Press Release

Jul, 21 2023

High Demand of Wet Chemicals Due to Increasing Electronic Devices Drives the Demand for the Global Electronic Wet Chemicals Market

The rising demand for electronic items, driven by the expanding consumer electronics market, advancements in the electronic industry, growing industrial automation, and the adoption of emerging technologies, has significantly impacted the electronic wet chemicals market. As the electronics industry continues to evolve and innovate, the demand for electronic wet chemicals is expected to grow further, ultimately driving market growth.

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The major applications of electronic wet chemicals are semiconductors, etching & cleaning, integrated circuits manufacturing, printed circuit boards, and others. The main end-users of the electronic wet chemicals are electronics, aerospace & defense, Agrochemical, personal and beauty care, textile, Pulp And Paper, consumer goods, automotive, medical, and others.

Data Bridge Market Research analyzes that the Global Electronic Wet Chemicals Market is expected to grow with a CAGR of 6.9% from 2023 to 2030 and is expected to reach USD 8,449.96 million by 2030.

Key Findings of the Study

Rising Application of Wet Chemicals in the Semiconductor Industry

The use of wet chemicals in the semiconductor industry has been a significant driver of growth in the electronic wet chemicals market. Wet chemicals, also known as liquid or chemical solutions, play a crucial role in various processes during semiconductor manufacturing. The use of wet chemicals in these critical semiconductor-manufacturing processes drives the growth of the electronic wet chemicals market. As the industry continues to advance, there is a growing need for more specialized and advanced wet chemical formulations to meet the evolving requirements of semiconductor fabrication. Therefore, there are several factors, such as rising applications of wet chemicals in the semiconductor industry coupled with industrial business strategies taken by key market players, will drive the market in the forecast period.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021  (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million

Segments Covered

Type (Ultra High Purity Chemicals, Straight Acids and Bases, Etchant Blends, Solvents, Cleaning Chemistries, and Others), Product (Acetic Acid, Acetone, Ammonium Fluoride, Isopropyl Alcohol, Ammonium Hydroxide, Ethylene Glycol ,Citric Acid, N-Methyl, 2 Pyrrolidine (NMP), Hydrochloric Acid, Monoethanolamine, Hydrofluoric Acid, Propylene Glycol Methyl Ether Acetate, Hydrogen Peroxide, Methyl Ethyl Ketone, Phosphoric Acid, Tetramethylammonium Hydroxide, Nitric Acid, Hexamethyldisilazane, Potassium Hydroxide, Dimethyl Sulfoxide, Sodium Hydroxide, Ethanol, Sulfuric Acid, Buffered Oxide Etchants, and Others), Form (Solid, Liquid, and Gas), Solubility Grade (Hydrogen Peroxide Electronic Range, Hydrofluoric Acid Electronic Range, Phosphoric Acid Electronic Grade, and Others), Application (Semiconductors, Etching & Cleaning, Integrated Circuits Manufacturing, Printed Circuit Boards, and Others), End-User (Electronics, Aerospace & Defense, Agrochemical, Personal and Beauty Care, Textile, Pulp and Paper, Consumer Goods, Automotive, Medical, and Others)

Regions Covered

U.S., Canada, Mexico, Germany, Italy, U.K., France, Switzerland, Spain, Russia, Turkey, Belgium, Netherlands, Denmark, Norway, Finland, Sweden, and Rest of Europe, China, India, South Korea, Japan, Taiwan, Thailand, Australia, Singapore, Indonesia, Malaysia, Philippines, New Zealand, Hong Kong, and Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, Kuwait, Oman, Qatar, Bahrain, and Rest of Middle East and Africa

Market Players Covered

T.N.C. INDUSTRIAL CO., LTD.(China), Transene Company, Inc. (U.S.), ASIA UNION ELECTRONIC CHEMICAL CORP. (China), Linde plc (Ireland), DERIVADOS DEL FLUOR (DDF) (Spain), Technic Inc. (U.S.), FUJIFILM Europe GmbH (Germany), Alfa Chemistry. (U.S.), BASF SE (Germany), Honeywell International Inc (U.S.), Mitsubishi Chemical Corporation (Japan), Eastman Chemical Company (U.S.), Solvay (Belgium), Entegris (U.S.), and KANTO KAGAKU (Japan)among others

Data Points Covered in the Report

In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis

The global electronic wet chemicals market is segmented into six notable segments based on type, product, form, solubility grade, application, and end-user.

  • On the basis of application, the market is segmented into semiconductors, etching & cleaning, integrated circuits manufacturing, printed circuit boards, and others.  

In 2023, the semiconductors segment is anticipated to dominate the global electronic wet chemicals market.

In 2023, the semiconductors segment is expected to dominate the global electronic wet chemicals market with a 40.13% market share, because of the manufactured products in the electronics industry in the forecast period of 2023 to 2030.

  • On the basis of end-user, the market is segmented into electronics, aerospace & defense, agrochemical, personal and beauty care, textile, pulp and paper, consumer goods, automotive, medical, and others.

In 2023, the electronics segment is anticipated to dominate the global electronic wet chemicals market.

In 2023, the electronics segment is expected to dominate the market the global electronic wet chemicals market with a 22.87% market share, due to the increasing demand for electronics among consumers in the forecast period of 2023 to 2030.  

