According
to a new report published by Allied Market Research, titled, "Electronic
Chemicals and Materials Market by Type, and Application - Global Opportunity
Analysis and Industry Forecast, 2014 - 2022," the electronic chemicals and
materials market was valued at $43,510 in 2015 and is expected to
reach $64,919 million by 2022 with a CAGR of 6.1% from 2016 to 2022.
The wafer fabrication application segment occupied the major (revenue) share in
2015 and is expected to maintain its lead throughout the analysis period.
Silicon wafers is the most common type of wafer fabrication material used
globally, and accounts for about 17% market share.
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The
demand for electronic chemicals and materials has increased owing to growth in
technological advancements and increase in demand from applications, namely,
photovoltaics, integrated circuits, printed circuit boards for electronic
gadgets such as mobiles, laptops, computers, tablets, LED bulbs, and others.
There is a shift towards advanced technology nodes that drives the market for
wafer fabrication chemicals and materials. Other factors that drive the market
growth include strict environmental regulations, increase in the consumption of
IC process chemical, technological innovations, supporting environmental
regulations, increasing demand for electronics, and rapid economic growth in
emerging countries.
According
to Eswara Prasad, Team Lead, Chemical Research at Allied Market Research,
"Silicon wafers would continue to be the leading wafer fabrication
material as they are extensively used to produce integrated circuits and other
microelectronic devices".
Furthermore,
stringent regulations have led to increased adoption of electronic chemicals
and materials for many applications namely photovoltaics, flat panel displays,
and LED bulbs. Electronic chemicals and materials in the wafer fabrication
application occupied more than half of the total market in 2015 and is expected
to continue its dominance throughout the forecast period. Within packaging
application, the organic substrate segment accounted for one-third of the
market share as it is used for OLED displays that require low forward voltage,
high luminance efficiency, and low reverse current. This segment is expected to
continue its dominance in the packaging electronic chemicals and materials
application market.
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Key findings of the study
·
Wafer fabrication application
occupied the highest share in 2015 and is expected to grow with a CAGR of 6.4%
during the forecast period.
·
Silicon wafers dominated the
wafer fabrication application market in 2015 and is projected to maintain its
lead throughout.
·
The gases segment is expected to
grow with the highest CAGR of 7.1%.
·
Taiwan is the leading consumer
of the electronic chemicals and materials in the Asia-Pacific region
followed by South Korea.
·
In packaging application
segment, lead frames is expected to grow at the highest CAGR of 6.2%.
Asia-Pacific accounted
for more than half of the total electronic chemicals and materials market in
2015 and is expected to maintain its lead position throughout the forecast
period. This is attributable to the increase in domestic production of
automotive electronics, and usage of electronics such as mobiles, TV sets,
laptops, tablets, LED bulbs due to increase in the expenditure of the consumers
spending in this region.
"Taiwan is
the fastest growing country for electronic chemicals and materials market in
the Asia-Pacific region and is expected to remain dominant throughout
the period under consideration," adds Eswara Prasad
The
prominent players profiled include BASF SE, The Dow Chemical Company, JSM
Corporation, Fujifilm, KMG Chemicals, Air Products and Chemicals Inc, Albemarle
Corporation, Merck KGaA. Huntsman International LLC, and Honeywell
International Inc.
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About Us
Allied Market Research (AMR) is a full-service
market research and business-consulting wing of Allied Analytics LLP based
in Portland, Oregon. Allied Market Research
provides global enterprises as well as medium and small businesses with
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decisions and achieve sustainable growth in their respective market domain.
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various companies and this helps us in digging out market data that helps us
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market forecasting. Each and every data presented in the reports published by
us is extracted through primary interviews with top officials from leading
companies of domain concerned. Our secondary data procurement methodology
includes deep online and offline research and discussion with knowledgeable
professionals and analysts in the industry.
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