Wet Chemicals for Electronics and Semiconductor Applications Market to Cross $5.39 Billion by 2032, Driven by Increasing Demand and Industry Expansion

Increasing demand for high-purity chemicals essential for the manufacturing of semiconductors and electronic components, driven by the ongoing miniaturization of devices and the rise of advanced technologies.

Pune, Oct. 10, 2024 (GLOBE NEWSWIRE) — Market Size & Growth Outlook:

According to the SNS Insider, “The Wet Chemicals for Electronics and Semiconductor Applications Market was valued at USD 3.9 Billion in 2023 and expected to reach at USD 5.39 Billion by 2032 and grow at a CAGR of 3.68% over the forecast period 2024-2032.

Fueling Expansion in Wet Chemicals through Innovations in Electronics and Semiconductors

The expanding electronics and semiconductor industries are the primary drivers of growth in the wet chemicals market. As consumer electronics become increasingly complex, manufacturers are increasingly focused on developing innovative materials and processes. Wet chemicals, including etchants, photoresists, and cleaning agents, play a vital role in semiconductor fabrication, enabling high precision and efficiency in manufacturing. Additionally, the surge in demand for electric vehicles (EVs) and renewable energy technologies is further boosting the need for advanced semiconductor applications, thereby propelling the growth of the wet chemicals market. The integration of Internet of Things (IoT) devices and artificial intelligence (AI) into consumer products is also expected to enhance the market’s expansion as these technologies necessitate advanced materials for optimal performance.

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Dominant Market Players Listed in this Research Report are:

  • BASF SE – (Acids, etchants, cleaning agents for semiconductor manufacturing)
  • Kanto Chemical Co., Inc. – (High-purity chemicals, photoresists, and etching solutions)
  • Solvay S.A. – (Hydrogen peroxide, etching chemicals, and cleaning agents)
  • Linde plc – (High-purity specialty gases and chemicals for etching and cleaning processes)
  • Avantor, Inc. – (High-purity acids, solvents, and process chemicals)
  • Honeywell International Inc. – (Etching solutions, cleaning agents, and high-purity chemicals)
  • Eastman Chemical Company – (High-performance solvents and cleaning chemicals)
  • Technic Inc. – (Chemical solutions for etching and metal deposition in semiconductors)
  • Wako Pure Chemical Industries, Ltd. – (Reagents, cleaning chemicals, and etchants)
  • Fujifilm Group – (High-purity chemicals, photoresists, and cleaning solutions)
  • Entegris, Inc. – (Specialty cleaning and etching chemicals for semiconductor manufacturing)
  • Ashland Global Holdings Inc. – (Specialty solvents and cleaning agents for electronics)
  • Merck KGaA – (High-purity wet chemicals, solvents, and etching solutions)
  • Mitsubishi Chemical Corporation – (High-purity acids, etching chemicals, and cleaning agents)
  • Cabot Microelectronics Corporation – (CMP slurries, etching solutions, and cleaning chemicals)
  • Sumitomo Chemical Co., Ltd. – (Photoresists, etchants, and high-purity wet chemicals)

Wet Chemicals for Electronics and Semiconductor Applications Market Report Scope:

Report Attributes Details
Market Size in 2023 USD 3.9 Billion
Market Size by 2032 USD 5.39 Billion
CAGR CAGR of 3.68% From 2024 to 2032
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Product (Acetic Acid, Hydrogen Peroxide, Hydrochloric Acid, Ammonium Hydroxide, Nitric Acid, Sulfuric Acid, Phosphoric Acid, Others)
• by Application (Cleaning, Etching, PCB Manufacturing, Integrated Circuit, Others)
Key Drivers • Strategic Investments and Their Impact on the Wet Chemicals  for Electronics and Semiconductor Applications Market
• Regulatory compliance is motivating sustainable practices in the wet chemicals for electronics and semiconductor applications market

Unveiling Opportunities in the Wet Chemicals for Electronics and Semiconductor Applications Market

The Wet Chemicals for Electronics and Semiconductor Applications (WCESM) market is witnessing robust growth, propelled by the soaring demand for high-performance electronic components and semiconductor manufacturing. Key drivers include the rise in semiconductor production, especially in Asia Pacific, which accounts for over 60% of the global market. Government investments in countries like India are enhancing domestic capabilities and reducing reliance on imports. Additionally, the focus on sustainability is fostering innovation in eco-friendly wet chemical formulations. Leading companies are enhancing their high-purity product offerings, ensuring the WCESM is well positioned for substantial future growth amid evolving market demands.

