Increasing Demand for Scaled-Down Devices of Wet Chemicals for...

Increasing Demand for Scaled-Down Devices of Wet Chemicals for Electronics and Semiconductor Applications Market

Posted 2024-02-02 11:28:53

The global wet chemicals for electronics and semiconductor applications market is estimated to be valued at US$ 2 Mn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: The wet chemicals for electronics and semiconductor applications market benefits from the growing demand for electronics products globally. The availability of high-performance wet chemicals enhances the productivity and yields of semiconductor manufacturing processes. Advances in liquid-based chemical etching and cleaning techniques have improved the precision and efficiencies.

Weakness: Frequent changes in environmental regulations regarding the use of hazardous chemicals increase compliance costs for market players. Strict safety norms and handling requirements of wet chemicals also add to production expenses. The market faces threats from the emergence of alternative dry processing technologies.

Opportunity: The growth of applications such as IoT, AI, 5G, and autonomous vehicles will drive the demand for more powerful and compact electronic devices. This expands opportunities for specialized wet chemicals that can facilitate nano-scale precision in chip manufacturing. Adoption of renewable chemicals offers new growth pathways.

Threats: Environmental concerns over the toxicity of certain chemical compounds pose regulatory risks. Geopolitical tensions and trade barriers can disrupt supply chains. Key players face pricing pressures from local and generic manufacturers.

Key Takeaways

The Global Wet Chemicals for Electronics and Semiconductor Applications Market Growth is expected to witness high. Rapid digitalization, proliferation of smart devices, and the rise of Industry 4.0 are fueling semiconductor consumption globally.

The Asia Pacific region currently dominates the market owing to the presence of leading chip manufacturers and electronic device producers in countries such as China, Taiwan, South Korea, and Japan. The region accounted for over 60% share of the global wet chemicals market in 2024

Key players operating in the wet chemicals for electronics and semiconductor applications market are Novartis AG, Merck & Co. Inc., F-Hoffmann La Roche, Eli Lilly and Company, Bayer AG, AstraZeneca, Astellas Pharma Inc., Amgen Inc., OSE Immunotherapeutics SA, and Bristol- Myers Squibb Company, among others. These major players are focusing on expanding their product portfolios and downstream manufacturing capacities to leverage the high growth opportunities. Partnerships with semiconductor fabricators and captive chemical units aid in maintaining continuity of supply.

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