What Has Been the Growth of the Semiconductor Chemical Market So Far?
The semiconductor chemical market has seen considerable growth due to a variety of factors.
• The semiconductor chemical market has grown at a strong pace, expected to rise from $11.95 billion in 2024 to $13.48 billion in 2025, with a CAGR of 12.8%.
Factors driving this growth include the adoption of cloud computing, expansion of renewable energy technologies, increased semiconductor use in healthcare, rising demand for wearable devices, and the expansion of industrial automation.
What Are the Future Growth Projections for the Semiconductor Chemical Market?
The semiconductor chemical market is expected to maintain its strong growth trajectory in upcoming years.
• The semiconductor chemical market is expected to reach $21.54 billion by 2029, growing at a CAGR of 12.4%.
This growth is due to increased demand for consumer electronics, IoT, automotive electronics, data centers, and 5G networks. Trends include advancements in semiconductor technology, AI, machine learning, electronic device miniaturization, quantum computing, and display technology advancements.
What Are The Core Factors Supporting Growth In The Semiconductor Chemical Market?
The surge in electric vehicle usage is predicted to drive the expansion of the semiconductor chemical market. As opposed to gasoline or diesel-engined vehicles, electric vehicles (EVs) are powered by rechargeable battery-operated electric motors. The adoption of EVs has been multiplying due to their eco-friendly advantages, reduced running expenses, advancements in EV battery technology, and escalating government incentives aimed at cutting down on greenhouse gas emissions. Electric vehicles necessitate semiconductor chemicals for production and optimization of vital electronic parts, such as energy management systems, battery controllers, and cutting-edge driver-assistance systems (ADAS). A report by the International Energy Agency, a France-based international organization, revealed in April 2023, over 10 million EVs were sold worldwide in 2023, with a 35% anticipated rise in sales this current year to hit 14 million. By 2030, EV sales are projected to comprise nearly 60% of total vehicle sales in China, the EU, and the USA. Thus, the escalating prevalence of electric vehicles is stimulating growth in the semiconductor chemical market.
What Are The Major Segments Within The Global Semiconductor Chemical Market?
The semiconductor chemical market covered in this report is segmented –
1) By Type: Acid And Base Chemicals, Adhesives, Solvents, High-Performance Polymers
2) By Application: Cleaning Chemicals, Etching Chemicals, Photoresist Chemical, Deposition Chemicals, Other Applications
3) By End-Users: Discrete Semiconductor, Integrated Circuits
Subsegments:
1) By Acid And Base Chemicals: Hydrofluoric Acid (HF), Nitric Acid (HNO3), Sulfuric Acid (H2SO4), Phosphoric Acid (H3PO4), Ammonium Hydroxide (NH4OH), Potassium Hydroxide (KOH)
2) By Adhesives: Epoxy-Based Adhesives, UV-Curable Adhesives, Silicone-Based Adhesives, Conductive Adhesives, Non-Conductive Adhesives
3) By Solvents: Acetone, Isopropyl Alcohol (IPA), N-Methyl-2-Pyrrolidone (NMP), Dimethylformamide (DMF), Toluene, Methanol
4) By High-Performance Polymers: Polyimide (PI), Fluoropolymers (PTFE, PFA), Polyurethane (PU), Polyphenylene Sulfide (PPS), Polyether Ether Ketone (PEEK), Polycarbonate (PC)
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Which Emerging Market Trends Are Altering The Semiconductor Chemical Industry?
Key firms in the semiconductor chemicals market are forming strategic alliances to create solid chemical supply networks for global semiconductor producers. These strategic alliances enable companies to leverage each other's abilities and resources for mutual benefits and progression. For example, in July 2022, Lam Research Corp., an American semiconductor firm, partnered with Entegris Inc., another US-based provider of materials for the semiconductor industry, and Gelest Inc., an American chemical company. The goal of this partnership is to offer reliable access to precursor chemicals for Lam’s pioneering dry photoresist technology used in extreme ultraviolet (EUV) lithography, vital for creating advanced semiconductors. By focusing their collaborative efforts on research and development for EUV dry resist technology, they aim to progress future generations of logic and DRAM products, with applications in machine learning, artificial intelligence, and mobile devices. This ongoing collaboration is set to boost the supply chain for process chemicals, incorporate EUV dry resist technology into large-scale production, and broaden the ecosystem for dry resist technology, offering a dual-source supply and guaranteeing sustained distribution across worldwide markets.
Who Are the Key Players In The Semiconductor Chemical Market?
Major companies operating in the semiconductor chemical market are:
• SK Inc.
• BASF SE
• Dow Chemical Co.
• Honeywell International Inc.
• Merck KGaA
• Sumitomo Chemical Co. Ltd.
• Fujifilm Holdings Corporation
• Parker Hannifin Corp.
• Solvay SA
• Air Products and Chemicals Inc.
• DuPont de Nemours Inc.
• Kao Corporation
• Eastman Chemical Company
• Avantor Inc.
• Cabot Corporation
• Linde Plc
• Mitsubishi Chemical Corporation
• Oci Company Ltd.
• JSR Corporation
• Tokuyama Corporation
• Nippon Kayaku Co. Ltd.
• Tokyo Ohka Kogyo Co. Ltd.
• Kanto PPC
• Foosung Co. Ltd.
• Ami Organics Ltd
What Is The Most Dominant Region In The Semiconductor Chemical Market?
Asia-Pacific was the largest region in the semiconductor chemical market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the semiconductor chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