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Acetic Acid and Cleaning Solutions: Driving Sustainability in the Wet Chemicals for Electronics and Semiconductors application market

Acetic acid is pivotal in the Wet Chemicals for Electronics and Semiconductor Applications market, accounting for around 23% of revenue in 2023. Its role as a solvent and reactant in semiconductor fabrication is vital, particularly in photolithography, where it facilitates precise etching on semiconductor wafers. The demand for high-purity acetic acid is surging due to advancements in semiconductor technology and the expanding electronics sector, including consumer electronics and IoT devices. Additionally, the industry’s shift towards eco-friendly practices reinforces acetic acid’s position as a sustainable alternative to harsher solvents, driving its adoption in Wet Chemicals for Electronics and Semiconductor Applications Market

Cleaning applications accounted for approximately 35% of the Wet Chemicals for Electronics and Semiconductor Applications market in 2023, highlighting their vital role in maintaining semiconductor device integrity. Effective cleaning removes contaminants like dust, organic residues, and metal particles from wafers and substrates, ensuring high manufacturing standards. Contaminants can impair electrical properties and overall functionality, leading to defects and reduced yield. The demand for advanced, eco-friendly cleaning solutions is rising, with companies like Merck KGaA and Enviro Tech Chemical Services developing specialized formulations that prioritize contaminant removal while adhering to sustainability goals. Additionally, firms such as Tokyo Ohka Kogyo Co. (TOK) are investing in research to enhance cleaning efficiency through advanced technologies and automation.

Regional Dynamics in the Wet Chemicals for Electronics and Semiconductor Applications Market

In 2023, the Asia-Pacific region led the Wet Chemicals for Electronics and Semiconductor Applications market, accounting for approximately 40% of the total revenue. This dominance is driven by a robust semiconductor manufacturing ecosystem, with key players like TSMC and Samsung benefitting from strong infrastructure and skilled labor. The rapid expansion of the electronics sector in China, Japan, and South Korea also fuels the demand for high-quality wet chemicals, vital for consumer electronics production. Increased investment in research and development promotes innovation in wet chemical solutions, while stringent environmental regulations encourage manufacturers to adopt eco-friendly alternatives, supported by government initiatives to strengthen the semiconductor industry.

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In 2023, North America emerged as the fastest-growing region in the wet chemicals for electronics and semiconductor applications market, capturing approximately 25% of the global market share. This rapid growth is fueled by several factors, including North America’s status as a hub for technological innovation in areas like 5G, artificial intelligence, and IoT. The demand for high-purity wet chemicals required for cleaning, etching, and doping processes has surged alongside the need for more sophisticated semiconductor devices. Additionally, ongoing investments in research and development are enhancing production capabilities, while stricter environmental regulations drive companies toward eco-friendly alternatives. Government initiatives, including subsidies and infrastructure investments, further stimulate market expansion.

Recent Development

  • In May 2023, Fujifilm made a final deal to purchase Entegris’ Electronic Chemicals division for $700 million, with adjustments as needed. The agreement is expected to be finalized by the conclusion of 2023, pending approval from regulators and standard closing requirements. Electronic Chemicals is a business that specializes in selling highly specific chemicals to the semiconductor industry.
  • In June 2023, Clariant Oil Services introduced PHASETREAT WET, a new and eco-friendly demulsification method for the oil and gas sector. PHASETREAT WET utilizes nanoemulsion technology to lower carbon emissions and demulsifier dosages by as much as 75%.

Table of Contents – Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Wafer Production Volumes, by Region (2023)

5.2 Chip Design Trends (Historic and Future)

5.3 Fab Capacity Utilization (2023)

5.4 Supply Chain Metrics

6.  Competitive Landscape

7. Wet Chemicals for Electronics and Semiconductor Applications Market Segmentation, by Product

8. Wet Chemicals for Electronics and Semiconductor Applications Market Segmentation, by Application

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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