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.
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.
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Data Bridge Market Research analyzes that the North America Electronic Wet Chemicals Market is expected to grow with a CAGR of 6.7% from 2023 to 2030 and is expected to reach USD 1,591.34 million by 2030. Rapid technological advancements and miniaturization is driving the market.
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
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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Type (Ultra High Purity Chemicals, Straight Acids and Bases, Etchant Blends, Solvents, Cleaning Chemistries, and Others), By Product (Sulfuric Acid, Hydrogen Peroxide, Ammonium Hydroxide, Ammonium Fluoride, Hydrofluoric Acid, Phosphoric Acid, Nitric Acid, Potassium Hydroxide, Hydrochloric Acid, Propylene Glycol Methyl Ether Acetate, Monoethanolamine, Acetic Acid, Ethanol, Citric Acid, Isopropyl Alcohol, Acetone, Methyl Ethyl Ketone, Buffered Oxide Etchants, Sodium Hydroxide, Tetramethylammonium Hydroxide, Dimethyl Sulfoxide, Ethylene Glycol, Hexamethyldisilazane, N-Methyl, 2 Pyrrolodine (NMP), 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)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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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 Holding Corporation (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.
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Data Points Covered in the Report
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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.
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Segment Analysis
The North America 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 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 North America electronic wet chemicals market with a 32.95% market share.
- On the basis of product, the market is segmented into sulfuric acid, hydrogen peroxide, ammonium hydroxide, ammonium fluoride, hydrofluoric acid, phosphoric acid, nitric acid, potassium hydroxide, hydrochloric acid, propylene glycol methyl ether acetate, monoethanolamine, acetic acid, ethanol, citric acid, isopropyl alcohol, acetone, methyl ethyl ketone, buffered oxide etchants, sodium hydroxide, tetramethylammonium hydroxide, dimethyl sulfoxide, ethylene glycol, hexamethyldisilazane, n-methyl, 2 pyrrolodine (NMP), and others. In 2023, sulfuric acid segment is expected to dominate the North America electronic wet chemicals market with an 8.20% market share.
- On the basis of form, the market is segmented into solid, liquid, and gas. In 2023, the solid segment is expected to dominate the North America electronic wet chemicals market with a 49.63% 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 North America electronic wet chemicals market with a 57.39% market share.
- 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 of application is anticipated to dominate the North America electronic wet chemicals market
In 2023, the semiconductors segment is expected to dominate the market with a 39.26% market share due to the manufactured products in the electronics industry.
- 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 of end-user is anticipated to dominate the North America electronic wet chemicals market.
In 2023, the electronics segment is expected to dominate the market with a 21.87% market share due to the increasing demand for electronics among consumers.
Major Players
Data Bridge Market Research recognizes the following companies as the major players in the North America electronic wet chemicals market that includes Linde plc (Ireland), FUJIFILM Holdings Corporation (Germany), BASF SE (Germany), Honeywell International Inc (U.S.), Mitsubishi Chemical Corporation (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 April 2023, a leading manufacturer of specialty chemicals, Evonik, received green hydrogen through a long-term contract signed by Linde plc. This agreement will help the company get a more significant consumer base and generate value in the forecast period.
- In April 2023, to increase its supply of high-purity industrial gases to Samsung Display, Linde plc announced that it would increase the capacity of its on-site facility in Tangjeong, South Korea. As a result of increased demand on the global market, Samsung Display plans to invest several billion dollars to convert its current LCD production line to an OLED one. This growth will assist the business in gaining the trust of its most essential clients in the anticipated time frame.
Regional Analysis
Geographically, the regions covered in the North America electronic wet chemicals market report are U.S., Canada, and Mexico.
As per Data Bridge Market Research analysis:
U.S. is the dominant region in the North America electronic wet chemicals market
U.S. is expected to dominate the North America electronic wet chemicals market due to the increasing demand for electronics among consumers.
U.S. is estimated to be the fastest-growing region in the North America electronic wet chemicals market for the forecast period 2023-2030
U.S. is expected to grow during the forecast period due to the technological advancements and expansions in the region.
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