North America Electronic Wet Chemicals Market, By Type (Ultra High Purity Chemicals, Straight Acids and Bases, Etchant Blends, Solvents, Cleaning Chemistries, and Others), 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) - Industry Trends and Forecast to 2030.
North America Electronic Wet Chemicals Market Analysis and Size
The North America electronic wet chemicals market is being driven by the high demand for wet chemicals due to increasing electronic devices along with the rising application of wet chemicals in semiconductor industry. Moreover, rapid technological advancements and miniaturization is expected to boost the market growth. However, volatility in raw material prices and complexity of the manufacturing process which is expected to pose a challenge to market growth which may restrain the market growth.
Data Bridge Market Research analyses that the North America electronic wet chemicals market is expected to reach the value of USD 1,591.34 million by 2030, at a CAGR of 6.7% during the forecast period.
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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
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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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Honeywell International Inc, FUJIFILM Holdings Corporation, DERIVADOS DEL FLUOR (DDF), KANTO KAGAKU, T.N.C. INDUATRIAL CO., LTD., Mitsubishi Chemical Corporation, BASF SE, Linde plc, Alfa Chemistry, ASIA UNION ELECTRONIC CHEMICAL CORP., Eastman Chemical Company, Entegris, Solvay, Technic Inc., Transgene Company, Inc, among others
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Market Definition
The electronic wet chemical is primarily used in the semiconductor industry to describe a method of fabricating and cleaning electronic components and semiconductor devices. It entails using liquid chemicals to perform various operations on electronic materials, such as etching, cleaning, and surface treatment. The efficient use of electronic wet chemical processes significantly contributes to advancing electronic technologies and producing high-quality semiconductor devices.
North America Electronic Wet Chemicals Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand for Wet Chemicals Due to Increasing Electronic Devices
The North America market for electronic wet chemicals has experienced significant growth in recent years, largely driven by the rising demand for electronic items. Electronic wet chemicals play a crucial role in the manufacturing and processing of electronic components, aiding in cleaning, etching, and surface preparation. The proliferation of consumer electronics, such as smartphones, tablets, laptops, and wearable devices, has been a key driver for the market. These devices rely on advanced electronic components, including semiconductors, printed circuit boards (PCBs), and integrated circuits (ICs), which require wet chemical processes for production and assembly. Furthermore, consumers increasingly seek high-quality electronic products with enhanced performance, reliability, and durability. Electronic wet chemicals improve the quality and functionality of electronic components by ensuring surface cleanliness, uniformity, and integrity. As a result, manufacturers are incorporating electronic wet chemical processes into their production lines to meet consumer expectations. Moreover, the rise of industrial automation and the Internet of Things (IoT) has fueled the demand for electronic items in various sectors, such as manufacturing, automotive, healthcare, and energy. These technologies rely on electronic components that necessitate precise cleaning, surface treatment, and chemical processing, thereby driving the demand for electronic wet chemicals.
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.
- Rising Application of Wet Chemicals in the Semiconductor Industry
The semiconductor industry has experienced significant growth in recent years due to its various benefits in the electronic market and other applications. Semiconductors are integral to numerous automotive, aerospace, healthcare, and energy industries. The automotive industry has seen a surge in the adoption of Advanced Driver-Assistance Systems (ADAS), Electric Vehicles (EVs), and autonomous vehicles, all of which heavily rely on semiconductors. The increasing integration of semiconductors in various applications drives the demand for electronic wet chemicals to manufacture and process these components. In addition, semiconductors are essential in industrial automation, enabling the control and monitoring of manufacturing processes, robotics, and industrial machinery, with the rise of Industry 4.0 and the Internet of Things (IoT), there is an increased need for semiconductors in smart factories and connected industrial systems. Moreover, semiconductors have revolutionized healthcare through applications such as medical imaging, diagnostic equipment, monitoring devices, and wearable health trackers. Advanced semiconductor technologies have enabled the development of smaller, more accurate, and energy-efficient medical devices, improving patient care and diagnosis. The demand for semiconductors is continuously increasing due to the increasing applications of semiconductors in various industries. Manufacturers in various countries have been developing semiconductors for the targeted end users, ultimately driving market growth.
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.
Restraints
- Volatility in Raw Material Prices
The volatile prices of raw materials used in electronic wet chemicals restrain the growth of the electronic wet chemicals market. Electronic wet chemicals rely on various raw materials, including acids, solvents, bases, surfactants, and specialty chemicals. Fluctuations in the prices of these raw materials directly affect the production cost of electronic wet chemicals. The industry's dependence on specific raw materials, especially those with limited North America supply, makes it vulnerable to price volatility and supply chain disruptions.
In addition, raw material price volatility affects electronic wet chemical manufacturers' research and development (R&D) activities. R&D efforts to develop new formulations, improve existing products, or introduce environmentally friendly alternatives may face setbacks if the cost of raw materials becomes prohibitively high. Moreover, price fluctuations in raw materials can influence the competitiveness of electronic wet chemical manufacturers in the market. Increased raw material costs may lead to higher product prices, making competing with suppliers offering more cost-effective solutions challenging. These competitiveness challenges can limit the growth opportunities for manufacturers and hinder the overall expansion of the electronic wet chemicals market. Thus, the fluctuation in raw materials prices and disruptions in the supply chain and procurement of raw materials may hamper the market growth.
