2020 Guidance: The simplest way to Make the Best of Electronic Chemicals Market

Pune, New York, USA, November 18 2020 (Wiredrelease) Research Dive –:Semiconductor devices need proper maintenance for their smooth functionality; as a result, some specific electronic chemicals are used for etching, cleaning, doping, polishing, and overhauling of semiconductors.The electronic sector uses various types of highly sophisticated chemicals in several processing stages in the production of electronic components and products, packaging and printed circuit boards (PCBs), in silicon wafers and integrated circuits, compound semiconductors and optoelectronics, and flat panel display products.

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Silicon wafers chemicals are the most widely used type of electronic chemicals. Silicon wafers are a tiny part of a semiconductor, made using crystalline silicon. This part is a vital component in the construction of integrated circuits and acts as a substrate for microelectronics devices. Apart from the electronics sector several other industries such as food & cosmetic, automotive, agriculture, textile and aerospace, manufacturing, and many more use electronic chemicals for the maintenance and smooth functioning of various devices.

Upsurge in the Demand for Electronic Chemicals

Electronic chemicals are also known as performance chemicals and are used to upkeep the performance of industrial and consumer electronic devices. The rise in technological developments has introduced novel types of electronic chemicals in recent years. Methane sulfonic acid is a type of electronic chemical which used in several applications such as in biofuel & chemical synthesis, industrial cleaning, and metal surface treatment in the electronics sector. In January 2020, BASF, a leading chemical company has declared to invest in capacity expansion for methane sulfonic acid.

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Moreover, the mounting usage of semiconductors and integrated chips in the production of electrical components is greatly fueling the need for high-quality electronic chemicals. As a result, growing need for building electrical components that require electronic chemicals for their overhaul and maintenance is expected to fuel the growth of the global electronic market in the near future. However, implementation of strict government rules regarding the use of electronic chemicals and high costs involved in the installation of new manufacturing units for electrical components are projected to restrict the use and demand for electronic chemicals to a certain extent. 

Recent Trends and Developments in the Electronic Chemicals Sector

Several emerging economies such as the nations in North America and Asia Pacific region are witnessing an increase in the demand for specialty chemical products from various end-use industries.  As a result, to cope up with the surging demand for these chemicals, several, market players in the global electronic chemicals sector are implementing various major business strategies such as acquisitions, business expansions, product launches and developments, partnerships and mergers. To survive the growing competition in the global market, market players are actively looking to offer quality products to the customers.

For instance, in June 2016, Dow, a materials science leader committed to offering ground-breaking and sustainable solutions for customers in packaging, infrastructure, and consumer care, has developed a slurry platform” OPTILANE CMP”. This platform is used for the production of advanced semiconductors. 

Some of the other leading players functioning in the global electronics manufacturing sector are BASF SE, Air Liquide SA, MacDermid, Inc, Sumitomo Chemical Co. Ltd, Wacker Chemie AG, Honeywell International, Inc., Hitachi Chemical Co. Ltd., Merck KGaA, and Solvay S. A., and others.

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Patents play a major role in protecting the ownership of newly invented technologies; hence, several companies in this sector are submitting their new inventions for protecting their ownership over their inventions and developments. The augmented demand from consumers for compact and more proficient electronic products equipped with enhanced technological advancements has increased the research and development activities in the electronic chemicals field. In addition, the governing bodies of several countries are encouraging the development of innovative technologies by providing funds and implementing supporting policies. This has resulted in an upsurge in the number of patent registrations related to this market. 

Future Scope of the Electronic Chemicals Sector

According to a report by Research Dive, the global electronic chemicals market is anticipated to garner a revenue of $35,866.5 million by growing at a growth rate of 6.3% from 2019 to 2026. The report states that the North American region is expected to dominate the market growth due to rising number of electronic component and device manufacturing companies in this region. As per the report, overall the market is expected to grow significantly and reach newer heights in the coming future.

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