LONDON, May 10, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the electronic wet chemicals market, the rise in demand for the use of semiconductors in various industries is driving the growth of the electronics wet chemicals market. The demand for innovative semiconductors is increasing as a result of various technological advancements in the electronic industry. This increase in demand for semiconductors is directly leading to the increase in demand for the electronic wet chemicals market. For instance, according to the semiconductor industry association (SIA), the sales of semiconductors were around $50 billion in October 2021, an increase of 24.6% from October 2020. Therefore, the rise in the demand for the use of semiconductors in various industries drives the electronic wet chemicals market.
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The global electronic wet chemicals market share is expected to grow from $3.46 billion in 2021 to $3.62 billion in 2022 at a compound annual growth rate (CAGR) of 4.56%. The growth in the market is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global electronic wet chemicals market growth is expected to reach $4.41 billion in 2026 at a CAGR of 5.05%.
Strategic collaboration between companies is a key trend gaining popularity in the electronic wet chemicals market. Companies manufacturing electronic wet chemicals are undergoing partnerships and collaborations to develop new technologies and products. For instance, in January 2020, Solvay, a company operating in electronic wet chemicals based in Belgium, and SGL Carbon, a company specializing in manufacturing carbon fiber based in Germany, partnered to create new composites for aerospace. This partnership extends the portfolio of Solvay in the composites segment and can tackle the needs of aerospace.
Major players in the electronic wet chemicals market are: Avantor Inc. (US), BASF SE (Germany), Cabot Microelctronics (US), Honeywell International Inc. (US), Kanto Chemical Co., Inc. (Japan), Eastman (US), Solvay (Belgium), Fujifilm Holding (Japan), Technic Inc. (US), Linde Plc. (Ireland), Air Products and Chemicals Inc., Mitsubishi Chemical Corporation, Dakin, and T.N.C. Industrial Co., Ltd.
The global electronic wet chemicals industry analysis is segmented by type into 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); by form into liquid, solid, gas; by application into semiconductor, etching, cleaning; by end-use industry into consumer goods, automotive, aerospace and defense, medical.
Asia-Pacific was the largest region in the electronic wet chemicals market in 2021 and is also expected to be the fastest-growing region in the global electronics wet chemicals market during the forecast period. The regions covered in the global electronics wet chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Electronic Wet Chemicals Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide electronic wet chemicals market overviews, electronic wet chemicals market analyze and forecast market size and growth for the whole market, electronic wet chemicals market segments and geographies, electronic wet chemicals market trends, electronic wet chemicals market drivers, electronic wet chemicals market restraints, electronic wet chemicals market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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