Reports And Data
Electronic Materials and Chemicals Market Size – USD 57.09 Billion in 2019, Market Growth – CAGR of 6.4%, Market Trends – Rising demand for high-tech products.
NEW YORK, NY, UNITED STATES, August 15, 2022 /EINPresswire.com/ — The increasing consumer electronics market and advancements in technology are driving the need for the market.
The global Electronic Materials & Chemicals Market is forecast to reach USD 90.77 Billion by 2027, according to a new report by Reports and Data. Increasing commodity demand for semiconductor processing, flat panel displays, and photolithographic printing is expected to drive business growth. Growing demand for electronics around the globe and global IT industry progress will mark the growth of the worldwide market for electronic chemicals and materials as significant driving forces. The increasing trend towards the Internet of Things (IoT)-driven technologies is seen as a substantial supporter of increasing demands for integrated circuits (IC), printed circuit boards (PCBs), and other specialty chemicals and materials. Additionally, increased use of mobile gadgets, TVs, notebooks, computers, lighting systems, and several others make a significant contribution to the global growth of the market.
The products are a critical part of the production process for electronic products. Increasing technical advancements in electronic devices production due to increasing market demand for high-tech goods are projected to fuel demand for the drug over the forecast period.
Growing R&D programs that manufacturers employ to produce innovative electronic materials that offer superior performance are projected to be a core driver of growth over the forecast era. Increasing demand for electronic equipment with lower energy consumption is expected to raise competition for new electric equipment.
The COVID-19 impact:
Covid-19 ‘s spread has affected manufacturing activities worldwide. The industry has suffered a slowdown over the weeks and will continue over the months to come. This pandemic has reached the Asia Pacific area hardest, with China at the center of the epidemic. Some of the programs in many countries have come to a brief halt. Production and delivery were put on hold, which resulted in losses for suppliers, dealers, and customers. But the demand for electronics post-pandemic would not decrease; in fact, it is estimated that the market will grow because of the growing need for electronics in the medical sector as well.
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Further key findings from the report suggest
• The Gaseous form is expected to see the fastest growth of all types of electronic materials & chemicals due to its growing application reach in the manufacture of semiconductors and PCBs. The segment represented a market share of 8.72% in terms of revenues in 2019 and is expected to rise to a CAGR of 5.9%.
• The largest end-use market category was the semiconductor and integrated circuits, estimated at over USD 38.55 billion in 2019. Increasing demand for electronic goods like tablets, laptops, video recorders, and television sets is expected to fuel the market for semiconductors and integrated circuits, which in turn is expected to have a positive effect on the development of the industry.
• The Asia Pacific driven by China, India, and Japan’s production may record improvements in revenue with a CAGR of 6.4% by 2027. Rapid industrialization, combined with rising urbanization and increasing customer purchasing potential in the region, is projected to fuel demand for consumer products, which is expected to raise the retail market over the forecast period.
• Key participants 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., among others.
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For the purpose of this report, Reports and Data have segmented into the global Electronic Materials & Chemicals Market on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
• Silicon Wafers
• PCB Laminates
• Specialty gases
• Wet chemicals and solvents
End-use Outlook (Revenue, USD Billion; 2017-2027)
• Semiconductors & Integrated Circuits
• Printed Circuit Boards
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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