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Acetic Acid to dominate the global electronic wet chemicals market during the forecast period
The electronic wet chemicals industry has been segmented based on type as acetic acid, isopropyl alcohol hydrogen peroxide, hydrochloric acid, ammonium hydroxide, hydrofluoric acid, nitric acid, phosphoric acid, sulfuric acid and others. Acetic acid segment accounted for the larger share of the market in 2019. The growth in this segment is attributed to the increase in use in integrated circuits and it serve as one of the main substrates for microelectronics. These factors are expected to drive the demand for electronic wet chemicals during the forecast period.
Semiconductor segment to lead the global electronic wet chemicals market during the forecast period
The market has been segmented based on application into semiconductor, IC Packaging, PCB and others. The semiconductor segment accounted for the largest share of the market in 2019 and is expected to witness significant growth during the forecast period. The growth in this segment is attributed to increasing consumption in the advanced electronics and consumer goods such as smartphones, laptops and others in emerging economies such as APAC. Furthermore, the demand for semiconductor is increasing in flat panel display and automotive industry. These factors are expected to drive demand during the forecast period.
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APAC is expected to have the largest market size in the global electronic wet chemicals market during the forecast period
APAC is projected to be the leading electronic wet chemicals industry globally during the forecast period. The growth in the APAC region can be attributed to the rising demand from consumer goods industry. The presence of several microelectronic devices manufacturers, favorable government policies, and low labor costs along with growing demand for electronic wet chemicals in the region are further strengthening the market and attracting major players to invest in the region.
The Avantor Inc (US), BASF SE (Germany), Cabot Microelctronics (US), Honeywell International Inc. (US), Kanto Chemical Co. Inc (Japan), Eastman (US), Solvay (Belgium), Fujifilm Holding (Japan), Technic Inc. (US), and Linde Plc. (Ireland) among others are the key players operating in the electronic wet chemicals market.
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Recent Developments :
- In July 2019, Solvay announced that it will increase the capacity of its hydrogen peroxide plant in Jemeppe-sur-Sambre (Belgium), allowing H2O2 production to increase. The company is also planning to expand capacities of plants in Bernburg (Germany) and Voikkaa (Finland). These investments meet the growing product demand in Europe, in existing and new applications.
- In June 2019, Kanto Chemical Co. Inc invested around USD 63.7 million to expand its production facility in Taiwan to meet the growing demand of major local clients from the semiconductors industry. This facility will increase the annual output of semiconductor products from 120,000 tons to 200,000 tons.
- In August 2018, Cabot Microelectronics acquired KMG chemicals (US) and became a leading chemical provider of consumable materials to semiconductors in the North American region. The acquisition will complement the existing portfolio of Cabot and increase customer touchpoints with leading semiconductor manufacturers.
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Electronic Wet Chemicals Market Worth $3.9 Billion by 2025 : Growing at a CAGR of 3.5%
Major Players in Electronic Wet Chemicals Market are Avantor Inc (US), BASF SE (Germany), Cabot Microelctronics (US), Honeywell International Inc. (US), Kanto Chemical Co. Inc (Japan), Eastman (US), Solvay (Belgium), Fujifilm Holding (Japan), Technic Inc. (US), and Linde Plc. (Ireland).