Electronic chemicals are chemicals employed in the production of electronic components and equipment. Electronic chemicals include chemicals in solid, liquid and gaseous forms. Some of the raw materials used in the production of electronic chemicals include silicon, fluorine and bisphenol, among others.
Demand for electronic chemicals is profoundly dependent on macroeconomic factors such as GDP growth. High growth in emerging economies, mainly in the Asia Pacific region, has been among the foremost factors driving the electronic chemicals market growth. There has been a surge in demand for smartphones across the globe. The smartphone market accounted for 22% of the global mobile phone market in 2010. However, at the end of 2013, the smartphone market accounted for about 55% of the mobile phones market. The growing demand for smartphone reflects in the fact that besides smartphone industry leaders such as Samsung, Apple and Nokia, Lenovo, the top PC manufacturer in 2013, sold more tablets and smartphones than PCs. The increasing demand for smartphones is among major factors driving demand for electronic chemicals. There has been a surge in the global solar energy market and this trend is anticipated to continue during the forecast period. Increasing consumer awareness, coupled with government incentives to promote the use of solar energy, is expected to drive solar energy market growth in the coming years. This high growth in the solar energy market is anticipated to drive the demand for electronic chemicals during the forecast period. Hybrid electric vehicles are expected to offer huge growth opportunity for electronic chemicals market during the forecast period.
Based on the product segment, electronics chemicals market has been bifurcated into six segments: wafers, gases, CMP, wet chemicals, photoresists and others. Wafers dominate the global electronic chemicals market and this trend is anticipated to continue during the forecast period. CMP is expected to be the fastest growing product segment for the next six years. Others product segment comprises niche segments such as low k dielectric, laminates, etc. Based on its applications, electronic chemicals market has been segregated into three application segments: semiconductors & IC, PCB and others. In 2013, semiconductors & IC dominated the global demand for electronic chemicals and this trend is expected to continue during the forecast period. PCB is anticipated to be the fastest growing application segment during the forecast period.
Asia Pacific dominated the global electronics chemicals market with market share of over 60% in 2013, this trend is anticipated to continue for a foreseeable future. High GDP growth in the emerging economies of India and China leading to growth in several end use industries such as consumer electronics is expected to drive demand for electronic chemicals in Asia Pacific. North America was the second largest market for electronic chemicals in 2013. The demand for electronic chemicals in North America is anticipated to grow at a sluggish rate during the forecast period primarily owing to market saturation in several end user industries. Moreover, increasing number of environmental regulations is expected to hamper market growth in North America and Europe. RoW is anticipated to be the fastest growing region for electronic chemicals market for the next six years. High growth in the developing economies of South America and Africa is anticipated to drive demand for electronic chemicals in the RoW region.
The electronic chemicals market is fragmented in nature, with the top five players constituting over 30% of the global market share. Therefore, the market is characterized by high price sensitivity. Major end-use industries include consumer electronics, defense and automobiles among others. Buyers enter into long-term agreements with electronic chemicals manufacturers for customized solutions. Moreover owing to environmental regulations, major players have increased their investment in research and development activities. Major players in the electronic chemicals market include Albemarle Corporation, BASF SE, Bayer MaterialScience, Huntsman Corporation and The Dow Chemical Company.
Demand for electronic chemicals is greatly dependent on factors such as the GDP growth of countries and therefore the high GDP in developing countries, particularly in the Asia Pacific region, has been the key factor fuelling the growth of the electronic chemicals market.
This research study presents a crisp evaluation of the market for electronic chemicals and presents the size of the market in US$ bn and displays the market’s forecast from 2014 to 2020. The report is a compilation of market restraints, market trends, and drivers. The growth opportunities in the market for electronic chemicals are also a part of this study.
The report compiles and demonstrates the market potential and categorizes the electronic chemicals market by products, applications, and regions. An extensive evaluation of the strategies of the key stakeholders and the various imperatives in order to gain success in the electronic chemicals market also are a part of this report.
Overview of Global Electronic Chemicals Market
Electronic chemicals are chemicals utilized in making equipment and electronic components. They comprise chemicals in forms such as liquid, solid, and gaseous. There are a number of chemicals utilized in the making of electronic chemicals such as bisphenol, silicon, and fluorine, among others.
On the basis of product, the electronic chemicals market is segmented into CMP, gases, wafers, photoresists, wet chemicals, and others. Amongst these, wafers dominate the global market for electronic chemicals and are predicted to maintain their superiority throughout the forecast horizon. The CMP product segment is predicted to be the most swiftly growing segment in the coming six years. The others product segment includes niche segments such as laminates, low-k dielectrics, etc.
On the basis of application, the electronic chemicals market is segmented into PCB, semiconductors and IC, and others. Amongst these, semiconductors and IC led the market in 2013 and will maintain the lead in the forecast horizon. On the other hand, the PCB application segment is predicted to be the most swiftly developing segment in the forecast horizon.
The increasing demand for smartphones nowadays has also positively affected the electronic chemicals market. In addition, the rise in consumer awareness along with government incentives for the promotion of solar energy utilization will fuel the market for solar energy in the forthcoming years. This growth of the solar energy market is predicted to stimulate the demand for electronic chemicals in the forecast horizon.
On the basis of geography, the electronic chemicals market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, Asia Pacific led the global market for electronic chemicals, representing a share of more than 60% in 2013, and is expected to maintain its superiority in the coming years. The same year, North America trailed Asia Pacific and constituted the second biggest share in the market. However, in this region, the demand for electronic chemicals is expected to increase at a sluggish rate in the forecast horizon, due to market saturation in a number of end-user industries.
Key players in the Electronic Chemicals Market
BASF SE, Albemarle Corporation, Huntsman Corporation, Bayer MaterialScience, and The Dow Chemical Company are the prime players operating in the market.
Major geographies analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments