Electronic Wet Chemicals Global Market Report 2024 - By Trends, Share, Demand, Industry Size, Outlook By 2033

The electronic wet chemicals market size has grown strongly in recent years. It will grow from $3.91 billion in 2023 to $4.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to semiconductor industry growth, investment in research and development, improved it infrastructure, rise in automotive sector, rise in disposable income.

The electronic wet chemicals market size is expected to see strong growth in the next few years. It will grow to $5.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to expanding demand for consumer electronics, growing industrial automation, emerging market, rise in urbanization. Major trends in the forecast period include environmental friendly wet chemical formulations, miniaturization and advanced packaging, smart manufacturing and iot integration, flexible electronics, materials data analytics.

Market Overview -
The electronic wet chemicals produce high-purity chemicals that are used in cleaning and etching applications during semiconductor production and processing. Electronic wet chemicals are used in the production of products in a variety of industries, including consumer goods, automotive, aerospace and defense, and medicine.

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Growing Ev Adoption Fuels Electronic Wet Chemicals Market
The increasing demand for electric vehicles is expected to propel the growth of the electronic wet chemicals market going forward. An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or autonomously by a battery. Electronic wet chemicals are used in the manufacturing of EVs in various ways, including the wet process of battery manufacturing, lubrication of electric motors, cleaning and etching of semiconductor components, and recycling of semiconductors and e-waste. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, increasing by 4%. Sales nearly doubled to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing demand for electric vehicles is driving the growth of the electronic wet chemicals market.

Competitive Landscape -
Major companies operating in the electronic wet chemicals market market include Avantor Inc., BASF SE, Cabot Microelectronics Corporation, Honeywell International Inc., Kanto Chemical Co. Inc., Eastman Chemical Company, Solvay S.A., Fujifilm Holdings Corporation, Technic Inc., Linde PLC, Air Products and Chemicals Inc., Mitsubishi Chemical Corporation, Daikin Electronic Devices Sdn. Bhd., T.N.C. Industrial Co. Ltd., Entegris Inc., Dow Inc., Sumitomo Chemical Co. Ltd., Songwon Industrial Co. Ltd., Merck KGaA, Shin-Etsu Chemical Co. Ltd., JSR Corporation, Tokyo Ohka Kogyo Co. Ltd., Adeka Corporation, Sumika Chemical Analysis Service Ltd., Nippon Kayaku Co. Ltd., JNC Corporation, Asahi Kasei Corporation, Mitsui Chemicals Inc., Showa Denko K.K., Hitachi Chemical Company Ltd., Nitto Denko Corporation

Introducing Complementary Green Solvents To Bring Eco-Friendly Boost To The Market
Major companies operating in the electronic wet chemicals market are focused on introducing complementary green solvents, such as AZ 910 Remover, to gain a competitive edge in the market. Green solvents, a subset of electronic wet chemicals, can be used in photolithographic processes to replace or supplement traditional chemicals, with the aim of reducing the environmental impact of semiconductor manufacturing. For instance, in July 2021, Merck & Co. Inc., a US-based pharmaceutical company, launched AZ 910 Remover, a new line of complementary green solvents for use in photolithographic processes in semiconductor manufacturing. It is a new collection of developed, NMP-free (N-methylpyrrolidone) based chemistries intended for a more rapid and economic breakdown of photoresist patterns. The portfolio's superior environmental impact, ease of use in a wide range of equipment, and good resist-dissolution performance are having a significant impact on the semiconductor wet chemical market. By stripping the resist with less than three times the solvent volume, AZ 910 Remover can save clients money and lessen the environmental impact of the materials that are dumped into the world's waste stream. These complementary green solvents are a subset of electronic wet chemicals that are chosen for their environmental and health-friendly characteristics.

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Key Segments -
The electronic wet chemicals market market covered in this report is segmented -
1) By Type: Acetic Acid (CH3OOH), Isopropyl Alcohol (IPA) (C3H8O), Hydrogen Peroxide (H2), Hydrochloric Acid (HCL), Ammonium Hydroxide (NH4OH), Hydrofluoric Acid (HF), Nitric Acid (HNO3), Phosphoric Acid (H3PO4), Sulfuric Acid (H2SO4)
2) By Form: Liquid, Solid, Gas
3) By Application: Semiconductor, Etching, Cleaning
4) By End-Use Industry: Consumer Goods, Automotive, Aerospace and Defense, Medical

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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