Albany, NY -- (SBWIRE) -- 03/09/2015 -- Electronic Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020

According to a new market report published by Transparency Market Research "Electronic Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" the global electronic chemicals market was valued at USD 41.02 billion in 2013 and is expected to reach USD 62.92 billion by 2020, growing at a CAGR of 6.2% from 2014 to 2020.

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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 foremost factors driving electronic chemicals market growth. There has been surge in demand for smartphone across the globe. Smartphone market that accounted for 22% of the global mobile phone market in 2010, held a 55% share of the market in 2013. Increasing demand for smartphone 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. High growth in solar energy market is anticipated to drive 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. 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.

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Asia Pacific dominated the global electronic chemicals market with market share of over 60% in 2013, this trend is anticipated to continue for a foreseeable future. North America was the second largest market for electronic chemicals in 2013 followed by Europe. 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 top five players in the electronic chemicals market constitute over 30% of the global market share. Major players in the electronic chemicals market include Albemarle Corporation, BASF SE, Bayer MaterialScience, Huntsman Corporation and The Dow Chemical Company.

This report segments the global electronic chemicals market as follows:
Electronic Chemicals Market - Product Segment Analysis
Wafers
Gases
CMP
Wet Chemicals
Photoresists
Others (Including Low k dielectric, etc.)

Electronic Chemicals Market - Application Analysis
Semiconductors & IC
PCB
Others (Including Memory disks, etc.)

Electronic Chemicals Market - Regional Analysis
North America
Europe
Asia Pacific
Rest of the World

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