic chemicals market in terms of market revenue share during the forecast period 2017-2024. This is due to the surging demand for electronics chemicals in Asia Pacific countries such as Japan, China, South Korea, Taiwan and growing consumer electronics industry, along with technological developments in electronic chemicals.

On the basis of types of electronic chemicals, market is segmented into silicon wafers, gases, chemical mechanical planarization (CMP), photoresists, wet chemicals and others. Silicon wafers is the dominating type segment due to its increased adoption of silicon wafers in consumer electronics such as smartphones, laptops etc, surging number of semiconductor manufacturers along with increasing demand for miniaturization of electronic components.

CMP is the fastest growing segment owing to the increased adoption of CMP slurries in semiconductor fabrication process for high-precision fabrication. CMP slurries consists of a complex mixture of numerous chemicals and materials, such as abrasive particles made up of nano-sized fumed or colloidal silica, alumina or ceria, surfactants, corrosion inhibitors, biocides, oxidizers, chelating agents etc. Polishing pads are majorly used with CMP slurries to polish the materials and are important to combine with the appropriate CMP slurries to deliver highly efficient performance.

On the basis of applications of electronic chemicals, market is wsegmented into semiconductors & integrated circuits (IC), printed circuit board (PCB) and others. IC is both, the leading and fastest growing application segment owing to the increased adoption of semiconductor and IC circuits in consumer electronics products such as smartphones, tablets, computer etc.

Global electronic chemicals market is influenced by the presence of leading electronic chemicals manufacturers, such as Air Liquide Holdings Inc (US), Albemarle Corporation (US), BASF SE (Germany), Bayer AG (Germany), Cabot Microelectronics Corporation (Phillipines) and others. Product launch, partnership and acquisition are some of the crucial strategies adopted by the key market players to gain competitive advantage.

Source: Global Information Inc

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