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Market Overview:
The Electronic Materials and Chemicals Market size is estimated to reach $10.749 billion by 2030, growing at a CAGR of 7% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Electronic Materials and Chemicals Market – By Type (Materials {Metals (Silver, Copper, Aluminum, Steel, Brass, others), Semiconductor Materials (Germanium, Silicon, Cadmium Sulphide, Lead Sulphide, others), Isolators, Magnetic Materials (Silicon-iron, Nickel-iron, Cobalt-iron, others)}, Chemicals (Solid, Liquid, Gaseous)), By Application (Printing, Integrated Circuits, Device Monitoring, Circuit Boards, Device Packaging, Flat Panel Displays (Light Emitting Diode, LCD Screens, others), Solar Photovoltaic Cells, Communication Cables, Printed Circuit Board, and Others), By Geography – Opportunity Analysis & Industry Forecast, 2024-2030”
Improving internet of things (IoT) and artificial intelligence (AI) technology and growing consumption of semiconductors are fueling the growth of the Electronic Materials and Chemicals industry during the forecast period.
Asia-Pacific Dominated the Market in 2023:
Asia-Pacific dominated the electronic materials and chemicals market with a commanding 33% share in 2023. The region’s robust industrial base and strategic investments in advanced manufacturing have established its status as the largest hub worldwide. Rapid urbanization and strong government support further enhance market prominence. In India, a key player, initiatives are driving substantial growth, with projections from the National Investment Promotion and Facilitation Agency anticipating the country’s electronics manufacturing value to reach $400 billion by 2025. These factors consolidate Asia-Pacific’s leading position, underpinned by extensive innovation and infrastructural development that continue to fuel market dominance, ensuring long-term market supremacy.
Electronic Materials and Chemicals Market: Key Takeaways
Improving Internet of Things (IoT) and Artificial Intelligence (AI) Technology Drives the Demand for Electronic Materials and Chemicals:
The rapid evolution of IoT and AI is reshaping the electronic materials and chemicals market by bolstering semiconductor production demands. Driven by breakthroughs in connectivity and smart automation, the market is witnessing increased demand for specialized materials that enable higher performance in devices. IANS projects the IoT semiconductor component market to grow at a 19% compound annual growth rate, reaching $80 billion by 2025. Advancements in AI applications and autonomous vehicle technologies further stimulate the need for innovative chemicals and materials, while the emergence of flat panel displays like LED and LCD is creating new avenues for high-quality electronic inputs.
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Growing Consumption of Semiconductors is Driving the Market Growth:
The surging demand for semiconductors has a profound impact on the electronic materials and chemicals market, as these components are integral to devices like photo resistors and solar photovoltaic cells. The Semiconductor Industry Association reported worldwide semiconductor sales reaching $526.8 billion in 2023, with a projected increase of 13.1% in 2024. This robust growth in semiconductor consumption drives manufacturers to seek high-performance electronic materials and specialized chemicals for device fabrication and cleaning processes. Consequently, the expanding semiconductor sector is creating significant opportunities and challenges in ensuring consistent quality and supply in the electronic materials market. Overall, it fuels market innovation.
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Recent Developments:
- In July 2022, Entegris acquires CMC Materials, a global leader in electronic materials. With the acquisition of CMC Materials, Entegris offers the industry’s most comprehensive portfolio and enhanced operating capabilities, for applications in the fab environment and across the semiconductor ecosystem. This expanded portfolio increases Entegris content per wafer opportunity and its unit-driven revenue from 70% to approximately 80%.
- In September 2023, Resonac Corporation, a leading chemical company, and Matmerize Inc., an AI-powered materials startup, announced a strategic partnership, aiming to revolutionize the development of new semiconductor materials.
Electronic Materials and Chemicals Market: Competitive Landscape
Key companies profiled in the Electronic Materials and Chemicals Market are Linde Plc., Air Products and Chemicals, Inc., DuPont de Nemours Inc., Entegris Inc. (CMC Materials, Inc.), BASF SE, Resonac Corporation, Solvay, RAG-Stiftung (Evonik Industries AG), Eastman Chemical Company, Zhejiang Juhua Co., Ltd (Zhejiang Kaisn Fluorochemical Co. Ltd.), and others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
Contact Us:
Mr. Venkat Reddy
IndustryARC
Email: [email protected]
USA: (+1) 518-282-4727