Virtual Reality, Machine Learning, and Artificial
Intelligence Boom Set to Drive Need for Advanced Electronic
Chemicals & Materials.
ROCKVILLE, Md., July 11,
2024 /PRNewswire/ -- According to an updated research
report by Fact.MR, the global Electronic Chemicals &
Materials Market is projected to increase from a size of
US$ 71.7 billion in 2024 to
US$ 127.1 billion by the end
of 2034, which is equal to market expansion at a CAG of 5.9%
from 2024 to 2034.
Electronic chemicals and materials are key to the rising needs
of the booming electronics sector. This market is all about various
products and materials for electronic device manufacturing such as
semiconductors, printed circuit boards, displays, and batteries.
The market is thriving due to high demand from microelectronics and
chip-making industries globally. Circuit assembly, and
semiconductor manufacturing, among others, are some of the
operations that depend on different types of specialized substances
in these sectors.
Market growth is also being driven by the constant rise is the
use of electronic devices in the automotive, industrial, and
consumer sectors across the world. Technological advancements are
leading to smaller, quicker, and high-performing electronic
components, which are also complementing market progress.
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Report:
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Key Takeaways from the Electronic Chemicals & Materials
Market Study:
- The global electronic chemicals & materials market is
projected to expand at a CAGR of 5.9% and reach US$ 127.1 billion by 2034.
- The market in North America is
projected to expand at a CAGR of 6.3% and offer an absolute
opportunity of US$ 20.9 billion by
2034.
- East Asia is set to account
for 26.8% of the global market share in 2024 and generate an
absolute dollar opportunity of US$ 15.8
billion between 2024 and 2034.
- Between 2024 and 2034, the semiconductors & ICs segment is
expected to create an absolute dollar opportunity of US$ 37.9 billion.
- With a 34.9% market share, the silicon wafers segment is
estimated to be worth US$ 25 billion
in 2024.
- The electronic chemicals & materials market in China is forecasted to expand at 6.2% CAGR
through 2034.
"Companies should look toward North America and East Asia since these two regional markets
together account for close to two-thirds share of worldwide
revenue," says a Fact.MR analyst.
Electronic Chemicals & Materials Industry News:
Key companies manufacturing electronic chemicals & materials
are BASF Electronic Chemicals, Air Products & Chemicals Inc.,
Albemarle Corporation, Bayer AG, Honeywell International Inc.,
Linde plc, Resonac Holding Corporation, DuPont de Nemours, Inc.,
Shin-Etsu Chemical Co. Ltd., Cabot Microelectronics Corporation,
Solvay S.A., Covestro AG, Global Wafers, Fujifilm Corporation, and
Air Liquide.
Companies are resorting to product releases, mergers &
acquisitions, expansions, and strategic deals among themselves to
strengthen their position in the electronic chemicals and materials
market.
- In Jan 2023, The Linde Plc
acquired the remaining 77.2% of nexAir, LLC, making it one of the
largest independent suppliers of industrial gases in the
country.
- In Dec 2022, Air Liquide signed a
long-term contract with Kumho Mitsui Chemicals Corporation to
supply additional hydrogen and carbon monoxide for the expansion of
its 50% methyl diphenyl diisocyanate (MDI) production.
- Resonac Corporation and Matmerize Inc., a start-up that creates
novel materials using artificial intelligence (AI), partnered in
September 2023. This partnership aims
to transform the process of developing new semiconductors so that
6G technologies can use them.
- A new line of flexible and rigid-flex printed circuit boards
(FPCBs) with polyimide sheets resistant to high temperatures was
unveiled by DuPont in 2022. These new films, called Kapton HT, can
withstand temperatures of up to 300°C, making them suitable for
usage in abrasive environments like automotive and aerospace.
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More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of
the global electronic chemicals & materials market, presenting
historical data for 2019 to 2023 and forecast statistics for 2024
to 2034.
The study reveals essential insights based on product type
(silicon wafers, photoresists, specialty glass, wet processing
chemicals, PCB laminates, other types) and application
(semiconductors & ICs, PCB), across major seven regions of the
world (North America, Latin America, Western Europe, Eastern Europe, East
Asia, South Asia &
Pacific, and the Middle East &
Africa).
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SOURCE Fact.MR