The global electronics materials & chemicals market is expected to reach USD 81.05 billion by 2024, according to a new report by Grand View Research, Inc. Electronic materials & chemicals are an essential part of electronic device manufacturing process. Increasing technological advancements in manufacturing electronic products owing to rising consumer demand for high-tech goods is expected to propel demand for the product over the forecast period.
The consumer electronics segment is anticipated to drive market growth owing to significant demand particularly in emerging economies including India, Indonesia, and Vietnam. China is the largest manufacturer of consumer electronics and is a major consumer of semiconductors and PCB. This trend is expected to continue over the forecast owing to the growing emergence of low-cost manufacturers in the country.
Rising R&D initiatives employed by manufacturers to develop advanced electronic materials which provide superior performance is expected to be a key factor driving growth over the forecast period. Rising demand for electronic equipment with lower energy consumptions is likely to boost demand for use of new electronic Electronics such as organic and compound semiconductors. R&D related to synthesis of bio-based and biodegradable materials and chemicals for electronics industry is expected to drive the market growth.
The industry is characterized by the presence of numerous players with a strong foothold in the market. Fluctuating raw material prices and high competition is expected to pose a challenge for the industry players. Manufacturers are likely to establish production plants in the Asia Pacific in order to capitalize on high demand, low labor cost, land availability and abundant raw material availability in the region.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/electronic-materials-and-chemicals-market
Further key findings from the report suggest:
·
The market is segmented on the basis of product
including solid, liquid and gases. Gaseous type is likely to witness the
fastest growth among all type electronic materials & chemicals owing to its
rising application scope in semiconductor and PCB manufacturing. Adoption of
newer technologies for manufacturing electronic equipment such as atomic layer
deposition (ALD) and chemical vapor deposition process on the chips are likely
to open new avenues for growth over the next eight years.
·
Silicon wafer was the largest application
segment, accounting for over 40% of global electronic materials & chemicals
market revenue in 2015. The product is an essential part of semiconductors and
integrated circuits. Furthermore, rising demand for thin silicon wafers in
manufacturing solar cells is expected to be a key factor for the industry
growth.
·
Semiconductor and integrated circuits were the
major end-use application segment, valued at over USD 32 billion in 2015.
Growing demand for consumer products such as smartphones, computers, video
recorders and television sets is expected boost semiconductors and integrated
circuits market, which in turn is anticipated to have a positive impact on the
industry growth.
·
Asia Pacific dominated the electronic materials
& chemicals market in 2015, accounting for over 65% of the global market.
Rapid industrialization coupled with increasing urbanization and rising
spending consumer capacities in the region are likely to boost demand for
consumer goods, which in turn is expected to increase demand for the market
over the forecast period. Furthermore, increasing demand for smartphones,
wearable electronics gadgets and tablets especially among the young population
is expected to be the key factors driving growth.
·
Key players in the industry include Air Products
& Chemicals Inc., Ashland Inc., Air Liquide Holdings Inc., BASF Electronic
Chemicals, Honeywell International Inc., Cabot Microelectronics Corporation, Linde
Group, KMG Chemicals Inc., Fujifilm Electronic Materials, Kanto Chemical Co.,
Inc. and Tokyo Ohka Kogyo Co., Ltd.
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Grand View Research has segmented the electronic materials & chemicals market on the basis of product, application, end-use and region:
Electronic Materials & Chemicals Market Product Outlook (Revenue, USD Million, 2013 - 2024)
·
Solid
·
Liquid
·
Gaseous
Electronic Materials & Chemicals Market Application Outlook
(Revenue, USD Million, 2013 - 2024)
·
Silicon wafers
·
PCB Laminates
·
Specialty gases
·
Wet chemicals and solvents
·
Photoresists
·
Others
Electronic Materials & Chemicals Market End-Use Outlook
(Revenue, USD Million, 2013 - 2024)
·
Semiconductors & Integrated Circuits
·
Printed Circuit Boards
Electronic Materials & Chemicals Market Regional Outlook (Revenue,
USD Million, 2013 - 2024)
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North America
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U.S.
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Canada
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Mexico
·
Europe
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Germany
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UK
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Asia Pacific
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China
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Japan
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India
·
Latin America
·
Brazil
·
Middle East and Africa
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
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