Electronic Chemicals and Materials Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $64,919 million by 2022, registering a CAGR of 6.1% during the period 2016-2022. The wafer fabrication application segment occupied the major (revenue) share in 2015 and is expected to maintain its lead throughout the analysis period. Silicon wafers is the most common type of wafer fabrication material used globally, and accounts for about 17% market share.
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The demand for electronic chemicals and materials has increased owing to growth in technological advancements and increase in demand from applications, namely, photovoltaics, integrated circuits, printed circuit boards for electronic gadgets such as mobiles, laptops, computers, tablets, LED bulbs, and others. There is a shift towards advanced technology nodes that drives the market for wafer fabrication chemicals and materials. Other factors that drive the market growth include strict environmental regulations, increase in the consumption of IC process chemical, technological innovations, supporting environmental regulations, increasing demand for electronics, and rapid economic growth in emerging countries.
Furthermore, stringent regulations have led to increased adoption of electronic chemicals and materials for many applications namely photovoltaics, flat panel displays, and LED bulbs. Electronic chemicals and materials in the wafer fabrication application occupied more than half of the total market in 2015 and is expected to continue its dominance throughout the forecast period. Within packaging application, the organic substrate segment accounted for one-third of the market share as it is used for OLED displays that require low forward voltage, high luminance efficiency, and low reverse current. This segment is expected to continue its dominance in the packaging electronic chemicals and materials application market.
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Key Findings of the Electronic Chemicals and Materials Market
• Wafer fabrication application occupied the highest share in 2015 and is expected to grow with a CAGR of 6.4% during the forecast period.
• Silicon wafers dominated the wafer fabrication application market in 2015 and is projected to maintain its lead throughout.
• The gases segment is expected to grow with the highest CAGR of 7.1%.
• Taiwan is the leading consumer of the electronic chemicals and materials in the Asia-Pacific region followed by South Korea.
• In packaging application segment, lead frames is expected to grow at the highest CAGR of 6.2%.
Asia-Pacific accounted for more than half of the total electronic chemicals and materials market in 2015 and is expected to maintain its lead position throughout the forecast period. This is attributable to the increase in domestic production of automotive electronics, and usage of electronics such as mobiles, TV sets, laptops, tablets, LED bulbs due to increase in the expenditure of the consumers spending in this region.
The prominent players profiled include BASF SE, The Dow Chemical Company, JSM Corporation, Fujifilm, KMG Chemicals, Air Products and Chemicals Inc, Albemarle Corporation, Merck KGaA. Huntsman International LLC, and Honeywell International Inc.
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