Electronic Chemicals Market- Global Size Anticipated to Touch USD 70,000 MN By 2027, Says Credence Research

The market size of global electronic chemical market was around USD 48,500 million in 2020 and likely to exhibit CAGR of over 6% during the forecast period, 2021 to 2027, to reach an estimated USD 70,000 million in 2027.

Electronic chemicals are the highly sophisticated chemicals which are mainly used at various stages of electronic products’ manufacturing such as printed circuit board (PCB), semiconductor, and displays. Also, electronic chemicals are significantly used in advanced chemical purification technologies namely ion exchange, distillation, gas adsorption and filtration in order to offer consistently low contaminant levels in the high-purity process chemicals.

Key Trends in Global Electronic chemical Market

Increasing demand for electronic products

The growing demand for electronic products around the world is driving up demand for electronic chemicals, which are used in the production of displays, capacitors, and semiconductors. Furthermore, widespread adoption of technologies such as AI (Artificial Intelligence) and IoT has given rise to a new product category of intelligent home devices. For example, according to Cisco, one of the worldwide players in IT and networking, every second, there are around 127 new IoT appliances connected to the internet, and there could be 75 billion+ IoT devices online, by the end of 2025. Above figures showcases that the demand for electronic chips, mobile-phones, and integrated circuits is expected to accelerate, which may eventually fuel the global electronic cemical market, during the forecast period.

To Understand How Covid-19 Impact Is Covered in This Report – https://www.credenceresearch.com/report/electronic-chemicals-market

Impact of COVID 19 on Global Electronic chemical Market

The long-term viability of the electronic chemical industry is largely due to the rapidly increasing demand from the global electronics sector. COVID-19, on the other hand, has a significant impact on the revenue generation of the global electronic chemical market. Border closures, industrial lockdowns, and travel restrictions are disrupting supply chains and other business operations. Though the majority of the countries have implemented shutdown in order to prevent the health impact of pandemic, this industry may survive owing to the robust presence of leading chemical manufacturers including DowDuPont, Hitachi Chemical, and BASF SE. Also, such organizations are coming up with strategic-steps such as product development, merges & acquisitions and others. For example, in January 2020, Showa Denko, significant electronic chemical provider, has acquired Hitachi Chemical in a worth of $8.8 billion, amid COVID-19 crisis.

Global Electronic chemical Market by Type Insights

On the basis of type the global market for electronic chemicals is broadly categorized into wet chemicals, low K dielectrics, photoresist chemicals, conductive polymers, CMP slurries, specialty gases, PCB laminates, and silicon wafers. Silicon wafer accounted for the largest share of the total revenue generated by the global electronic chemical market in 2020.

Service Segment to Dominate the global Electronic chemical market

Global Electronic Chemical Market by Application Insights

Semiconductors and others are the two major application areas for the global electronic chemical market. Moreover, semiconductors segment is further classified into integrated circuits and Printed Circuit Board. Semiconductors segment accounted for the vast majority in the revenue generation of Electronic Chemical in 2020. It accounted for over 55% share in 2020.

Global Electronic chemical Market by Regional Insights

Asia Pacific was the largest market for electronic chemical market in 2020 and accounted for over 60% share in total revenue generation. Asia Pacific is also expected to exhibit notable growth rate, during the analysis period. The rapid growth of the electronics industry, particularly in China, India, Australia, and Japan, has increased demand for electronic chemicals in the APAC region. Furthermore, advancements in IT and telecommunications, electronic gaming, smart cards, and consumer goods such as mobile phones, personal computers, and digital cameras have had a positive impact on the Asia-Pacific electronic chemical market during the review period. Europe also has a sizable market share and is expected to maintain its dominant position in the market.

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Global Electronic Chemical Market Competitive Landscape

Most prominent players in the global electronic chemical market include Cabot Microelectronics, Air Products and Chemicals, Linde plc, Solvay A.G., Air Liquide, Covestro, DowDuPont, Hitachi Chemical, BASF AG, and Shin-Etsu. The report covers very detailed profiles of these key players.

Market Segmentation

Global Electronic chemical Market by Type, 2015 – 2027

• Specialty Gases
• CMP Slurries
• Conductive Polymers
• Photoresist Chemicals
• Low K Dielectrics
• Wet Chemicals
• Silicon Wafers
• PCB Laminates

Global Electronic chemical Market by Application, 2015 – 2027

• Semiconductors
  • Integrated circuits
  • Printed circuit boards
• Others

Global Electronic chemical Market by Region, 2015 – 2027

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Electronic Chemical Market: Key Players

• Air Products and Chemicals
• Linde plc
• Cabot Microelectronics
• DowDuPont
• Hitachi Chemical
• BASF AG
• Solvay A.G.
• Air Liquide
• Covestro
• Songwon
• Shin-Etsu

Download Free Sample PDF including full TOC, Tables and Figures@ https://www.credenceresearch.com/sample-request/60301

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Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.

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