CHICAGO, Sept. 17, 2020 /PRNewswire/ -- According to the new market research report "Electronic Wet Chemicals Market By Type, Form ( Solid Liquid, Gas), Application ( Semiconductor, IC Packaging, PCB),End-Use Industry (Consumer Goods, Automotive, Aerospace & Defence, Medical), And Region - Global Forecast To 2025" published by MarketsandMarkets™, the global Electronic Wet Chemicals Market size is expected to grow from USD 3.3 billion in 2020 to USD 3.9 billion by 2025, at a CAGR of 3.5%, during the forecast period.
The major factors driving the market include growing consumption of electronic wet chemicals in the emerging clusters of APAC is mainly because of the rising per capita expenditure on consumer electronics products such as smartphones, laptops and others and abundant availability of raw materials and cheap labor force, and growing demand from various end-use industries such as automotive and consumer goods.
Acetic Acid to dominate the global Electronic Wet Chemicals Market during the forecast period
The electronic wet chemicals industry has been segmented based on type as acetic acid, isopropyl alcohol hydrogen peroxide, hydrochloric acid, ammonium hydroxide, hydrofluoric acid, nitric acid, phosphoric acid, sulfuric acid and others. Acetic acid segment accounted for the larger share of the market in 2019. The growth in this segment is attributed to the increase in use in integrated circuits and it serve as one of the main substrates for microelectronics. These factors are expected to drive the demand for electronic wet chemicals during the forecast period.
Semiconductor segment to lead the global Electronic Wet Chemicals Market during the forecast period
The market has been segmented based on application into semiconductor, IC Packaging, PCB and others. The semiconductor segment accounted for the largest share of the market in 2019 and is expected to witness significant growth during the forecast period. The growth in this segment is attributed to increasing consumption in the advanced electronics and consumer goods such as smartphones, laptops and others in emerging economies such as APAC. Furthermore, the demand for semiconductor is increasing in flat panel display and automotive industry. These factors are expected to drive demand during the forecast period.
APAC is expected to have the largest market size in the global Electronic Wet Chemicals Market during the forecast period
APAC is projected to be the leading electronic wet chemicals industry globally during the forecast period. The growth in the APAC region can be attributed to the rising demand from consumer goods industry. The presence of several microelectronic devices manufacturers, favorable government policies, and low labor costs along with growing demand for electronic wet chemicals in the region are further strengthening the market and attracting major players to invest in the region.
The Avantor Inc (US), BASF SE (Germany), Cabot Microelctronics (US), Honeywell International Inc. (US), Kanto Chemical Co. Inc (Japan), Eastman (US), Solvay (Belgium), Fujifilm Holding (Japan), Technic Inc. (US), and Linde Plc. (Ireland) among others are the key players operating in the Electronic Wet Chemicals Market.
Electronic Chemicals and Materials Market By Type (Specialty Gases, CMP Slurries, Conductive Polymers, Photoresist Chemicals, Low K Dielectrics, Wet Chemicals, Silicon Wafers, PCB Laminates), Application, and Region - Global Forecast to 2024
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