Press release
Wet Chemicals Market Eyes on Trends Captivating the Dazzling Evolution of Markets
AMR
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Key Highlights from the Report:
- Forecast Period: 2022-2031
- Base Year: 2021
- Market Size in 2021: $3.2 Billion
- Market Size in 2031: $5.9 Billion
- CAGR: 6.3%
- Number of Pages in Report: 310
-Segments Covered: End-use Industry, Type, and Region
Drivers:
Increasing global population and rising demand for electric vehicles
Restraints:
Availability of alternative substitutes over harmful and toxic wet chemicals
Opportunities:
Recent commercialization of nano-based devices
COVID-19 Scenario:
The pandemic led to a rapid shift of consumers towards natural and bio-based wet chemicals, boosting the demand for such products. This trend is expected to persist even post-pandemic.
Market Analysis by Segment:
Product Type: The acids segment held nearly half of the global wet chemicals market revenue in 2021 and is expected to maintain dominance by 2031, with a forecasted fastest CAGR of 6.7%. Other segments include bases, solvents, and oxidizers.
Application: The semiconductor segment contributed to nearly two-fifths of the global wet chemicals market revenue in 2021 and is projected to dominate by 2031, with the fastest CAGR of 6.8%. Other segments include etching, cleaning, IC packaging, and PCB.
Region: The Asia-Pacific region accounted for nearly half of the global wet chemicals market in 2021 and is anticipated to continue dominating by 2031, with the fastest CAGR of 6.5%. Other regions analyzed include LAMEA, North America, and Europe.
Key Players:
Key market players analyzed in the report include BASF SE, Dow, Eastman Chemical Company, Rin Kagaku Kogyo Co. Ltd., Evonik Industries, Honeywell International Inc., Hubei Xingfa Chemicals Group Co. Ltd., Formosa Daikin Advanced Chemicals Co. Ltd., Kanto Kagaku, Mitsubishi Electric Corporation, Chang Chun Group, Santoku Chemical Industries Co. Ltd., Solvay Inc., Zhejiang Kaisn Fluorochemical Co. Ltd., and Yingpeng Chemical Co. Ltd. These players have adopted various strategies such as partnerships, expansions, collaborations, and joint ventures to strengthen their position in the industry.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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