The electronic chemicals and materials market size is projected to grow from USD 59.1 billion in 2023 and is projected to reach USD 77.8 Billion by 2028, at a CAGR of 5.6% during the forecast period. The research report covers key players in the industry, CAGR values, market momentum, constraints, and competitive strategies around the world from the region. The report also includes a thorough survey of the market, including all factors that influence electronic chemicals and materials market growth With SWOT analysis. The growth of the electronic chemicals and materials market hinges on the semiconductor industry, which, in turn, is influenced by technological advancements in electronics. Rising demand for circuit boards and memory chips, as well as the adoption of technologies like artificial intelligence (AI), are expected to propel the semiconductor industry forward. Additionally, the market is benefiting from the increasing prevalence of electric and hybrid vehicles. The communications sector is also poised for growth, driven by the rollout of 5G technology, which is anticipated to boost the electronic chemicals and materials market.
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“PCB Laminates segment is estimated to be the 2nd largest type of electronic chemicals and materials.”
PCB laminates, or printed circuit board laminates, are insulating materials that provide mechanical support and electrical insulation for electronic components. They are used to create the substrate or base of a printed circuit board (PCB), onto which electronic components are mounted and connected by conducting pathways. The demand for PCB laminates is expected to increase in the future due to the growing use of electronic devices across various industries such as consumer electronics, automotive, aerospace, and healthcare. The proliferation of smartphones, tablets, wearable devices and the development of new technologies like 5G, IoT, and AI are driving this demand. Additionally, the trend towards miniaturization of electronic devices and the need for high-performance, reliable PCBs are contributing to the growth of the electronic chemicals and materials market.
“Semiconductor application segment of the electronic chemicals and materials market is expected to register the highest CAGR during the forecast period.”
The semiconductor application segment within the electronic chemicals and materials market is anticipated to experience the highest Compound Annual Growth Rate (CAGR) throughout the forecast period. Semiconductor devices are integral components of electronic systems, consisting primarily of Integrated Circuits (ICs) and Printed Circuit Boards (PCBs). Integrated Circuits are complex assemblies of electronic components, including active devices like transistors and passive devices such as capacitors, all intricately interconnected on a thin silicon substrate, resulting in what is commonly referred to as a “chip.” On the other hand, Printed Circuit Boards are mechanical structures containing all the electronic components within layers of conductive polymer alternated with non-conductive insulation material. The demand for electronic devices, driven by technological advancements and consumer needs, propels the growth of the semiconductor application segment within the electronic chemicals and materials market, making it a focal point for investment and development initiatives in the foreseeable future.
“North America accounts for the 2nd largest share in terms of the value of the electronic chemicals and materials market.”
The North American region stands as the second-largest market globally for electronic chemicals and materials, boasting significant prowess in semiconductor production, consumer electronics consumption, and advanced technology sectors. While manufacturing plants have migrated to the Asia-Pacific region to leverage cost-efficient labor, North America maintains its stature as a major consumer of electronic chemicals and materials. The United States, in particular, emerges as the primary driver of this market within the North American territory, fueled by its robust demand for high-quality materials essential for communication technology, space research, smartphones, and display units.
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Electronic Chemicals and Materials Companies
The key market players are Shin-Etsu Chemical Co., Ltd. (Japan), Linde Plc (England), Fujifilm Corporation (Japan), Resonac Holding Corporation (Japan), Air Liquide (Paris), Solvay (Belgium), BASF SE(Germany), Mitsui Chemicals America, Inc. (US), Merck KGaA (Germany), Covestro AG (Germany), SUMCO Corp. (Japan), Air Products & Chemicals, Inc. (US), and Songwon (South Korea) among others. These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and contract & agreement between 2018 and 2023, to enhance their market shares and expand their global presence.
Linde plc is a leading player in the industrial gas sector, renowned for its innovative technologies. Its core offerings encompass atmospheric gases like, nitrogen, argon, oxygen and rare gases, alongside process gases such as carbon dioxide (Liquid), helium, hydrogen, electronic gases, specialty gases, and acetylene. Beyond product provision, Linde Plc excels in equipment design, engineering, and construction for gas production, complemented by an extensive array of gas-related services. Its clientele spans diverse sectors like healthcare, chemicals, semiconductor, energy, manufacturing, metals, mining, food, beverages, and electronics. With an extensive infrastructure comprising production plants, pipeline networks, distribution hubs, and delivery fleets, Linde serves global markets, with major pipeline complexes strategically situated in key regions like the United States and China.
Fujifilm Corporation engages in the development, production, sales and service of imaging, information, and healthcare products. It operates through the segments- Healthcare (medical systems, consumer healthcare, supplements, pharmaceuticals, bio CDMO, and regenerative medicine), Materials (advanced materials, graphic systems & inkjets, and recording media), and Imaging (photo imaging, optical device and electronic imaging). The company sells electronic materials, display materials, industrial products, and graphic communication materials under its Material segment. Photoresists are offered under electronic materials subcategory. The company has operations and office locations worldwide in North America, Latin America, Europe, Middle East, Africa, Asia, and Oceania. The company is headquartered in Tokyo, Japan.
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Resonac Holdings Corporation Resonac Holdings Corporation specializes in the production and sale of chemical products, operating across five distinct segments: Semiconductor and Electronic Materials, Mobility, Innovation Enabling Materials, Chemicals, and Others. Within the Semiconductor and Electronic Materials segment, the company offers Hard Disk (HD) media and SiC epitaxial wafers, dividing its operations into Semiconductor Materials, Device solutions (HD), and Device solutions (SiC). This segment caters to both front-end and back-end semiconductor needs, providing electronic chemicals, materials for mechanical semiconductor planarization (CMP slurry), die bonding materials, copper clad laminates, epoxy molding compounds, photosensitive solder resist, and photosensitive dry film. Notable products for Device solutions include hard disk media, compound semiconductors (LEDs), and SiC epitaxial wafers. In the fiscal year 2022, the Semiconductor and Electronic Materials segment generated USD 3,271 million in revenue, contributing to 30.7% of the company’s total revenue. Resonac Holdings Corp. was established by Nobuteru Mori on June 1, 1939, and is headquartered in Tokyo, Japan. In October 2020, Hitachi Chemicals underwent a name change, becoming Showa Denko Materials. Subsequently, on January 1, 2023, Showa Denko K.K. and Showa Denko Materials Co., Ltd. (previously Hitachi Chemical Co., Ltd.) underwent a merger, leading to the establishment of two distinct entities: a holding company named “Resonac Holdings Corporation” and a manufacturing company named “Resonac Corporation.” Geographically, the company classifies its geographic operations into four regions: Asia (excluding Japan), Japan, China, and Others. In FY2022, the Japan region accounted for 44.3% of the company’s revenue, followed by Asia (excluding China) (24.4%), China (13.7%), and Others (17.6%).
