Global Electronic Chemicals Market Projected to Generate $35,866.5 Million and Grow at 6.3% CAGR During the 2019-2026 Analysis Timeframe | [209-Pages] Study by Research Dive
Electronic chemicals market expected to grow by 2026 due to rising product demand from manufacturing sector. Wet chemicals & solvents sub-segment predicted to be highly beneficial. Market in North America region is projected to be most progressive.
NEW YORK, March 29, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Electronic Chemicals Market, by Product type (Atmospheric and Specialty Gases, Photoresist Chemicals, Wet Chemicals & Solvents and Others), Application (Integrated Circuits & Semiconductors, Flat Panel Displays & Light Emitting Diodes, Photovoltaic, Printed Circuit Boards and Others), Regional Outlook (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026".
According to the report, the global electronic chemicals market is projected to generate a revenue of $35,866.5 million and grow at 6.3% CAGR during the 2019-2026 analysis timeframe.
Dynamics of the Market
Drivers: The growing demand for electronic chemicals for manufacturing semiconductors and other electronical components like flat panel displays and photolithographic printing is the main factor to drive the growth of the global electronic chemicals market during the forecast period.
Opportunities: Flourishing industries like manufacturing, food & cosmetics, automotive, textile, agriculture, aerospace, and many others is the prime factor to boost the demand for electronic chemicals and offer abundant growth opportunities for the global electronic chemicals market by 2026.
Restraints: Increasing chemical wastage used in manufacturing devices is the prime hindering factor for the market growth.
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Segments of the Market
The report has divided the global electronic chemicals market into different segments based on product type, application, and regional analysis.
- By product type, the wet chemicals and solvents sub-segment is estimated to hold a dominant market share and grow at 6.6% CAGR during the 2019-2026 forecast timeframe due to rising utilization of analytical chemistry that consists of classical methods to analyze chemical materials.
- By application, the printed circuit boards sub-segment of the global electronic chemicals market is anticipated to have the highest growth rate of 7.2% CAGR by 2026 due to the growing use of electronic chemicals for providing mechanical support to electronical components. Additionally, increasing use of printed circuit boards in medical devices, LEDs, consumer electronics, and industrial equipment is also predicted to bolster the sub-segment's growth by 2026.
- By regional analysis, the electronic chemicals market in the North America region is expected to witness immense growth opportunities and grow at 5.9% CAGR by 2026 due to growing manufacturing organizations of electrical chemicals along with the presence of prominent companies in the electronic industry across the region.
Key Market Players
Some key electronic chemicals market players include
- Hitachi Chemical Co. Ltd.
- MacDermid Inc
- Honeywell International Inc.
- Wacker Chemie AG BASF SE
- Sumitomo Chemical Co. Ltd
- Merck KGaA
- Solvay S. A.
- Air Liquide SA
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market enhancement.
For instance, in August 2022, Diversey Europe Operations B.V., a provider of infection prevention, hygiene, and cleaning solutions, announced its partnership with LG Electronics to boost the commercialization of the latter's washers and dryers in the UK and Ireland markets. This partnership will allow LG Electronics to use the former's leading chemical, dispensing, and engineering solutions to launch a new level of laundry programs in the UK and Ireland.
The report also summarizes many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about Electronic Chemicals Market:
- Electronic Chemicals: Different Types and the Current Market Scenario Due to COVID-19 Outbreak
- Rising Demand for Applications That Make Use of Electronic Chemicals to Surge the Market Growth
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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