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Introducing Complementary Green Solvents To Bring Eco-Friendly Boost To The Market Trend: A Crucial Influence on the Electronic Wet Chemicals Market's Transformation in 2025

02-21-2025 08:01 AM CET | Chemicals & Materials

Press release from: The Business Research Company

Electronic Wet Chemicals Market Size

Electronic Wet Chemicals Market Size

What combination of drivers is leading to accelerated growth in the electronic wet chemicals market?
The upsurge in the need for electric vehicles is predicted to stimulate the expansion of the electronic wet chemicals market in the future. An electric vehicle (EV) refers to a vehicle propelled by at least one electric motor. Propulsion could be facilitated either through a collector system, acquiring power from sources outside the vehicle or through a self-contained battery. Electronic wet chemicals find their applications in multiple facets of EV production, encompassing the battery manufacturing wet process, electric motors lubrication, semiconductor components cleaning and etching, and semiconductors and e-waste recycling. For instance, records from the International Energy Agency, an autonomous intergovernmental organization situated in France, in September 2022, revealed that electric car sales broke a new record in 2021 with a rise of 4%. With sales almost doubled, it amounted to 6.6 million compared to the figures of the preceding year, thus escalating the count of electric vehicles on the roads to 16.5 million. Consequently, the accelerating demand for electric vehicles is propelling the expansion of the electronic wet chemicals market.

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What is the projected compound annual growth rate (CAGR) of the electronic wet chemicals market from 2025 to 2034, and what factors influence it?
In the past few years, there has been robust growth in the size of the electronic wet chemicals market. The market is expected to expand from $4.16 billion in 2024 to $4.44 billion in 2025, marking a compound annual growth rate (CAGR) of 6.8%. Factors that contributed to the growth in the historical period include the expansion of the semiconductor industry, increased investment in research and development, enhancements in IT infrastructure, growth in the automotive sector, and a rise in disposable income.

The market size of electronic wet chemicals is projected to experience substantial growth in the upcoming years. By 2029, it is expected to expand to $5.81 billion, with a compound annual growth rate (CAGR) of 6.9%. This growth during the predicted period can be credited to the increasing demand for consumer electronics, expansion in industrial automation, emerging markets, and heightened urbanization. The principal trends for the forecast period comprise environment-friendly wet chemical formulations, miniaturization, and advanced packaging, integration of smart manufacturing and IoT, flexible electronics, and material data analytics.

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How are the latest trends influencing the growth of the electronic wet chemicals market?
Leading corporations within the electronic wet chemicals market, such as OCI Company Ltd., are centering their efforts on pioneering solutions such as ultrapure phosphoric acid intended for semiconductor production, to satisfy the stringent purity and performance criteria set by advanced semiconductor manufacturing processes. Ultrapure phosphoric acid for semiconductor production denotes a highly purified variant of phosphoric acid that's instrumental in the production of semiconductors. For example, OCI Company Ltd., headquartered in South Korea, made history by being the first South Korean producer to supply this crucial material to all its domestic semiconductor manufacturers, including SK Hynix. This high-purity phosphoric acid, vital in the etching processes of semiconductor wafer used in both DRAM and NAND flash chip production, was first shipped out in August 2024 subsequent to successful quality evaluations. OCI, with a yearly production capacity of 25,000 tons, aims to increase this to meet the escalating demand of the semiconductor industry, thereby enhancing its competitive edge in the market.

What are the major segments of the electronic wet chemicals market and their role in driving growth?
The electronic wet chemicals 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

Subsegments:
1) By Computer-Aided Engineering (CAE): Simulation and Analysis Software, Structural Analysis Tools, Thermal and Fluid Dynamics Simulation
2) By IC Physical Design and Verification: Layout Design Tools, Design Rule Checking (DRC) Software, Layout Versus Schematic (LVS) Verification Tools
3) By Printed Circuit Board and Multi-Chip Module (PCB and MCM): PCB Design Software, PCB Manufacturing Software, Multi-Chip Module Design Tools
4) By Semiconductor Intellectual Property (SIP): Standard Cell Libraries, Analog and Mixed-Signal IP, Digital Signal Processing (DSP) Cores

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Which regions are key players in the growth of the electronic wet chemicals market?
Asia-Pacific was the largest region in the electronic wet chemicals market in 2024 and is also expected to be the fastest-growing region in the electronic wet chemicals market during the forecast period. The regions covered in the electronic wet chemicals market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the key firms paving the way for growth in the electronic wet chemicals market?
Major companies operating in the electronic wet chemicals 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

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What Is Covered In The Electronic Wet Chemicals Global Market Report?

•Market Size Forecast: Examine the electronic wet chemicals market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the electronic wet chemicals market for a structured understanding.
•Key Players Overview: Analyze major players in the electronic wet chemicals market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electronic wet chemicals market.
•Segment Contributions: Evaluate how different segments drive overall growth in the electronic wet chemicals market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electronic wet chemicals market.
•Industry Challenges: Identify potential risks and obstacles affecting the electronic wet chemicals market.
•Competitive Landscape: Review strategic developments in the electronic wet chemicals market, including expansions, agreements, and new product launches.

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