  • On the basis of type, the market is segmented into ultra-high purity chemicals, straight acids and bases, etchant blends, solvents, cleaning chemistries, and others.  In 2023, ultra-high purity chemicals segment is expected to dominate the global electronic wet chemicals market with a 33.64% market share.
  • On the basis of product, the market is segmented into acetic acid, acetone, ammonium fluoride, isopropyl alcohol, ammonium hydroxide, ethylene glycol, citric acid, n-methyl, 2 pyrrolodine (NMP), hydrochloric acid, monoethanolamine, hydrofluoric acid, propylene glycol methyl ether acetate, hydrogen peroxide, methyl ethyl ketone,  Phosphoric Acid, tetramethylammonium hydroxide, nitric acid, hexamethyldisilazane, potassium hydroxide, dimethyl sulfoxide, sodium hydroxide, ethanol, sulfuric acid, buffered oxide etchants, and others. In 2023, the Sulfuric Acid segment is expected to dominate the global electronic wet chemicals market with a 9.45% market share.
  • On the basis of form, the market is segmented into solid, liquid, and gas. In 2023, solid segment is expected to dominate the global electronic wet chemicals market with a 50.88% market share.
  • On the basis of solubility grade, the market is segmented into hydrogen peroxide electronic range, hydrofluoric acid electronic range, phosphoric acid electronic grade, and others. In 2023, the hydrogen peroxide electronic range segment is expected to dominate the global electronic wet chemicals market with a 58.12% market share.

Major Players

Data Bridge Market Research recognizes the following companies as the major players in the global electronic wet chemicals market that includes T.N.C. INDUSTRIAL CO., LTD.(China), Transene Company, Inc. (U.S.), ASIA UNION ELECTRONIC CHEMICAL CORP. (China), Linde plc (Ireland), DERIVADOS DEL FLUOR (DDF) (Spain), Technic Inc. (U.S.), FUJIFILM Europe GmbH (Germany), Alfa Chemistry. (U.S.), BASF SE (Germany), Honeywell International Inc (U.S.), Mitsubishi Chemical Corporation (Japan), Eastman Chemical Company (U.S.), Solvay (Belgium), Entegris (U.S.), and KANTO KAGAKU (Japan)among others.

Market Developments

  • In June 2023, the company launched Perfection PermasertTM 2.0, an enhanced coupling for North American gas utility operators. This latest addition to the perfection series of gas distribution devices represents a significant advancement over the previous generation of mechanical coupling systems. The PermasertTM 2.0 coupling's unique design provides considerable advantages over competitor couplings, including universal compatibility with a wide range of gas line sizes and an innovative dual sealing mechanism.
  • In May 2023, the semiconductor high purity process chemicals (HPPC) business, owned by CMC Materials KMG Corporation, is being purchased by FUJIFILM Corporation from Entegris, Inc. (Entegris), a US-based company, for $700 million. This acquisition helps the company expand its business and network worldwide.
  • In April 2023, Honeywell International Inc announced it has agreed to acquire Compressor Controls Corporation (CCC) from INDICOR, LLC, which is owned by funds affiliated with private equity firm Clayton, Dubilier & Rice, LLC and Roper Technologies, Inc., for $670 million. CCC is a leading turbomachinery control and optimization solutions provider, including control hardware, software, and services. The acquisition will bolster Honeywell's high-growth sustainability portfolio with new carbon capture control solutions.
  • In February 2023, Technic Inc. took part and exhibited at SEMICON Korea 2023. SEMICON Korea has made a name for itself as an event featuring some of the semiconductor industry's major players. Technic Inc. in Korea for SEMICON has featured the most recent semiconductor technologies, tools, and materials. This sort of participation and exhibition will help the company to grow and gain a new consumer base.
  • In January 2023, Mitsubishi Chemical Group and Mitsui Chemicals initiated collaborative research to standardize and optimize chemical logistics underlie society and industry. The corporations want to gradually roll out activities across various vital subjects, with those that can be executed expected to begin this fiscal year. Mitsubishi Chemical Group and Mitsui Chemicals will work together to develop stronger, more sustainable chemical logistics.

Regional Analysis

Geographically, the regions covered in the global electronic wet chemicals market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Switzerland, Spain, Russia, Turkey, Belgium, Netherlands, Denmark, Norway, Finland, Sweden, and Rest of Europe, China, India, South Korea, Japan, Taiwan, Thailand, Australia, Singapore, Indonesia, Malaysia, Philippines, New Zealand, Hong Kong, and Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, Kuwait, Oman, Qatar, Bahrain, and Rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in the global electronic wet chemicals market during the forecast period 2023-2030

Asia-Pacific is expected to dominate the global electronic wet chemicals market due to the increasing demand for electronics among consumers. Asia-Pacific will continue to dominate the global electronic wet chemicals market in terms of market share and market revenue. It will continue to flourish its dominance during the forecast period.

Asia-Pacific is estimated to be the fastest-growing region in the global electronic wet chemicals market for the forecast period 2023-2030

Asia-Pacific is expected to grow during the forecast period due to the increasing demand for electronics among consumers. In addition to this, various technological advancements and expansions in the region.

For more detailed information about the global electronic wet chemicals market report, click here – https://www.databridgemarketresearch.com/ar/reports/global-electronic-wet-chemicals-market


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