Challenges
- Stringent Government Rules and Regulations
The electronic wet chemicals market encompasses various chemical substances used in various stages of electronic manufacturing processes, such as cleaning, etching, stripping, and surface preparation. Due to the potential environmental and health risks associated with these chemicals, governments worldwide have implemented stringent regulations to ensure their safe handling, use, and disposal. Government bodies establish regulatory frameworks to oversee the electronic wet chemicals market. These frameworks typically involve a combination of legislation, standards, guidelines, and enforcement mechanisms to control the production, distribution, use, and disposal of chemicals. Notable government bodies regulating this market include environmental protection agencies, occupational health and safety agencies, and chemical management authorities.
Government bodies enforce strict regulations regarding classifying and labeling chemicals used in the electronic wet chemicals market. Chemical substances are classified based on their potential hazards to human health and the environment, and corresponding hazard symbols, warning labels and safety data sheets (SDS) must be provided. This enables proper communication of hazards associated with these chemicals throughout the supply chain.
The electronic wet chemicals market is subject to stringent regulations imposed by government bodies to protect human health, ensure workplace safety, and minimize environmental impact. These regulations include chemical classification, hazard communication, restrictions on hazardous substances, occupational health and safety, environmental protection, chemical registration, and international harmonization. Compliance with these regulations is essential for businesses operating in the electronic wet chemicals market to ensure the safety of the end users. Hence, the stringent regulation laid out by government bodies may challenge market growth.
Opportunities
- Rising Research & Development and Innovative Technologies
The North America electronic wet chemicals market has witnessed significant growth in recent years, driven by rising demand for electronic devices and technological advancements. Research and development (R&D) efforts and innovative technologies have played a crucial role in shaping the market landscape. Research and development activities have expanded rapidly in the electronic wet chemicals market. Key players, including chemical manufacturers, equipment suppliers, and semiconductor companies, invest heavily in R&D to develop new and advanced wet chemicals. These efforts aim to improve electronic device performance, efficiency, and reliability and meet stringent quality and environmental regulations. Rising R&D investments have resulted in the development of advanced chemical formulations for electronic wet processes. Manufacturers are optimizing existing chemicals and developing novel formulations to address specific requirements. For instance, advancements in etching solutions have led to the development of selective etching chemicals that can precisely remove distinct layers or materials without damaging the underlying components.
In addition, with increasing environmental concerns and regulations, there is a growing emphasis on reducing the environmental impact of manufacturing processes. R&D efforts are thus directed toward developing eco-friendly wet chemicals that minimize waste generation, energy consumption, and the use of hazardous substances.
Recent 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.
North America Electronic Wet Chemicals Market Scope
The North America electronic wet chemicals market is segmented into six notable segments based on type, product, form, solubility grade, application, and end-user. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Ultra High Purity Chemicals
- Straight Acids And Bases
- Etchant Blends
- Solvents
- Cleaning Chemistries
- Others
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.
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)
- Others
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.
Form
- Solid
- Liquid
- Gas
On the basis of form, the market is segmented into solid, liquid, and gas.
Solubility Grade
- Hydrogen Peroxide Electronic Range
- Hydrofluoric Acid Electronic Range
- Phosphoric Acid Electronic Grade
- Others
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.
Application
- Semiconductors
- Printed Circuit Boards
- Etching & Cleaning
- Integrated Circuits Manufacturing
- Others
On the basis of application, the market is segmented into semiconductors, etching & cleaning, integrated circuits manufacturing, printed circuit boards, and others.
End-User
- Electronics
- Agrochemical
- Consumer Goods
- Aerospace & Defense
- Personal and Beauty Care
- Pulp and Paper
- Automotive
- Textile
- Medical
- Others
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.
North America Electronic Wet Chemicals Market Regional Analysis/Insights
The North America electronic wet chemicals market is analyzed and market size insights and trends are provided by country, type, product, form, solubility grade, application, and end-user as referenced above.
The countries covered in the North America electronic wet chemicals market report are U.S., Canada, and Mexico.
U.S. is expected to dominate the North America electronic wet chemicals market due to large production, easy availability of products and increase in customer base.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Electronic Wet Chemicals Market Share Analysis
The North America electronic wet chemicals market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus on the North America electronic wet chemicals market.
Some of the major players operating in the North America electronic wet chemicals market are Honeywell International Inc, FUJIFILM Holdings Corporation, DERIVADOS DEL FLUOR (DDF), KANTO KAGAKU, T.N.C. INDUATRIAL CO., LTD., Mitsubishi Chemical Corporation, BASF SE, Linde plc, Alfa Chemistry, ASIA UNION ELECTRONIC CHEMICAL CORP., Eastman Chemical Company, Entegris, Solvay, Technic Inc., Transgene Company, Inc, among others.
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