Electronic Wet Chemicals Market worth $5.4 billion by 2028 | Key players Avantor Inc. (US), BASF SE (Germany), Cabot Microelectronics (US).

According to recent market research the "Electronic Wet Chemicals Market by Type (Acetic Acid, Isopropyl Alcohol, Phosphoric Acid) Form (Liquid Form, Solid Form, Gas Form) Application (Semiconductor, IC Packaging, PCB), End-use Industry, And Region - Global Forecast to 2028", is 3.8 billion in 2023 and is projected to reach USD 5.4 billion by 2028, at a CAGR of 7.2% from USD 3.8 billion in 2023. The growth of electronic wet chemicals has been substantial, driven by several key factors that have propelled their demand and adoption. The proliferation of electronic devices across various industries, including consumer electronics, automotive, healthcare, and telecommunications, has significantly contributed to this growth. As these industries continue to advance, there's a parallel need for more sophisticated electronic components manufactured using precise wet chemical processes. Technological advancements, particularly in semiconductor and microelectronics manufacturing, have led to higher complexity in device architectures and materials, necessitating specialized wet chemicals to enable these intricate processes.

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The dominates the semiconductor industry as the primary application for electronic wet chemicals stems from the indispensable role these substances play in the intricacies of semiconductor manufacturing. In this sector, where the creation of integrated circuits demands precise and complex processes, wet chemicals emerge as fundamental tools. These chemicals facilitate critical procedures such as etching, cleaning, and material deposition on silicon wafers with unparalleled accuracy, enabling the formation of intricate circuit patterns crucial to semiconductor functionality. Moreover, the semiconductor realm demands utmost precision and uniformity, a feat achieved through wet chemical processes that ensure consistent treatment across vast manufacturing scales. With a diverse range of semiconductor materials requiring tailored chemical solutions, these substances offer selectivity, allowing precise interactions while safeguarding other materials-a vital aspect in semiconductor patterning and layering. Surface preparation, a pivotal stage in semiconductor production to prevent defects, relies significantly on wet chemicals to meticulously clean and prepare surfaces for subsequent processing steps. Supported by an industry that possesses extensive expertise and specialized infrastructure for handling these chemicals, the semiconductor sector's continuous quest for technological advancements further solidifies the critical reliance on electronic wet chemicals in driving innovation and progress within semiconductor manufacturing.

Acetic acid stands out as a leading type in the electronic wet chemicals market due to its multifaceted utility and compatibility across various critical processes within electronics manufacturing. Its versatility plays a pivotal role, serving diverse functions including cleaning, etching, and surface preparation, owing to its potent solvent properties adept at efficiently removing contaminants. Moreover, its cost-effectiveness compared to specialized alternatives renders it an economically attractive choice, contributing significantly to its widespread adoption in the industry. In semiconductor manufacturing, acetic acid finds favor for its compatibility with crucial processes involved in etching and cleaning semiconductor materials, making it indispensable in the production of integrated circuits and semiconductor devices. The controlled chemical properties of acetic acid, such as its adjustability in acidity and concentration, allow for precise and targeted application throughout various stages of electronic component fabrication. Its relatively safer handling compared to stronger acids further bolsters its preference, balancing effectiveness with safety considerations. With an established history in electronic manufacturing, regulatory compliance, and established effectiveness, acetic acid remains a stalwart choice, consistently maintaining its dominance as a preferred and widely used type within the electronic wet chemicals market.

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The Asia-Pacific region stands as the largest market for electronic wet chemicals, primarily driven by several interlinked factors that collectively fuel its dominance in this sector. A pivotal contributor to this status is the region's exponential growth as a global electronics manufacturing hub. Countries such as China, South Korea, Taiwan, and Japan have emerged as major centers for semiconductor fabrication and electronics assembly, consequently propelling substantial demand for electronic wet chemicals across various stages of manufacturing processes. Moreover, the Asia-Pacific region boasts an expanding consumer electronics market, fueled by a burgeoning middle class and increasing disposable income. This surge in demand for devices like smartphones, tablets, televisions, and other electronic gadgets directly correlates to the heightened need for wet chemicals in their production. Additionally, there has been a notable shift of semiconductor production to Asia-Pacific nations, further solidifying the region's pivotal role in driving the electronic wet chemicals market. This strategic relocation aligns with the region's expertise, infrastructural development, and capacity to cater to the soaring demand for semiconductors and electronic components. Collectively, these factors cement the Asia-Pacific region's position as the largest and most influential market for electronic wet chemicals, reflecting its pivotal role in the global electronics manufacturing landscape.

Key Players

The key players in this market are Avantor Inc. (US), BASF SE (Germany), Cabot Microelectronics (US), and Kanto Chemical Co. Inc. (Japan), Honeywell International, Inc. (US), Eastman Chemical Company (US), Linde Plc (Ireland), Solvay (Belgium), Fujifilm Corporation (Japan), and Technic Inc. (US)etc.

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Cabot Microelectronics is involved in the development, production, distribution, and sales of specialty chemicals and performance materials for semiconductors, pipeline & energy services, and industrial wood preservation markets. The company operates in two business segments - electronic chemicals and performance materials. It caters to the electronic wet chemicals market through the electronic chemicals business segment. Electronic materials provide products and solutions for the semiconductors industry. The electronic materials segment consists of CMP slurries and polishing pads businesses and KMG electronic chemicals business. The company generates 57% of the revenue from 5 electronics giants, out of which Samsung, Taiwan Semiconductor Manufacturing Company (TSMC), and SK Hynix Inc. contribute 18%, 12%, and 10%, respectively. The company has its operations in the US and European and Asian countries.

Honeywell International, Inc. is a software industrial company, which offers solutions to aerospace and automotive products and services. It operates through four business segments - aerospace, Honeywell building technologies, performance materials and technologies, and safety and productivity solutions. The company caters to the electronic wet chemicals market through the performance materials and technologies business segment. It offers high-purity and ultra-high-purity chemicals such as straight acids and bases, selective etchants and blends, solvents, and wafer thinning materials for the semiconductors and electronics industries.

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