Electronic wet chemicals are liquid chemicals used to clean and etch electronic parts. These chemicals include nitric acid, hydrogen peroxide, hydrofluoric acid, phosphoric acid, and ammonium hydroxide. Electronic wet chemicals are used in the manufacturing of electronic components and in the cleaning of semiconductors. These chemicals are used in various industries, including pharmaceuticals, food & beverage, electronics, and automotive industries.
Market Statistics:
The Global Wet Chemicals for Electronics and Semiconductor Applications Market is estimated to account for US$ 3.4 Bn in terms of value by the end of 2021.
Global Wet Chemicals for Electronics and Semiconductor Applications Market: Drivers
The global electronic wet chemical market has several driving factors, which include government regulations and the use of electronic wet chemicals in various applications. The market is projected to expand at a moderate pace in the near future due to increased demand of electronic wet chemicals across developing countries.
Global Wet Chemicals for Electronics and Semiconductor Applications Market: Opportunities
Advancement in the technology is expected to provide significant growth opportunities for the key players over the forecast period. For instance, in January 2022, Alfa Chemistry launches a new product line, offering a wide array of high purity wet chemicals, which can be used for clean, removal, and rinse purposes. Furthermore, the growing population is also a contributing factor to the market growth.
Global Wet Chemicals for Electronics and Semiconductor Applications Market: Restraints
Unfavourable condition arising due to impact of the Covid1-19 on the global economy is expected to restrict the market growth to some extent. Moreover, high import costs across developing regions is also expected to limit the growth of the market growth.
Global Wet Chemicals for Electronics and Semiconductor Applications Market - Impact of Coronavirus (Covid-19) Pandemic:
The market is being influenced by the COVID-19 pandemic. This epidemic caused significant disruption to several industries, including the electronics and semiconductor industries. The electronic wet chemicals market was also negatively affected by the epidemic. This resulted in restrictive containment measures and led to the closure of commercial activities. However, the government has now lifted the restrictions on the use of wet chemicals.
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Key Takeaways:
The Global Wet Chemicals for Electronics and Semiconductor Applications Market was valued at US$ 3.4 Bn in 2021 and is forecast to reach a value of US$ 4.6 Bn by 2030 at a CAGR of 3.5 % between 2022 and 2030.
Acid Product Type segment held dominant position in the Global Wet Chemicals for Electronics and Semiconductor Applications Market in 2021, accounting for 28% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Wet Chemicals for Electronics and Semiconductor Applications Market Trends:
Increasing production capacity of wet chemicals by key players has emerged as a key trend for the global market. For instance, in 2018, Solvay announced to open a new electronic grade hydrogen peroxide plant in China. With an annual capacity up to 24,000 metric ton, the new facility is likely to supply the semiconductor industry with an essential chemical agent for the production of integrated electronic circuits.
The ongoing Make In India initiative by the government is a growing trend and this ongoing trend is expected to increase investment in the semiconductor industry. According to India Electronics and Semiconductor Association, the semiconductor component market in the country is expected to be worth USD 4.6 Bn by 2030, displaying a CAGR of 3.5 % (2022 - 2030).
Global Wet Chemicals for Electronics and Semiconductor Applications Market: Competitive Landscape
Avantor Inc., BASF SE, Eastman Chemical Company, FUJIFILM Corporation, Honeywell International LLC, KANTO CHEMICAL CO. INC., KMG Chemicals (Cabot Microelectronics), kredence Pvt Ltd, Solvay, T.N.C. INDUSTRIAL CO. LTD, Technic Inc., Linde, and Zhejiang Kaisn Fluorochemical Co. Ltd
Global Wet Chemicals for Electronics and Semiconductor Applications Market: Recent Developments
In November 2018, CABOT MICROELECTRONICS has announced its successful completion of the acquisition of KMG Chemicals.
In November 2018, Solvay’s Special Chem business unit has announced opening of a new electronic grade hydrogen peroxide plant in Zhenjiang, China with an annual capacity of 24,000 metric ton.
In July 2018, Solvay has announced prices rise EUR 130 per dry metric ton in Europe for all the hydrogen peroxide grades and derivatives from September 1st, 2018
