The global electronics materials & chemicals market is expected to reach USD 81.05 billion by 2024,
according to a new report by Grand View Research, Inc. Electronic materials
& chemicals are an essential part of electronic device manufacturing
process. Increasing technological advancements in manufacturing electronic
products owing to rising consumer demand for high-tech goods is expected to
propel demand for the product over the forecast period.
The consumer electronics
segment is anticipated to drive market growth owing to significant demand
particularly in emerging economies including India, Indonesia, and Vietnam.
China is the largest manufacturer of consumer electronics and is a major
consumer of semiconductors and PCB. This trend is expected to continue over the
forecast owing to the growing emergence of low-cost manufacturers in the
country.
Rising R&D
initiatives employed by manufacturers to develop advanced electronic materials
which provide superior performance is expected to be a key factor driving
growth over the forecast period. Rising demand for electronic equipment with
lower energy consumptions is likely to boost demand for use of new electronic
Electronics such as organic and compound semiconductors. R&D related to
synthesis of bio-based and biodegradable materials and chemicals for
electronics industry is expected to drive the market growth.
The industry is
characterized by the presence of numerous players with a strong foothold in the
market. Fluctuating raw material prices and high competition is expected to
pose a challenge for the industry players. Manufacturers are likely to
establish production plants in the Asia Pacific in order to capitalize on high
demand, low labor cost, land availability and abundant raw material
availability in the region.
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Research:
Further key findings from the report suggest:
·
The market is segmented on the basis of
product including solid, liquid and gases. Gaseous type is likely to witness
the fastest growth among all type electronic materials & chemicals owing to
its rising application scope in semiconductor and PCB manufacturing. Adoption
of newer technologies for manufacturing electronic equipment such as atomic
layer deposition (ALD) and chemical vapor deposition process on the chips are likely
to open new avenues for growth over the next eight years.
·
Silicon wafer was the largest application
segment, accounting for over 40% of global electronic materials & chemicals
market revenue in 2015. The product is an essential part of semiconductors and
integrated circuits. Furthermore, rising demand for thin silicon wafers in
manufacturing solar cells is expected to be a key factor for the industry
growth.
·
Semiconductor and integrated circuits were
the major end-use application segment, valued at over USD 32 billion in 2015.
Growing demand for consumer products such as smartphones, computers, video
recorders and television sets is expected boost semiconductors and integrated
circuits market, which in turn is anticipated to have a positive impact on the
industry growth.
·
Asia Pacific dominated the electronic
materials & chemicals market in 2015, accounting for over 65% of the global
market. Rapid industrialization coupled with increasing urbanization and rising
spending consumer capacities in the region are likely to boost demand for
consumer goods, which in turn is expected to increase demand for the market
over the forecast period. Furthermore, increasing demand for smartphones,
wearable electronics gadgets and tablets especially among the young population
is expected to be the key factors driving growth.
·
Key players in the industry include Air
Products & Chemicals Inc., Ashland Inc., Air Liquide Holdings Inc., BASF
Electronic Chemicals, Honeywell International Inc., Cabot Microelectronics
Corporation, Linde Group, KMG Chemicals Inc., Fujifilm Electronic Materials,
Kanto Chemical Co., Inc. and Tokyo Ohka Kogyo Co., Ltd.
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Research: http://www.grandviewresearch.com/press-release/global-electronic-materials-chemicals-market
Grand View Research has
segmented the electronic materials & chemicals market on the basis of
product, application, end-use and region:
Electronic Materials & Chemicals Market Product
Outlook (Revenue, USD Million, 2013 - 2024)
·
Solid
·
Liquid
·
Gaseous
Electronic Materials & Chemicals Market Application
Outlook (Revenue, USD Million, 2013 - 2024)
·
Silicon wafers
·
PCB Laminates
·
Specialty gases
·
Wet chemicals and solvents
·
Photoresists
·
Others
Electronic Materials & Chemicals Market End-Use
Outlook (Revenue, USD Million, 2013 - 2024)
·
Semiconductors & Integrated Circuits
·
Printed Circuit Boards
Electronic Materials & Chemicals Market Regional
Outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o Japan
o India
·
Latin America
o Brazil
·
Middle East and Africa
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-electronic-materials-chemicals-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
